The Insolvency and Bankruptcy Board of India was established on 1st October, 2016 under the Insolvency and Bankruptcy Code, 2016 (Code).
It has also been designated as the ‘Authority’ under the Companies (Registered Valuers and Valuation Rules), 2017 for regulation and development of the profession of valuers in the country.
Insolvency and Bankruptcy Board of India (IBBI) provides opportunities to the Professionals to act as Insolvency Professional & Registered Valuer. Members can act as IRP, RP, IP, Liquidators and Registered Valuers.
Eligibility Criteria to Register as an Insolvency Professional:
Chartered Accountant, Company Secretary, Cost Accountant and Advocate who has enrolled as a member of respective Institute/Bar Council and has ten years of experience [Regulation 5(c)(iv) of the IBBI (Insolvency Professionals) Regulations, 2016], or
A Graduate who has fifteen years of experience in management, after receiving a Bachelor’s degree from a university established or recognized by law [Regulation 5(c)(iii) of the IBBI (Insolvency Professionals) Regulations, 2016], or
Successfully completed the National Insolvency Programme, as may be approved by the IBBI [Regulation 5(c)(i) of the IBBI (Insolvency Professionals) Regulations, 2016], or
Successfully completed the Graduate Insolvency Programme, as may approved by the IBBI [Regulation 5(c)(ii) of the IBBI (Insolvency Professionals) Regulations, 2016].
And
has passed the Limited Insolvency Examination within twelve months before the date of his application for enrolment with the insolvency professional agency [Regulation 5(a) of the IBBI (Insolvency Professionals) Regulations, 2016], and
has completed a pre-registration educational course, as may be prescribed by the IBBI, from an IPA after his enrolment as professional member. [Regulation 5(b) of the IBBI (Insolvency Professionals) Regulations, 2016]
The Ministry of Skill Development and Entrepreneurship (MSDE) has announced the launch of a training programme for the new job role of ‘Insolvency Associates’, in partnership with Insolvency and Bankruptcy Board of India (IBBI). Insolvency Associates will assist Insolvency Professionals, licensed by the IBBI, in the smooth functioning of the Insolvency & Bankruptcy Code (IBC) 2016.
Eligibility Criteria to Register as Registered Valuer for Financial Securities Class
Qualifications and experience to be eligible to register as Registered Valuer on completion of educational course by a Registered valuers Organisation and clearing the examination conducted by the Insolvency and Bankruptcy Board of India (IBBI)
An individual shall have the following qualifications and experience to be eligible for registration under rule 3, namely:-
post-graduate degree or post-graduate diploma, in the specified discipline, from a University or Institute established, recognised or incorporated by law in India and at least three years of experience in the specified discipline thereafter; or
a Bachelor’s degree or equivalent, in the specified discipline, from a University or Institute established, recognised or incorporated by law in India and at least five years of experience in the specified discipline thereafter; or
Membership of a professional institute established by an Act of Parliament enacted for the purpose of regulation of a profession with at least three years’ experience after such membership and having qualification mentioned at clause (a) or (b).