Jithesh John, a 2001 batch Indian Economic Service Officer, has assumed the role of Executive Director at the Insolvency and Bankruptcy Board of India (IBBI). John, who has over 21 years of experience in various sectors including finance, energy, infrastructure, and small and medium enterprises, previously served as an economic adviser in the Ministry of Power.
The Supreme Court has allowed the Insolvency and Bankruptcy Board of India (IBBI) petition and transferred several pending cases to the Bombay High Court. The petitions challenge the vires of Regulation 31 A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution process for Corporate Persons) Regulations, 2016 by questioning the board s powers to issue sub-ordinate legislation.
The IBBI discussion paper has proposed keeping properties that are in the possession of homebuyers from the ambit of liquidation. It has also proposed mandatorily registering projects under the Real Estate Regulatory Authority.