Ms. Suman Saxena takes charge as the Whole Time Member of the Insolvency and Bankruptcy Board of India (IBBI)


Ms. Suman Saxena took charge here today as the Whole Time Member, Insolvency and Bankruptcy Board of India (IBBI).

Ms Saxena will look after Research and Regulation Wing comprising Corporate Insolvency, Corporate Liquidation, Individual Insolvency, Individual Bankruptcy, Research and Publications, Data Management and Dissemination and Advocacy.

She will also look after National Insolvency Programme, Continuing Professional Programme, and Knowledge Management and Partnership.

Ms. Saxena served as a member of the Indian Audit and Accounts Service for over 35 years. Her last assignment was Deputy Comptroller and Auditor General, where she oversaw three important sectors, namely, defence, communications and railways.

She has also been the Director of National Academy of Audit and Accounts.

ESTABLISHMENT OF IBBI

The Insolvency and Bankruptcy Board of India was established on October 1, 2016 in accordance with the provisions of The Insolvency and Bankruptcy Code, 2016.

THE BOARD

S.No Name Designation Ministry/Department
1 Dr. M. S. Sahoo Chairperson Insolvency and Bankruptcy Board of India
2 Sh. Ajay Tyagi Additional Secretary Ministry of Finance
3 Sh. Amardeep Singh Bhatia Joint Secretary Ministry of Corporate Affairs
4 Sh. G.S.Yadav Joint Secretary and Legal Adviser Ministry of Law
5 Sh. Unnikrishnan A. Legal Adviser Reserve Bank of India

PREAMBLE

The Preamble of the Insolvency and Bankruptcy Code describes the basic functions of the Insolvency and Bankruptcy Code as “…to consolidate and amend the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of the value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders including alteration in the order of priority of payment of Government dues and to establish an Insolvency and Bankruptcy Code of India, and for matters connected therewith or incidental thereto.”

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