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of <h1>Insolvency Board Circular Stresses Strict Confidentiality for Professionals as per Clause 21 and Section 29(2) of the Code.</h1> The circular issued by the Insolvency and Bankruptcy Board of India emphasizes the importance of maintaining confidentiality in processes under the Insolvency and Bankruptcy Code, 2016. It refers to clause 21 of the Code of Conduct, mandating insolvency professionals to keep information confidential unless disclosure is consented to by relevant parties or required by law. The circular highlights specific provisions, such as section 29(2) of the Code, which outlines conditions for sharing information with resolution applicants. Unauthorized disclosure or access to information is strictly prohibited, and insolvency professionals must ensure confidentiality at all times.
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