IRR Insolvency Professionals Private Limited (IRR-IP) is India’s 1st Insolvency Professional Entity recognized by The Insolvency & Bankruptcy Board of India (IBBI) under Regulation 12 of Insolvency Professionals Regulations, 2016 in exercise of the powers conferred on it by sections 196, 207 and 208 read with section 240 of Insolvency and Bankruptcy Code, 2016 (IBC).

The IBC deals with insolvency and bankruptcy of companies, limited liability partnerships, individuals and partnership firms. This Code has repealed archaic laws and amend many legislations notable being Sick Industrial Companies (Special Provisions) Act, 1985 and the Companies Act 2013 and other enactments like Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (RDB Act) and the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI)