IBBI Regulating Insolvency and Bankruptcy in India

The Insolvency and Bankruptcy Board of India (IBBI) is a statutory body established on October 1, 2016, with its headquarters in New Delhi. It plays a crucial role in regulating insolvency and bankruptcy processes in India. The IBBI oversees insolvency professionals, professional agencies, and information utilities, while also formulating and enforcing rules for both corporate and individual insolvency resolutions under the Insolvency and Bankruptcy Code (IBC) of 2016.

The IBC consolidates laws related to insolvency, reorganization, and bankruptcy for corporate entities, partnership firms, and individuals. The IBBI also focuses on knowledge dissemination, offering tools and best practices to enhance understanding and implementation of the IBC. Additionally, it acts as the designated “Authority” under the Companies (Registered Valuers and Valuation Rules), 2017. With offices in Connaught Circus and Parliament Street, the IBBI ensures the effective execution of the insolvency and bankruptcy framework in India.