https://www.taxtmi.com/caselaws?id=403216 Regulation 7A of the Insolvency Professional Regulations bars acceptance or undertaking of a liquidation assignment after 31 December 2019 without a valid authorisation for assignment, and the authorisation regime operates with the eligibility conditions in the model bye-laws, including the age restriction for obtaining such authorisation. On the facts, the insolvency professional had given written consent for appointment as liquidator before the cut-off date and the consent had already been filed before the requirement became operative; the authority also accepted that a person above seventy years was ineligible to apply for authorisation. No contravention was made out and no direction was warranted. en-us Thu, 15 Oct 2020 00:00:00 +0530 Thu, 04 Feb 2021 15:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403216 Regulation 7A of the Insolvency Professional Regulations bars acceptance or undertaking of a liquidation assignment after 31 December 2019 without a valid authorisation for assignment, and the authorisation regime operates with the eligibility conditions in the model bye-laws, including the age restriction for obtaining such authorisation. On the facts, the insolvency professional had given written consent for appointment as liquidator before the cut-off date and the consent had already been filed before the requirement became operative; the authority also accepted that a person above seventy years was ineligible to apply for authorisation. No contravention was made out and no direction was warranted. Case-Laws Insolvency and Bankruptcy Thu, 15 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403216