IBBI proposes to allow Cos., LLPs & Partnership Firm to get enrolled as Insolvency Professionals
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- Last Updated on 16 June, 2022
Discussion Paper on enabling entities to become insolvency professional, Dated 14.06.2022
The IBBI has proposed a regulatory architecture allowing the “enable entities” (viz a company, LLP and registered partnership firm) to enrol, register and act as an IP. IBBI said that this is going to be a significant policy change in the profession of IP. Further, it may consider allowing the existing Insolvency Professional Entity (IPE) to become IPs since they have the infrastructure and requisite exposure in providing support services to IPs. The Board proposed that existing IPEs, after registration, may also continue to provide support services to IPs.
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