Dr. (Ms.) Mukulita Vijayawargiya takes charge as Whole Time Member, IBBI

Dr. (Ms.) Mukulita Vijayawargiya takes charge as Whole Time Member, IBBI 

Dr. (Ms.) Mukulita Vijayawargiya took charge as Whole Time Member, the Insolvency (दिवाला) and Bankruptcy Board of India in New Delhi today.  Dr. (Ms.) Vijayawargiya will look after Administrative

Law Wing. She will also look after Information Technology, Limited Insolvency Examination, National Insolvency Examination, Finance and Accounts and Communication. Dr. (Ms.) Vijayawargiya was a member of Bankruptcy Law Reforms Committee (BLRC) based on which, the Insolvency and Bankruptcy Code, 2016 has been framed(निर्माण करना). She played a key role in drafting the Insolvency and Bankruptcy Code, 2016 as Additional Secretary in the Legislative Department, Ministry of Law & Justice.

Dr. Vijayawargiya served as a member of Indian Legal Service. She has vast experience of 35 years in various fields of law. She has been associated with drafting/vetting of more than 100 legislative proposals in the legislative department. Her previous assignment was Additional Secretary in the Legislative Department, Ministry of Law & Justice, Government of India. 

She has also practiced law for a period of 6 years (1979-1985) and served as an Assistant professor at Indore for some time. Further she has been a visiting scholar in Japan and Australia and published a number of articles in various journals and is co-author of two books. 

ABOUT ESTABLISHMENT OF IBBI

The Insolvency and Bankruptcy Board of India was established on October 1, 2016 in accordance with the provisions of The Insolvency and Bankruptcy Code, 2016.

PREAMBLE

The Preamble of the Insolvency and Bankruptcy Code describes the basic functions of the Insolvency and Bankruptcy Code as "...to consolidate and amend the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of the value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders including alteration in the order of priority of payment of Government dues and to establish an Insolvency and Bankruptcy Board of India, and for matters connected therewith or incidental thereto."