valid as on 30/03/2020

2.3.12:Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016.

12. Recognition of Insolvency Professional Entities.

 A company, a registered partnership firm or a limited liability partnership may be recognised as an if –

  its sole objective is to provide support services to insolvency professionals, who are its partners or directors, as the case may be;

it has a net worth of not less than one crore rupees;

 majority of its shares is held by insolvency professionals, who are its directors, in case it is a company;

  majority of capital contribution is made by insolvency professionals, who are its partners, in case it is a limited liability partnership firm or a registered partnership firm;

 majority of its partners or directors, as the case may be, are insolvency professionals;

  majority of its whole time directors are insolvency professionals, in case it is a company; and

 none of its partners or directors is a partner or a director of another insolvency professional entity:

Provided that the insolvency professional entities recognised as on the date of commencement of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2018 shall comply with the provisions of clauses (a), (b) (c) and (d) on or before 30th September, 2018 and the provisions of clauses (e), (f) and (g) on or before 30th June, 2018.

12. (1) A limited liability partnership, a registered partnership firm or a company may be recognised as an insolvency professional entity if-

(a) a majority of the partners of the limited liability partnership or registered partnership firm are registered as insolvency professionals; or

(b) a majority of the whole-time directors of the company are registered as insolvency professionals, as the case may be.

 A person eligible under sub-regulation (1) may make an application for recognition as an insolvency professional entity to the Board in   of the Second Schedule along with an application fee of fifty thousand rupees.

(2) A person eligible under sub-regulation (1) may make an application for recognition as an insolvency professional entity to the Board in of the Second Schedule to these Regulations.

Substituted vide  the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2018 dated 27.03.2018 effective from 01.04.2018. To view the notification,Click Here

IBBI has de-recognised 13 of the Insolvency Professional Entities who have failed to comply with the provisions of Regulation 12(1) of this Regulations vide its Order dated 17.01.2019. To view the Order, Click Here.

IBBI refrains Insolvency Professional Entities from seeking empanelment with or joining any panel of any market participant vide Circular No. IBBI/IPE/014/2018 dated 6.07.2018. To view the Circular, Click Here

This provision is to be complied on or before 30.09.2018 vide the Circular No. IPE/008/2018 dated 05.04.2018. To view the Circular, Click Here
This provision is to be complied on or before 30.09.2018 vide the Circular No. IPE/008/2018 dated 05.04.2018. To view the Circular, Click Here
This provision is to be complied on or before 30.09.2018 vide the Circular No. IPE/008/2018 dated 05.04.2018. To view the Circular, Click Here
This provision is to be complied on or before 30.09.2018 vide the Circular No. IPE/008/2018 dated 05.04.2018. To view the Circular, Click Here
This provision is to be complied on or before 30.06.2018 vide the Circular No. IPE/008/2018 dated 05.04.2018. To view the Circular, Click Here
This provision is to be complied on or before 30.06.2018 vide the Circular No. IPE/008/2018 dated 05.04.2018. To view the Circular, Click Here
This provision is to be complied on or before 30.06.2018 vide the Circular No. IPE/008/2018 dated 05.04.2018. To view the Circular, Click Here
Substituted vide the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2018 dated 11.10.2018. To view the Notification, Click Here
Refer Second Schedule of Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016. Form C substituted vide Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2019 dated 25.10.201 To view the schedule,Click Here
Refer Second Schedule of Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016.To view the schedule,Click Here

Order in the matter of de-recognition of Insolvency Professional Entities dated 17.01.2019


The Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2018 w.e.f. 01.04.2018


The Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2018 dated 11.10.2018


The Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2019 dated 25.10.2019


Circular No. IPE/008/2018 dated 05.04.2018


Circular on empanelment of Insolvency Professional Entities dated 6.07.2018


Second Schedule-Form A, Form C, Form F substituted vide Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2019 dated 25.10.2019.


Second Schedule-Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016. [Form A, Form C, Form F are substituted vide IBBI (Insolvency Professionals) (Second Amendment) Regulations, 2019 dated 25.10.2019


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