CS Professional · Corporate Restructuring, Valuation and Insolvency · Insolvency
Meera Kapoor is already a member of an insolvency professional agency. Under the Code, what must she do next, and who may specify the qualifications and experience categories of persons eligible?
After joining an agency, Meera must register with the Board within the time, in the manner and on payment of the fee specified by regulations. The Board may also specify categories of professionals with relevant qualifications and experience in finance, law, management, insolvency or similar fields.
- ARegister with the Board within the time, manner and fee specified by regulations; the Board may specify categories by qualifications and experienceCorrect
- BRegister with the agency only, and the agency specifies the categories
- CRegister with the Board within one year, and the Central Government specifies the categories
- DRegister with the Adjudicating Authority, and the Board specifies the fee
Explanation
Section 207(1) requires every insolvency professional, after obtaining agency membership, to register with the Board within time, manner and fee specified by regulations. Section 207(2) lets the Board specify categories of professionals or persons with qualifications and experience in finance, law, management, insolvency or other fields.
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