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India Business Bulletin (April 2018)

The Amendment, which came into effect from 1 April 2018, has constricted the entry barriers for insolvency professionals and has also specified a time limit to identify resolution applicants to 105 days from the insolvency commencement date. According to the amendment, an individual shall be eligible for registration as an insolvency professional if he/she has passed the Limited Insolvency Examination within the preceding 12 months and has completed a pre-registration educational course from an insolvency professional agency, as per the requirement of Insolvency and Bankruptcy Board of India (“IBBI”).

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