Unresponsiveness in Corporate Insolvency Resolution Processes: IBBI cancels Registration of IP

The New Delhi bench of the Insolvency Bankruptcy Board of India (IBBI) observed that Disciplinary Committee Highlights Risks of Insolvency Professionals Unresponsiveness in Corporate Resolution Process
By Aiswarya Krishnadas - On December 14, 2023 4:45 pm - 2 mins read
Insolvency Bankruptcy Board of India - Registration Of IP - IBBI cancels Registration - Corporate Insolvency Resolution - Resolution Processes - TAXSCAN

The IBBI New Delhi Bench has cancelled the registration of IP. The Disciplinary Committee (DC) notes that IP did not respond to notices from various IAs on numerous occasions. Moreover, he failed to submit any forms listed in regulation 40B of the CIRP Regulations, which are designed to aid Insolvency Professionals (IPs) in complying with statutory…

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