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INSOLVENCY AND BANKRUPTCY NEWS

Table 10: Registered IPs and AFAs as on March 31, 2022 The Graduate Insolvency Programme (GIP) is the rst of its kind
City / Region Registered IPs IPs having AFA programme for those aspiring to take up the profession of IP as a career
IIIPI ICSI IIP IPA of ICAI Total IIIPI ICSI IIP IPA of ICAI Total without having to wait for acquiring the specied 10/15 years of
New Delhi 455 272 88 815 274 179 55 508 experience. The rst batch of GIP (2019-2021) conducted by Indian
Rest of Northern Region 483 207 73 763 282 126 41 449
Mumbai 409 149 39 597 241 86 27 354 Institute of Corporate Affairs has successfully been completed and IBBI has
Rest of Western Region 337 125 45 507 217 84 26 327 granted 16 registrations based on this qualication, until, March 31, 2022.
Chennai 145 86 18 249 80 57 9 146 Table 12 presents distribution of IPs as per their eligibility (an IP may be a
Rest of Southern Region 411 224 81 716 238 138 57 433 member of more than one Institute) as on March 31, 2022. Of the 4044 IPs
Kolkata 220 38 24 282 146 25 15 186 as on March 31, 2022, 388 IPs (constituting about nine per cent of the total
Rest of Eastern Region 78 28 9 115 47 17 6 70 registered IPs) are female.
Total Registered 2538 1129 377 4044 1525 712 236 2473
Figure 21 : Geographical Distribution of IPs as on March 31, 2022 Table 12: Distribution of IPs as per their Eligibility as on March 31, 2022
Eligibility No. of IPs
Male Female Total
JAMMU & Member of ICAI 2038 193 2231
KASHMIR
4 HIMACHAL Member of ICSI 575 121 696
PRADESH
ARUNACHAL
PUNJAB 5 PRADESH Member of ICMAI 183 18 201
122 UTTARAKHAND 1
CHANDIGARH Member of Bar Council 219 30 249
6 ASSAM
74 DELHI
HARYANA 14 Managerial Experience 626 25 651
208 815
BIHAR
UTTAR PRADESH
RAJASTHAN 12 GIP Qualied 15 1 16
237
107 Total 3656 388 4044
ASSAM
GUJARAT
207 The Regulations provide that an IP shall be eligible to obtain an AFA if he has
JHARKHAND not attained the age of 70 years. Table 13 presents the age prole of the IPs
MADHYA 14
PRADESH
WEST registered as on March 31, 2022.
78 BENGAL
DADAR AND 305
NAGAR HAVELI
CHHATTISGARH Table 13: Age Prole of IPs as on March 31, 2022
1
29
ODISHA Age Group (in years) Registered IPs IPs having AFA
51
MAHARASHTRA IIIPI ICSI IIP IPA ICAI Total IIIPI ICSI IIP IPA ICAI Total
785 TELANGANA ≤ 30 7 7 0 14 4 2 0 6
283
GOA
ANDHRA > 30 ≤ 40 280 77 15 372 173 57 8 238
3 PRADESH
44 > 40 ≤ 50 907 382 57 1346 581 258 32 871
KARNATAKA
195
> 50 ≤ 60 761 311 92 1164 457 205 55 717
PUDUCHERRY > 60 ≤ 70 538 310 196 1044 310 190 141 641
1
KERALA > 70 ≤ 80 42 36 14 92 NA NA NA NA
78
TAMILNADU
365 > 80 ≤ 90 2 6 3 11 NA NA NA NA
> 90 1 0 0 1 NA NA NA NA
Total 2538 1129 377 4044 1525 712 236 2473
NA: Not applicable
Of the 4069 IPs registered till date, registrations of ve IPs have been Replacement of IRP with RP
cancelled through disciplinary action, and registrations of two IPs cancelled
on failing to full the requirement of t and proper person status. As per Section 22(2) of the Code provides that the CoC may, in its rst meeting,
by a majority vote of not less than 66% of the voting share of the FCs,
information available, 18 IPs have passed away since their registrations. either resolve to appoint the IRP as the RP or to replace the IRP by another
The registrations and cancellations of registrations of IPs, quarter wise, till IP to function as the RP. Under section 22(4) of the Code, the AA shall
March 31, 2022 are presented in Table 11. forward the name of the RP, proposed by the CoC, under section 22(3)(b)
of the Code, to IBBI for its conrmation and shall make such appointment
Table 11: Registration and Cancellation of Registration of IPs after such conrmation. However, to save time in such reference, a
Year / Quarter Registered Registered Cancelled during the period on account of Registered database of all the IPs registered with the IBBI has been shared with the AA,
at the during the at the end
beginning period Disciplinary Failing to Death of the disclosing whether any disciplinary proceeding is pending against any of
of the Process Meet period
Eligibility them and the status of their AFAs. While the database is currently being
period Norms used by various Benches of the AA, in a few cases, the IBBI receives
2016 - 17 (Nov - Dec) # 0 977 0 0 0 977
references from the AA and promptly responds to it. Till March 31, 2022,
2016 - 17 (Jan - Mar) 0 96 0 0 0 96
as per updates available, a total of 1123 IRPs have been replaced with RPs,
2017 - 18 96 1716 0 0 0 1812
as shown in Figure 22. It is observed that IRPs in 40% of CIRPs initiated by
2018 - 19 1812 648 4 0 0 2456
CD are replaced by RPs, in 33% of CIRPs initiated by OCs and in 21% of
2019 - 20 2456 554 0 1 5 3004
CIRPs initiated by FCs.
2020 - 21 3004 506 0 1 5 3504
2021 - 22 3504 549 1 0 8 4044 Figure 22: Replacement of IRP with RP
Total NA 4069 5 2 18 4044
Note: # Registrations with validity of six months. These registrations expired by June 30, 2017 Replacement
40% of RP (all cases)
33%
An individual with 10 years of experience as a member of the ICAI, ICSI,
ICMAI or a Bar Council or 10 years of experience in the eld of law, after
receiving a Bachelor's degree in law or 10 years of experience in 21%
management, after receiving a Master's degree in Management or two year
full time Post Graduate Diploma in Management or 15 years of experience
in management, after receiving a Bachelor's degree is eligible for CD OC FC
registration as an IP on passing the Limited Insolvency Examination.
CIRP initiated by
20