Executive Summary:
This document contains the Insolvency and Bankruptcy Board of India (IBBI) Engagement of Research Associates and Consultants Amendment Regulations, 2019. It amends the 2017 regulations regarding the engagement of research associates and consultants. The amendment substitutes Schedule I of the 2017 regulations, specifying qualifications for these positions. These regulations came into force on July 23, 2019.
Key Points / Main Content:
* **Amendment Overview:**
* The regulations amend the Insolvency and Bankruptcy Board of India Engagement of Research Associates and Consultants Regulations, 2017.
* Schedule I of the 2017 Regulations is replaced.
* **Title and Commencement:**
* The regulations are called the Insolvency and Bankruptcy Board of India Engagement of Research Associates and Consultants Amendment Regulations, 2019.
* The regulations came into force on the date of their publication in the Official Gazette (July 23, 2019).
* **Revised Schedule I (Qualifications):**
* Details the essential and desirable qualifications for Research Associates and Consultants in the following disciplines:
* Economics
* Law
* Business Management
* Insolvency
* Valuation
Impact Analysis:
* **Insolvency and Bankruptcy Board of India (IBBI):**
* Impact: The IBBI is responsible for implementing and enforcing the amended regulations.
* Action Required: Update internal processes and guidelines to reflect the new qualification requirements for engaging research associates and consultants.
* **Prospective Research Associates and Consultants:**
* Impact: Individuals seeking positions as Research Associates and Consultants with the IBBI must now meet the revised qualification criteria outlined in the amended Schedule I.
* Action Required: Review the revised Schedule I to ensure they meet the essential and desirable qualifications for their desired discipline.
Key Entities Referenced
Insolvency and Bankruptcy Board of India (IBBI): A regulatory body in India responsible for the implementation of the Insolvency and Bankruptcy Code.
Insolvency and Bankruptcy Code, 2016: A law in India that consolidates and amends the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals.
Insolvency and Bankruptcy Board of India Engagement of Research Associates and Consultants Regulations, 2017: Regulations established by the IBBI regarding the engagement of research associates and consultants.
Insolvency and Bankruptcy Board of India Engagement of Research Associates and Consultants Amendment Regulations, 2019: Amendments made in 2019 to the 2017 Regulations regarding the engagement of research associates and consultants by the IBBI.
Advocates Act, 1961: An act of the Parliament of India which regulates the legal profession in India.
Institute of Chartered Accountants of India: A professional accounting body in India.
Institute of Cost Accountants of India: A professional accounting body in India.
Companies Registered Valuers and Valuation Rules, 2017: Rules pertaining to registered valuers under the Companies Act, 2013.
jftLVªh laö Mhö ,yö&33004@99 REGD. NO. D. L.-33004/99
vlk/kj.k
EXTRAORDINARY
Hkkx III—[k.M 4
PART III—Section 4
izkf/dkj ls izdkf'kr
PUBLISHED BY AUTHORITY
la- 260] ubZ fnYyh] eaxyokj] tqykbZ 23] 2019@Jko.k 1] 1941
No. 260] NEW DELHI, TUESDAY, JULY 23, 2019/ SHRAVANA 1, 1941
भभभभााााररररततततीीीीयययय (cid:1)(cid:1)(cid:1)(cid:1)ददददववववााााललललाााा औऔऔऔरररर शशशशोोोोधधधधनननन अअअअ(cid:7)(cid:7)(cid:7)(cid:7)ममममतततताााा बबबबोोोोडडडड (cid:13)(cid:13) (cid:13)(cid:13)
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:1)द(cid:3)ली, 23 जुलाई, 2019
भभभभााााररररततततीीीीयययय (cid:1)(cid:1)(cid:1)(cid:1)ददददववववााााललललाााा औऔऔऔरररर शशशशोोोोधधधधनननन अअअअ(cid:7)(cid:7)(cid:7)(cid:7)ममममतततताााा बबबबोोोोडडडड(cid:13)(cid:13) (cid:13)(cid:13) ((((अअअअननननससुुससुु धधंंधधंं ाााानननन ससससहहहहााााययययकककक(cid:18)(cid:18)(cid:18)(cid:18) औऔऔऔरररर ससससललललााााहहहहककककाााारररर(cid:18)(cid:18)(cid:18)(cid:18) कककक(cid:20)(cid:20)(cid:20)(cid:20) ििििननननययययििुुििुु (cid:24)(cid:24)(cid:24)(cid:24))))) ((((ससससशशंंशशंं ोोोोधधधधनननन))))
ििििववववििििननननययययमममम,,,, 2222000011119999
फफफफाााा....सससस...ंं.ंं आआआआईईईई....बबबबीीीी....बबबबीीीी....आआआआईईईई....////2222000011119999----22220000////जजजजीीीी....एएएएनननन....////आआआआरररर....ईईईई....जजजजीीीी....000044441111....————भारतीय (cid:1)दवाला और शोधन अ(cid:9)मता
बोड,(cid:15) (cid:1)दवाला और शोधन अ(cid:9)मता संिहता, 2016 (2016 का 31) क(cid:17) धारा 240 (cid:18)ारा (cid:20)द(cid:21) शि(cid:24)य(cid:26) का (cid:20)योग
करते (cid:28)ए, भारतीय (cid:1)दवाला और शोधन अ(cid:9)मता बोड(cid:15) (अनुसंधान सहायक(cid:26) और सलाहकार(cid:26) क(cid:17) िनयिु (cid:24))
िविनयमन, 2017 का संशोधन करन े के िलए िन"िलिखत िविनयम बनाता ह,ै अथात(cid:15) ्: -
1. (1) इन िविनयम(cid:26) का संि(cid:9)& नाम भारतीय (cid:1)दवाला और शोधन अ(cid:9)मता बोड(cid:15) (अनसु ंधान सहायक(cid:26) और
सलाहकार(cid:26) क(cid:17) िनयुि(cid:24)) (सशं ोधन) िविनयम, 2019 ह ै।
(2) ये राजप) म * उनके (cid:20)काशन क(cid:17) तारीख को (cid:20)वृ(cid:21) ह(cid:26)ग े ।
2. भारतीय (cid:1)दवाला और शोधन अ(cid:9)मता बोड(cid:15) (अनसु ंधान सहायक(cid:26) और सलाहकार(cid:26) क(cid:17) िनयुि(cid:24)) िविनयमन,
2017 म*, अनुसूची I के -थान पर िन"िलिखत अनुसूची रखी जाएगी, अथा(cid:15)त:्–
3758 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
““““अअअअननननससुुससुु चचूूचचूू ीीीी
I
((((ििििववववििििननननययययमममम 5555 ददददििेेििेे खखखखएएएए))))
अअअअननननससुुससुु धधधधंंंं ाााानननन अअअअहहहह(cid:6)त(cid:6)त(cid:6)त(cid:6)तााााएएएए ंंंं
ससससहहहहााााययययकककक/ससससललललााााहहहहककककाााारररर ककककाााा
आआआआवववव(cid:13)(cid:13)(cid:13)(cid:13)ययययकककक ववववााााछछंंछछंं ननननीीीीयययय
अअअअ(cid:2)(cid:2)(cid:2)(cid:2)ययययययययनननन----ििििववववषषषषयययय
(1) (2) (3)
क. अथ(cid:3)शा(cid:6)////लोक नीित (cid:7)कसी मा(cid:13)यता(cid:16)ा(cid:17) िव(cid:20)िव(cid:21)ालय या सं(cid:24)था (क) सतत उ& शै(िणक (cid:16)दशन(cid:3) ;;;;
से अथ(cid:3)शा(cid:6) या लोक नीित म(cid:28) (cid:29)ातको(cid:30)र
(ख) (cid:7)कसी ,याित(cid:16)ा(cid:17) िव(cid:20)िव(cid:21)ालय या सं(cid:24)था से
िड!ी।
अथ(cid:3)शा(cid:6) या उसस ेसि-कट सबं 0 (े1 म (cid:28)डॉ3टरेट
िड!ी;;;;
(ग) िविनयामक//// कारबार िविध//// अथश(cid:3) ा(cid:6) म (cid:28)
िड!ी////िड4लोमा//// (cid:16)माणप1।
ख. िविध (iiii) (cid:7)कसी मा(cid:13)यता(cid:16)ा(cid:17) िव(cid:20)िव(cid:21)ालय या (क) सतत उ& शै(िणक (cid:16)दशन(cid:3) ;;;;
सं(cid:24)था से एलएल.बी. या समतु9य,,,, और
(ख) (cid:7)कसी ,याित(cid:16)ा(cid:17) िव(cid:20)िव(cid:21)ालय या सं(cid:24)था से
िविध या उससे सि-कट संब0 (े1 म(cid:28)
(iiiiiiii) अिधव;ा अिधिनयम,,,, 1961(1961 का
एलएल.एम.////डॉ3टरेट िड!ी;;;;
25) के अधीन ग?ठत (cid:7)कसी िविधA प?रषद ्
((((बार काउंिसल)))) म (cid:28)अिधव;ा के Dप म(cid:28) (ग) िविनयामक//// कारबार िविध//// अथश(cid:3) ा(cid:6) म (cid:28)
नामां(cid:7)कत होन ेके िलए अFहत।
िड!ी////िड4लोमा//// (cid:16)माणप1 ।
ग. कारबार (cid:16)बंधन (cid:7)कसी मा(cid:13)यता(cid:16)ा(cid:17) िव(cid:20)िव(cid:21)ालय या स(cid:24)ं थान (क) आवKयक (cid:24)तभं म (cid:28)उि9लिखत अहत(cid:3) ाL म (cid:28)से
से कारबार (cid:16)बंधन म (cid:28)(cid:29)ातको(cid:30)र एक स ेअिधक अहत(cid:3) ा;;;;
िड!ी////(cid:29)ातको(cid:30)र िड4लोमा//// मा(cid:24)टर
(ख) सतत उ& शै(िणक (cid:16)दशन(cid:3) ;;;;
िड!ी////भारतीय चाट(cid:3)ड (cid:3)अकाउंट(cid:28)Iस सं(cid:24)थान का
सद(cid:24)य////भारतीय लागत अकाउट(cid:28)Iस सं(cid:24)थान (ग) (cid:7)कसी ,याित(cid:16)ा(cid:17) िव(cid:20)िव(cid:21)ालय////सं(cid:24)था स े
का सद(cid:24)य////भारतीय कंपनी सिचव सं(cid:24)थान का िविध////(cid:16)बंधन////लेखा////िव(cid:30)////सि-कट संब0 (े1 म (cid:28)
सद(cid:24)य। डॉ3टरेट िड!ी;;;;
(घ) िविनयामक//// कारबार िविध//// अथ(cid:3)शा(cid:6) म(cid:28)
िड!ी////िड4लोमा ////(cid:16)माणप1 ।
घ. (cid:7)दवाला (iiii) भारतीय (cid:7)दवाला और शोधन अ(मता (क) सतत उ& शै(िणक (cid:16)दशन(cid:3) ;;;;
बोड (cid:3)((cid:7)दवाला Nावसाियक) िविनयमन,,,,
(ख) िविनयामक//// कारबार िविध//// अथ(cid:3)शा(cid:6) म (cid:28)
2016 के िविनयम 5(ग) के अधीन
िड!ी////िड4लोमा//// (cid:16)माणप1;;;;
यथापिे (त अहत(cid:3) ाएं और अनभु व;;;; और
(ग) (cid:7)दवाला Nावसाियक के Dप म(cid:28) अनभु व ।
(iiiiiiii) सीिमत (cid:7)दवाला परी(ा म(cid:28) उ(cid:30)ीण(cid:3)।
ङ. मू9यांकन (iiii) कंपनी (रिज(cid:24)Qीकृत मू9याकं क और (क) सतत उ& शै(िणक (cid:16)दशन(cid:3) ;;;;
मू9याकं न) िनयम,,,, 2017 के िनयम 4 के
(ख) िविनयामक//// कारबार िविध//// अथ(cid:3)शा(cid:6) म (cid:28)¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 3
अधीन यथापिे (त अहत(cid:3) ा और अनभु व;;;; और िड!ी////िड4लोमा//// (cid:16)माणप1;;;;
(iiiiiiii) सुसंगत आि(cid:24)त वग(cid:3) (भिू म और भवन//// (ग) ससु ंगत आि(cid:24)त वग(cid:3) के रिज(cid:24)Qीकृत मू9याकं क के
Dप म (cid:28)अनुभव ।””””
संयं1 और मशीनरी//// (cid:16)ितभूितयां या िव(cid:30)ीय
आि(cid:24)तयां) कS मू9याकं न परी(ा म (cid:28)उ(cid:30)ीण।(cid:3)
डॉ. एम. एस. सा/, अ0य(cid:9)
[िव1ापन- /4/असा./146/19]
III
(cid:25)(cid:25)(cid:25)(cid:25)टटटट(cid:27)(cid:27)(cid:27)(cid:27)पपपपणणणण :::: भारतीय (cid:1)दवाला और शोधन अ(cid:9)मता बोड(cid:15) (अनुसंधान सहायक(cid:26) और सलाहकार(cid:26) क(cid:17) िनयुि(cid:24)) िविनयमन,
2017 भारत के राजप), असाधारण, भाग III, खंड 4, सं. 34, तारीख 31 जनवरी, 2017 म *अिधसचू ना
सं. आई.बी.बी.आई./2016-17/जी.एन./आर.ई.जी.006, तारीख 30 जनवरी, 2017 (cid:18)ारा (cid:20)कािशत (cid:1)कए
गए थे और इनम * अब तक कोई संशोधन नह3 (cid:1)कया गया ह ै।
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
NOTIFICATION
New Delhi, the 23rd July, 2019
Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) (Amendment)
Regulations, 2019
F. No. IBBI/2019-20/GN/REG041.—In exercise of the powers conferred by section 240 read with section 194
of the Insolvency and Bankruptcy Code, 2016 (No. 31 of 2016), the Insolvency and Bankruptcy Board of India hereby
makes the following regulations to amend the Insolvency and Bankruptcy Board of India (Engagement of Research
Associates and Consultants) Regulations, 2017, namely:—
1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Engagement of Research
Associates and Consultants) (Amendment) Regulations, 2019.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) Regulations,
2017, for Schedule I, the following Schedule shall be substituted, namely: -
“Schedule I
(See regulation 5)
Discipline of Qualifications
Research Essential Desirable
Associate /
Consultant
(1) (2) (3)
a. Economics / Post Graduate degree in Economics or Public (a) Consistent high academic performance;
Public Policy Policy from a recognised University or (b) Doctoral degree from a reputed University
Institution. or Institution in Economics or a closely related
area;
(c) Degree / Diploma / Certification in
Regulatory / Business Law / Economics.
b. Law (i) LL. B or equivalent from a recognised (a) Consistent high academic performance;
University or Institution, and (b) LL. M. / Doctoral degree from a reputed
(ii) Qualified to be enrolled as an Advocate in a University or Institution in Law or a closely
Bar Council constituted under the Advocate’s related area;
Act, 1961 (25 of 1961). (c) Degree / Diploma / Certification in
Regulatory / Business Law / Economics.
c. Business Post graduate degree / Post graduate diploma / (a) More than one of the qualifications
Management Master of Business Management from a mentioned in the essential column;
recognised University or Institute / A Member of (b) Consistent high academic performance;4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
the Institute of Chartered Accountants of India / (c) Doctoral degree from a reputed University /
A Member of Institute of Cost Accountants of Institution in law / management / accounts/
India / A Member of Institute of Company finance / a closely related area;
Secretaries of India. (d) Degree / Diploma / Certification in
Regulatory / Business Law / Economics.
d. Insolvency (i) Qualifications and experience as required (a) Consistent high academic performance;
under regulation 5(c) of the Insolvency and (b) Degree / Diploma / Certification in
Bankruptcy Board of India (Insolvency Regulatory / Business Law / Economics;
Professionals) Regulations, 2016; and (c) Experience as an insolvency professional.
(ii) Pass in the Limited Insolvency Examination.
e. Valuation (i) Qualification and experience as required under (a) Consistent high academic performance;
rule 4 of the Companies (Registered Valuers and (b) Degree / Diploma / Certification in
Valuation) Rules, 2017; and Regulatory / Business Law / Economics;
(ii) Pass in the Valuation Examination of the (b) Experience as a registered valuer of the
relevant asset class (Land and Building / Plant relevant asset class.”.
and Machinery / Securities or Financial Assets)
Dr. M. S. SAHOO, Chairperson
[ADVT.-III/4/Exty./146/19]
Note : Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) Regulations,
2017 were published vide notification No. IBBI/2016-17/GN/REG006 dated 30th January, 2017 in the Gazette of
India, Extraordinary, Part III, Section 4, No. 34 on 31st January, 2017 and these have not been amended so far.
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.