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What is the purpose of the Insolvency and Bankruptcy Board of India (IBBI)
The Insolvency and Bankruptcy Board of India (IBBI) recently celebrated its Seventh Annual Day. Explain the objective and role of IBBI.
RahulPreparing for Civil Services
The Insolvency and Bankruptcy Board of India (IBBI) is a regulatory body established under the Insolvency and Bankruptcy Code, 2016. Its objective is to facilitate and regulate a smooth and efficient insolvency resolution and bankruptcy process in India.
The role of the IBBI can be summarized as follows:
Regulation: The IBBI regulates various professionals, such as insolvency professionals, insolvency professional agencies, and information utilities involved in the insolvency and bankruptcy process.
Insolvency Professional Standards: It sets
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