Tag: NCLT

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IBBI to form ‘common panel’ of insolvency professional

Facts for Prelims (FFP) Source: Economic Times  Context: The Insolvency and Bankruptcy Board of India (IBBI) will create a “common panel” consisting of registered insolvency professionals (IPs). This list will be shared in advance with the adjudicating authority. For appointment as IRP (interim resolution professional), Liquidator, RP (resolution professional) and BT (bankruptcy trustee).   The …

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About NCLT and ITAT:

GS Paper 2 Topics Covered: Important statutory bodies.   Context: The government has appointed 31 people as judicial, technical and accountant members at the National Company Law Tribunal (NCLT) and the Income Tax Appellate Tribunal (ITAT). These developments assume significance as they come amid the Supreme Court flagging concerns about vacancies in various tribunals.   Background: …

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