SUSPENDED AMMUNITION
3,009 registered insolvency professionals
69 registered insolvency professional entities
3,030 registered valuers
1 Information Utility
Source: IBBI
Date as of 31 March 2020
The government’s move to suspend the insolvency and bankruptcy law for six months to one year has put stakeholders of the insolvency regime in a bind. Many of them – insolvency professionals (IPs), insolvency professional entities (IPEs), valuers, lawyers and others – face uncertain times.
An IPE is a legal entity of IPs, who are its partners/directors. Its objective is to provide support services to IPs, who run companies under insolvency and are appointed by the Committee of Creditors. Many of these professionals/entities have invested a lot in creating infrastructure, systems and networks to deal with insolvency cases. Over the last four years – the Insolvency
