India’s bankruptcy regulator has cancelled the registrations of 207 insolvency professionals in the June quarter after they failed to continue meeting the “fit and proper” requirement, marking its biggest such clean-up since the Insolvency and Bankruptcy Board of India was established in 2016.
The action has brought the number of registered insolvency professionals down to 4,359 at the end of June, even as eight new professionals entered the system during the quarter.
The scale is striking. Only 28 insolvency professionals had previously lost their registrations specifically on fit-and-proper grounds since IBBI was set up, according to official data reported by Mint.
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