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PART IV<br/>REGULATION OF INSOLVENCY PROFESSIONALS,<br/>AGENCIES AND INFORMATION UTILITIES<br/>CHAPTER I<br/>THE INSOLVENCY AND BANKRUPTCY BOARD OF INDIA<br/>188. Establishment and incorporation of Board<br/>189. Constitution of Board<br/>190. Removal of member from office<br/>191. Powers of Chairperson<br/>192. Meetings of Board<br/>193. Member not to participate in meetings in certain cases<br/>194. Vacancies, etc., not to invalidate proceedings of Board, Officers and employees of Board<br/>195. Power to designate financial sector regulator<br/>CHAPTER II<br/>POWERS AND FUNCTIONS OF THE BOARD<br/>196. Powers and functions of Board<br/>197. Constitution of advisory committee, executive committee or other committee<br/>198. Condonation of delay<br/>CHAPTER III<br/>INSOLVENCY PROFESSIONAL AGENCIES<br/>199. No person to function as insolvency professional agency without valid certificate of registration<br/>200. Principles governing registration of insolvency professional agency<br/>201. Registration of insolvency professional agency<br/>202. Appeal to National Company Law Appellate Tribunal<br/>203. Governing Board of insolvency professional agency<br/>204. Functions of insolvency professional agencies<br/>205. Insolvency professional agencies to make bye-laws<br/>CHAPTER IV<br/>INSOLVENCY PROFESSIONALS<br/>206. Enrolled and registered persons to act as insolvency professionals<br/>207. Registration of insolvency professionals<br/>208. Functions and obligations of insolvency professionals<br/>CHAPTER V<br/>INFORMATION UTILITIES<br/>209. No person to function as information utility without certificate of registration<br/>210. Registration of information utility<br/>211. Appeal to National Company Law Appellate Tribunal<br/>212. Governing Board of information utility<br/>213. Core services, etc., of information utilities<br/>214. Obligations of information utility<br/>215. Procedure for submission, etc., of financial information<br/>216. Rights and obligations of persons submitting financial information<br/>CHAPTER VI<br/>INSPECTION AND INVESTIGATION<br/>217. Complaints against insolvency professional agency or its member or information utility<br/>218. Investigation of insolvency professional agency or its member or information utility<br/>219. Show cause notice to insolvency professional agency or its member or information utility<br/>220. Appointment of disciplinary committee<br/>CHAPTER VII<br/>FINANCE, ACCOUNTS AND AUDIT<br/>221. Grants by Central Government<br/>222. Board’s Fund<br/>223. Accounts and audit<br/>PART V<br/>MISCELLANEOUS<br/>224. Insolvency and Bankruptcy Fund<br/>225. Power of Central Government to issue directions<br/>226. Power of Central Government to supersede Board<br/>227. Power of Central Government to notify financial service providers, etc.<br/>228. Budget<br/>229. Annual report<br/>230. Delegation<br/>231. Bar of jurisdiction<br/>232. Members, officers and employees of Board to the public servants<br/>233. Protection of action taken in good faith<br/>234. Agreements with foreign countries<br/>235. Letter of request to a country outside India in certain cases<br/>235A. Punishment where no specific penalty or punishment is provided<br/>236. Trial of offences by Special Court<br/>237. Appeal and revision<br/>238. Provisions of this Code to override other laws<br/>238A. Limitation<br/>239. Power to make rules<br/>240. Power to make regulations<br/>240A. Application of this Code to micro, small and medium enterprises<br/>241. Rules and regulations to be laid before Parliament<br/>242. Power to remove difficulties<br/>243. Repeal of certain enactments and savings<br/>244. Transitional provisions<br/>245. Amendments of Act 9 of 1932<br/>246. Amendments of Act 1 of 1944<br/>247. Amendments of Act 43 of 1961<br/>248. Amendments of Act 52 of 1962<br/>249. Amendments of Act 51 of 1993<br/>250. Amendments of Act 32 of 1994<br/>251. Amendments of Act 54 of 2002<br/>252. Amendments of Act 1 of 2004<br/>253. Amendments of Act 51 of 2007<br/>254. Amendments of Act 6 of 2009<br/>255. Amendments of Act 18 of 2013<br/>The First Schedule Amendment to the Indian Partnership Act, 1932<br/>The Second Schedule Amendment to the Central Excise Act, 1944<br/>The Third Schedule Amendment to the Income-Tax Act, 1961<br/>The Fourth Schedule Amendment to the Customs Act, 1962<br/>The Fifth Schedule Amendment to the Recovery of Debts Due to Banks and Financial Institutions Act, 1993<br/>The Sixth Schedule Amendment to the Finance Act, 1994<br/>The Seventh Schedule Amendment to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002)<br/>The Eighth Schedule Amendment to the Sick Industrial Companies (Special Provisions) Repeal Act, 2003<br/>The Ninth Schedule Amendment to the Payment and Settlement Systems Act, 2007<br/>The Tenth Schedule Amendment to the Limited Liability Partnership Act, 2008<br/>The Eleventh Schedule Amendments to the Companies Act, 2013<br/>The Twelfth Schedule Acts for the purposes of clause (d) of section 29A<br/>Division II<br/>Insolvency and Bankruptcy Code, 2016<br/>alongwith Notifications, Circulars,<br/>Guidelines, Orders, Regulations & Rules<br/>A. IBC, 2016<br/>1 The Insolvency and Bankruptcy Code, 2016<br/>B. Orders<br/>2 Relevant Orders<br/>C. Notifications<br/>3 Notifications<br/>D. Circulars<br/>4 Circulars<br/>E. Guidelines<br/>5 Guidelines<br/>F. Regulations<br/>6 Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016<br/>7 Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016<br/>8 Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021<br/>9 Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017<br/>10 Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017<br/>11 Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019<br/>12 Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019<br/>13 Insolvency and Bankruptcy Board of India (Procedure for Governing Board Meetings) Regulations, 2017<br/>14 Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) Regulations, 2017<br/>15 Insolvency and Bankruptcy Board of India (Insolvency Professional Agencies) Regulations, 2016<br/>16 Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016<br/>17 Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016<br/>18 Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017<br/>19 The Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017<br/>20 Insolvency and Bankruptcy Board of India (Mechanism for Issuing Regulations) Regulations, 2018<br/>21 Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations, 2017<br/>22 Insolvency and Bankruptcy Board of India (Advisory Committee) Regulations, 2017<br/>G. Rules<br/>23 Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016<br/>24 Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019<br/>25 Insolvency and Bankruptcy (Application to Adjudicating Authority for Bankruptcy Process for Personal Guarantors to Corporate Debtors) Rules, 2019<br/>26 Insolvency and Bankruptcy (Pre-packaged Insolvency Resolution Process) Rules, 2021<br/>27 Insolvency and Bankruptcy Board of India (Salary, Allowances and other terms and Conditions of Service of Chairperson and Members) Rules, 2016<br/>28 Insolvency and Bankruptcy Board of India (Medical Facility to Chairperson and Whole-time Members) Scheme Rules, 2019<br/>29 Insolvency and Bankruptcy Board of India (Form of Annual Statement of Accounts) Rules, 2018<br/>30 Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019<br/>31 Insolvency and Bankruptcy Board of India (Annual Report) Rules, 2018<br/>H. Scheme<br/>32 Insolvency and Bankruptcy Board of India (Medical Facility to Chairperson and Whole-time Members) Scheme, 2019<br/>I. NCLT<br/>33 National Company Law Tribunal Rules, 2016<br/>34 National Company Law Appellate Tribunal Rules, 2016<br/>35 Constitution of Benches of NCLT and NCLAT<br/>36 Companies (Transfer of Pending Proceedings) Rules, 2016<br/><br/>Division III<br/>Allied Acts & Rules<br/>1 The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002<br/>2 Security Interest (Enforcement) Rules, 2002<br/>3 The Recovery of Debts and Bankruptcy Act, 1993<br/>4 Debts Recovery Tribunal (Procedure) Rules, 1993<br/>5 Debts Recovery Appellate Tribunal (Procedure) Rules, 1994<br/>Division IV<br/>Prudential Framework for Resolution of Stressed Assets<br/>I. Prudential Framework for Resolution of Stressed Assets: Press Release: 2018-2019/2886, dated 7-6-2019<br/>II. Prudential Framework for Resolution of Stressed Assets: DBR.No.BP.BC.45/21.04.048/2018-19, dated 7-6-2019<br/>Division V<br/>Reports on IBC<br/>1. Report on the rules and regulations for cross-border insolvency resolution<br/>2. Report of the Sub-Committee of the Insolvency Law Committee on Pre-packaged Insolvency Resolution Process<br/>3. Report of Insolvency Law Committee on Cross Border Insolvency<br/>4. Report of the Insolvency Law Committee<br/>5. Report of the Bankruptcy Law Reforms Committee |
