Section 220 of Insolvency and Bankruptcy Code 2016 (Notified S.O. 3453(E) Dated 15.11.2016) Appointment of disciplinary committee. 220. (1) The Board shall constitute a disciplinary committee to consider the reports of the investigating Authority submitted under sub-section (6) of section 218: Provided that the members of the disciplinary committee shall consist of whole-time members of the… Read More »
Section 219 of Insolvency and Bankruptcy Code 2016 (Notified S.O. 3453(E) Dated 15.11.2016) Show cause notice to insolvency professional agency or its member or information utility. 219. The Board may, upon completion of an inspection or investigation under section 218, issue a show cause notice to such insolvency professional agency or insolvency professional or information… 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 208 of Insolvency and Bankruptcy Code 2016 (Notified S.O. 3453(E) Dated 15.11.2016 :- sub-section (1) of section 208 (i) clause (c);(ii) clause (e); (3) sub-section (2) of section 208;) Functions and obligations of insolvency professionals. 208. (1) Where any insolvency resolution , fresh start, liquidation or bankruptcy process has been initiated, it shall be the… Read More »
Section 207 of Insolvency and Bankruptcy Code 2016 (Notified by S.O. 3453(E) Dated 15.11.2016) Registration of insolvency professionals. 207. (1) Every insolvency professional shall, after obtaining the membership of any insolvency professional agency, register himself with the Board within such time, in such manner and on payment of such fee, as may be specified by regulations.… Read More »
Section 206 of Insolvency and Bankruptcy Code 2016 (Notified by S.O. 3453(E) Dated 15.11.2016) CHAPTER IV INSOLVENCY PROFESSIONALS Enrolled and registered persons to act as insolvency professionals. 206. No person shall render his services as insolvency professional under this Code without being enrolled as a member of an insolvency professional agency and registered with the Board.
Section 205 of Insolvency and Bankruptcy Code 2016 (Notified by S.O. 3453(E) Dated 15.11.2016) Insolvency professional agencies to make bye-laws. 205. Subject to the provisions of this Code and any rules or regulations made thereunder and after obtaining the approval of the Board, every insolvency professional agency shall make bye-laws consistent with the model bye-laws specified… 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 »
Section 203 of Insolvency and Bankruptcy Code 2016 (Notified by S.O. 3453(E) Dated 15.11.2016) Governing Board of insolvency professional agency. 203. The Board may, for the purposes of ensuring that every insolvency pro-fessional agency takes into account the objectives sought to be achieved under this Code, make regulations to specify— (a) the setting up of a… Read More »