Once a disciplinary proceeding is initiated by the IBBI against RP on the recommendation of AA, the final order is required to be passed by the IBBI & the AA can’t quash the proceeding initiated by IBBI – Insolvency and Bankruptcy Board of India (IBBI) Vs. Shri Rishi Prakash Vats & Ors. – NCLAT

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Compliance with regulations 7 (2) (ca) & 13 (2) (ca) of the IBBI (Insolvency Professionals) Regulations, 2016

Compliance with regulations 7 (2) (ca) and 13 (2) (ca) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 Ref. : IBBI CIRCULAR No. No. IBBI/IP/020/2019 dt. 12th April, 2019   Regulation 7 (2) (ca) of the…

An insolvency professional(IP) 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-Mr. Dinkar T. Venkatasubramani- IBBI

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IP must perform his defined role under the Code and must not usurp other’s role and must not allow others to usurp his role- Mr. Mukesh Mohan, Insolvency Professional- IBBI

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WhatsApp Bulletin-26