New Delhi, May 22 -- The Insolvency and Bankruptcy Board of India (IBBI) has introduced a structured empanelment framework to streamline and expedite the appointment of insolvency professionals by the National Company Law Tribunal (NCLT) and Debt Recovery Tribunal (DRT), with unjustified refusal of assignments attracting a six-month exclusion from the panel.

The guidelines - formally titled the Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) Guidelines, 2026 - were issued on May 18 and will remain in effect from July 1 to December 31, 2026.

How the Panel Will Be Constituted

Insolvency professionals interested in empanelment must submit F...