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 Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..