Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2019 - IBBI/2019-20/GN/REG049 - Insolvency and Bankruptcy
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Compliance certificate requirement for insolvency professional entities mandates annual Form H submission and detailed director disclosures. The amendment requires insolvency professional entities to submit an annual compliance certificate in Form H for the preceding financial year and substitutes Forms A, C and F in the Second Schedule to update registration and recognition applications, director/partner cessation/joining notifications, and related affirmation, verification and attachment requirements. Form A now collects detailed personal, qualification, experience and disciplinary information for individual registration; Form C requires corporate constitution, net worth, shareholding/partner contributions and eligibility affirmations for entity recognition; Form F mandates prompt reporting of director/partner changes with supporting annexures.
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Compliance certificate requirement for insolvency professional entities mandates annual Form H submission and detailed director disclosures.
The amendment requires insolvency professional entities to submit an annual compliance certificate in Form H for the preceding financial year and substitutes Forms A, C and F in the Second Schedule to update registration and recognition applications, director/partner cessation/joining notifications, and related affirmation, verification and attachment requirements. Form A now collects detailed personal, qualification, experience and disciplinary information for individual registration; Form C requires corporate constitution, net worth, shareholding/partner contributions and eligibility affirmations for entity recognition; Form F mandates prompt reporting of director/partner changes with supporting annexures.
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