Bankruptcy and Insolvency Board

The Bankruptcy and Insolvency Board is a government organization responsible for regulating and overseeing the systems and professionals involved in handling financial struggles of individuals or businesses. Its goal is to ensure fair, transparent, and efficient processes for resolving insolvencies—situations where debts exceed assets—by setting standards, licensing practitioners, and enforcing rules. This helps protect creditors, debtors, and the overall economic stability, ensuring that troubled entities address their debts responsibly and in an organized manner.