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        IBC

        Regulation 12 - Recognition of Insolvency Professional Entities.

        Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016
        Chapter V
        RECOGNITION OF INSOLVENCY PROFESSIONAL ENTITIES

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        Recognition of insolvency professional entities: eligibility criteria and application process for Board recognition and compliance requirements. Recognition as an insolvency professional entity requires eligible entities to have an objective of providing support services or carrying out insolvency professional activities; meet a specified net worth threshold; ensure majority ownership or capital contribution and control by insolvency professionals; have a majority of partners or directors and whole-time directors as insolvency professionals; and prohibit partners or directors from holding similar positions in other recognised entities.
                    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.

                        Recognition of insolvency professional entities: eligibility criteria and application process for Board recognition and compliance requirements.

                        Recognition as an insolvency professional entity requires eligible entities to have an objective of providing support services or carrying out insolvency professional activities; meet a specified net worth threshold; ensure majority ownership or capital contribution and control by insolvency professionals; have a majority of partners or directors and whole-time directors as insolvency professionals; and prohibit partners or directors from holding similar positions in other recognised entities.


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