MCA Appoints Dr. Anju Rathi Rana as Ex-Officio Member of IBBI

The Ministry of Corporate Affairs (MCA) has officially appointed Dr. Anju Rathi Rana, Law Secretary, as an ex-officio member of the Insolvency and Bankruptcy Board of India (IBBI). This appointment, issued through Notification No. F. No. 30/03/2016-Insolvency dated 7 July 2025, has been made under Section 189(1)(c) of the Insolvency and Bankruptcy Code (IBC), 2016.

Dr. Rana will now represent the Ministry of Law and Justice on the IBBI board, enhancing the board’s legal oversight and strengthening its policy-making capabilities.

About IBBI and Its Role

The Insolvency and Bankruptcy Board of India, established in October 2016, is the central regulatory body that oversees insolvency and bankruptcy resolution in India. It supervises insolvency professionals, insolvency agencies, and information utilities, ensuring that the resolution process for distressed companies and individuals is transparent, efficient, and fair.

IBBI’s board includes representatives from key government entities such as:

• Ministry of Corporate Affairs
• Ministry of Finance
• Reserve Bank of India (RBI)
• Other full-time and part-time members from diverse professional backgrounds

Significance of Dr. Rana’s Appointment

Dr. Anju Rathi Rana’s inclusion as an ex-officio member ensures direct representation of the Ministry of Law and Justice in IBBI’s decision-making process. Her legal expertise is expected to bring stronger governance and improve the board’s ability to tackle complex legal challenges in insolvency matters.

This appointment comes at a critical time, as IBBI is actively working to enhance the efficiency and transparency of the insolvency framework.

Recent Changes in CIRP Rules

In May and July 2025, IBBI introduced several amendments to the Corporate Insolvency Resolution Process (CIRP) rules aimed at accelerating the resolution process and protecting stakeholder interests. Some key changes include:

• Interim finance providers (short-term lenders) are now allowed to attend creditor meetings as observers, improving transparency.
• Resolution Professionals (RPs) are required to inform creditors about suspicious or fraudulent transactions before finalizing a resolution plan.

These reforms are designed to ensure accountability, early detection of financial mismanagement, and faster decision-making during insolvency proceedings.

Impact of This Development

With Dr. Rana’s appointment, the IBBI is expected to:

• Strengthen legal oversight on complex insolvency cases.
• Improve coordination between the MCA and Ministry of Law and Justice.
• Ensure that insolvency regulations continue to evolve in line with global best practices.
• Protect the interests of creditors, investors, and businesses through better policy guidance.

Conclusion

The appointment of Dr. Anju Rathi Rana as an ex-officio member of IBBI marks a step forward in reinforcing India’s insolvency resolution ecosystem. With IBBI already pushing for greater transparency and efficiency in insolvency proceedings, her expertise and leadership are expected to accelerate reforms, enhance governance, and strengthen investor confidence.

Published on: 19 July 2025
 Author: CS Chhavi Goyal