IBBI to form 'common panel' of insolvency

16 Jun 2023 CW Team

Beginning on July 1, the bankruptcy regulator will create a "common panel" of insolvency professionals (IPs) from among those registered with it and provide the adjudicating authority with a list in advance from which to select different cases of settlement or liquidation.

At the meantime, the National Company Law Tribunal (NCLT) must refer the IP's name to the Insolvency and Bankruptcy Board of India (IBBI) in a corporate insolvency resolution procedure (CIRP).

According to the regulator, the proposed change will "avoid administrative delays" in the nomination of IPs and speed up the resolution of insolvency. According to the IBBI, this list of IPs will also be presented to the Debt Recovery Tribunal for handling individual insolvency cases.

The regulatory body stated in its most recent set of rules, dated June 12, that "the board will prepare a common panel of IPs for appointment as IRP (interim resolution professional), liquidator, RP (resolution professionals), and BT (bankruptcy trustee) and share the same with the AA (adjudicating authority)".

The panel will be followed by an updated one after a six-month validity period. Between July 1 and December 31, the first panel will be in effect.

IPs are required to submit their expressions of interest for membership in such a panel by June 25 according to the regulator. By June 30, it will deliver the panel to the adjudicating body.

Infrastructure Transport

27 Jun 2026

Noida Airport Fuels NCR Realty Growth

The start of commercial operations at Noida International Airport has recently emerged as a major trigger for real estate growth across Noida, Greater Noida and the Yamuna Expressway region. The airport is expected to improve regional connectivity and support the next phase of development in eastern NCR.The airport, inaugurated on 28 March, has begun passenger services, while cargo operations are also expected to strengthen its role as an economic and logistics hub. Its operationalisation is expected to reduce dependence on Delhi’s Indira Gandhi International Airport for residents and busine..

thyssenkrupp and GlobalLogic Form AI Alliance

thyssenkrupp AG and GlobalLogic, a Hitachi Group company, have recently formed a strategic alliance to deploy autonomous robotics and Physical AI across heavy industry operations. The partnership aims to improve safety, reduce engineering bottlenecks and accelerate industrial transformation at scale.The alliance brings together thyssenkrupp’s industrial expertise with Hitachi’s innovation capabilities. It includes GlobalLogic, Method and Hitachi America R&D, creating a “Lab-to-Scale” pipeline that connects research, digital strategy, design and enterprise software engineering for i..

Platinum Corp Launches Luxury Suites in Santacruz

Platinum Corp has recently launched Platinum Stellar: Bespoke Presidential Suites, a premium residential project in Santacruz West, Mumbai. The development is positioned as a boutique luxury offering for homebuyers seeking expansive layouts, privacy and personalised living experiences.Located on Main Avenue, the project has been designed as a low-density, high-end residential address with spacious homes starting from 2,500 sq ft and extending to full-floor residences. The project targets HNIs, business owners and legacy residents from the Bandra-Khar-Santacruz belt.Platinum Stellar has been de..