https://www.taxtmi.com/caselaws?id=404381 The Disciplinary Committee found an Insolvency Professional guilty of Professional Misconduct for accepting a Liquidator assignment without a valid Authorisation for Assignment (AFA). Despite the IP's argument that AFA provisions did not apply, the Committee determined that the IP's failure to obtain AFA constituted a violation of regulations. Emphasizing regulatory compliance, the Committee highlighted the importance of adhering to the Code of Conduct specified in the Insolvency Professional Regulations. Consequently, the Committee disposed of the Show Cause Notice without specific directions, imposing penalties for the misconduct and forwarding the order for information to relevant authorities. en-us Thu, 17 Dec 2020 00:00:00 +0530 Tue, 23 Feb 2021 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404381 The Disciplinary Committee found an Insolvency Professional guilty of Professional Misconduct for accepting a Liquidator assignment without a valid Authorisation for Assignment (AFA). Despite the IP's argument that AFA provisions did not apply, the Committee determined that the IP's failure to obtain AFA constituted a violation of regulations. Emphasizing regulatory compliance, the Committee highlighted the importance of adhering to the Code of Conduct specified in the Insolvency Professional Regulations. Consequently, the Committee disposed of the Show Cause Notice without specific directions, imposing penalties for the misconduct and forwarding the order for information to relevant authorities. Case-Laws Insolvency and Bankruptcy Thu, 17 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404381