• 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
  • Login
  • Register
Manifest IAS
JournalsOfIndia
Advertisement
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
JournalsOfIndia
No Result
View All Result
Home Economy

Insolvency and Bankruptcy Board of India

February 11, 2022
in Economy
Reading Time: 3 mins read
0
Insolvency and Bankruptcy Board of India
154
VIEWS
Share on WhatsAppShare on TelegramShare on Facebook
image_pdfMake PDF
In news– Recently, Ravi Mital, a 1986 batch IAS officer of Bihar cadre,  took charge as Chairperson of Insolvency and Bankruptcy Board of India.

About Insolvency and Bankruptcy Board of India-

  • It was established on 1st October, 2016 under the Insolvency and Bankruptcy Code, 2016 (Code).
  • It is a key pillar of the ecosystem responsible for implementation of the Code that consolidates and amends the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of the value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders.
  • It is a unique regulator: regulates a profession as well as processes.
  • It has regulatory oversight over the Insolvency Professionals, Insolvency Professional Agencies, Insolvency Professional Entities and Information Utilities. 
  • It writes and enforces rules for processes, namely, corporate insolvency resolution, corporate liquidation, individual insolvency resolution and individual bankruptcy under the Code.
  • It has recently been tasked to promote the development of, and regulate, the working and practices of, insolvency professionals, insolvency professional agencies and information utilities and other institutions, in furtherance of the purposes of the Code.
  • It has also been designated as the ‘Authority’ under the Companies (Registered Valuers and Valuation Rules), 2017 for regulation and development of the profession of valuers in the country.

Functions of the board-

  • Register insolvency professional agencies, insolvency professionals and information utilities and renew, withdraw, suspend or cancel such registrations.
  • Specify the minimum eligibility requirements for registration of insolvency professional agencies, insolvency professionals and information utilities.
  • Levy fee or other charges for carrying out the purposes of this Code
  • Lay down by regulations the minimum curriculum for the examination of the insolvency professionals for their enrolment as members of the insolvency professional agencies.
  • Carry out inspections and investigations on insolvency professional agencies, insolvency professionals and information utilities and pass such orders as may be required for compliance of the provisions of this Code
  • Monitor the performance of insolvency professional agencies, insolvency professionals and information utilities.
  • Call for any information and records from the insolvency professional agencies, insolvency professionals and information utilities.
  • Publish such information, data, research studies and other information as may be specified by regulations.
  • Maintain websites and such other universally accessible repositories of electronic information as may be necessary.
  • Enter into a memorandum of understanding with any other statutory authorities.
  • Specify mechanism for redressal of grievances against insolvency professionals, insolvency professional agencies and information utilities and pass orders relating to complaints filed against the aforesaid for compliance of the provisions of this Code and the regulations issued hereunder.
  • The Board may make model bye-laws to be adopted by insolvency professional agencies.
image_pdfMake PDF
Source: Livemint
Tags: NewspaperPrelims

Related Posts

National Startup Advisory Council (NSAC)

National Startup Advisory Council (NSAC)

May 20, 2022
State of Inequality in India Report

State of Inequality in India Report

May 19, 2022
Gold hallmarking

Gold hallmarking

May 4, 2022
MSME Sustainable (ZED) Certification Scheme

MSME Sustainable (ZED) Certification Scheme

May 3, 2022
India Semiconductor Mission

India Semiconductor Mission

May 3, 2022
Atal New India Challenge 2.0 (ANIC 2.0)

Atal New India Challenge 2.0 (ANIC 2.0)

April 30, 2022
Labour Force Participation Rate (LFPR)

Labour Force Participation Rate (LFPR)

April 29, 2022
All-India Household Consumer Expenditure Survey

All-India Household Consumer Expenditure Survey

April 26, 2022
Fincluvation

Fincluvation

April 23, 2022
Global Ayush Investment and Innovation Summit 2022

Global Ayush Investment and Innovation Summit 2022

April 22, 2022
Please login to join discussion

Our Offline Classroom Student

PRELIMS 2021 POLITY QUESTIONS ANALYSED

https://youtu.be/5q8hBcRGhAs

PRELIMS 2021 HISTORY QUESTIONS ANALYSED

https://youtu.be/v0SIZ7SUybg

CONGRATULATIONS TO 2020 TOPPERS !!!

Rank 25 Vaibhav Rawat 

Rank 218 Kankanala Rahul Reddy
Rank 385 Sagar A Wadi
Rank 504 Malashree MV
Rank 573 Shridevi B V
Rank 707 Mamatha G

COURSES OFFERED

PRELIMS SURESHOTS

May 2022
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
3031 
« Apr    

Browse by Category

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tags

AIR BBC Business Standard CNN Deccan Herald DownToEarth Down to Earth DTE Economic Times ET GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express India today Indiatoday Kurukshetra LiveMint Mains News News Paper Newspaper PIB PIB & The Hindu pre Prelims PRS India RSTV Science Reporter Survey The Hindu The Hindustan Times The India Express The Indian Express The New Indian Express Times of India TOI TOPPERS UNDP website Wikipedia Yojana
JournalsOfIndia

Our vision is to orient the readers to grasp the facts objectively and analyse critically. In the rush of reaching first to the readers, the websites miss the balanced opinion, which is the need of the hour. We aim to reach the readers with more crispness, preciseness and relevance. We bring the articles in UPSC way for the civil services aspirants and the Wisest Way for general readers.

Categories

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tag

AIR BBC Business Standard CNN Deccan Herald DownToEarth Down to Earth DTE Economic Times ET GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express India today Indiatoday Kurukshetra LiveMint Mains News News Paper Newspaper PIB PIB & The Hindu pre Prelims PRS India RSTV Science Reporter Survey The Hindu The Hindustan Times The India Express The Indian Express The New Indian Express Times of India TOI TOPPERS UNDP website Wikipedia Yojana

Newsletter

The most important UPSC news and events of the day.

Get Journals daily newsletter on your inbox.

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

  • Login
  • Sign Up
  • Home
  • SNIPPETS
  • ARTICLES
  • BROWSE
  • DOWNLOADS
No Result
View All Result

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In