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Date: 03-Dec-2024 Category: Extra Ordinary State: Union Government Country: India

Appointment of ex officio member in IBBI

Issued by Ministry of Corporate Affairs · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • This gazette notification announces the appointment of Shri Vaibhav Chaturvedi, Chief General Manager of the Reserve Bank of India (RBI), as an ex-officio member of the Insolvency and Bankruptcy Board of India (IBBI).
  • Shri Chaturvedi will represent the RBI on the IBBI board.

Key Changes

  • Shri Vaibhav Chaturvedi, Chief General Manager, Reserve Bank of India, is appointed as an ex-officio member of the Insolvency and Bankruptcy Board of India.
  • This appointment is made under the provisions of clause (c) of sub-section (1) of section 189 of the Insolvency and Bankruptcy Code, 2016.
  • The appointment is to ensure representation of the Reserve Bank of India on the IBBI board.

Impact Analysis

Reserve Bank of India (RBI)

  • Action Item: RBI should ensure Shri Chaturvedi is briefed on all relevant matters and is prepared to actively participate in IBBI meetings.

Insolvency and Bankruptcy Board of India (IBBI)

  • Action Item: IBBI should ensure seamless onboarding of Shri Chaturvedi and provide all necessary resources for his effective participation.

Other Stakeholders

  • Action Item: Monitor future decisions and regulations from IBBI and RBI for any indirect impact.

Key Entities Referenced

Insolvency and Bankruptcy Board of India (IBBI): The regulatory body that oversees insolvency and bankruptcy proceedings in India. Reserve Bank of India (RBI): The central bank of India. Insolvency and Bankruptcy Code, 2016: The law governing insolvency and bankruptcy proceedings in India. Shri Vaibhav Chaturvedi: Chief General Manager, Reserve Bank of India, appointed as ex-officio member of IBBI.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 xxxGIDHxxx सी.जी.-डी.एल.-अ.-04122024-259157 xxxGIDExxx CG-DL-E-04122024-259157 असाधारण EXTRAORDINARY भाग I—खण्ड 2 PART I—Section 2 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 41] नई दिल्ली, मगं लवार, दिसम्ब र 3, 2024/अग्रिार्ण 12, 1946 No. 41] NEW DELHI, TUESDAY, DECEMBER 3, 2024/AGRAHAYANA 12, 1946 कारपोरेट कार् यमत्रं ालर् अजधसचू ना नई दिल्ली, 3 दिसम् बर, 2024 स.ं 30/03/2016-इंसोल्वसें ी.—केन्द्रीर् सरकार, दिवाला और िोधन अक्षमता संजिता, 2016 (2016 का 31) की धारा 189 की उप-धारा (1) के खंड (ग) के प्रावधानों के अनुसार, श्री वैभव चतुवेिी, मुख्र् मिाप्रबंधक, भारतीर् ररज़व य बैंक को उक्त बोडय म ें भारतीर् ररज़वय बैंक का प्रजतजनजधत्व करने के जलए भारतीर् दिवाला और िोधन अक्षमता बोडय म ें पिेन सिस्ट्र् के रूप म ें जनर्ुक्त करती ि।ै अनीता िाि आकेल्ला, संर्क्ु त सजचव MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 3rd December, 2024 No. 30/03/2016-Insolvency.—In accordance with the provisions of clause (c) of sub-section (1) of section 189 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints Shri Vaibhav Chaturvedi, Chief General Manager, Reserve Bank of India as the ex-officio member in the Insolvency and Bankruptcy Board of India to represent the Reserve Bank of India in said Board. ANITA SHAH AKELLA, Jt. Secy. 7832 GI/2024 Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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