IBBI Issues Guidelines for Appointment of IRPs | RPs | Liquidators

IBBI Guidelines; Dated: 18.05.2026 (ibc.bnf)

The Insolvency and Bankruptcy Board of India (IBBI) has issued the ‘Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) Guidelines, 2026’.

The guidelines prescribe the procedure for preparation of a panel of Insolvency Professionals (IPs) for appointment as Interim Resolution Professionals (IRPs), Liquidators, Resolution Professionals (RPs) and Bankruptcy Trustees under the insolvency framework.

1. Objective of the Guidelines

The guidelines aim to establish a structured and transparent framework for recommending eligible Insolvency Professionals for appointment in insolvency, liquidation and bankruptcy proceedings.

The framework is intended to facilitate timely appointments, ensure professional competence and strengthen efficiency in insolvency administration.

2. Preparation of Panel of Insolvency Professionals

The guidelines prescribe a mechanism for preparing a panel of Insolvency Professionals who may be recommended for appointment as:

• Interim Resolution Professionals (IRPs)
• Liquidators
• Resolution Professionals (RPs)
• Bankruptcy Trustees

The panel shall be prepared in accordance with the eligibility conditions and procedural requirements specified in the guidelines.

3. Eligibility Norms for Insolvency Professionals

The guidelines lay down norms relating to eligibility of Insolvency Professionals for inclusion in the panel.

The eligibility framework generally covers aspects relating to:

• Registration status and validity
• Professional standing and disciplinary record
• Eligibility to undertake assignments under the Insolvency and Bankruptcy Code
• Other prescribed conditions applicable to Insolvency Professionals

Only eligible and compliant professionals meeting the specified criteria may be considered for empanelment.

4. Procedure for Recommendation and Panel Formation

The guidelines also prescribe the process for:

• Preparation of the panel of Insolvency Professionals
• Recommendation of names for appointment
• Categorisation or selection based on applicable criteria
• Updating and administration of the panel

The structured process seeks to improve consistency and transparency in appointments.

5. Conditions Applicable to Insolvency Professionals

The guidelines prescribe conditions applicable to Insolvency Professionals included in the panel.

These conditions relate to conduct, eligibility continuity, assignment-related obligations and compliance with regulatory requirements while acting as IRPs, Liquidators, RPs or Bankruptcy Trustees.

6. Objective of the Framework

The guidelines are intended to ensure transparent, efficient and merit-based recommendation of Insolvency Professionals for key roles under the insolvency resolution and bankruptcy process.

The move is expected to improve institutional efficiency, support timely appointments and strengthen confidence in the insolvency ecosystem.

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