The Insolvency and Bankruptcy Board of India (IBBI) was established in

The Insolvency and Bankruptcy Board of India (IBBI) was established in the year

[amp_mcq option1=”2014″ option2=”2015″ option3=”2016″ option4=”2017″ correct=”option3″]

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UPSC CDS-2 – 2022

The Insolvency and Bankruptcy Board of India (IBBI) is the regulator for overseeing insolvency proceedings in India. It was established on 1st October 2016 under the Insolvency and Bankruptcy Code, 2016.

The Insolvency and Bankruptcy Code, 2016 was a landmark legislation aimed at consolidating and amending the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner.

IBBI is a unique regulator regulating a profession as well as processes. It regulates insolvency professionals, insolvency professional agencies, insolvency professional entities, and information utilities.

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