IBBI Issues Fresh Guidelines For Appointment of Insolvency Professionals

In order to reduce administrative delays in appointing of Resolution Professionals, the Insolvency and Bankruptcy Board of India (IBBI) on Friday issued fresh guidelines to streamline how insolvency professionals (IPs) are shortlisted and appointed across tribunals from January 1, 2026. Under the new framework, only IPs with a clean record and a valid Authorisation for Assignment through the entire panel period will be considered. This means, An IP can be included in the panel only if no disciplinary proceeding is pending either with the Board or the insolvency professional agency, and if the professional has not been convicted by any court of competent jurisdiction in the last three years. All applicants must file an expression of interest, which the guidelines clarify is “an unconditional consent” to act when appointed. Once empanelled, professionals cannot refuse assignments unless they have valid reasons accepted by the tribunal or the Board. The guidelines state that “ Any refusal to act as IRP, Liquidator, RP or BT, as the case may be, on being appointed by the AA, without sufficient justification, will be treated as deviation from consent and name will be removed from panel for six months.” For preparing the panel, IBBI will sort eligible professionals based on what it calls the volume of their ongoing assignments. In cases where two or more IPs receive the same score, the one registered earlier with the Board will be placed above the other The panel will be organised zone-wise and bench-wise according to the IP's registered office, while insolvency professional entities will be eligible for appointment by any bench nationwide.Click Here To Read/Download Guidelines

IBBI Issues Fresh Guidelines For Appointment of Insolvency Professionals

Sahyaja MS

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