SC: Public Premises Act Prevails over State Rent Laws For Evicting Unauthorised Occupants  ||  SC: Doctors Were Unwavering Heroes in COVID-19, and Their Sacrifice Remains Indelible  ||  SC Sets Up Secondary Medical Board to Assess Passive Euthanasia Plea of Man in Vegetative State  ||  NCLAT: Amounts Listed As ‘Other Advances’ in Company’s Balance Sheet aren’t Financial Debt under IBC  ||  NCLT Ahmedabad: Objections to Coc Cannot Bar RP From Challenging Preferential Transactions  ||  J&K&L HC: Courts Should Exercise Caution When Granting Interim Relief in Public Infrastructure Cases  ||  Bombay HC: SARFAESI Sale Invalid if Sale Certificate is Not Issued Prior to IBC Moratorium  ||  Supreme Court: Police May Freeze Bank Accounts under S.102 CrPC in Prevention of Corruption Cases  ||  SC: Arbitrator’s Mandate Ends on Time Expiry; Substituted Arbitrator Must Continue After Extension  ||  SC: Woman May Move Her Department’s ICC For Harassment by Employee of Another Workplace    

Annual Compliance Certificate for Insolvency Professional Agencies- (Insolvency and Bankruptcy Board of India) (02 Nov 2022)

MANU/NMIC/0478/2022

Insolvency

1. In terms of Regulation 7 of the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016, an Insolvency Professional Agencies (IPA) shall designate or appoint a compliance officer who shall be responsible for ensuring compliances with the provisions of the Code and regulations, circulars, guidelines, and directions issued thereunder.

2. The compliance officer is mandated to submit a compliance certificate to the Board annually, verifying that the IPA has complied with the provisions of the Code and regulations, circulars, guidelines, and directions issued thereunder.

3. In this regard, the format of annual compliance certificate specifying the list of the compliances was issued by the Board vide Circular No: IPA/009/2018 dated 19th April, 2018.

4. Now in consequence of amendments in regulations and in suppression of the above Circular, the revised format of Annual Compliance Certificate for IPAs is being issued by the Board as per Annexure. All the registered IPAs have to submit the annual compliance certificate to the Board in the said format within 45 days of the end of the financial year.

5. This circular is issued in exercise of the powers conferred under clauses (aa), (g) and (t) of sub-section (1) of the Section 196 of the Insolvency and Bankruptcy Code, 2016 read with Regulation 7 of the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016.

Tags : ANNUAL COMPLIANCE   CERTIFICATE   AGENCIES  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved