<h1>IBBI Amends Rules: Limits Equity Holding in Insolvency Agencies, Sets Board and Director Appointment Criteria.</h1> The Insolvency and Bankruptcy Board of India (IBBI) has amended regulations concerning Insolvency Professional Agencies (IPAs) and Information Utilities (IUs). The amendments restrict individuals and entities from holding more than 5% of the equity in an IPA, with exceptions for certain financial institutions and government bodies, which can hold up to 15% or 100%, respectively. The amendments also outline the structure and appointment criteria for the governing board and managing director of IPAs and IUs. These changes are effective immediately, and existing IPAs and IUs must comply within one year.