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of <h1>Insolvency Board of India issues guidelines for temporary surrender and revival of Insolvency Professionals' membership under IBC 2016.</h1> The circular issued by the Insolvency and Bankruptcy Board of India outlines the procedures for the temporary surrender and revival of professional membership for Insolvency Professionals (IPs). It advises that temporary surrender should not be accepted if the IP is engaged in active assignments, acting as an authorized representative, or included in specific panels or guidelines. The document details the forms required for processing surrender and revival, including applications and notifications to the Board. The circular is issued under the authority of the Insolvency and Bankruptcy Code, 2016, in consultation with Insolvency Professional Agencies.
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