IBBI has issued the ‘Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) (Second) Guidelines, 2025’, streamlining the appointment process of Insolvency Professionals (IPs) for corporate and individual insolvency cases. These set eligibility criteria, including a clean disciplinary record, no convictions in the last three years, valid Authorisation for Assignment (AFA), and submission on unconditional expression of interest. The Board will prepare a panel of eligible IPs, valid from 1st January 1 to 30th June 2026, sorted by ongoing assignment volume and registration date, and share it with National Company Law Tribunal (NCLT) and Debt Recovery Tribunal (DRT) benches. The Guidelines also define zone-wise allocations and conditions for acceptance of appointments, ensuring administrative efficiency, transparency, and uniformity in insolvency proceedings.