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IBBI Guidelines; Dated: 27.05.2025

1. Background and Objective

The Insolvency and Bankruptcy Board of India (IBBI) has released the “Insolvency Professionals to act as IRPs, Liquidators, RPs and Bankruptcy Trustees (Recommendation) Guidelines, 2025.” The document replaces the 2024 framework and is meant to standardise how panels of Insolvency Professionals (IPs) are prepared and shared with Adjudicating Authorities (NCLT & DRT) so that appointments happen quickly and transparently.

2. Effective Window & Statutory Backing

Validity – 1 July 2025 – 31 December 2025.
Issued under – Sections 16(4), 34(6), 97(4), 98(3), 125(4), 146(3) & 147(3) of the Insolvency and Bankruptcy Code, 2016, plus Rule 8(2) of the Personal-Guarantor Rules.

3. Eligibility Requirements for IPs

To be included in the six-month panel, an IP must:

Face no pending disciplinary proceedings before IBBI or their IPA.
Have no conviction by any court in the past three years.
Hold a live Authorisation for Assignment (AFA) that extends at least to 31 Dec 2025.
Submit an Expression of Interest (EOI) in Form A with unconditional consent to act as IRP/RP/Liquidator/BT.

4. Conditions & Obligations on Empanelled IPs

Deemed consent – Inclusion equals automatic willingness to accept any appointment allotted by NCLT/DRT.
Refusal consequences – Declining an assignment without valid reason can lead to six-month removal from the panel.
No surrender rule – IPs may not surrender registration, IPA membership or AFA while the panel is in force.
Continuous disclosures – IPs must promptly update the Board on any new disciplinary matters or change in eligibility.

5. Transparency & Accountability Enhancements

Mandatory sector experience disclosure in Form A helps Tribunals match cases with relevant expertise.
Single consolidated panel shared with every NCLT bench and DRT removes ad-hoc nominations and shortens appointment time.
Repeal & savings clause – The 2024 guidelines stand repealed; actions already taken under them remain valid, ensuring legal continuity.
IPs & IPEs – Confirm AFA validity, gather assignment data and file Form A before 22 June 2025 to stay eligible.
Creditors & Debtors – Can expect faster constitution of IRP/RP and Liquidator appointments, reducing procedural lag.
Tribunals – Receive a ready-vetted, zone-balanced list, lowering administrative burden and improving turnaround times.