Legal UpdatesSecurity Laws

IBBI issues guidelines for Appointment of Insolvency Professionals as Administrators

IBBI and SEBI Updates

IBBI issues guidelines for Appointment of Insolvency Professionals as Administrators under SEBI (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, 2018 (Reg.). In order to implement the Reg. effectively SEBI has agreed to appoint the IPs from the Panel as the Administrators, as per its requirement in accordance with the Regulations. The Panel would be valid for six months thereafter the new Panel would replace the earlier Panel in every six months.
The panel would have Zone wise list of IPs and the IP would be included in the Panel against the Zone where his registered office (address as registered with the IBBI) is located.Further, IBBI invites expression of interest from IPs to act as Administrator and lists down the eligibility criteria and procedure for the appointment of Insolvency Professionals as Administrators. Hence, there has been an e-mail sent to the registered IPs with the Board seeking EOI for the appointment as an Administrator during the period of 10th April 2019 to 30th September 2019.
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