https://www.taxtmi.com/caselaws?id=404379 The Disciplinary Committee (DC) of the Insolvency and Bankruptcy Board of India (IBBI) found an Insolvency Professional (IP) in violation of regulations for accepting an assignment as a Liquidator without a valid Authorization for Assignment (AFA) from his Insolvency Professional Agency (IPA) after the specified date. Despite the IP's argument of a technical error in the AFA process, the DC deemed his negligence in meeting the basic requirement for the assignment. As the IPA had already taken disciplinary action against the IP, the DC disposed of the Show Cause Notice without further direction, emphasizing the importance of adhering to regulations to uphold the credibility of insolvency processes. en-us Fri, 04 Dec 2020 00:00:00 +0530 Tue, 23 Feb 2021 12:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404379 The Disciplinary Committee (DC) of the Insolvency and Bankruptcy Board of India (IBBI) found an Insolvency Professional (IP) in violation of regulations for accepting an assignment as a Liquidator without a valid Authorization for Assignment (AFA) from his Insolvency Professional Agency (IPA) after the specified date. Despite the IP's argument of a technical error in the AFA process, the DC deemed his negligence in meeting the basic requirement for the assignment. As the IPA had already taken disciplinary action against the IP, the DC disposed of the Show Cause Notice without further direction, emphasizing the importance of adhering to regulations to uphold the credibility of insolvency processes. Case-Laws Insolvency and Bankruptcy Fri, 04 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404379