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IBBI amends insolvency professionals norms; changes experience criteria, number of assignments capped to ten

July 23, 2021
IBBI notifies the IBBI (Insolvency Professionals) (Second Amendment) Regulations, 2021. Amendment has been made to Rule 5 of the aforesaid regulations which prescribes qualification and experience for IPs. Now individuals can be enrolled as IP after having completed ‘limited solvency exam’ and pre-registration course and having 10 yrs in the field of law or 10 yrs in Management after qualifying PG diploma in management, or 15 yrs of experience in management after receiving a bachelor’s degree.
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