Delhi HC Rejects Plea Against BCCI Team Named 'Team India', Terms it a Sheer Waste of Time  ||  Bombay HC: No Absolute Right for Citizens to Access Public Offices  ||  Delhi HC: Suit Withdrawal After Compromise Doesn’t Result in Executable Decree  ||  Delhi HC: ITSC Abolition Doesn’t Void Settlement Pleas Filed Between Feb 1–Mar 31, 2021  ||  Rajasthan HC: State Must Set Up Trauma Centre, Art Institute; Temple Board Can Only Assist  ||  Kerala HC: LIC Cancer Cover Starts From First Diagnosis After Waiting Period, Not Expert Opinion  ||  Kerala HC: Spouse’s Ill Treatment of Children is Cruelty under Section 10(1) Divorce Act  ||  Supreme Court Acquits Chennai Man Sentenced to Death in Child Rape-Murder Case  ||  SC: Only Disclosure Leading to Weapon Recovery Admissible under Section 27 Evidence Act  ||  Supreme Court Orders Strict Enforcement on Helmets, Lane Discipline & Headlight Use    

IBBI amends IBBI (Grievance and Complaint Handling Procedure) Regulations, 2017 and IBBI (Inspection and Investigation) Regulations, 2017- (Press Information Bureau) (15 Jun 2022)

MANU/PIBU/2556/2022

Insolvency

With a view to put in place, a streamlined and swift complaint handling procedure, the Insolvency and Bankruptcy Board of India notified the Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) (Amendment) Regulations, 2022 and the Insolvency and Bankruptcy Board of India (Inspection and Investigation) (Amendment) Regulations, 2022 to amend the Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations, 2017 and the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017.

The Insolvency and Bankruptcy Code, 2016 (Code) read with Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations, 2017 provide mechanism for redressal of complaints and grievances filed against insolvency professionals, insolvency professional agencies and information utilities. Further the Code read with Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017 provide mechanism for carrying out inspections and investigations on insolvency professional agencies, insolvency professionals and information utilities and passing orders by Disciplinary Committee.

The mechanism of complaint/ grievance redressal and subsequent enforcement action has been amended to have expeditious redressal and also to avoid placing undue burden on the service providers. To curtail such delays and to ensure expeditious and result oriented enforcement mechanism, the Amendment Regulations provides for following:

• Revisions in various timelines related to enforcement process provided in the (Grievance and Complaint Handling Procedure) Regulations, 2017 and (Inspection and Investigation) Regulations, 2017 for addressing the issue of delay in present mechanism.

• Effective participation of IPAs in regulating the IPs through examination of grievances received against IPs.

• Intimation to Committee of Creditor (CoC)/ Adjudicating Authority (AA) about the outcome of Disciplinary Committee (DC) order.

Tags : COMPLAINT HANDLING   PROCEDURE   AMENDMENT  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved