IBBI issues Guidelines for Panel of Eligible Insolvency Professionals For NCLT and DRT Appointments
The IBBI has issued new guidelines for recommending IPs to act as Interim Resolution Professionals (IRP), Resolution Professionals (RP), Liquidators, and Bankruptcy Trustees (BTs), effective July 1, 2025 to December 31, 2025. The panel aims to prevent delays in appointments under the Insolvency and Bankruptcy Code, 2016.
Key features of the new guidelines include:
- Eligibility criteria require IPs to have no pending disciplinary proceedings, no criminal convictions in the last three years, and a valid Authorization for Assignment (AFA) throughout the panel period
- IPs must submit expressions of interest by June 22, 2025, which constitutes unconditional consent to act in any corporate or individual insolvency process
- The panel will be organized zone-wise and bench-wise based on the registered office of the IP, with IPE panels valid for all NCLT benches
- IPs will be sorted based on their ongoing assignment volumes, with registration date as a tiebreaker
- Refusal to accept appointments without sufficient justification may result in removal from the panel for six months
The NCLT or DRT may appoint an IP from the panel or request the IBBI to recommend one, including from outside the panel. These guidelines replace the previous 2024 guidelines which were issued on December 2, 2024, with all prior actions preserved.
Published On:
- July 23, 2025
Contributors:
- Abhishek Swaroop
- Shreya Chandhok
- Kirti Talreja
- Rounak Doshi
- Bharath Krishna