TaxTMI 
TaxTMI 
Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2018
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....nals) Regulations, 2016, namely: - 1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2018. (2) They shall come into force on 1st April, 2018. 2. In the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 (hereinafter referred to as principal regulations), in regulation 3, for sub-regulation (3), the following sub-regulation shall be substituted, namely: - "(3) The syllabus, format, qualifying marks and frequency of the Limited Insolvency Examination shall be published on the website of the Board at least three months before the examination.". 3. In the principal regulations, for regu....
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....ted, namely: - "(ba) undergo continuing professional education, as may be required by the Board; (bb) not outsource any of his duties and responsibilities under the Code, except those specifically permitted by the Board.". 5. In the principal regulations, in regulation 12, for sub-regulation (1), the following sub-regulation shall be substituted, namely: - "(1) A company, a registered partnership firm or a limited liability partnership may be recognised as an insolvency professional entity, if - (a) its sole objective is to provide support services to insolvency professionals, who are its partners or directors, as the case may be; (b) it has a net worth of not less than one crore rupees; ....
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....professional agency of which he is a professional member and the agency shall publish such disclosure on its website."; (iii) after item (25), the following item shall be inserted, namely: - "25A. An insolvency professional shall disclose the fee payable to him, the fee payable to the insolvency professional entity, and the fee payable to professionals engaged by him to the insolvency professional agency of which he is a professional member and the agency shall publish such disclosure on its website.". 7. In the principal regulations, in the Second Schedule, for FORM A, the following Form shall be substituted, namely: -- "FORM A [Under Regulation 6 of the Insolvency and Bankruptcy Board of India (Insolvency Professional....
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...., if any 3. Insolvency Qualifications 3.1. Have you passed Limited Insolvency Examination? (Yes / No) 3.2. Have you successfully completed National Insolvency Programme? (Yes / No) 3.3. Have you successfully completed the Graduate Insolvency Programme? (Yes / No) 3.4. Have you completed the pre-registration training with an insolvency professional agency? (Yes / No) C. WORK EXPERIENCE 1. Are you presently in practice / employment? (Yes/ No) 2. Number of years in practice (in years and months): 3. If in practice, address for professional correspondence: 4. Number of years in employment (in years and months): 5.....
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....egistered with the Institute of Chartered Accountants of India; i. a company secretary registered with the Institute of Company Secretaries of India; ii. a cost accountant registered with the Institute of Cost Accountants of India; or iii. an advocate enrolled with the Bar Council; 4. Copies of certificate of employment from the employer(s), specifying the period of such employment. 5. Financial statement / Income-tax Returns for the last three years. 6. Copy of certificate of professional membership with an insolvency professional agency. 7. Passport-size photo. 8. Evidence of deposit / payment of five thousand rupees / ten thousand rupees, as applicable. G. AFFIRMATIONS 1. Copies of document....
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....ICAI, ICSI, ICAI(Cost), or Bar Council, of which he is a Member. Yes / No. If Yes, give details. If required, attach additional papers Whether a regulator ICAI, ICAI (Cost), ICSI, or Bar Council has initiated any criminal proceeding against the professional member and is pending for disposal? Yes / No. If Yes, give details. If required, attach additional papers Whether the professional member had an unblemished service with the last employer if he was in employment? Yes / No. If No, give details. If required, attach additional papers Whether the name of the professional member appears in the databases of Ministry of Corporate Affairs regarding- i. Directors disqualified under section 164 of the Companies Act, 2....