Insolvency and Bankruptcy Board of India Recognises Insolvency Professional Entities (IPE)

A limited liability partnership, A Registered Partnership Firm or a Company may be recognised by the Board as an IPE if:

(a) A majority of the partners of the limited liability partnership or registered partnership firm are registered as insolvency professionals; or

 (b) A majority of the whole-time directors of the company are registered as insolvency professionals, as the case may be.

 An IPE is jointly and severally liable for all acts or omissions of its partners or directors as IPs committed during such partnership or directorship.

The Board has recently recognised two IPEs as under:

S. No Name of IPE Constitution Address
1 IRR Insolvency Professionals Private Limited Limited Company D-55, Defence Colony, New Delhi – 110024
2 AAA Insolvency Professionals LLP Limited Liability Partnership E-10A, Lower Ground Floor, Kailash Colony, New Delhi -110048

For Detailed Information: http://ibbi.gov.in/press-release6march.html

 

Disclaimer: The entire content of this document have been prepared as per the information existing at the time of the preparation. The author of this blog does not take any responsibility of the same.

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