Eligibility for appointment as liquidator

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..... appointed as a liquidator if he, and every partner or director of the insolvency professional entity of which he is a partner or director, is independent of the corporate debtor. Explanation A person shall be considered independent of the corporate debtor, if he- (a) is eligible to be appointed as an independent director on the board of the corporate debtor under section 149 of the Comp .....

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..... tor if the insolvency professional entity of which he is a director or partner, or any other partner or director of such insolvency professional entity represents any other stakeholder in the same liquidation process. ******************** Notes:- 1. Substituted vide No. IBBI/2017-18/GN/REG028 - Dated 27-03-2018 , before it was read as, company secretaries - - statut .....

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