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of <h1>Insolvency Board must issue show-cause notice if prima facie case found under Regulation 11; 2022 amendment applies.</h1> The Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017, under Chapter IV, Regulation 11, mandates that the Board promptly considers inspection or investigation reports received under specified regulations. If, after review, the Board finds a prima facie reason to act under section 220 or subsection (2) of section 236, it must issue a show-cause notice to the relevant service provider or associated person per regulation 12. If no such cause is found, the inspection or investigation is to be closed. An amendment in 2022 allows consideration of additional material on record.
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