Jayanti Prasad, a Whole-Time Member of the Insolvency and Bankruptcy Board of India (IBBI), has been given the additional charge of Chairperson of IBBI. He assumed the additional responsibility with effect from September 13, 2026, following the retirement of former Chairperson Ravi Mital earlier this month.
The appointment is important for banking and financial-sector current affairs as IBBI is the key regulator responsible for overseeing India’s insolvency resolution ecosystem under the Insolvency and Bankruptcy Code (IBC), 2016.
Jayanti Prasad Gets Additional Charge of IBBI
According to IBBI, Jayanti Prasad will serve as Chairperson in addition to his existing responsibilities as a Whole-Time Member of the Board.
His additional charge will continue until November 20, 2026, when his tenure at IBBI is scheduled to end, or until a new Chairperson assumes office, or until further orders, whichever occurs first.
Key Details
| Particular | Details |
|---|---|
| Name | Jayanti Prasad |
| New responsibility | Additional charge as IBBI Chairperson |
| Existing position | Whole-Time Member, IBBI |
| Effective from | September 13, 2026 |
| Predecessor | Ravi Mital |
| Tenure at IBBI ends | November 20, 2026 |
| Organisation | Insolvency and Bankruptcy Board of India |
Jayanti Prasad has taken additional charge following the retirement of Ravi Mital, who stepped down as IBBI Chairperson earlier in September 2026.
The arrangement ensures continuity in the functioning of the insolvency regulator until a new incumbent joins or further orders are issued.
What is IBBI?
The Insolvency and Bankruptcy Board of India (IBBI) is a key institution responsible for implementing and regulating various aspects of India’s insolvency and bankruptcy framework.
It was established under the Insolvency and Bankruptcy Code, 2016, which created a consolidated framework for resolving insolvency involving companies, partnership firms and individuals.
IBBI plays an important role in developing the insolvency ecosystem and regulates insolvency professionals, insolvency professional agencies and information utilities.
What is the Insolvency and Bankruptcy Code?
The Insolvency and Bankruptcy Code (IBC), 2016 provides a time-bound and market-linked mechanism for resolving stressed assets and insolvency cases.
The framework aims to preserve the value of distressed businesses, improve creditor recovery and provide an organised mechanism for insolvency resolution and liquidation.
Why is the Appointment Important?
The IBBI Chairperson plays an important role in overseeing India’s insolvency and bankruptcy regulatory framework. The regulator is central to the implementation of the IBC and the functioning of India’s corporate insolvency resolution system.
Giving Jayanti Prasad additional charge provides leadership continuity at IBBI following Ravi Mital’s retirement while the process for a new incumbent continues.
Key Points for Exams
- Jayanti Prasad has taken additional charge as Chairperson of IBBI.
- He is currently a Whole-Time Member of IBBI.
- He assumed the additional charge from September 13, 2026.
- He succeeds Ravi Mital, who retired as IBBI Chairperson.
- His current tenure at IBBI ends on November 20, 2026.
- IBBI: Insolvency and Bankruptcy Board of India.
- IBBI is a key regulator under the Insolvency and Bankruptcy Code (IBC), 2016.
- IBC provides a time-bound and market-linked resolution mechanism for stressed assets.
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