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of <h1>Insolvency and Bankruptcy Code Board regulates and monitors professionals, ensuring compliance and ethical standards under Central Government direction.</h1> The Board under the Insolvency and Bankruptcy Code, 2016, operates under the Central Government's direction to regulate insolvency professional agencies, professionals, and information utilities. Its functions include registration, regulation, and monitoring of these entities, specifying eligibility and standards, conducting inspections, and ensuring compliance with the Code. The Board can levy fees, collect data, and promote transparency. It may issue guidelines, handle grievances, and conduct research. Additionally, it can make regulations and model bye-laws for professional competence and ethical standards. The Board holds civil court powers for document discovery, summoning individuals, and inspecting records.
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