valid as on 31/05/2020

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

13. (1) If the Board is satisfied, after such inspection or inquiry as it deems necessary that the applicant is eligible under these Regulations, it may grant a certificate of recognition as an insolvency professional entity in of the Second Schedule to these Regulations.

(2) The recognition shall be subject to the conditions that the insolvency professional entity shall-

(a) at all times continue to satisfy the requirements under Regulation 12;

inform the Board, within seven days, when an individual ceases to be its director or partner, as the case may be, in of the Second Schedule along with a fee of two thousand rupees;

 when an individual ceases to be its director or partner, as the case may be, on and from the date of commencement of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2020 and ending on the 31st December 2020, the insolvency professional entity shall inform the Board, within thirty days of such cessation.

(b) inform the Board, within seven days, when an insolvency professional ceases to be its director or partner, as the case may be,

 inform the Board, within seven days, when an individual joins as its director or partner, as the case may be, in Form F of the Second Schedule along with a fee of two thousand rupees;

when an individual joins as its director or partner, as the case may be, on and from the date of commencement of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2020 and ending on the 31st December 2020, the insolvency professional entity shall inform the Board, within thirty days of such joining.

(ca) pay to the Board, a fee calculated at the rate of 0.25 percent of the turnover from the services rendered by it in the preceding financial year, on or before the 30th of April every year, along with a statement in  of the Second Schedule; and

submit to the Board, by 15th day of October every year, a compliance certificate in , for the preceding financial year:

Provided that an insolvency professional entity recognised as on 31st March, 2019 shall submit to the Board, by 31st December 2019, a compliance certificate in Form H for the financial year 2018-19.

inform the Board, within seven days, when an insolvency professional joins as its director or partner, as the case may be, and

(d) abide by such other conditions as may be specified.

(3) An insolvency professional entity shall be jointly and severally liable for all acts or omissions of its partners or directors as insolvency professionals committed during such partnership or directorship.

Refer Second Schedule of Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016.To view the schedule,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
Inserted vide the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2018 dated 11.10.2018.

Substituted vide Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2019 dated 25.10.2019.To view the Notification, Click Here. To view the Form, Click Here To view the substituted form Click Here

Inserted vide IBBI (Insolvency Professionals) (Amendment) Regulations, 2020 dated 28.03.2020. To view the notification, 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
Inserted vide IBBI (Insolvency Professionals) (Amendment) Regulations, 2020 dated 28.03.2020. To view the notification, Click Here.

IBBI provides that Form E and form G shall be submitted electronically for FY 2018-19 by every IP / IPE even if he has not earned any professional fee or does not have turnover during 2018-19 dated 12.04.2019. To view the Circular, Click Here.

Inserted vide the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2018 dated 11.10.2018. To view the Notification, Click Here. To view the Form, Click Here

Substituted vide IBBI (Insolvency Professionals) (Amendment) Regulations, 2020 dated 28.03.2020. To view the notification, Click Here.
Substituted vide IBBI (Insolvency Professionals) (Amendment) Regulations, 2020 dated 28.03.2020. To view the notification, Click Here.
Inserted vide Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2019 dated 25.10.2019. To view the notification,Click Here
Refer form H of second schedule of Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016. To view the schedule,Click Here
The format for informing the Board about ceasing and joining to insolvency professional entity as its director or partner is provided vide Circular No. IBBI/IPE/017/2018 dated 31.08.2018. To view the Circular, Click Here

IBBI (Insolvency Professionals) (Amendment) Regulations, 2020 dated 28.03.2020


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 on compliance with regulations 7 (2) (ca) and 13 (2) (ca) of the IBBI (Insolvency Professionals) Regulations, 2016 dated 12.04.2019


Compliance with regulation 13 (2) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 vide Circular No. IBBI/IPE/017/2018 dated 31.08.2018


FORM F – Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 w.e.f., 11.10.2018


FORM G – Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 w.e.f., 11.10.2018


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-Form H inserted 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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