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CS Professional · Corporate Restructuring, Valuation and Insolvency · Role, Functions and Duties of IP, IRP and RP

Mr. Sandeep Bhatt, an insolvency professional, has completed a hearing before the Adjudicating Authority in a resolution process. As per the Code of conduct, to whom must he submit a copy of the records of every proceeding before the Adjudicating Authority?

He must submit the copy to both the Board and the insolvency professional agency of which he is a member. Section 208(2)(d) requires records of every proceeding before the Adjudicating Authority to go to both bodies, not just one of them.

  1. AThe Board and the insolvency professional agency of which he is a memberCorrect
  2. BThe Board only
  3. CThe insolvency professional agency only
  4. DThe Adjudicating Authority and the committee of creditors

Explanation

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

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