Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees Recommendation Guidelines — Regulation/control 8
Reviewed by Ravi Sisodia · Last reviewed 29 August 2026
Consent requirement
Finin2min Summary — in 2 Minutes
Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees Recommendation Guidelines — Consent requirement. Legal basis: Section 16(3), 34, 97 and 125 of the IBC (recommendation of an insolvency professional by IBBI where none is proposed), operationalised through periodically reissued IBBI Recommendation Guidelines (the current version covering 1 July to 31 December 2026).
Official source and legal ownership
Consent requirement
An insolvency professional included on the panel must give unconditional consent to accept an appointment if recommended - inclusion on the panel is not itself optional to act on once triggered.
Why this control matters
An insolvency professional included on the panel must give unconditional consent to accept an appointment if recommended - inclusion on the panel is not itself optional to act on once triggered. sits inside Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees Recommendation Guidelines - a specific procedural requirement, not a discretionary practice. Treating it as optional, or substituting a generic template for the exact prescribed form/process, is one of the more common ways an insolvency professional or process participant creates avoidable compliance exposure.
Practical implementation checklist
- Confirm the current, amended text of this Regulation on the IBBI website before relying on it - Regulations under the Code are amended relatively often.
- Map this control to the specific process stage, form and timeline it applies to in the matter at hand.
- Document the evidence trail (notices, records, filings, acknowledgements) that shows the control was actually followed, not just referenced.
- Cross-check against any related Regulation, circular or judicial interpretation that may qualify how this control is applied in practice.
Common failure modes
- Relying on a summary or secondary source instead of the current Gazette-notified text.
- Missing a later amendment that changed the timeline, form or threshold this control sets.
- Treating this control as generic paperwork rather than a specific statutory/regulatory obligation with its own compliance consequence.
Practical Q&A
Is this page the full legal text of the Regulation?
No. It is an implementation summary. Always verify the exact wording, provisos and any Schedule or Form referenced against the official IBBI-notified text before relying on it for a filing, opinion or compliance decision.
Does a portal or software workflow satisfy this control automatically?
Not necessarily. Portal or software steps are operational aids; they do not substitute for confirming that the underlying regulatory requirement has actually been met on the facts of the specific case.