INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
NOTIFICATION
New Delhi, the 23rd November, 2016
Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016
No. IBBI/2016-17/GN/REG003.—In exercise of the powers conferred by sections 19 6, 207 and 208 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Board hereby makes the following Regulations, namely-
CHAPTER I
GENERAL
Short title and commencement.
1. (1) These Regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016.
(2) These Regulations shall come into force on 29th November, 2016.
Definitions.
2. (1) In these Regulations, unless the context otherwise requires -
(a) "Bar Council" means a Bar Council constituted under the Advocates Act, 1961 (25 of 1961);
(b) "certificate of registration" means a certificate o f registration granted by the Board under section 207 of the Code read with these Regulations;
(c) "Code" means the Insolvency and Bankruptcy Code, 20 16 (31 of 2016);
(d) "Institute of Chartered Accountants of India" means the Institute constituted under the Chartered Accountants Act, 1949 (38 of 1949);
(e) "Institute of Cost Accountants of India" means the Institute constituted under the Cost and Works Accountants Act, 1959 (23 of 1959);
(f) "Institute of Company Secretaries of India" means t he Institute constituted under the Institute of the Company Secretaries Act, 1980 (56 of 1980); and
(g) "professional member" means an individual who has b een enrolled as a member of an insolvency professional agency;
(2) Unless the context otherwise requires, words and expressions used and not defined in these Regulations, shall have the meanings assigned to them in the Code.
CHAPTER II
INSOLVENCY EXAMINATIONS
3. (1) The Board shall, either on its own or through a designated agency, conduct a 'National Insolvency Examination' in such a manner and at such frequency, as may be specified, to test the knowledge and practical skills of individuals in the areas of insolvency, bankruptcy and allied subjects.
(2) The Board shall, either on its own or through a designated agency, conduct a 'Limited Insolvency E xamination' to test the knowledge and application of knowledge of individuals in the areas of insolvency, bankruptcy and allied subjects.
(3) The syllabus, format and frequency of the 'Limited Insolvency Examination', including qualifying marks, shall be published on the website of the Board at least one month before the examination.
CHAPTER III
REGISTRATION OF INSOLVENCY PROFESSIONALS
Eligibility.
4. No individual shall be eligible to be registered as an insolvency professional if he-
(a) is a minor;
(b) is not a person resident in India;
(c) does not have the qualification and experience specified in Regulation 5 or Regulation 9, as the case may be;
(d) has been convicted by any competent court for an offence punishable with imprisonment for a term exceeding six months or for an offence involving moral turpitude, and a period of five years has not elapsed from the date of expiry of the sentence:
Provided that if a person has been convicted of any offence and sentenced in respect thereof to imprisonment for a period of seven years or more, he shall not be eligible to be registered;
(e) he is an undischarged insolvent, or has applied to be adjudicated as an insolvent;
(f) he has been declared to be of unsound mind; or
(g) he is not a fit and proper person;
Explanation: For determining whether an individual is fit and proper under these Regulations, the Board may take account of any consideration as it deems fit, including but not limited to the following criteria-
(i) integrity, reputation and character,
(ii) absence of convictions and restraint orders, and
(iii) competence, including financial solvency and net worth.
Qualifications and experience.
5. Subject to the other provisions of these Regulations, an individual shall be eligible for registration, if he-
(a) has passed the National Insolvency Examination;
(b) has passed the Limited Insolvency Examination, and has fifteen years of experience in management, after he received a Bachelor's degree from a university established or recognized by law; or
(c) has passed the Limited Insolvency Examination and has ten years of experience as -
(i) a chartered accountant enrolled as a member of the Institute of Chartered Accountants of India,
(ii) a company secretary enrolled as a member of the Institute of Company Secretaries of India,
(iii) a cost accountant enrolled as a member of the Institute of Cost Accountants of India, or
(iv) an advocate enrolled with a Bar Council.
Application for certificate of registration.
6. (1) An individual enrolled with an insolvency professional agency as a professional member may make an application to the Board in Form A of the Second Schedule to these Regulations, along with a non-refundable application fee of ten thousand rupees to the Board.
(2) The Board shall acknowledge an application made under this Regulation within seven days of its receipt.
(3) The Board may require the applicant to submit, within reasonable time, additional documents, information or clarification that it deems fit.
(4) The Board may require the applicant to appear, within reasonable time, before the Board in person, or through his authorised representative for clarifications required for processing the application.
Certificate of registration.
7. (1) If the Board is satisfied, after such inspection or inquiry as it deems necessary that the applicant is eligible under these Regulations, it may grant a certificate of registration to the applicant to carry on the activities of an insolvency professional in Form B of the Second Schedule to these Regulations, within sixty days of receipt of the application, excluding the time given by the Board for presenting additional documents, information or clarification, or appearing in person, as the case may be.
(2) The registration shall be subject to the conditions that the insolvency professional shall -
(a) at all times abide by the Code, rules, regulations, and guidelines thereunder and the bye-laws of the insolvency professional agency with which he is enrolled;
(b) at all times continue to satisfy the requirements under Regulation 4;
(c) pay a fee of ten thousand rupees to the Board, every five years after the year in which the certificate is granted;
(d) not render services as an insolvency professional unless he becomes a partner or director of an insolvency professional entity recognised by the Board under Regulation 13, if he is not a citizen of India;
(e) take prior permission of the Board for shifting his professional membership from one insolvency professional agency to another, after receiving no objection from both the concerned insolvency professional agencies;
(f) take adequate steps for redressal of grievances;
(g) maintain records of all assignments undertaken by him under the Code for at least three years from the completion of such assignment;
(h) abide by the Code of Conduct specified in the First Schedule to these Regulations; and
(i) abide by such other conditions as may be imposed by the Board.
Refusal to grant certificate.
8. (1) If, after considering an application made under Regulation 6, the Board is of the prima facie opinion that the registration ought not be granted, it shall communicate the reasons for forming such an opinion and give the applicant an opportunity to explain why his application should be accepted, within fifteen days of the receipt of the communication from the Board, to enable it to form a final opinion.
(2) The communication under sub-regulation (1) shall be made to the applicant within forty five days of receipt of the application, excluding the time given by the Board for presenting additional documents, information or clarifications, or appearing in person, as the case may be.
(3) After considering the explanation, if any, given by the applicant under sub-regulation (1), the Board shall communicate its decision to-
(a) accept the application, along with the certificate of registration, or
(b) reject the application by an order, giving reasons thereof,
within thirty days of receipt of the explanation.
Registration for a limited period.
9. (1) Notwithstanding any of the provisions of Regulation 5, an individual shall be eligible to be registered for a limited period as an insolvency professional if he-
(a) has been 'in practice' for fifteen years as-
(i) a chartered accountant enrolled as a member of the Institute of Chartered Accountants of India,
(ii) a company secretary enrolled as a member of the Institute of Company Secretaries of India,
(iii) a cost accountant enrolled as a member of the Institute of Cost Accountants of India, or
(iv) an advocate enrolled with a Bar Council; and
(b) submits an application for registration in Form A of the Second Schedule to these Regulations to the insolvency professional agency with which he is enrolled on or before 31st December, 2016 along with a non-refundable application fee of five thousand rupees which shall be collected by such insolvency professional agency on behalf of the Board.
(2) The insolvency professional agency shall submit to the Board the fee collected and the details of the applications received under sub-regulation (1)(b).
(3) An individual referred to sub-regulation (1) shall be registered for a limited period upon submission of the details and fee to the Board under sub-regulation (2), which shall be valid for a period of six months from the date of such submission.
(4) An insolvency professional registered under sub-regulation (3) shall not undertake any assignment as an insolvency professional after the expiry of his registration:
Provided that he may complete the pending assignments undertaken before the expiry of his registration, and his registration shall be deemed to be valid for this limited purpose.
CHAPTER IV
TEMPORARY SURRENDER AND DISCIPLINARY PROCEEDINGS
Temporary surrender.
10. (1) An insolvency professional agency shall inform the Board if any of its professional members has temporarily surrendered his certificate of membership or revived his certificate of membership after temporary surrender, not later than seven days from approval of the application for temporary surrender or revival, as the case may be.
(2) The Board shall take note of the information received under sub-regulation (1).
Disciplinary proceedings.
11. (1) Based on the findings of an inspection or investigation, or on material otherwise available on record, if the Board is of the prima facie opinion that sufficient cause exists to take actions permissible under section 220, it shall issue a show-cause notice to the insolvency professional.
(2) The show-cause notice shall be in writing, and shall state-
(a) the provisions of the Code under which it has been issued;
(b) the details of the alleged facts;
(c) the details of the evidence in support of the alleged facts;
(d) the provisions of the Code, rules, regulations and guidelines thereunder allegedly violated, or the manner in which the public interest is allegedly affected;
(e) the actions or directions that the Board proposes to take or issue if the allegations are established;
(f) the manner in which the insolvency professional is required to respond to the show-cause notice;
(g) consequences of failure to respond to the show-cause notice; and
(h) procedure to be followed for disposal of the show-cause notice.
(3) The show-cause notice shall enclose copies of documents relied upon and extracts of relevant portions from the report of investigation or inspection, or other records.
(4) A show-cause notice issued shall be served on the insolvency professional in the following manner-
(a) by sending it to the insolvency professional, at the address provided by him or provided by the insolvency professional agency with which he is enrolled , by registered post with acknowledgement due; or
(b) by an appropriate electronic means to the email address of the insolvency professional, provided by him or provided by the insolvency professional agency with which he is enrolled.
(5) The Board shall constitute a Disciplinary Committee for disposal of the show-cause notice.
(6) The Disciplinary Committee shall endeavour to dispose of the show-cause notice within a period of six months of the assignment.
The Disciplinary Committee shall dispose of the show-cause notice assigned under sub-regulation (5) by a reasoned order in adherence to principles of natural justice, and after considering the submissions, if any, made by the insolvency professional, the relevant material facts and circumstances, and the material on record.
(7) The order disposing of a show-cause notice may provide for-
(a) no action;
(b) warning;
(c) any of the actions under section 220(2) to (4); or
(d) a reference to the Board to take any action under section 220(5).
(8) The order passed under sub-regulation (7) shall not become effective until thirty days have elapsed from the date of issue of the order unless the Disciplinary Committee states otherwise in the order along with the reason for the same.
(9) The order passed under sub-regulation (7) shall be issued to the insolvency professional, with a copy issued to the insolvency professional agency with which he is enrolled immediately, and be published on the website of the Board.
CHAPTER V
RECOGNITION OF INSOLVENCY PROFESSIONAL ENTITIES
Recognition of Insolvency Professional Entities.
12. (1) A limited liability partnership, a registered partnership firm or a company may be recognised as an insolvency professional entity if-
(a) a majority of the partners of the limited liability partnership or registered partnership firm are registered as insolvency professionals; or
(b) a majority of the whole-time directors of the company are registered as insolvency professionals,
as the case may be.
(2) A person eligible under sub-regulation (1) may make an application for recognition as an insolvency professional entity to the Board in Form C of the Second Schedule to these Regulations.
13. (1) If the Board is satisfied, after such inspection or inquiry as it deems necessary that the applicant is eligible under these Regulations, it may grant a certificate of recognition as an insolvency professional entity in Form D of the Second Schedule to these Regulations.
(2) The recognition shall be subject to the conditions that the insolvency professional entity shall-
(a) at all times continue to satisfy the requirements under Regulation 12;
(b) inform the Board, within seven days, when an insolvency professional ceases to be its director or partner, as the case may be,
(c) inform the Board, within seven days, when an insolvency professional joins as its director or partner, as the case may be, and
(d) abide by such other conditions as may be specified.
(3) An insolvency professional entity shall be jointly and severally liable for all acts or omissions of its partners or directors as insolvency professionals committed during such partnership or directorship.
14. Where the Board is of the opinion that sufficient cause exists for de-recognition of an insolvency professional entity, it may do so by passing a reasoned order.
FIRST SCHEDULE
[Under Regulation 7(2)(g)]
CODE OF CONDUCT FOR INSOLVENCY PROFESSIONALS
Integrity and objectivity.
1. An insolvency professional must maintain integrity by being honest, straightforward, and forthright in all professional relationships.
2. An insolvency professional must not misrepresent any facts or situations and should refrain from being involved in any action that would bring disrepute to the profession.
3. An insolvency professional must act with objectivity in his professional dealings by ensuring that his decisions are made without the presence of any bias, conflict of interest, coercion, or undue influence of any party, whether directly connected to the insolvency proceedings or not.
4. An insolvency professional appointed as an interim resolution professional, resolution professional, liquidator, or bankruptcy trustee should not himself acquire, directly or indirectly, any of the assets of the debtor, nor knowingly permit any relative to do so.
Independence and impartiality.
5. An insolvency professional must maintain complete independence in his professional relationships and should conduct the insolvency resolution, liquidation or bankruptcy process, as the case may be, independent of external influences.
6. In cases where the insolvency professional is dealing with assets of a debtor during liquidation or bankruptcy process, he must ensure that he or his relatives do not knowingly acquire any such assets, whether directly or indirectly unless it is shown that there was no impairment of objectivity, independence or impartiality in the liquidation or bankruptcy process and the approval of the Board has been obtained in the matter.
7. An insolvency professional shall not take up an assignment under the Code if he, any of his relatives, any of the partners or directors of the insolvency professional entity of which he is a partner or director, or the insolvency professional entity of which he is a partner or director is not independent, in terms of the Regulations related to the processes under the Code, in relation to the corporate person/ debtor and its related parties.
8. An insolvency professional shall disclose the existence of any pecuniary or personal relationship with any of the stakeholders entitled to distribution under sections 53 or 178 of the Code, and the concerned corporate person/ debtor as soon as he becomes aware of it, by making a declaration of the same to the applicant, committee of creditors, and the person proposing appointment, as applicable.
9. An insolvency professional shall not influence the decision or the work of the committee of creditors or debtor, or other stakeholders under the Code, so as to make any undue or unlawful gains for himself or his related parties, or cause any undue preference for any other persons for undue or unlawful gains and shall not adopt any illegal or improper means to achieve any mala fide objectives.
Professional competence.
10. An insolvency professional must maintain and upgrade his professional knowledge and skills to render competent professional service.
Representation of correct facts and correcting misapprehensions.
11. An insolvency professional must inform such persons under the Code as may be required, of a misapprehension or wrongful consideration of a fact of which he becomes aware, as soon as may be practicable.
12. An insolvency professional must not conceal any material information or knowingly make a misleading statement to the Board, the Adjudicating Authority or any stakeholder, as applicable.
Timeliness.
13. An insolvency professional must adhere to the time limits prescribed in the Code and the rules, regulations and guidelines thereunder for insolvency resolution, liquidation or bankruptcy process, as the case may be, and must carefully plan his actions, and promptly communicate with all stakeholders involved for the timely discharge of his duties.
14. An insolvency professional must not act with mala fide or be negligent while performing his functions and duties under the Code.
Information management.
15. An insolvency professional must make efforts to ensure that all communication to the stakeholders, whether in the form of notices, reports, updates, directions, or clarifications, is made well in advance and in a manner which is simple, clear, and easily understood by the recipients.
16. An insolvency professional must ensure that he maintains written contemporaneous records for any decision taken, the reasons for taking the decision, and the information and evidence in support of such decision. This shall be maintained so as to sufficiently enable a reasonable person to take a view on the appropriateness of his decisions and actions.
17. An insolvency professional must not make any private communication with any of the stakeholders unless required by the Code, rules, regulations and guidelines thereunder, or orders of the Adjudicating Authority.
18. An insolvency professional must appear, co-operate and be available for inspections and investigations carried out by the Board, any person authorised by the Board or the insolvency professional agency with which he is enrolled.
19. An insolvency professional must provide all information and records as may be required by the Board or the insolvency professional agency with which he is enrolled.
20. An insolvency professional must be available and provide information for any periodic study, research and audit conducted by the Board.
Confidentiality.
21. An insolvency professional must ensure that confidentiality of the information relating to the insolvency resolution process, liquidation or bankruptcy process, as the case may be, is maintained at all times. However, this shall not prevent him from disclosing any information with the consent of the relevant parties or required by law.
Occupation, employability and restrictions.
22. An insolvency professional must refrain from accepting too many assignments, if he is unlikely to be able to devote adequate time to each of his assignments.
23. An insolvency professional must not engage in any employment, except when he has temporarily surrendered his certificate of membership with the insolvency professional agency with which he is registered.
24. An insolvency professional must not conduct business which in the opinion of the Board is inconsistent with the reputation of the profession.
Remuneration and costs.
25. An insolvency professional must provide services for remuneration which is charged in a transparent manner, is a reasonable reflection of the work necessarily and properly undertaken, and is not inconsistent with the applicable regulations.
26. An insolvency professional shall not accept any fees or charges other than those which are disclosed to and approved by the persons fixing his remuneration.
27. An insolvency professional shall disclose all costs towards the insolvency resolution process costs, liquidation costs, or costs of the bankruptcy process, as applicable, to all relevant stakeholders, and must endeavour to ensure that such costs are not unreasonable.
Gifts and hospitality.
28. An insolvency professional, or his relative must not accept gifts or hospitality which undermines or affects his independence as an insolvency professional.
29. An insolvency professional shall not offer gifts or hospitality or a financial or any other advantage to a public servant or any other person, intending to obtain or retain work for himself, or to obtain or retain an advantage in the conduct of profession for himself.
SECOND SCHEDULE
FORM A
[Under Regulation 6 or Regulation 9 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016]
To
The Chairperson
Insolvency and Bankruptcy Board of India
Subject: Application for registration as an insolvency professional / insolvency professional for limited period
Sir/Madam,
I, having been enrolled as a professional member with the (please write the name of the insolvency professional agency), hereby apply for registration as
(a) an insolvency professional /
(b) an insolvency professional for limited period (strike off which is not applicable)
under section 207 of the Insolvency and Bankruptcy Code, 2016 read with Regulation 6 or Regulation 9 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016.
My details are as under:
1. Title (Mr/Mrs/Ms):
2. Name:
3. Father's Name:
4. Date of Birth:
5. Place of Birth:
6. PAN No.:
7. AADHAAR No.:
8. Passport No.:
9. Address for Correspondence:
10. Permanent Address:
11. E-Mail Address:
12. Mobile No.:
B. EDUCATIONAL, PROFESSIONAL AND INSOLVENCY EXAMINATION QUALIFICATIONS
1. Educational Qualifications
[Please provide educational qualifications from Bachelor's degree onwards]
| Educational | Year of | Marks (%) | Grade/ Class | University/College | Remarks, if any |
| Qualification | Passing |
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2. Professional Qualifications
| Professional | Institute / Professional | Membership No. (if | Date of enrolment | Remarks, if any |
| Qualification | Body | applicable) |
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3. Insolvency Qualifications
3.1. Have you passed Limited Insolvency Examination? (Yes / No)
3.2. Have you passed National Insolvency Examination? (Yes / No)
C. WORK EXPERIENCE
1. Are you presently in practice / employment? (Yes/ No)
2. Number of years in practice (in years and months):
3. If in practice, address for professional correspondence:
4. Number of years in employment (in years and months):
5. Experience Details (from the date of enrolment as Advocate / Chartered Accountant / Company Secretary / Cost Accountant/ Bachelors' Degree)
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| No. | Date | Date | Practice | Name of | Advocate / Chartered Accountant | work |
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| Designation | Accountant |
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D. INSOLVENCY PROFESSIONAL AGENCY
1. Please give details of the insolvency professional agency with which you are enrolled as a professional member.
2. Please state your professional membership number.
E. ADDITIONAL INFORMATION
1. Have you ever been convicted for an offence? Yes/ No. If yes, please give details.
2. Are any criminal proceedings pending against you? (Yes/ No) If yes, please give details.
3. Have you ever been declared as an undischarged insolvent, or applied to be declared so? (Yes/ No) If yes, please give details.
4. Please provide any additional information that may be relevant for your application.
F. ATTACHMENTS
1. Copy of proof of residence.
2. Copies of documents in support of educational qualifications, professional qualification and insolvency examination qualifications.
3. Copies of documents demonstrating practice as -
i. a chartered accountant enrolled with the Institute of Chartered Accountants of India;
ii. a company secretary enrolled with the Institute of Company Secretaries of India;
iii. a cost accountant enrolled with the Institute of Cost Accountants of India; or
iv. an advocate enrolled with the Bar Council of any State in India;
4. Copies of certificate of employment from the employer(s), specifying the period of such employment.
5. Financial statement / Income Tax Returns for the last three years.
6. Copy of certificate of professional membership with an insolvency professional agency.
7. Passport-size photo.
8. Evidence of deposit / payment of five thousand rupees / ten thousand rupees, as applicable.
G. AFFIRMATIONS
1. Copies of documents, as listed in section F of this application form have been attached/ uploaded. The documents attached/ uploaded are ……
I undertake to furnish any additional information as and when called for.
2. I am not disqualified from being registered as an insolvency professional under the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016.
3. This application and the information furnished by me along with this application is true and complete. If found false or misleading at any stage, my registration/ registration for limited period shall be summarily cancelled.
4. I hereby undertake to comply with the requirements of the Insolvency and Bankruptcy Code, 2016, the rules, regulations and guidelines issued thereunder, the bye-laws of the insolvency professional agency with which I am enrolled, and the resolutions passed and directions given by the Board and the Governing Board of such insolvency professional agency.
5. The applicable fee has been paid.
Name and Signature of applicant
Place:
Date:
______________________________
VERIFICATION BY THE INSOLVENCY PROFESSIONAL AGENCY
We have verified the above details submitted by … w ho is our professional member with professional membership no. … and confirm these to be true and correct. We reco mmend registration of … as an insolvency profession al.
(Name and Signature) Authorised Representative of the Insolvency Professional Agency Seal of the Insolvency Professional Agency
Place:
Date:
SECOND SCHEDULE
FORM B
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
CERTIFICATE OF REGISTRATION
IP REGISTRATION NO. __
[Under Regulation 7 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016]
1. In exercise of the powers conferred by Regulation 7 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 the Board hereby grants a certificate of registration to [insert name], to act as an insolvency professional in accordance with these Regulations.
2. This certificate shall be valid from [insert start date].
Sd/-
(Name and Designation)
For and on behalf of Insolvency and Bankruptcy Board of India
Place:
Date:
SECOND SCHEDULE
FORM C
[Under Regulation 12 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016]
To
The Chairperson
Insolvency and Bankruptcy Board of India
Sub.: Application for recognition as an insolvency professional entity
Sir/Madam,
1. I, being duly authorized for the purpose, hereby apply on behalf of [name and address of the applicant] for recognition as an insolvency professional entity under the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016, and enclose proof that I am authorized to make this application and correspond with the Board in this respect.
2. I, on behalf of [insert name], affirm that the applicant is eligible to be recognised as an insolvency professional entity.
3. I, on behalf of [insert name], hereby affirm that –
i. all information contained in this application is true and correct in all material respects,
ii. no material information relevant for the purpose of this application has been suppressed, and
iii. recognition granted in pursuance of this application may be cancelled summarily if any information submitted herein is found to be false or misleading in material respects at any stage.
4. If granted recognition, I, on behalf of [insert name], undertake to comply with the requirements of the Code, the rules, regulations or guidelines issued thereunder, and such other terms and conditions as may be imposed by the Board while granting the certificate of recognition or subsequently.
Yours faithfully,
Authorized Signatory
(Name)
(Designation)
Place :
Date :
ANNEXURE TO FORM C
PART I
GENERAL
1. Name of the applicant:
2. Address of registered office and principal place of business of the applicant:
3. Corporate Identification Number (CIN)/ Certificate of Registration:
4. PAN:
5. Name, designation and contact details of the person authorized to make this application and correspond with the Board in this respect:
PART II
DIRECTORS/ PARTNERS
1. Please state the details of all directors/ partners of the applicant:
| Sl. | Name and address of | DIN | PAN | Registration | No. | as | an | Professional membership No. |
| No. | the director/ partner |
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| insolvency professional |
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Yours faithfully,
Authorized Signatory
(Name)
(Designation)
Place :
Date :
SECOND SCHEDULE
FORM D
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
CERTIFICATE OF RECOGNITION
INSOLVENCY PROFESSIONAL ENTITY RECOGNITION NO. __
[Under Regulation 13 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016]
1. In exercise of the powers conferred by Regulation 13 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 the Board hereby grants a certificate recognising [insert name], as an insolvency professional entity.
2. This certificate of recognition shall be valid from [insert start date].
Sd/-
(Name and Designation)
For and on behalf of Insolvency and Bankruptcy Board of India
Place:
Date:
DR. M. S. SAHOO, Chairperson [ADVT.-III/4/Exty./314/16(482)
| Nishok | Digitally signed by |
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| Nishok Kumar Paria |
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Kumar Paria Date: 2016.11.24
23:29:42 +05'30'
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.
