What is in news : The Insolvency and Bankruptcy Board of India (IBBI) celebrated its Fifth Annual Day

About :

• Regulating authority for insolvency and bankruptcy proceedings in the country.
• Oversees the activities of bodies such as the Insolvency Professional Agencies (IPA), Insolvency Professionals (IP) and Information Utilities (IU), Registered Valuers, and Registered Valuer Organisations.
• Established as a statutory body in 2016 under the Insolvency and Bankruptcy Code, 2016.
• Makes and implements rules governing the corporate insolvency resolution process
• Major pillar in the implementation of the IBC that implements the insolvency and reorganisation resolution process
• Regulates both a profession and the processes.