IBBI invites comments on Discussion Paper on Insolvency Professional Agencies & information Utilities Regulations

May 10, 2019 | by Avantis RegTech Legal Research Team


The Insolvency and Bankruptcy Board of India (IBBI) on May 08, 2019, issues a discussion paper regarding amendments to the IBBI (Information Utilities) Regulations, 2017; and the IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016. 

It is proposed to amend the Regulations to specify the processes of authentication and verification specifies under Section 210 of the Insolvency and Bankruptcy Code, 2016 and to amend regulations to increase the upper age limit to 75 years for independent directors of IPAs and IUs specifies under Regulation 9(7) of the IBBI (Information Utilities) Regulations, 2017 and Regulation 5(8) of the IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016.

IBBI is inviting comments from public on Discussion Paper on Insolvency Professional Agencies & information Utilities Regulations, to be submitted electronically at IBBI website, www.ibbi.gov.in by May 30, 2019.


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