IBBI initiates search for next Chairperson: Applications open as succession process starts early
Incumbent Ravi Mittal was appointed in April 2022; applications were sought within six weeks
- Jun 8, 2026,
- Updated Jun 8, 2026 12:45 PM IST
India’s insolvency regulator, the Insolvency and Bankruptcy Board of India, has invited applications for the post of the next Chairperson.
As per the advertisement, the Chairperson should have special knowledge and experience in dealing with problems relating to insolvency or bankruptcy and have special knowledge and experience in the field of law, finance, economics, accountancy or administration.
The Chairperson would be appointed for a period of five years and would have the option to receive pay as admissible to a Secretary to the Government of India or a consolidated salary of Rs 5.62 lakh per month.
It has sought applications within six weeks, which would in effect be in the middle of July. The current IBBI Chairperson, Ravi Mittal, was appointed in February 2022 and would complete his term by early 2027.
IBBI has sought applications for the next Chairperson well in advance of this, which is a likely indication that the government wants to ensure that there is no vacuum at the top of IBBI once Mittal demits office, and there remains continuity of work at the top authority.
In the past, sometimes a vast amount of time has elapsed in the selection for top roles. For instance, the position of Chairperson, Competition Commission of India, remained vacant for over six months before the appointment of the incumbent Ravneet Kaur in May 2023, and several key decisions of the competition watchdog remained pending.
India’s Insolvency and Bankruptcy Code has just completed a decade, and the IBBI has played a critical role in ensuring that the new insolvency framework works well. As per official data, till March 2026, 8,987 CIRPs have been admitted under the Code, and 1,419 corporate debtors were resolved through approved resolution plans. As of March 2026, creditors had also realised approximately ₹4.32 lakh crore through approved resolution plans under the IBC. Recoveries exceeded 116.85 of the liquidation value and more than 94.56% of the fair value.
Major amendments to the IBC have also been carried out to ensure faster resolution of disputes and measures such as creditor-initiated insolvencies.
India’s insolvency regulator, the Insolvency and Bankruptcy Board of India, has invited applications for the post of the next Chairperson.
As per the advertisement, the Chairperson should have special knowledge and experience in dealing with problems relating to insolvency or bankruptcy and have special knowledge and experience in the field of law, finance, economics, accountancy or administration.
The Chairperson would be appointed for a period of five years and would have the option to receive pay as admissible to a Secretary to the Government of India or a consolidated salary of Rs 5.62 lakh per month.
It has sought applications within six weeks, which would in effect be in the middle of July. The current IBBI Chairperson, Ravi Mittal, was appointed in February 2022 and would complete his term by early 2027.
IBBI has sought applications for the next Chairperson well in advance of this, which is a likely indication that the government wants to ensure that there is no vacuum at the top of IBBI once Mittal demits office, and there remains continuity of work at the top authority.
In the past, sometimes a vast amount of time has elapsed in the selection for top roles. For instance, the position of Chairperson, Competition Commission of India, remained vacant for over six months before the appointment of the incumbent Ravneet Kaur in May 2023, and several key decisions of the competition watchdog remained pending.
India’s Insolvency and Bankruptcy Code has just completed a decade, and the IBBI has played a critical role in ensuring that the new insolvency framework works well. As per official data, till March 2026, 8,987 CIRPs have been admitted under the Code, and 1,419 corporate debtors were resolved through approved resolution plans. As of March 2026, creditors had also realised approximately ₹4.32 lakh crore through approved resolution plans under the IBC. Recoveries exceeded 116.85 of the liquidation value and more than 94.56% of the fair value.
Major amendments to the IBC have also been carried out to ensure faster resolution of disputes and measures such as creditor-initiated insolvencies.