Handbook on Ethics for Insolvency Professionals: Ethical and Regulatory Framework - Summary
The Handbook on Ethics for Insolvency Professionals is essential for understanding the ethical and regulatory framework surrounding this important field. Over the past four years, particularly since December 2016, the professional landscape for Insolvency Professionals (IPs) has changed significantly. As of 30th September 2020, there are almost 3,200 IPs registered with the Insolvency and Bankruptcy Board of India (IBBI/Board).
Importance of Insolvency Professionals
Insolvency Professionals are vital in the creditor-in-control process. They act as a crucial link between the Adjudicating Authority, the Committee of Creditors (CoC), and other stakeholders involved in the insolvency resolution process. An IP holds the authority of the board of directors, overseeing the management of the corporate debtor’s affairs.
Key Roles of an IP
By playing a key role in the corporate insolvency resolution process (CIRP), Insolvency Professionals help steer the path towards solutions that benefit all stakeholders. Their responsibilities ensure compliance with legal and regulatory requirements, fostering trust and transparency in the resolution process.
You can download the Handbook on Ethics for Insolvency Professionals: Ethical and Regulatory Framework in PDF format from the official link given below or an alternative link for more details. 📥
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