The Insolvency and Bankruptcy Code, 2016
Part-IV Regulation of Insolvency Professionals, Agencies and Information Utilities
Chapter-III Insolvency Professional Agencies
Section 200: 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 the services of competent insolvency professionals to cater to the needs of debtors, creditors and such other persons as may be specified;
(c) to promote good professional and ethical conduct amongst insolvency professionals;
(d) to protect the interests of debtors, creditors and such other persons as may be specified;
(e) to promote the growth of insolvency professional agencies for the effective resolution of insolvency and bankruptcy processes under this Code.
*Effective from 15.11.2016.