India

IBBI is an autonomous and statutory regulatory body that comes under the ambit of the Ministry of Corporate Affairs (MCA), Government of India. IBBI forms one of the most important pillars of the Indian insolvency ecosystem, and its operations are governed by a Board consisting of a Chairperson, members of the Central Government, the Reserve Bank of India (RBI), Whole-time Members, and Part-time Members nominated by the Central Government.

Maintains Registers, Regulates, Inspects, Investigates, and Disciplines Insolvency Professionals (IPs), Insolvency Professional Agencies (IPAs), Insolvency Professional Entities (IPEs), and Information Utilities (IUs). Develops and implements laws on Corporate Insolvency Resolution Process (CIRP), Pre-Packaged Insolvency Resolution Process (PPIRP), Corporate Liquidation, Voluntary Liquidation, Individual Insolvency, Bankruptcy, and Fresh Start processes. Sets out eligibility requirements, professional conduct, ethics, examination, continuing professional development, and governance standards for insolvency professionals. Carries out inspections, investigations, surveillance, grievance redressal, adjudications, and disciplinary actions to ensure compliance with the provisions of the Insolvency and Bankruptcy Code and IBBI Regulations. Focuses on promoting research, transparency, information sharing, development and practice in insolvency and distressed assets markets. Functions as the Designated Authority under the Companies (Registered Valuers and Valuation) Rules, 2017, for the regulation and development of the valuation profession in India.