IBBI’s 2025 Guidelines for Insolvency Professional Panels

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  • Last Updated on 29 May, 2025

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insolvency professional guidelines

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:

  1. Face no pending disciplinary proceedings before IBBI or their IPA.
  2. Have no conviction by any court in the past three years.
  3. Hold a live Authorisation for Assignment (AFA) that extends at least to 31 Dec 2025.
  4. 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  • Repeal & savings clause – The 2024 guidelines stand repealed; actions already taken under them remain valid, ensuring legal continuity.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.

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied