Regulation 11 - Consideration of Report - Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017

CHAPTER IV CONSIDERATION OF REPORT Consideration of Report 11. (1) The Board shall consider the inspection report received under regulation 6 or investigation report received under regulation 10, as the case may be, expeditiously. (2) If the Board, after consideration of the report under sub-regulation (1), 1 [ or on the basis of material otherwise available on record ] is of the prima facie opinion that sufficient cause exists to take actions under section 220 or sub-section (2) of section 236, it shall issue a show-cause notice in accordance with regulation 12 to the service provider or an associated person and in any other case, close the inspection or investigation, as the case may be. ************** NOTES:- 1. Inserted vide Notification No. IBBI/2022-23/GN/REG087 dated 14-06-2022