FM: Present Government has taken a new initiative by setting-up a modern insolvency mechanism based on the best practices in the world; Hope that it will deliver the desired results; Hands-over the Certificates of Registration to these two Insolvency Professional Agency (IPA) companies. The Union Minister of Finance and Corporate Affairs Shri Arun Jaitley said… Read More »
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 21st November, 2016 Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016 IBBI/2016-17/GN/REG001.— In exercise of the powers conferred by sections 196, 203 and 205 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31… Read More »
Section 204 of Insolvency and Bankruptcy Code 2016 (Notified by S.O. 3453(E) Dated 15.11.2016) Functions of insolvency professional agencies. 204. An insolvency professional agency shall perform the following functions, namely:— (a) grant membership to persons who fulfil all requirements set out in its bye-laws on payment of membership fee; (b) lay down standards of professional conduct… Read More »