IWAI hands over Kalughat Intermodal Terminal to PPP Operator (See 'Corp Brief') Chouhan addresses conference of 20,000 farmers in Maharashtra (See 'Corp Brief') India, Bhutan unite in Prayer: Buddha Relics for Global Healing at Thimpu Festival (See 'Corp Brief') NPG evaluates projects from Ministries of Road, Highways & Railways (See 'Corp Brief') PitchX @ ESTIC 2025 Ignites India's DeepTech Future (See 'Corp Brief') IPR - Unfair advantage of reputation and goodwill amassed by plaintiff's marks, calls for passing off against defendant: HC (See 'Legal Desk') DGT, Autodesk join hands to enhance Skills for India's Vocational Workforce (See 'Corp Brief') FERA - If exporter chose to realise export proceeds in the Indian Currency, then he had to ensure that export is made within bilateral framework of trade: SAFEMA (See 'Legal Desk') Textiles Mission supports development of Indigenous Thermal Testing Instruments (See 'Corp Brief') Benami - Even if there are cash infusions into bank accounts of alleged benamidar, no provisional attachment can be made in absence of evidence to show that such infusions are made by beneficial owner: SAFEMA (See 'Legal Desk') Ministry of Tourism participates in World Travel Market (See 'Corp Brief') DoT leads thematic session on India's telecom innovation (See 'Corp Brief') IPR - Refusal of registration is contingent upon existence of 'likelihood of confusion': HC (See 'Legal Desk') Startup supported by DST demonstrates 500 km Quantum-Safe Network (See 'Corp Brief') Competition Law - Dominance alone does not constitute abuse u/s 4 and competition law will intervene in digital platforms only where market-wide harm, exclusionary conduct, or unfair leveraging is evident: CCI (See 'Legal Desk') MOIL achieves best-ever October Production since Inception (See 'Corp Brief') Competition Law - Back interest charges stemmed from internal bank error constituted contractual dispute and not competition law concern: CCI (See 'Legal Desk') MoS tells NRI scientists - 'You are not outsiders' (See 'Corp Brief') No Blanket cancellations of REIA-Awarded Projects: Govt (See 'Corp Brief') India, Israel ink MoU for co-development & co-production of advanced defence tech (See 'Corp Brief') SARFAESI - CJM's role under Section 14 of the SARFAESI Act is limited to ministerial functions and does not involve adjudication: HC (See 'Legal Desk') EPFO, NITI Aayog organize Seminar on Social Security in Electronic Industry (See 'Corp Brief') MeitY generates Rs 41 lakh Scrap Revenue (See 'Corp Brief') IPR - Use of essential element in competing marks creates a likelihood of confusion, and continued registration of impugned mark is not permitted: HC (See 'Legal Desk') India strengthens global partnerships with Mauritius and UNESCAP in Doha (See 'Corp Brief') DRDO leads thematic session on 'Electronics & Semiconductor Manufacturing' (See 'Corp Brief') PMLA - As per settled precedent, property of equivalent value to proceeds of crime can be attached, even if Appellant is not accused in scheduled offence: SAFEMA Appellate Tribunal (See 'Legal Desk') Scindia hails growth of Indo-French ties at Indo-French North-East Investment Forum (See 'Corp Brief') Misc - Court under Order IX Rule 26 has power to appoint Local Commissioner to ascertain market value of any property, or amount of mesne profits or damages: HC (See 'Legal Desk') Scindia confers Bharat Ratna Hazarika National Awards (See 'Corp Brief') Controller General of Accounts inaugurates Delhi circle Pension Campaign (See 'Corp Brief') Competition Law - Mere dissatisfaction with tender terms or with rejection of bid cannot lead to presumption of imposition of unfair or discriminatory conditions and abuse of dominance: CCI (See 'Legal Desk') Coal India Celebrates 50 Glorious Years of Nation Building (See 'Corp Brief') Scindia lays bricks for Integrated Sohra Tourism Circuit (See 'Corp Brief') Naidu inaugurates creche facility at Udaan Bhawan (See 'Corp Brief') IPR - Mere expiry of trademark registration does not, by itself, justify removal from Register, and such removal must be preceded by strict compliance with mandatory requirement of issuing a Form O-3 notice: HC (See 'Legal Desk') GeM organises Session on 'Compliance with Law in Public Procurement' (See 'Corp Brief') MoSPI signs MoU with IICA to develop SDG Alignment Framework (See 'Corp Brief') India's emphasis on overflight in Indo-Pacific is not against any country: RM (See 'Corp Brief') FEMA - Inward remittances labelled 'grants' may be treated as capital account transactions if there are contingent liabilities or obligations that convert them into capital in substance: SAFEMA (See 'Legal Desk') Government intervention and Corporate governance (See CORP EINSICHT)

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IBBI amends Complaint Handling Regulations & Investigation Regulations, 2017

Published: Jun 16, 2022

By TIOLCorplaws News Service

NEW DELHI, JUNE 16, 2022: 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.

The Amendment Regulations are effective from 14th June, 2022. These are available at www.ibbi.gov.in.

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