Insolvency and Bankruptcy Board (IBBI) of India notifies two Regulations; The IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016 and IBBI (Insolvency Professional Agencies) Regulations, 2016. The Insolvency and Bankruptcy Board of India (IBBI), in exercise of its powers conferred under section 240 of the Insolvency and Bankruptcy Code, 2016, has… Read More »
Registration of Insolvency professional Agency [as per Insolvency and Bankruptcy Board of India (Insolvency Professional Agencies) Regulations, 2016 ] Eligibility for registration of Insolvency professional Agency No person shall be eligible to be registered as an insolvency professional agency unless it is a company registered under section 8 of the Companies Act, 2013, and – a) its… Read More »
Section 218 of Insolvency and Bankruptcy Code 2016 (Notified S.O. 3453(E) Dated 15.11.2016) Investigation of insolvency professional agency or its member or information utility. 218. (1) Where the Board, on receipt of a complaint under section 217 or has reasonable grounds to believe that any insolvency professional agency or insolvency professional or an information utility… Read More »
Section 217 of Insolvency and Bankruptcy Code 2016 (Notified S.O. 3453(E) Dated 15.11.2016) CHAPTER VI INSPECTION AND INVESTIGATION Complaints against insolvency professional agency or its member or information utility. 217. Any person aggrieved by the functioning of an insolvency professional agency or insolvency professional or an information utility may file a complaint to the Board… Read More »
Section 199 of Insolvency and Bankruptcy Code 2016 (Notified by S.O. 3453(E) Dated 15.11.2016) HAPTER III INSOLVENCY PROFESSIONAL AGENCIES No person to function as insolvency professional agency without valid certificate of registration. 199. Save as otherwise provided in this Code, no person shall carry on its business as insolvency professional agencies under this Code and enrol… Read More »