Insolvency and Bankruptcy Board of India — what changed, and what to watch

2026-10-26 · leadership

The regulator for the end of the corporate life cycle: insolvency professionals, their agencies, information utilities, and the process rules under the Insolvency and Bankruptcy Code, 2016. For consumers it matters disproportionately — homebuyers became financial creditors under the IBC, so IBBI process rules decide whether flat-buyers in a stuck project recover money or watch it dissipate.

RegTrac Brief · 2026-10-26 · Statutory regulator · register as of 12 September 2026

What changed

2026-09-13 — Jayanti Prasad, Whole-Time Member, takes additional charge as IBBI Chairperson after Ravi Mital's tenure ends (turned 65); charge runs until 20 Nov 2026 or till a successor joins (Leadership source).
2026-07-16 — Calcutta High Court holds IBBI Chairperson cannot act as the Disciplinary Committee under IBC (Reform source).
2026-07-13 — Corporate Laws (Amendment) Bill, 2026 Clause 73 proposes IBBI as statutory valuation authority (Proposal source).
2026-06-08 — IBBI opens search for next Chairperson — succession process starts early under incumbent Ravi Mital (Leadership source).
Chairperson: Ravi Mital (since 2021-10 — Tenure ended 13 Sep 2026 on turning 65 (five-year term or age 65, whichever earlier); successor search had opened Jun 2026; attendance list of the 30th FSDC meeting (23 Oct 2026) records his successor in acting charge, succeeding M S Sahoo) (appointment source).
Chairperson (additional charge): Jayanti Prasad (since 2026-09 — Whole-Time Member; additional charge from 13 Sep 2026 — runs until his IBBI tenure completes 20 Nov 2026 or a successor is appointed and joins; 1986-batch IA&AS; substantive appointment pending, succeeding Ravi Mital) (appointment source).
Register position as rebuilt on 12 September 2026; every line above carries its own source.

Why it matters

Rule-making for the entire CIRP/liquidation pipeline; the 2026 amendment run (liquidation fourth amendment; CIRP fourth amendment in Jun 2026) kept rewriting committee-of-creditors and cost rules
Suspension and de-registration of professionals
Grievance handling: Grievance and Complaint Handling Regulations, amended Feb 2026
Statute and mandate: Insolvency and Bankruptcy Code, 2016 (Board constituted 1 Oct 2016) — IBBI official site · RegTrac register entry.

Who lobbies these decisions, and what consultation comments were filed, is the missing third layer — LobbyWatch (planned) — because regulators here do not systematically publish their comment trails; the accountability gaps are catalogued in the RegTrac register.

Who is affected

Grievance route: Grievance and Complaint Handling Regulations, 2017 (amended Feb 2026) (IBBI site).
If your builder is in CIRP: file your claim with the RP on time, keep the allotment proof; IBBI rules decide voting and recovery mechanics, but the clock is unforgiving.
Outcomes are poor and slowing: corporate resolutions hit a 13-quarter low in early 2026 (36 cases resolved in the quarter, per Times of India reporting) — the statutory outer limit of 330 days is routinely overshot.
The full route, with the register's own notes on escalation, is in the RegTrac register entry for IBBI.

What to watch

The regulator enforces the profession it oversees through committee structures that courts keep constraining: in Jul 2026 the Calcutta High Court held the Chairperson cannot act as the Disciplinary Committee under the IBC. Structural separation of prosecution and adjudication inside IBBI is unfinished business.
The IBC Amendment Act, 2026 bars resolution professionals from acting as liquidators in the same matter — a revolving-door fix forced by persistent practice.
The Corporate Laws (Amendment) Bill, 2026 (Clause 73) would make IBBI the country's statutory valuation authority — a major power expansion grafted onto an insolvency regulator; valuation is where insolvency money is made and lost.
Committee-of-creditors discretion (CoC is dominated by financial creditors) is where consumer claims get haircuts; IBBI writes those rules.
Every watchpoint above is tracked against the RegTrac register entry for IBBI, as rebuilt on 12 September 2026; no line here rests on information the register does not carry.

Evidence

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