The guidelines provide for preparing advance panels for use by the National Company Law Tribunal (NCLT) and Debt Recovery Tribunal (DRT), in appointing Insolvency Professionals (IPs). To qualify, IPs must have no pending disciplinary proceedings, no conviction within the previous three years, and must possess a valid Authorisation for Assignment throughout the panel period. It require unconditional consent from IPs to accept appointments and warn that refusal without justification may result in removal from the panel for six months. The panel will be organized zone wise and bench wise, with eligible IPs ranked according to ongoing assignments. The adjudicating authorities retain discretion to appoint professionals from within or outside the panel.