Insolvency and Bankruptcy Board of India (IBBI)

  • IBBI is the regulator for overseeing insolvency proceedings of service providers like Insolvency Professional Agencies (IPA), Insolvency Professionals (IP) and Information Utilities (IU) in India.
  • It was given statutory powers through the Insolvency and Bankruptcy Code.
  • It functions under Ministry of Commerce.
  • The Code provides for a market-determined and time-bound resolution of insolvency proceedings.
  • It became operational in December 2016.
  • It covers Individuals, Companies, Limited Liability Partnerships and Partnership firms.
  • It attempts to simplify the process of insolvency and bankruptcy proceedings and speed up the resolution process for stressed assets in the country.



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