IBBI Unveils Guidelines to Faster Appoint Insolvency Pros
NEW DELHI: The Insolvency and Bankruptcy Board of India (IBBI) has released new guidelines for the empanelment of insolvency professionals, facilitating faster appointments in corporate insolvency and bankruptcy cases. These guidelines detail the procedure for creating a panel of insolvency professionals (IPs) to serve as Interim Resolution Professionals (IRPs), liquidators, resolution professionals (RPs), and bankruptcy trustees (BTs). In a circular issued on Monday, it was stated that applicants for empanelment must not be under suspension or debarment, nor engaged in any pending disciplinary actions. They must also declare if they have faced any criminal convictions in the last three years.…