TaxTMI 
TaxTMI 
Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2023
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.... 'the principal regulations'), (1) in regulation 5, in clause (b), after the words "pre-registration educational course", the words "within twelve months from the date of payment of non-refundable application fee under regulation 6", shall be inserted. (2) in regulation 6, (i) for sub-regulation (1), the following sub-regulation shall be substituted, namely: - "(1) An individual enrolled with an insolvency professional agency as a professional member may make an application to the Board through the insolvency professional agency of which he is a member, in Part - II of Form A of the Second Schedule to these Regulations, along with a nonrefundable application fee of twenty thousand rupees to the Board." (ii) for sub-regulation (1A), the following sub-regulation shall be substituted, namely: - "(1A) An insolvency professional entity eligible for registration as an insolvency professional under sub-regulation (2) of regulation 4 may make an application to the Board through the insolvency professional agency of which it is a member, in Part - II of Form AA of Second Schedule to these Regulations, along with a non-refundable applicat....
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....date of cancellation of certificate of registration, the concerned person shall not represent itself to be a holder of the certificate for carrying out the activity for which such certificate had been granted. 10B. Special procedure for action on surrender, expulsion, etc. (1) While disposing of the matter under this regulation, the Board shall not be bound by the procedure specified in regulation 11. (2) On receipt of information under clause (e) and (f) of sub-regulation (1) of regulation 10, the Board may issue a notice, if required, to such professional member, calling upon it to explain as to why the certificate of registration, granted under the regulations, should not be cancelled. (3) The professional member may make written submission(s), if any, within a period not exceeding twenty-one days from the date of service of notice. (4) On being satisfied with the submission(s) made under sub-regulation (3), the Board may decide to cancel the registration or issue directions to complete the ongoing assignments, make pending compliances including payment of fee, etc. (5) The Board shall communicate its decision under sub-regul....
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....he registered address): 13. Permanent Address: 14. E-mail Address (Note: This shall be recorded as the registered e-mail address): 15. Mobile No. (Note: This shall be recorded as the registered mobile number): 16. Residential Status: Person resident in India/ Person resident outside India (strike off whichever is not applicable) [in terms of section 3 (24) or 3 (25) of Insolvency and Bankruptcy Code, 2016] B. EDUCATIONAL, PROFESSIONAL AND INSOLVENCY EXAMINATION QUALIFICATIONS (i) Educational Qualifications [Please provide educational qualifications from Bachelor's degree onwards] Sl. No. Educational qualification University /College Year of Passing Marks Secured (%) Grade/ Class Remarks, if any (1) (2) (3) (4) (5) (6) (7) ....
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....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 for an offence? (Yes / No) If yes, please give complete along with current status. 2. Is any criminal proceedings pending against you? (Yes / No) If yes, please give complete details along with current status. 3. Have you ever been adjudged as an insolvent/bankrupt, or applied to be declared so? (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 years by the ICAI, ICSI, ICAI (Cost), Bar Council or RVO? (Yes /No) If yes, ....
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....gible to be enrolled as a professional member under the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016 read with sections 205 of the Insolvency and Bankruptcy Code, 2016. 2. I affirm that the information furnished by me in this application is correct and complete to the best of my knowledge and belief. 3. I undertake to comply with the requirements of the Insolvency and Bankruptcy Code, 2016, rules, regulations, guidelines and circulars issued thereunder, the bye-laws of the insolvency professional agency with which I am enrolled, the resolutions passed, and directions given by the Board and the Governing Board of such insolvency professional agency and to furnish any additional information as and when called for by the Board or Insolvency Professional Agency. Name and signature of the applicant Place: Date: Part - II TO BE SUBMITTED BY THE PROFESSIONAL MEMBER [For the purposes of registration as an Insolvency Professional] A. ENROLMENT WITH INSOLVENCY PROFESSIONAL AGENCY (1) Professional Membership No./ Enrolment No.: (2) Date of Enrolment: B....
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....nkruptcy Code, 2016 read with regulation 6 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 [IP Regulations] is hereby submitted to the Board. We have verified as under: SI. No. Verification Finding 1 Whether the applicant has submitted all the required details under Regulations 4 and 5 of IP regulations (as applicable) in its application and completed the payment for registration as per requirement specified under Regulation 6 of IP Regulations? (Yes/ No) If No, please provide the details. 2 Whether the professional member has completed the pre-registration educational course within twelve months of making payment of application fee to the Board and obtained the completion certificate in this regard? (Yes/No) If Yes, give details and supporting document: (Date of certificate) 3 Whether the insolvency professional agency has granted the professional membership to the applicant after complying with eligibility requirement to become an insolvency professional? (Yes/No) If Yes, give details and supporting document: (Enrolment No) ....
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....substituted, namely: - "FORM AA UNIFIED ENROLMENT AND REGISTRATION APPLICATION FORM [Under regulation 10 of Insolvency and Bankruptcy Board of India (Model Bye- Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016 and Regulation 6 (1A) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016] Part - I TO BE SUBMITTED BY THE APPLICANT To The Managing Director, <Name of the Insolvency Professional Agency> Subject: Application for enrolment as professional member and registration as insolvency professional Sir/Madam, I, being duly authorized for the purpose, hereby apply on behalf of [name of the applicant entity], recognised by the Board as an insolvency professional entity with recognition number [recognition number], having registered address at [registered address of the applicant entity] I hereby apply for - (i) enrolment as a professional member with the under regulation 10 of Insolvency and Bankruptcy Board of India (Model Bye- Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016; and (ii) registration as an insolvency....
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....e enter the payment details along with date of making the payment] and enclose proof thereof. 5. If granted certificate of membership, I, on behalf of [name of the applicant entity], undertake to comply with the requirements of the Code, the rules, regulations or circulars or guidelines issued thereunder, and such other terms and conditions as may be imposed by the Agency while granting the certificate of membership or subsequently. Yours faithfully, Authorized Signatory (Name) (Designation) (Insolvency Professional Registration Number-----------) (Name of the Insolvency Professional Entity--------) (Recognition Number of the Insolvency Professional Entity----) Place: Date: ATTACHMENTS 1. Certified copy of Board / Partners' Resolution authorising the person to make this application and correspond with the Insolvency Professional Agency in this respect. 2. Copy of Certificate of Recognition issued by the Board. 3. Evidence of deposit / payment of applicable fee. Part - II TO BE SUBMITTED BY THE PROFESSIONAL MEMBER [For the purposes of registration as an Insolvency Professional] INFORMATIO....