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
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CS Harshita 