Insolvency Professionals can get themselves enrolled as professional members with IPAs
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- Last Updated on 7 October, 2022
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Notification no. IBBI/2022-23/GN/REG100, Dated 03-10-2022
IBBI has notified the IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2022. An amendment has been made in clauses 9, 10, 12 & 12A of the Schedule of the IBBI (Model Bye-Laws and Governing Board of IPAs) Regulations, 2016.
Under the extant norms, clause 9 of the schedule of IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, mandates that an individual shall not be enrolled as a professional member if he is not eligible to be registered as an insolvency professional with the Board. The amended norms prescribe that an insolvency professional entity, recognised by the Board can also be enrolled as a professional member subject to the condition that it is eligible to be registered as an insolvency professional with the Board.
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