The Insolvency and Bankruptcy Board of India (IBBI) on February 11, 2025, issued an intimation to the Board on the appointment of insolvency professionals under various processes under the Code.
The following has been stated namely: -
• It states that the IBBI has refined the Assignment Module to mandate IPs to update all appointments, streamlining compliance and ensuring thorough record-keeping.
• It states that IPs shall add assignments on the IBBI portal upon appointment in CIRP, liquidation, voluntary liquidation, personal guarantor insolvency, bankruptcy, and financial service provider proceedings.
• It further provides that IPs shall add new assignments within three days, ongoing cases by February 28, 2025, closed cases by March 31, 2025, and closed personal guarantor cases by April 30, 2025.
[Notification no. - IBBI/LIQ/82/2025]
