Section 207 of the Insolvency and Bankruptcy Code, 2016: Registration of Insolvency Professionals
Section 207 governs registration of insolvency professionals with the Insolvency and Bankruptcy Board of India. It requires membership of an insolvency professional agency before registration and empowers IBBI to specify eligible categories of professionals or persons having appropriate qualifications and experience.
Section 207 - Statutory Provision
(1) Every insolvency professional shall, after obtaining the membership of any insolvency professional agency, register himself with the Board within such time, in such manner and on payment of such fee, as may be specified by regulations.
(2) The Board may specify the categories of professionals or persons possessing such qualifications and experience in the field of finance, law, management, insolvency or such other field, as it deems fit.
Meaning and Scope of Section 207
Section 207 forms part of the statutory framework regulating insolvency professionals. Sub-section (1) links registration with prior membership of an insolvency professional agency, while sub-section (2) authorises IBBI to prescribe professional categories, qualifications and experience for entry into the profession.
Membership Before Registration
An applicant must obtain membership of an insolvency professional agency before registering with IBBI. This requirement complements Section 206, which provides that a person cannot render services as an insolvency professional without both enrolment as a member of an insolvency professional agency and registration with the Board.
Registration with the Board
Registration is to be completed within the time, in the manner and on payment of the fee specified by regulations. The detailed eligibility and registration requirements are therefore found in the IBBI (Insolvency Professionals) Regulations, 2016.
Qualifications and Experience
Section 207(2) gives IBBI authority to specify categories of professionals or persons possessing qualifications and experience in finance, law, management, insolvency or another field considered appropriate. The regulatory framework accordingly prescribes eligibility routes and conditions for registration.
Meaning of Insolvency Professional
Section 3(19) defines an "insolvency professional" as a person enrolled under Section 206 with an insolvency professional agency as its member and registered with the Board as an insolvency professional under Section 207.
Registration Framework at a Glance
| Requirement | Legal Position |
|---|---|
| Professional agency membership | Membership of an insolvency professional agency must be obtained before registration with IBBI. |
| IBBI registration | Registration is required in the manner and on payment of the fee specified by regulations. |
| Qualifications and experience | IBBI may specify eligible categories and qualifications or experience in finance, law, management, insolvency or other fields. |
| Regulatory framework | The IBBI (Insolvency Professionals) Regulations, 2016 provide detailed eligibility, registration and professional requirements. |
Current IBBI Insolvency Professionals Regulations
The Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 were made under Sections 196, 207 and 208 read with Section 240 of the Code. The current consolidated regulations listed by IBBI are amended up to 20 November 2025.
The 2025 amendments include the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2025 dated 3 April 2025 and the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2025 dated 20 November 2025. Applicants and registered professionals should refer to the current consolidated regulations rather than relying on older eligibility or procedural requirements.
Registration and Authorisation for Assignment
A certificate of registration under the Insolvency Professionals Regulations establishes registration as an insolvency professional. The regulations also contain a separate concept of "authorisation for assignment", issued by an insolvency professional agency to its professional member in accordance with its bye-laws. A registered insolvency professional should therefore verify all current regulatory conditions applicable before accepting or undertaking an assignment.
Related IBC Provisions
Section 3(19): Defines "insolvency professional".
Section 204: Specifies functions of insolvency professional agencies, including granting membership and monitoring members.
Section 206: Requires enrolment with an insolvency professional agency and registration with IBBI before rendering services as an insolvency professional.
Section 208: Sets out functions and obligations of insolvency professionals.
Section 220: Provides for disciplinary action by the Board in accordance with the Code.
Section 240: Confers power on IBBI to make regulations.
Official Legal Resources
India Code - Central Acts and Legislation
IBBI - Insolvency and Bankruptcy Code and Amendment Acts