TMI BlogInsolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2023X X X X Extracts X X X X X X X X Extracts X X X X ..... 2016 (hereinafter referred to as the principal regulations ), (1) in regulation 5, in clause (b) , after the words pre-registration educational course , the words within twelve months from the date of payment of non-refundable application fee under regulation 6 , shall be inserted. (2) in regulation 6 , (i) for sub-regulation (1), the following sub-regulation shall be substituted, namely: - (1) An individual enrolled with an insolvency professional agency as a professional member may make an application to the Board through the insolvency professional agency of which he is a member, in Part II of Form A of the Second Schedule to these Regulations, along with a nonrefundable application fee of twenty thousand rupees to the Board. (ii) for sub-regulation (1A), the following sub-regulation shall be substituted, namely: - (1A) An insolvency professional entity eligible for registration as an insolvency professional under sub-regulation (2) of regulation 4 may make an application to the Board through the insolvency professional agency of which it is a member, in Part II of Form AA of Second Schedule to these Regulations, along with a non-refundable applic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... self to be a holder of the certificate for carrying out the activity for which such certificate had been granted. 10B. Special procedure for action on surrender, expulsion, etc. (1) While disposing of the matter under this regulation, the Board shall not be bound by the procedure specified in regulation 11. (2) On receipt of information under clause (e) and (f) of sub-regulation (1) of regulation 10, the Board may issue a notice, if required, to such professional member, calling upon it to explain as to why the certificate of registration, granted under the regulations, should not be cancelled. (3) The professional member may make written submission(s), if any, within a period not exceeding twenty-one days from the date of service of notice. (4) On being satisfied with the submission(s) made under sub-regulation (3), the Board may decide to cancel the registration or issue directions to complete the ongoing assignments, make pending compliances including payment of fee, etc. (5) The Board shall communicate its decision under sub-regulation (4) within thirty days from date of receipt of written submissions under sub-regulation (3). (6) On receipt of informatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed e-mail address) : 15. Mobile No. (Note: This shall be recorded as the registered mobile number) : 16. Residential Status: Person resident in India/ Person resident outside India (strike off whichever is not applicable) [in terms of section 3 (24) or 3 (25) of Insolvency and Bankruptcy Code, 2016] B. EDUCATIONAL, PROFESSIONAL AND INSOLVENCY EXAMINATION QUALIFICATIONS (i) Educational Qualifications [Please provide educational qualifications from Bachelor s degree onwards] Sl. No. Educational qualification University /College Year of Passing Marks Secured (%) Grade/ Class Remarks, if any (1) (2) (3) (4) (5) (6) (7) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mm (iii) Total period in employment (years and completed months): yy / mm (iv) Details of experience (from the date of enrolment as an Advocate / Chartered Accountant/ Company Secretary / Cost Accountant / After Bachelors Degree / After Master Degree / After Post Graduate Diploma) SI. No. From Date (dd-mmyyyy ) To Date (dd-mmyyyy) Employment Practice Area of Work Name and Address of Employer Designation Advocate/ CA/CS/CMA Name of Firm and Firm Registration Number, if applicable (1) (2) (3) (4) (5) (6) (7) (8) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... isation. 10. Evidence of deposit / payment of applicable fee. 11. Details of information with respect to conviction, criminal proceedings, insolvency/bankruptcy order, disciplinary proceedings/actions, and any other additional information relevant for the application, as may be applicable (including brief facts, copy of relevant orders and present status thereof) as separate enclosures. F. UNDERSTANDING I understand and agree that my enrolment with the and completion of preregistration educational course, subsequently, does not entitle me to the registration, which is subject to me complying with requirements applicable under the Insolvency and Bankruptcy Code, 2016 read with the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016. G. AFFIRMATIONS I affirm that I am eligible to be enrolled as a professional member under the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016 read with sections 205 of the Insolvency and Bankruptcy Code, 2016. 2. I affirm that the information furnished by me in this application is correct and complete to the be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olvency professional agency. 2. Copy of certificate of completion of pre-registration educational course. 3. Evidence of deposit / payment of applicable fee. 4. Copy of proof towards information updated in the Form A, wherever applicable. Name and signature of applicant Place: Date: Part - III TO BE SUBMITTED BY THE INSOLVENCY PROFESSIONAL AGENCY [For the purposes of registration as an Insolvency Professional] To, The Executive Director (IP Division) Insolvency and Bankruptcy Board of India Subject: Application for registration as an insolvency professional Sir / Madam, The application for registration received from [ Name of the applicant ] after obtaining the membership [ Professional Membership Number ], under section 207 of the Insolvency and Bankruptcy Code, 2016 read with regulation 6 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 [IP Regulations] is hereby submitted to the Board. We have verified as under: SI. No. Verification Finding 1 Whether the applicant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Proclaimed Offenders under section 82 of the Code of Criminal Procedure, 1973. Yes / No. If Yes, give details and supporting document. 9 Whether the professional member has been penalised by SEBI or CCI in the last three years? Yes / No. If Yes, give details and supporting document. 10 Whether the name of professional member appears in the list of defaulters of RBI / Credit Information Company? Yes / No. If Yes, give details and supporting document. 11 Whether the professional member has been convicted of any offence? Yes / No. If Yes, give details and supporting document. We have verified the above details submitted by who is our professional member with and confirm these to be true and correct. We recommend registration of as an insolvency professional with IBBI. (Name and Signature) Authorised Officer of the Insolvency Professional Agency (Seal of the Insolvency Professional Agency) Place: Date: 4. In principal regulations , in Second Schedule ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he applicant entity are fit and proper person in terms of regulation 4(g) of IP Regulations? (Yes/ No) If No, please give complete details along with current status. 6. Please provide any additional information that may be relevant. AFFIRMATIONS 1. I, on behalf of [name of the applicant entity], affirm that the applicant entity has at all times complied with regulations 12 and 13 of the IP Regulations. 2. I, on behalf of [name of the applicant entity], affirm that the applicant entity is eligible to be enrolled as a professional member with the insolvency professional agency. 3. I, on behalf of [name of the applicant entity], hereby affirm that (i) all information contained in this application is true and correct in all material respects, (ii) no material information relevant for the purpose of this application has been suppressed, and (iii) enrolment granted in pursuance of this application may be cancelled summarily if any information submitted herein is found to be false or misleading in material respects at any stage. 4. I, hereby confirm that the applicable fee has been paid to the agency vide [please enter the payment details along wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s at any stage. 4. I, hereby confirm that the applicable fee has been paid to the Board vide [please enter the payment details along with date of making the payment] and enclose proof thereof. 5. If granted certificate of registration, I, on behalf of [name of the insolvency professional entity], undertake to comply with the requirements of the Code, the rules, regulations or circulars or guidelines issued thereunder, and such other terms and conditions as may be imposed by the Board while granting the certificate of registration or subsequently. Yours faithfully, Authorized Signatory (Name) (Designation) (Insolvency Professional Registration Number-----------) (Name of the Insolvency Professional Entity--------) (Recognition Number of the Insolvency Professional Entity----) Place: Date: ATTACHMENTS 1. Certified copy of Board / Partners Resolution authorising the person to make this application and correspond with the Board in this respect. 2. Copy of Certificate of Membership issued by the Insolvency Professional Agency. 3. Evidence of deposit / payment of applicable fee. 4. Copy of proof towards information updated in t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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