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of <h1>Competent Authority's Powers Under Regulation 53: Fresh Inquiry, Disagree with Findings, Impose Penalties or Exonerate</h1> Regulation 53 of the Insolvency and Bankruptcy Board of India (Employees' Service) Regulations, 2017 outlines the actions the Competent Authority may take following an inquiry report. If not the Inquiry Officer, the Competent Authority can order a fresh or further inquiry, providing written reasons. It may disagree with the Inquiry Officer's findings, recording its reasons and findings if evidence suffices. Based on the findings, the Competent Authority can impose penalties as per regulation 51 or exonerate the employee if no penalty is warranted.
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