Regulation 10 - Appointment of professionals - Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021

10. Appointment of professionals. The resolution professional may appoint a professional under clause (e) of sub-section (3) of section 54F: Provided that the following persons shall not be appointed as a professional, namely:- (a) a person who is not registered with the regulator of the profession concerned; (b) a related party of the corporate debtor; (c) an auditor of the corporate debtor at any time during the five years preceding the pre-packaged insolvency commencement date; (d) a partner or director of the insolvency professional entity of which the resolution professional is a partner or director; or (e) a relative of the resolution professional or of a partner or director of the insolvency professional entity of which the resolution professional is a partner or director.