Clarification regarding submission of particulars and declaration by the insolvency professionals in the application filed by creditor(s) in Part IV of Form C of the IRP PGCD Rules.
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Requirement for proposed resolution professionals to submit Part IV particulars and declaration enables AA to verify disciplinary status before appointment. Where a creditor files an application recommending an insolvency professional, the proposed professional must provide the particulars and declaration in Part IV of Form C to the creditor for the Adjudicating Authority's consideration; when applications are filed through a resolution professional those particulars and declaration are furnished by that professional and the Adjudicating Authority verifies there is no disciplinary proceeding pending against the proposed professional from the IBBI database before appointment.
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.
Requirement for proposed resolution professionals to submit Part IV particulars and declaration enables AA to verify disciplinary status before appointment.
Where a creditor files an application recommending an insolvency professional, the proposed professional must provide the particulars and declaration in Part IV of Form C to the creditor for the Adjudicating Authority's consideration; when applications are filed through a resolution professional those particulars and declaration are furnished by that professional and the Adjudicating Authority verifies there is no disciplinary proceeding pending against the proposed professional from the IBBI database before appointment.
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