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Rajeswari Sengupta & Anirudh Burman: Ushering in insolvency professionals

Countries such as the United Kingdom and Canada have a well-developed cadre of self-regulated insolvency professionals

Anirudh Burman & Rajeswari Sengupta 

Anirudh Burman & Rajeswari Sengupta The Insolvency and Bankruptcy Code (IBC), 2016 creates a new institutional framework for the quick and equitable resolution of distressed firms and individuals. A critical pillar of this law is the creation of a new profession of insolvency professionals (IPs). The IPs will be regulated by the code set out by Insolvency and Bankruptcy Board of India (IBBI) as well as by the insolvency professional agencies (IPAs). The IBC sets out the broad framework for regulating IPs and delegates the task of framing detailed subordinated legislation governing their functioning to the IBBI. In an earlier ...

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