Centre Appoints Ashutosh Mishra as Ex-Officio Member of IBBI Board Representing Law Ministry
Court / Authority
Insolvency & Bankruptcy Board
Update / Judgement Date
17 Jul 2026
Source
WCP News Bulletin
Author
Manas Yadav — WCP Legal Desk
Reading Time
1 min read
View Count
1
The Central Government has appointed Shri Ashutosh Mishra, Additional Secretary, as an ex-officio member of the Insolvency and Bankruptcy Board of India (IBBI), representing the Ministry of Law and Justice. The appointment has been made under Section 189(1)(c) of the Insolvency and Bankruptcy Code, 2016, through a notification issued by the Ministry of Corporate Affairs and published in the Gazette of India on 11 February 2026.
Under the statutory framework, the IBBI Board includes representatives from key ministries to ensure coordinated policy oversight of India’s insolvency regime. As an ex-officio member, Mishra will participate in regulatory and policy deliberations concerning insolvency professionals, resolution processes, and market institutions operating under the Code.
The move reinforces inter-ministerial engagement in strengthening the insolvency ecosystem, particularly in areas involving legal interpretation, regulatory reforms, and institutional governance. The appointment takes effect immediately upon publication of the notification in the official Gazette.
Full Judgement / Attachment
Full Judgement
Frequently asked questions about Insolvency & Bankruptcy Board
- What is the IBBI?
- The Insolvency and Bankruptcy Board of India, set up on 1 October 2016 under the Insolvency and Bankruptcy Code, 2016 (IBC), regulates insolvency professionals, insolvency professional agencies, information utilities and registered valuers. It also frames the regulations for insolvency processes.
- When can insolvency be started against a company?
- A financial creditor, an operational creditor or the company itself can apply to the National Company Law Tribunal (NCLT) once there is a default of at least ₹1 crore. On admission, a moratorium starts and an interim resolution professional takes charge.
- How long does the corporate insolvency process take?
- The Code provides 180 days for the corporate insolvency resolution process (CIRP), extendable up to an overall limit of 330 days, including time spent in litigation. In practice, many cases take longer. The IBC (Amendment) Act, 2026, largely in force from 26 May 2026, requires the NCLT to decide admission applications within 14 days and to record reasons for any delay.
- Where can an NCLT insolvency order be appealed?
- An appeal lies to the National Company Law Appellate Tribunal (NCLAT) within 30 days, extendable by up to 15 days for sufficient cause. A further appeal lies to the Supreme Court on a question of law.
- How can White Collar Professional help with a insolvency matter?
- Post your requirement on White Collar Professional to receive proposals from verified Insolvency Professionals, Chartered Accountants and Advocates, compare them, and pay securely through the platform. This page also tracks the latest insolvency IBC and IBBI updates as they are reported.
