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of <h1>IBBI Circular No. IBBI/IP/65/2024: New Guidelines for Insolvency Professionals to Boost Transparency and Efficiency in Processes.</h1> The Insolvency and Bankruptcy Board of India issued Circular No. IBBI/IP/65/2024 on February 1, 2024, outlining measures to enhance the efficiency of insolvency processes conducted by Insolvency Professionals (IPs). It clarifies the roles and functions of IPs under the Insolvency and Bankruptcy Code 2016, including professional service provision, adherence to a Code of Conduct, and billing practices. The circular specifies that IPs can offer services related to approved resolution plans and details compliance requirements for invoicing. This aims to improve transparency, efficiency, and accountability in insolvency proceedings, benefiting stakeholders by providing clear guidelines on professional and financial practices.
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