The Appointments Committee of the Cabinet has named Ravi Mittal, former Sports Secretary, the Chairman of the Insolvency Regulator Insolvency and Bankruptcy Board of India.
- He will serve as the IBBI chief for five years or till he attains the age of 65 years, whichever is earlier.
About Insolvency and Bankruptcy Board of India (IBBI)
- The Insolvency and Bankruptcy Board of India was established on 1st October, 2016 under the Insolvency and Bankruptcy Code, 2016 (Code).
- It is a unique regulator: regulates a profession as well as processes. It has regulatory oversight over the Insolvency Professionals, Insolvency Professional Agencies, Insolvency Professional Entities and Information Utilities.
- It has also been designated as the ‘Authority’ under the Companies (Registered Valuers and Valuation Rules), 2017 for regulation and development of the profession of valuers in the country.
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