Rescind IBBI circulars due to the provisions already provided in regulation- IBBI Circular No. IBBI/IP/55/2022 dated 09.11.2022
The Board conducted an exercise of review of regulations, circulars based on experience gained. It is observed that certain circulars are no longer required on account of being already provided in the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 [IP Regulation] or the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016 [Model Bye-Laws Regulations] or the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017 [IU Regulations], as the case may be. Accordingly, it has been decided to rescind circulars listed in the Annexure, with immediate effect. You are advised to take note of the above and follow the provisions of relevant Regulations.