CS Professional · Corporate Restructuring, Valuation and Insolvency · Insolvency
Rohan Desai, an insolvency professional, is a member of an insolvency professional agency. The agency asks to examine the records he maintains for a resolution process he handled. Rohan refuses, saying records belong only to the Adjudicating Authority. Under the IBC code of conduct, what is the position?
Rohan must allow the agency to inspect his records. The IBC code of conduct in Section 208(2)(c) obliges every insolvency professional to permit inspection by the insolvency professional agency of which he is a member. The duty is not made conditional on the Board, the debtor's consent or completion of the process.
- ARohan is right because only the Board may inspect his records
- BRohan must allow the agency to inspect his recordsCorrect
- CRohan may refuse if the process has been completed
- DRohan must allow inspection only if the corporate debtor consents
Explanation
Section 208(2)(c) requires every insolvency professional to allow the insolvency professional agency of which he is a member to inspect his records. There is no exception for completed processes or for consent of the debtor.
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