CS Professional · Insolvency and Bankruptcy - Law and Practice · Professional and Ethical Practices for Insolvency Practitioners
A complaint is filed against Meera Iyer, an insolvency professional, alleging breach of the Code and regulations. Which function of the Board directly covers specifying a grievance redressal mechanism and passing orders on such complaints?
The Board's function of specifying a mechanism for redressal of grievances against insolvency professionals and passing orders on complaints filed against them for compliance with the Code and regulations covers this. Fee levy, curriculum and websites are unrelated to complaint handling.
- ALevying fee for registration and renewal
- BSpecifying a mechanism for redressal of grievances against insolvency professionals and passing orders on complaints filed against themCorrect
- CLaying down the minimum curriculum for the insolvency professional examination
- DMaintaining websites and electronic repositories of information
Explanation
Section 196(1)(q) empowers the Board to specify the grievance mechanism and pass orders on complaints against insolvency professionals, agencies and information utilities for compliance with the Code and regulations. The other functions concern fees, curriculum and information, not complaints.
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