Consortium-Driven Innovation Model pioneered by IIT Madras enables immediate Commercialisation: MoS (See 'Corp Brief') NBA supports Conservation of Biological Resources (See 'Corp Brief') Cabinet approves Widening of National Highway-167 from Gudebellur to Mahabubnagar (See 'Corp Brief') Innovation and evidence are two pillars that will shape the next era of Unani medicine: MoS (See 'Corp Brief') A&C - Different interpretation of contract by in itself is no ground to interfere with arbitral award: SC (See 'Legal Desk') Cabinet approves upgradation of Dhamasiya-Bitada Sections of NH-56 to 4-Lane Standard (See 'Corp Brief') Govt launches 'PM RAHAT' - Cashless Treatment of Road Accident Victims (See 'Corp Brief') India achieves faster decline in under-5 Mortality Rate: Nadda (See 'Corp Brief') A&C - Non-issuance of a Sec 21 notice by one party is not fatal to raising claims before arbitral tribunal if disputes are otherwise covered by broadly worded arbitration clause: SC (See 'Legal Desk') Cabinet infuses Rs 10000 Crores for startups engaged in deep-tech, innovative manufacturing (See 'Corp Brief') Trade Marks - non-use of a mark filed on proposed-to-be-used basis is irrelevant for assessing registrability of the mark: HC (See 'Legal Desk') Minister proposes exploring solutions such as National Housing Exchange (See 'Corp Brief') IBC/RTI - appellant cannot seek disclosure of internal notings & replies under RTI Act when same issue has already been disposed of earlier: IBBI (See 'Legal Desk') In 2 yrs, India AI Mission has set up Foundation for Development of AI Ecosystem (See 'Corp Brief') A&C - Applications for extending arbitral tribunal's mandate u/s 29A(4) must be filed exclusively before principal civil court of original jurisdiction: SC (See 'Legal Desk') Govt approves wheat exports and allows additional wheat and sugar exports (See 'Corp Brief') A&C - Arbitral proceedings are set to commence on date of receipt of notice invoking arbitration clause: SC (See 'Legal Desk') Centre for Trade organises International Moot Court under WTO Chairs Program (See 'Corp Brief') A&C - Under pre-2015 amendment regime, once party consents to court order appointing arbitrator, they cannot subsequently challenge existence or validity of arbitration clause before arbitral tribunal: SC (See 'Legal Desk') The Securities Markets Code, 2025: Strengthened Enforcement, Weakened Accountability? (See 'CORP EINSICHT')

Print

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.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.