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        IBC

        Section 203 - Governing Board of insolvency professional agency.

        Insolvency and Bankruptcy Code, 2016
        Chapter III (of Part IV)
        INSOLVENCY PROFESSIONAL AGENCIES

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        Governing board regulations may mandate composition and independent membership requirements for insolvency professional agencies to meet Code objectives. The Board may make regulations requiring each insolvency professional agency to establish a governing board and to specify the minimum number of independent members and the number of insolvency professionals who must be members, so that agency governance aligns with the objectives of the Code.
                      Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                      Provisions expressly mentioned in the judgment/order text.

                          Governing board regulations may mandate composition and independent membership requirements for insolvency professional agencies to meet Code objectives.

                          The Board may make regulations requiring each insolvency professional agency to establish a governing board and to specify the minimum number of independent members and the number of insolvency professionals who must be members, so that agency governance aligns with the objectives of the Code.


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