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 202 of Insolvency and Bankruptcy Code 2016 (Notified by S.O. 3453(E) Dated 15.11.2016) Appeal to National Company Law Appellate Tribunal. 202. Any insolvency professional agency which is aggrieved by the order of the Board made under section 201 may prefer an appeal to the National Company Law Appellate Tribunal in such form, within such period,… Read More »
Section 201 of Insolvency and Bankruptcy Code 2016 (Notified by S.O. 3453(E) Dated 15.11.2016) Registration of insolvency professional agency. 201. (1) Every application for registration shall be made to the Board in such form and manner, containing such particulars, and accompanied by such fee, as may be specified by regulations: Provided that every application received by… Read More »
Section 200 of Insolvency and Bankruptcy Code 2016 (Notified by S.O. 3453(E) Dated 15.11.2016) Principles governing registration of insolvency professional agency. 200. The Board shall have regard to the following principles while registering the insolvency professional agencies under this Code, namely:— (a) to promote the professional development of and regulation of insolvency professionals; (b) to promote… 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 »
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 15th November, 2016 S.O. 3453(E).— In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 15th November, 2016 as the date on which the provisions of the following sections… Read More »