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Of the 4205 IPs registered till date, registrations of 7 IPs have been cancelled The Regulations provide that an IP shall be eligible to obtain an AFA if he has
through disciplinary action, and registrations of 2 IPs have been cancelled QRW DWWDLQHG WKH DJH RI \HDUV 7DEOH SUHVHQWV WKH DJH SURÀOH RI WKH ,3V
RQ IDLOLQJ WR IXOÀO WKH UHTXLUHPHQW RI ÀW DQG SURSHU SHUVRQ VWDWXV $V SHU registered as on September 30, 2022.
information available, 21 IPs have passed away. The registrations and
cancellations of registrations IPs, quarter wise, till September 30, 2022 are Table 17: Age Profile of IPs as on September 30, 2022
presented in Table 15.
Age Group Registered IPs IPs having AFAs#
(in years) IIIPI ICSI IIP IPA Total IIIPI ICSI IIP IPA Total
Table 15: Registration and Cancellation of Registration of IPs ICAI ICAI
12 7 0 19 5 2 0 7
Year / Quarter Regis- Regis- Cancelled during the period on Regis-
tered tered account of tered at 255 68 20 343 160 44 11 215
at the during the end
begin- the Disci- Failing to Death of the ! 949 387 53 1389 587 258 31 876
ning period plinary fulfil the period ! 774 324 97 1195 471 209 64 744
of the Process continuing
period require- ! 593 320 203 1116 340 198 137 675
ment of ! 45 38 18 101 NA NA NA NA
‘fit and
proper ! 2 6 3 11 NA NA NA NA
person’
status > 90 1 0 0 1 NA NA NA NA
Total 2631 1150 394 4175 1563 711 243 2517
2016 - 17 (Nov - Dec) # 0 977 0 0 0 977
# Excluding 610 AFAs which are expired / not renewed.
2016 - 17 (Jan - Mar) 0 96 0 0 0 96 NA: Not Applicable.
2017 – 18 96 1716 0 0 0 1812
Replacement of IRP with RP
2018 – 19 1812 648 4 0 0 2456
6HFWLRQ RI WKH &RGH SURYLGHV WKDW WKH &R& PD\ LQ LWV ÀUVW PHHWLQJ E\
2019 – 20 2456 554 0 1 5 3004
a majority vote of not less than 66% of the voting share of the FCs, either
2020 – 21 3004 506 0 1 5 3504
resolve to appoint the IRP as the RP or to replace the IRP by another IP to
2021 – 22 3504 549 1 0 8 4044 function as the RP. Under section 22(4) of the Code, the AA shall forward the
name of the RP, proposed by the CoC, under section 22(3)(b) of the Code,
Apr - Jun, 2022 4044 56 2 0 2 4096
WR ,%%, IRU LWV FRQÀUPDWLRQ DQG VKDOO PDNH VXFK DSSRLQWPHQW DIWHU VXFK
Jul - Sep, 2022 4096 80 0 0 1 4175
FRQÀUPDWLRQ +RZHYHU WR VDYH WLPH LQ VXFK UHIHUHQFH D GDWDEDVH RI DOO WKH
Total NA 4205 7 2 21 4175 IPs registered with the IBBI has been shared with the AA, disclosing whether
# Registration with validity of six months. These registrations expired by June 30, 2017. any disciplinary proceeding is pending against any of them and the status of
their AFAs. While the database is currently being used by various Benches
An individual with 10 years of experience as a member of the ICAI, ICSI, of the AA, in a few cases, the IBBI receives references from the AA and
,&0$, RU D %DU &RXQFLO RU \HDUV RI H[SHULHQFH LQ WKH ÀHOG RI ODZ promptly responds to it. Till September 30, 2022, as per updates available,
after receiving a Bachelor’s degree in law or 10 years of experience in a total of 1259 IRPs have been replaced with RPs. It is observed that IRPs in
management, after receiving a Master’s degree in Management or two year about 40% of CIRPs initiated by CD are replaced by RPs, in 32% of CIRPs
full time Post Graduate Diploma in Management or 15 years of experience initiated by OCs and in 21% of CIRPs initiated by FCs, as shown in Figure 19.
in management, after receiving a Bachelor’s degree is eligible for registration
as an IP on passing the Limited Insolvency Examination.
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for those aspiring to take up the profession of IP as a career without having to
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RI &RUSRUDWH $IIDLUV WKH ÀUVW EDWFK DQG WKH VHFRQG EDWFK
22) have successfully completed the course. The third batch (2021-23) has
proceeded with internships while the fourth batch (2022-24) commenced
classes from July 1, 2022. In respect of National Law Institute University,
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7KH ,%%, KDV JUDQWHG UHJLVWUDWLRQV EDVHG RQ WKLV TXDOLÀFDWLRQ XQWLO
September 30, 2022.
Table 16 presents distribution of IPs as per their eligibility (an IP may be a Insolvency Professional Entities
member of more than one Institute) as on September 30, 2022. Of the 4175
IPs as on September 30, 2022, 408 IPs (constituting about nine per cent of During the quarter under review, two IPEs were recognised, and one
the total registered IPs) are female. IPE was derecognised. As on September 30, 2022, there were 96 IPEs
(Table 18).
Table 16: Distribution of IPs as per their Eligibility as on September
30, 2022 Table 18: IPEs as on September 30, 2022
No. of IPEs
Eligibility No. of IPs Quarter
Recognised Derecognised At the end of the Period
Male Female Total 2016 - 17 (Jan – Mar) 3 0 3
Member of ICAI 2106 206 2312 2017 - 18 73 1 75
Member of ICSI 580 125 705 2018 - 19 13 40 48
2019 - 20 23 2 69
Member of ICMAI 184 19 203
2020 - 21 14 0 83
Member of Bar Council 227 31 258
2021 - 22 10 2 91
Managerial Experience 648 26 674
Apr - Jun, 2022 4 0 95
*,3 4XDOLÀHG 22 1 23 Jul - Sep, 2022 2 1 96
Total 3767 408 4175 Total 142 46 96
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