Insolvency and Bankruptcy Board of India Frequently Asked Questions-Insolvency Professionals Question 1. Who is an insolvency professional (IP)? Answer. As per the Insolvency and Bankruptcy Code, 2016 (the Code), an insolvency professional (IP) means an eligible person: a. enrolled with an insolvency professional agency (IPA) as its member and, b. registered with the Insolvency and