Insolvency Professional Entities are qualified to Appoint as Resolution Professionals: NCLT Holds in Favour of Piramal Capital

It was observed that the IBBI recognizes IPEs under the IBBI (Insolvency Professionals) Regulations, 2016 and is empowered under Section 240(2)(zzi) of the IBC to make regulations regarding the categories of professionals or persons, their qualifications, and experience.
By Yogitha S. Yogesh - On July 26, 2024 8:43 pm - 2 mins read
NCLT - IBBI - Insolvency and Bankruptcy Board of India - National Company - Law Tribunal - TAXSCAN

The National Company Law Tribunal( NCLT ) held that Insolvency Professional Entities ( IPEs ) are qualified to be appointed as Resolution Professionals ( RPs ) under the Insolvency and Bankruptcy Code, 2016. Further viewed that the Insolvency and Bankruptcy Board of India ( IBBI ) has the authority to regulate and recognize IPEs as…

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