Section 200 of Insolvency and Bankruptcy Code, 2016 (IBC): Principles governing registration of insolvency professional agency

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.

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Reference

*Effective from 15.11.2016.