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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Insolvency Professionals must update IBBI portal on appointments as per Section 196 of the Insolvency Code.</h1> The Insolvency and Bankruptcy Board of India (IBBI) requires Insolvency Professionals (IPs) to update their assignments on the IBBI portal upon appointment in various roles under the Insolvency and Bankruptcy Code, 2016. This includes roles such as Interim Resolution Professional, Resolution Professional, and Liquidator, among others. The circular mandates timely reporting of new, ongoing, and closed cases, with specific deadlines for each. The aim is to streamline processes, reduce compliance burdens, and ensure thorough record-keeping. The directive formalizes current practices and is issued under section 196 of the Code.
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