---
title: "IBBI: India's Insolvency Regulator Explained"
description: "The Insolvency and Bankruptcy Board of India (IBBI) regulates insolvency professionals under the IBC, 2016, crucial for UPSC GS3 economy preparation."
url: "https://modeldiplomat.com/learn/glossary/insolvency-and-bankruptcy-board-of-india"
---

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Model Diplomat Research Team · Last reviewed June 22, 2026

TL;DR

- The Insolvency and Bankruptcy Board of India is the statutory regulator that oversees insolvency professionals, agencies, and information utilities under India's Insolvency and Bankruptcy Code, 2016.
- How does the IBBI differ from the NCLT?
- Under which provision was the IBBI established?
- What three categories of entities does the IBBI regulate?
- Why is the IBBI significant for India's banking sector?

[Civil Service & Diplomatic Exams](https://modeldiplomat.com/learn/civil-services/glossary)Updated June 22, 2026

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## Timeline

1. 1 October 2016

   The Insolvency and Bankruptcy Board of India (IBBI) was established on under Section 188 of the Insolvency and Bankruptcy Code, 2016 (IBC), the omnibus stat…

2. 28 May 2016

   The Insolvency and Bankruptcy Board of India (IBBI) was established on 1 October 2016 under Section 188 of the Insolvency and Bankruptcy Code, 2016 (IBC), th…

3. 15 November 2019

   Satish Kumar Gupta\* (), affirmed the primacy of the committee of creditors' commercial wisdom and operated entirely within the IBBI's regulatory framework.

4. 25 March 2020

   The suspension of fresh CIRP initiation during the COVID-19 pandemic under Section 10A, effective , and the persistent vacancies on NCLT benches have further…

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Example

In June 2017, the Reserve Bank of India directed banks to refer twelve large corporate defaulters, including Essar Steel and Bhushan Steel, to the NCLT under the IBC, a process administered through the IBBI's resolution framework.

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