Corporate Affairs Ministry (MCA) has appointed two part-time members to the Governing Board of insolvency regulator, the Insolvency and Bankruptcy Board of India (IBBI).

The two part-time members are M.P. Ram Mohan, a Professor at the Indian Institute of Management (IIM) Ahmedabad, and Dinabandhu Mohapatra, a Non-Executive Independent Director at Indiabulls Housing Limited.

These appointments will take effect on February 19 for a period of five years or until they attain the age of sixty-five or until further orders, whichever is earlier.

Mohapatra, who has over three and half decades of experience in the banking and insurance sector, was former Managing Director & CEO at Bank of India. 

With these appointments, the IBBI Governing Board’s composition is complete in line with the Insolvency and Bankruptcy Code 2016. It has now ten members, including the Chairperson, Ravi Mital. 

Already, IBBI has three whole-time members, one Reserve Bank of India (RBI) nominee, and three other ex-officio members from the Department of Economic Affairs in the Finance Ministry, the Corporate Affairs Ministry, the Legislative Department, and the Department of Legal Affairs in the Ministry of Law and Justice.