https://www.taxtmi.com/caselaws?id=405318 The Disciplinary Committee found an Insolvency Professional guilty of Professional Misconduct for accepting an assignment without a valid Authorisation for Assignment (AFA). The Committee imposed a penalty in accordance with Regulation 11 of the IBBI (Insolvency Professionals) Regulations, 2016. Despite the IP's argument that the AFA provision was not applicable for ratification as Resolution Professional, the DC held that the IP should have applied for the AFA, especially after the regulation came into force. The DC disposed of the Show Cause Notice without further direction, forwarding the order to relevant authorities for information. en-us Mon, 11 Jan 2021 00:00:00 +0530 Thu, 18 Mar 2021 09:30:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405318 The Disciplinary Committee found an Insolvency Professional guilty of Professional Misconduct for accepting an assignment without a valid Authorisation for Assignment (AFA). The Committee imposed a penalty in accordance with Regulation 11 of the IBBI (Insolvency Professionals) Regulations, 2016. Despite the IP's argument that the AFA provision was not applicable for ratification as Resolution Professional, the DC held that the IP should have applied for the AFA, especially after the regulation came into force. The DC disposed of the Show Cause Notice without further direction, forwarding the order to relevant authorities for information. Case-Laws Insolvency and Bankruptcy Mon, 11 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405318