Write a short note on the role of Insolvency and Bankruptcy Board of India.
CS Professional · Corporate Restructuring, Valuation and Insolvency · PYQS · December 2018
Write a short note on the role of Insolvency and Bankruptcy Board of India.
Answer & Explanation:
Role of the Insolvency and Bankruptcy Board of India (IBBI) is as under: Regulating all matters related to insolvency and bankruptcy process. Setting out eligibility requirements of insolvency intermediaries i.e., Insolvency Professionals, Insolvency Professional Agencies and Information Utilities. Regulating entry, registration and exit of insolvency intermediaries. Making model bye-laws for Insolvency Professional Agencies. Setting our regulatory standards for Insolvency Professionals. Specifying the manners in which information utilities can collect and store data.
Topics: Insolvency and Bankruptcy Code (IBC)
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