Regulation 4 - Eligibility of resolution professional
Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 Chapter II GENERAL
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Independence requirement for resolution professionals mandates impartiality, no disciplinary bars, no party representation, and written consent. Eligibility to be appointed as resolution professional requires independence from the guarantor by the professional, the insolvency professional entity and its partners/directors, absence of ongoing disciplinary proceedings or restraint orders, and that the entity or its partners/directors do not represent any party in the resolution process; independence is defined to exclude being an associate of the guarantor or a related party of the corporate debtor and the professional must provide written consent in Form A before appointment when not the filer of specified applications.
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.
Independence requirement for resolution professionals mandates impartiality, no disciplinary bars, no party representation, and written consent.
Eligibility to be appointed as resolution professional requires independence from the guarantor by the professional, the insolvency professional entity and its partners/directors, absence of ongoing disciplinary proceedings or restraint orders, and that the entity or its partners/directors do not represent any party in the resolution process; independence is defined to exclude being an associate of the guarantor or a related party of the corporate debtor and the professional must provide written consent in Form A before appointment when not the filer of specified applications.
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