Market economies need responsible, ethical professionals, says MS Sahoo

IBBI is the regulator of insolvency resolution professionals and it has been given the temporary responsibility of regulating VPs

The Insolvency and Bankruptcy Code (IBC) has brought in a boom for resolution professionals, and the same is expected for the industry engaged in valuation of stressed assets, and this required codification of professional standards, while enhancing and improving techniques of valuation.

The Insolvency and Bankruptcy Board of India (IBBI) has been entrusted with developing that codification and enhancement of valuers for now by the Ministry of Corporate Affairs.

“Professional bodies perform secondary state functions,” and therefore, they have a responsibility to the public, M S Sahoo (pictured), chairperson of the IBBI, said at an Assocham event of valuation professionals (VPs) in