The IFC will provide advisory services to the 'Insolvency and Bankruptcy Board of India (IBBI)' to support it in strengthening the implementation of India's new insolvency and bankruptcy framework, the Insolvency and Bankruptcy Code, 2016.
This project focuses on four key areas:
1. Building the capacity of insolvency professionals in the country and of IBBI's own officers, through dedicated and customized training programs.
2. Assisting the IBBI in the development of a comprehensive National Insolvency Professionals Program.
3. Working with the IBBI in developing the functional and technical specifications for an IT system that will support them in fulfilling their mandate as the regulator for insolvency and bankruptcy in the country.
4. Assisting the IBBI in development of technology standards and identification of information and data needs.
The Insolvency and Bankruptcy Board of India (IBBI) is the regulator for overseeing insolvency proceedings and entities like Insolvency Professional Agencies, Insolvency Professionals and Information Utilities in India. It was established on 1st October 2016 and given statutory powers by Lok Sabha on 5 May 2016.
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No contact information provided at the time of disclosure.
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