The Insolvency and Bankruptcy Board of India vide notification dated 3rd October, 2022 has issued the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2022. The amendment provides that no insolvency professional entity shall be enrolled as a professional member unless it has following qualifications:
- Recognized by the Board under the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016.
- Eligible to be registered as an insolvency professional with the Board.
