Disciplinary disposal of show cause notices: reasoned orders imposing sanctions, publication, and measures to ensure continuity and compliance. The Disciplinary Committee must provide a hearing and issue a reasoned order disposing of a show-cause notice, with an expectation of timely disposal. Permissible outcomes include closure, warning, suspension or cancellation of authorisation for assignment of an insolvency professional, actions under designated statutory provisions, referral to the Board, or other directions. Orders normally become effective after thirty days unless reasons are stated otherwise; they must be served electronically, published, and, for insolvency professionals, copies sent to their professional agency, while directions may require discharge of obligations and temporary continuation of functions to facilitate stakeholder transition.
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.
Disciplinary disposal of show cause notices: reasoned orders imposing sanctions, publication, and measures to ensure continuity and compliance.
The Disciplinary Committee must provide a hearing and issue a reasoned order disposing of a show-cause notice, with an expectation of timely disposal. Permissible outcomes include closure, warning, suspension or cancellation of authorisation for assignment of an insolvency professional, actions under designated statutory provisions, referral to the Board, or other directions. Orders normally become effective after thirty days unless reasons are stated otherwise; they must be served electronically, published, and, for insolvency professionals, copies sent to their professional agency, while directions may require discharge of obligations and temporary continuation of functions to facilitate stakeholder transition.
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