Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Third Amendment) Regulations, 2021. - IBBI/2021-22/GN/REG076 - Insolvency and Bankruptcy
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Monetary penalty realisation now requires agencies to promptly collect penalties and credit them to the statutory fund. Amendment requires the Agency to promptly realise monetary penalties imposed by the Disciplinary Committee and to credit those sums to the statutory fund constituted for IBC purposes, converting penalty collection and remittance into an express compliance obligation of the Agency.
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.
Monetary penalty realisation now requires agencies to promptly collect penalties and credit them to the statutory fund.
Amendment requires the Agency to promptly realise monetary penalties imposed by the Disciplinary Committee and to credit those sums to the statutory fund constituted for IBC purposes, converting penalty collection and remittance into an express compliance obligation of the Agency.
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