CS Professional · Corporate Restructuring, Valuation and Insolvency · Insolvency
The IBBI constitutes a disciplinary committee to examine an investigating authority's report against an insolvency professional. Who may be members of this committee?
The disciplinary committee consists of whole-time members of the Board only. The Code expressly restricts membership this way, so part-time Board members, insolvency professional agency representatives or creditors' committee nominees cannot sit on it when it considers investigating authority reports.
- AWhole-time members of the Board onlyCorrect
- BAny members of the Board, including part-time members
- CRepresentatives of insolvency professional agencies
- DMembers of the Committee of Creditors nominated by the Board
Explanation
The proviso to section 220(1) states that the disciplinary committee shall consist of whole-time members of the Board only. Part-time members, agency representatives and creditors' representatives are not eligible.
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