Eligibility for registration.

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.... (a) its sole object is to carry on the functions of an insolvency professional agency under the Code; (b) it has bye-laws and governance structure in accordance with the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016; (c) it has a minimum net worth of ten crore rupees; (d) it has a paid-up share capital of fi....

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....traint orders, (iii) competence including financial solvency and net worth. (2) No person shall at any time, directly or indirectly, either individually or together with persons acting in concert, acquire or hold more than five per cent. of the paid-up equity share capital in an insolvency professional agency: Provided that- (i) a stock exchange; (ii) a depository; (iii) a banking company; ....

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....lvency professional agency unless it is a company registered under section 8 of the Companies Act, 2013, and - (a) its sole object is to carry on the functions of an insolvency professional agency under the Code; (b) it has bye-laws and governance structure in accordance with the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies), 20....