IBBI

When a flat purchase in Navi Mumbai goes wrong, you can complain to RERA. When a company defaults on its loans, somebody has to supervise the people who run the rescue: the professionals who take over the company, the bodies that license them, the databases that record debts. Who polices the police? In the Insolvency and Bankruptcy Code the answer is a single statutory regulator, the Insolvency and Bankruptcy Board of India, and Part IV of the Code is its charter.

In two minutes

The Insolvency and Bankruptcy Board of India (IBBI) is a body corporate set up under s.188 to register and regulate the service providers of the insolvency system, make regulations, inspect, investigate and punish; it does not itself decide insolvency cases, which belong to the Adjudicating Authority.

The rest of this chapter

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