Ravi Mittal, former Union Secretary, Sports, is likely to take over as the chairperson of the Insolvency and Bankruptcy Board of India (IBBI), according to a note by the Ministry of Corporate Affairs. The Appointments Committee of Cabinet has cleared Ravi Mittal’s appointment. The appointment will be subject to approval from the Prime Minister Office.
Mittal would head the IBBI for five years or till he is 65 years of age, whichever is earlier, as per the Ministry of Corporate Affairs note.
The IBBI is an apex body of insolvency and bankruptcy laws regulatory institution set up by the Ministry of Corporate Affairs for enforcing the Insolvency and Bankruptcy Code. The IBBI regulates corporate insolvency and resolution processes. It also regulates insolvency professionals and information utilities.
The chairperson's post at the IBBI fell vacant after M.S. Sahoo retired on 30 September last year after completing his five-year tenure. Navrang Saini, a whole-time member of the IBBI, was given the additional charge of the IBBI chief for the interim period till the position was filled.
Ravi Mittal, a 1986-batch IAS officer from the Bihar cadre, had earlier served as secretary in the Information and Broadcasting Ministry. Last June, he was given additional charge as Secretary in the Ministry of Skill Development and Entrepreneurship.
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