MS Sahoo is Chairman of Insolvency and Bankruptcy Board of India- Important (Download PDF)

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MS Sahoo a Financial markets expert was appointed as the Chairman of Union Finance Ministry constituted four-member Insolvency and Bankruptcy Board of India (IBBI). Serve as chairperson of IBBI for five years till 2021.

   Image of MS Sahoo

Image of MS Sahoo

Image of MS Sahoo

  • Was previously a member of the anti-trust regulator Competition Commission of India (CCI) prior to this appointment.
  • Was a member of capital markets regulator Securities and Exchange Board of India (SEBI).
  • Led the government appointed committees on depository receipts, domestic and overseas capital markets, and external commercial borrowing (ECBs).

Four members of IBBI are:

  1. Ajay Tyagi the Additional Secretary, Union Finance Ministry
  2. Amardeep Singh Bhatia the Joint Secretary, Union Ministry of Corporate Affairs
  3. GS Yadav the Joint Secretary, Department of Legal Affairs
  4. Unnikrishnan the Legal Advisor of the Reserve Bank of India

About Insolvency and Bankruptcy Board of India (IBBI)

  • IBBI directly applies to insolvency professionals, insolvency professional agencies, and information utilities, founded under Insolvency and Bankruptcy Code 2016 notified in May 2016 by replacing existing bankruptcy laws.
  • The Bankruptcy Code is the set of national laws that governs all insolvency cases.
  • It combines and reorganizes the insolvency resolution process for corporate persons, individuals, and partnership firms in a time-bound manner.
  • This new law will enable employees, creditors, and shareholders to quickly resolve the defaults in load repayments.

About Competition Commission of India

  • Competition Commission of India is a body of the Government of India responsible for enforcing The Competition Act, 2002 and preventing activities that have an adverse effect on competition in India.
  • It was formed on 14 October 2003, and come in force from May 2009.
  • Dhanendra Kumar was the first Chairman of CCI.
  • Previously MRTPC (Monopolies and Restrictive Trade Practices Commission) performed similar functions (prior to 1991 Economic Reforms).

- Published/Last Modified on: September 6, 2017

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