TaxTMI 
TaxTMI 
Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2019
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....on 13, in sub-regulation (2), after clause (ca), the following clause shall be inserted, namely:- "(cb) submit to the Board, by 15th day of October every year, a compliance certificate in Form H, for the preceding financial year: Provided that an insolvency professional entity recognised as on 31st March, 2019 shall submit to the Board, by 31st December 2019, a compliance certificate in Form H for the financial year 2018-19.". 3. 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 Professionals) Regulations, 2016] To The Executive Director (IP Division) Insolvency and Bankruptcy Board of India Subject: Application for registration as an insolvency professional. Sir / Madam, I, having been enrolled as a professional member with the [name of the insolvency professional agency] on [date of enrolment] with [professional membership number], hereby apply for registration as an insolvency professional under section 207 of the Insolvency and Bankruptcy Code, 2016 read with regulation 6 of the Insolvency and Bankruptc....
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....E (i) Are you presently in practice / employment? (Practice / Employment) (ii) Total period in practice (years and completed months): yy / mm (iii) Total period in employment (years and completed months): yy / mm (iv) Details of experience (from the date of enrolment as an Advocate / Chartered Accountant / Company Secretary / Cost Accountant /after Bachelors' Degree) Sl. No. From (dd-mm-yyyy) To (dd-mm-yyyy) Employment Practice Area of work Name and Address of Employer Designation Advocate /CA /CS/ CMA Name of Firm and Firm Registration Number, if applicable (1) (2) (3) (4) (5) (6) (7) (8) D. ADDITIONAL INFORMATION 1. Have you ever been convicted of an offence? (Yes / No) If yes, please give complete details along with current status. 2. Is any criminal proceeding pending against you? (Yes / No) If yes, please give complete details along with current status. 3. Have you ever been adjudged as a bankrupt? (Yes / No.) If yes, please give complete details along with current status. 4. Is there any disciplinary proceeding pending against you or has been taken against you at any time in the preceding three yea....
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....edings/actions and any other additional information relevant for the application, as may be applicable (including brief facts, copy of relevant orders and present status thereof) as separate enclosures. VERIFICATION BY THE INSOLVENCY PROFESSIONAL AGENCY We have verified as under: SI. No. Verification Finding 1 Whether any disciplinary proceeding is pending, or any disciplinary action has been taken at any time in the preceding three years against the professional member by the ICAI, ICSI, ICAI(Cost), Bar Council or RVO of which he is a Member? Yes / No If Yes, give details and supporting document 2 Whether any criminal proceeding has been initiated by ICAI, ICAI (Cost), ICSI, Bar Council, or RVO against the professional member and is pending for disposal? Yes / No If Yes, give details and supporting document. 3 Whether any other criminal proceeding is pending against the professional member? Yes/ No If Yes, give details and supporting document 4 Whether the professional member had an unblemished service records with the last employer if he was in employment? Yes / No If Yes, give details and supporting document 5 Whether the name of th....
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....3. Nature of constitution: Company /Limited Liability Partnership/ Registered Partnership (strike off whichever is not applicable) 4. Corporate Identification Number (CIN)/ LLP Identification Number (LLPIN)/ Certificate of Registration: 5. PAN: 6. GSTIN (if available): 7. Name, designation and contact details of the person authorised to make this application and correspond with the Board on behalf of applicant: i. Name: ii. Designation: iii. Address for correspondence: iv. Mobile No. / Landline No: v. E-mail address: B. DETAILS OF THE DIRECTORS / PARTNERS OF THE APPLICANT AS ON DATE OF APPLICATION Sl. No. Name of the director/ partner Address of the director/ partner DIN/DPIN (if available) PAN Registration No. as an insolvency professional Professional membership No. (if applicable) % share in shares / capital contributed Whether Whole Time Director (Yes / No) (1) (2) (3) (4) (5) (6) (7) (8) (9) C. ELIGIBILITY [in terms of Regulation 12 (1) of IP Regulations] 1. Sole objective of the applicant as per its constitutional document [Description of the sole objective]: 2. Net worth of the a....
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....authorising the person to make this application and make correspondence with the Board 2. Copy of CIN/LLPIN/Certificate of Registration of the applicant 3. Copy of PAN of the applicant 4. Copy of GST Registration Certificate of the applicant 5. Copy of Memorandum of Association/LLP Agreement/Registered Partnership Deed of the applicant 6. Copy of certificate of net worth issued by the Chartered Accountant, if any 7. Copy of Financial Statements of the applicant (including Provisional Financial Statements, as on same date on which net worth of applicant has been submitted) 8. Copy of Certificate of Registration issued by the Board to IPs who are directors or partners, as the case may be, of applicant 9. Evidence of deposit / payment of fee, along with GST, as required under regulation 12(2) of IP Regulations.". 5. In the principal regulations, in the Second Schedule, for Form F, the following form shall be substituted, namely:- "FORM F [Under regulation 13 (2) (b) and 13 (2) (c) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016] To The Executive Director (IPE Division) Insolvency and Bankruptcy Board of India Sub....
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....of partner or director, as the case may be, in IPE; (ii) None of the directors or partners, as the case may be, of the IPE is a partner or director of another IPE; and 2. I, on behalf of [name of the insolvency professional entity], hereby declare that all information contained in this form are complete and correct to the best of my knowledge and belief. Yours faithfully, (Authorised Signatory) (Name) (Designation) (Name of the IPE) (Recognition Number of the IPE) Place: Date: ATTACHMENTS 1. Affirmation of the director / partner (In Annexure I / II) ceasing or joining as director / partner of the IPE 2. Evidence of deposit / payment of fee, along with GST, as required under the regulation 13(2)(b), 13(2)(c) and 15, as the case may be. (Please note that a fee of rupees two thousand, plus GST as applicable, is payable in respect of cessation / joining of each director / partner). Annexure 1 To Form F [Under regulation 13 (2) (b) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016] To The Executive Director (IPE Division) Insolvency and Bankruptcy Board of India Subject: Declaration on cessation of a Direct....