The Insolvency and Bankruptcy Code, 2016
Part-IV Regulation of Insolvency Professionals, Agencies and Information Utilities
Chapter-I The Insolvency and Bankruptcy Board of India
Section 193: Member not to participate in meetings in certain cases.
*193. Any member, who is a director of a company and who as such director has any direct or indirect pecuniary interest in any matter coming up for consideration at a meeting of the Board, shall, as soon as possible after relevant circumstances have come to his knowledge, disclose the nature of his interest at such meeting and such disclosure shall be recorded in the proceedings of the Board, and the member shall not take any part in any deliberation or decision of the Board with respect to that matter.
*Effective from 05.08.2016.