New Delhi: Anand Mohan Bajaj, a senior officer of the Indian Audit and Accounts Service (IA&AS), is being tipped as a possible successor to Ravi Mital as Chairperson of the Insolvency and Bankruptcy Board of India (IBBI), according to a report published on October 19, 2026.
Bajaj belongs to the 1990 batch of the IA&AS and currently serves as Deputy Comptroller and Auditor General (Commercial & Report Central) at the headquarters of the Comptroller and Auditor General (CAG) of India. His current designation is listed on the CAG’s official website.
The reported development comes after IBBI Whole-Time Member Jayanti Prasad was given additional charge as chairperson following the end of Ravi Mital’s tenure. However, Bajaj’s possible appointment remains unconfirmed, and should not be treated as a formal government announcement.
Anand Mohan Bajaj: Education and Professional Background
Bajaj has more than three decades of experience in public finance, government auditing, financial markets and economic affairs. His career has included senior assignments in the CAG organisation, the Ministry of Finance and international audit institutions.
He is a Chartered Accountant and holds a Certified Public Accountant (CPA) qualification from the United States. He graduated with a Bachelor of Commerce degree from St. Xavier’s College, Kolkata, where he studied from 1984 to 1987, according to the professional biography provided in the source material.
His combination of accounting expertise and experience in financial regulation has brought him into roles involving government expenditure, securities markets, investor protection and public-sector accountability.
Current Role as Deputy CAG
Bajaj currently serves as Deputy Comptroller and Auditor General for Commercial and Report Central at the CAG headquarters in New Delhi. The official organisational chart lists several audit offices and wings under his reporting structure, covering areas such as power, infrastructure, mines and coal, financial services, steel, oil and gas, shipping, health, education and agriculture.
The role places him in a senior position within India’s public audit system, which scrutinises government expenditure and the functioning of public-sector organisations.
Before his current assignment, he served as Additional Deputy CAG between July 2022 and April 2024, according to the career details supplied.
Worked in the Ministry of Finance and Financial Markets Division
Bajaj has also held important positions in the Ministry of Finance, particularly in the Department of Economic Affairs.
As Additional Secretary, he headed the Financial Markets Division, with responsibilities spanning securities-market regulation, investor protection, foreign portfolio investments and external commercial borrowings. His portfolio also included matters related to the development and regulation of the International Financial Services Centre at GIFT City, Gandhinagar.
He previously served as Joint Secretary in the Ministry of Finance and as Director of External Markets.
These assignments gave him experience in areas relevant to India’s financial and regulatory architecture, including capital markets, investment flows and the development of financial services.
International Experience with the United Nations Board of Auditors
Bajaj’s career has included an international assignment in New York, where he served as Director of External Audit for India to the United Nations.
He was associated with audits involving the United Nations and its entities, including UNICEF and the United Nations Joint Staff Pension Fund. He also served as Chair of the Audit Operations Committee of the United Nations Board of Auditors, according to his professional biography.
The assignment added an international dimension to his experience in audit oversight, financial accountability and institutional governance.
What Is the Insolvency and Bankruptcy Board of India?
The Insolvency and Bankruptcy Board of India is the statutory regulator established under the Insolvency and Bankruptcy Code, 2016. It was set up on October 1, 2016, and operates under the administrative control of the Ministry of Corporate Affairs.
IBBI oversees key parts of India’s insolvency ecosystem. Its responsibilities include regulating insolvency professionals and insolvency professional agencies, as well as overseeing processes under the Insolvency and Bankruptcy Code.
The regulator plays an important role in India’s framework for resolving corporate distress, facilitating insolvency proceedings and strengthening the institutional mechanisms governing bankruptcy and liquidation.
Jayanti Prasad Currently Holds Additional Charge
Jayanti Prasad, an IA&AS officer of the 1986 batch and a Whole-Time Member of IBBI, assumed additional charge as chairperson with effect from September 13, 2026, following the end of Ravi Mital’s tenure.
The government had initiated the process to appoint a full-time successor. According to The Economic Times, Prasad’s additional charge was to continue until November 20, 2026, when his tenure as Whole-Time Member was due to end, or until a successor was appointed and joined, whichever occurred earlier.
The report naming Bajaj as a possible successor has therefore emerged amid the search for a new full-time chairperson. However, as of the information available for this article, his appointment has not been confirmed through an official government notification.
If appointed, Bajaj would bring experience in public-sector auditing, financial markets and government finance to the leadership of the insolvency regulator. Until an official announcement is issued, however, his name should be treated as a reported possibility rather than a confirmed appointment.
