IBBI mandates IP to inform the Board within 7 days from joining as director or partner - Taxsure Consultancy Services

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Wednesday, September 5, 2018

IBBI mandates IP to inform the Board within 7 days from joining as director or partner

In the context of Reg. IBBI (Bankruptcy Professional) regulations 13 (2), 2016 directs the IBBI Bankruptcy Professional Unit (IPE) to notify the Board within 7 days from the date when a bankrupt professional becomes its director or partner or his partner Or as a director. Apart from this, it states that if the bankruptcy professional has failed to report in the past, then they will have to inform the Board about its termination or after 7 September 2018, it is not necessary to join the company as a partner or director. is. In addition, it directs that the information should be provided by the authorized signatory of the IPE in the format given in the attachment on the Ipe@ibbi.gov.in from the email address registered with the board of information required. In addition, IBBI stated that the failure to comply with the IPE will be withdrawn to the recognized recognition.

Related instructions have been taken in the context of reggae. IBBI (Bankruptcy Professional) Regulations, 13 (2) of 2016, which are as given below:

"(2) Recognition will be subject to the conditions which the bankruptcy professional unit-
(A) all the time continue to meet the requirements under regulation 12;
(B) Notify the Board, within seven days, when a bankrupt professional stops
As is the case, be its director or partner;
(C) Notify the Board, within seven days, when a bankrupt professional is involved
Its director or partner, as the case may be; And
(D) Other specified conditions can be specified as follow. "

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