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CS Professional · Corporate Restructuring, Valuation and Insolvency · Insolvency

After a hearing before the Adjudicating Authority in a process handled by insolvency professional Sana Qureshi, she keeps the proceeding records with herself. Her agency is the Insolvency Professionals Agency she joined. To whom must she submit a copy of the records of every proceeding before the Adjudicating Authority, as per the code of conduct?

She must submit a copy to both the Board and the insolvency professional agency of which she is a member. Section 208(2)(d) of the IBC makes this part of the code of conduct for every insolvency professional, covering the records of every proceeding before the Adjudicating Authority.

  1. AThe Board only
  2. BThe Central Government and the Board
  3. CThe Board as well as the insolvency professional agency of which she is a memberCorrect
  4. DThe agency only, since it monitors members

Explanation

Section 208(2)(d) requires a copy of the records of every proceeding before the Adjudicating Authority to go both to the Board and to the insolvency professional agency of which she is a member. Sending it to only one of them is incomplete.

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