Insolvency dnd j.8.6%nkruptcy Board of India

Transcription

1 I d1i I c5 I Inslvency dnd j86%nkruptcy rd f Indi 7 Flr, Myur hwn, nnught Plce, New Delhi111 Tel: , Fx , Web: wwwibbigvin Justice Shri M M Kumr 111 Jnury, 218 President N LT New Delhi Der Sir, Sub: Pnel f Inslvency prfessinls (IPs) fr ppintment s IRP r Liquidtr Sectin 16()() f the Inslvency nd nkruptcy de, 216 (de) requires the Adjudicting Authrity (AA) t mke reference t the Inslvency nd nkruptcy rd f Indi (rd) fr recmmendtin f n inslvency prfessinl (IP) wh my ct s n interim reslutin prfessinl (IRP) in cse n pertinl creditr hs mde n pplictin fr crprte inslvency reslutin prcess (IRP) nd hs nt prpsed n IRP The rd, within ten dys f the receipt f the reference frm the AA is required under sectin 16(4) f the de t recmmend the nme f n IP t AA ginst whm n disciplinry prceedings re pending Sectin 4(4) f the de requires the AA t replce the reslutin prfessinl, if () the reslutin pln submitted by the reslutin prfessinl under sectin ws rejected fr filure t meet the requirements mentined in subsectin (2) f sectin ; r (b) the rd recmmends the replcement f reslutin prfessinl t the AA fr resns t be recrded in writing The AA my direct the rd t prpse the nme f nther IP t be ppinted s liquidtr The rd is required under sectin 4(6) t prpse the nme f nther IP within ten dys f the directin issued by the AA When reference r directin is received frm AA fr recmmending / prpsing the nme f n IP, the rd hs n infrmtin but the vlume, nture nd cmplexity f the ERP r Liquidtin Prcess nd the resurces vilble t the dispsl f n IP Fr the purpse f ppintment f IRP/Liquidtr, the rd hs invited Expressin f Interest frm qulified Inslvency Prfessinls wh re registered with the rd s per guidelines prepred by the rd (cpy enclsed) The ench wise list f IPs wh hve expressed interest (t becme IRP/Liquidtr) is enclsed fr necessry ctin in line with pr 4 f the Guidelines, 217 The pnel is vlid fr 6 mnths frm Jnury 218 t June 218 Yurs fithfully, (Dr Nvrng Sini) Whle Time Member

2 Inslvency Prfessinls t ct s Interim Reslutin Prfessinls r Liquidtrs (Recmmendtin) Guidelines, th December, 217 Prvisins in the Inslvency nd nkruptcy de, 216 I Sectin 16()() f the Inslvency nd nkruptcy de, 216 (de) requires the Adjudicting Authrity (AA) t mke reference t the Inslvency nd nkruptcy rd f Indi (rd) fr recmmendtin f n inslvency prfessinl (IP) wh my ct s n interim reslutin prfessinl (IRP) in cse n pertinl creditr hs mde n pplictin fr crprte inslvency reslutin prcess (IRP) nd hs nt prpsed n IRP The rd, within ten dys f the receipt f the reference frm the AA, is required under sectin 16(4) f the de t recmmend the nme f n IP t AA ginst whm n disciplinry prceedings re pending 2 Sectin 4(4) f the de requires the AA t replce the reslutin prfessinl, if () the reslutin pln submitted by the reslutin prfessinl under sectin ws rejected fr filure t meet the requirements mentined in subsectin (2) f sectin ; r (b) the rd recmmends the replcement f reslutin prfessinl t the AA fr resns t be recrded in writing The AA my direct the rd t prpse the nme f nther IP t be ppinted s liquidtr The rd is required under sectin 4(6) t prpse the nme f nther IP within ten dys f the directin issued by the AA Guidelines When reference r directin is received frm AA fr recmmending / prpsing the nme f n IP, the rd hs n infrmtin but the vlume, nture nd cmplexity f the IRP r Liquidtin Prcess nd the resurces vilble t the dispsl f n IP The rd believes tht every IP is eqully suitble t ct s IRP/Liquidtr f ny IRP/Liquidtin, if therwise nt disqulified Therefre, it is necessry t hve guidelines t prepre Pnel f IPs fr the purpse f sectin 16(4) nd 4(6) frm mngst ll registered IPs Pnel f IPs 4 The rd will prepre Pnel f IN fr ppintment s IRP r Liquidtr nd shre the sid Pnel with AA The AA my pick up ny nme frm the Pnel fr ppintment f IRP r Liquidtr fr IRP r Liquidtin, s the cse my be The Pnel will hve ench wise list f IN bsed n the registered ffice f the 1P It will hve vlidity f six mnths nd new Pnel will replce the erlier Pnel every six mnths Fr exmple, the first Pnel will be vlid fr ppintments during Jnury June, 218, the next pnel will be vlid fr July December, 218 nd s n 5 An IP will be eligible t be in the Pnel f IPs if () there is n disciplinry prceeding pending ginst him; (b) he hs nt been cnvicted t ny time in the lst three yers by curt f cmpetent jurisdictin; nd (c) he expresses his interest t be included in the Pnel fr the relevnt perid

3 6 An IP will be included in the Pnel ginst the ench under whse jurisdictin his registered ffice is lcted Fr exmple, n IP lcted in Klkt will be included in Pnel ginst the Klkt ench f the AA The res cvered in respect f different enches f the AA re s under: enches t Are cvered New Delhi 1 Stte f Rjsthn 2 Unin territry f Delhi Ahmedbd 1 Stte f Gujrt 2 Stte f Mdhy Prdesh Unin territry f Ddr nd Ngr Hveli 4 Unin territry f Dmn nd u Allhbd 1 Stte f Uttr Prdesh 2 Stte f Uttrkhnd engluru 1 Stte f Krntk hndigrh 1 Stte f Himchl Prdesh 2 Stte f Jmmu nd Kshmir Stte f Punjb 4 Unin territry f hndigrh 5 Stte f Hryn henni 1 Stte f Kerl 2 Stte f Tmilndu Unin territry f Lkshdweep 4 Unin territry f Puducherry Guwhti I Stte f Arunchl Prdesh 2 Stte f Assm Stte f Mnipur 4 Stte f Mizrm 5 Stte f Meghly 6 Stte f Nglnd 7 Stte f Sikkim 8 Stte f Tripur Hyderbd 1 Stte f Andhr Prdesh 2 Stte f Telngn Klkt 1 Stte f ihr 2 Stte f Jhrkhnd Stte f Odish 4 Stte f West engl 5 Unin territry f Andmn nd Nicbr Islnds Mumbi 1 Stte f hhttisgrh 2 Stte f G Stte f Mhrshtr Expressin f Interest 7The rd shll invite expressin f interest in Frm A t ct s n IRP r Liquidtr by sending n emil t IPs t their emil ddresses registered with the rd The expressin f interest must be received by the rd in Frm A by the specified dte Fr exmple, the rd shll invite expressin f interest by 2th December, 217 frm IPs fr inclusin in the Pnel fr Jnury June, 218 The Pge 2 f 4

4 interested IPs my express their interest by 27 Ih December, 217 The rd will send the Pnel t the AA by 1St December, 217 Onging Assignments 8 The eligible IPs will be included in the Pnel in rder f the vlume f nging ssignments they hve in hnd The IP wh hs the lwest vlume f nging ssignments will get scre f 1 nd will be t the tp f the Pnel The IP wh hs the highest vlume f nging ssignments will get scre f The difference between the highest vlume nd the lwest vlume will be equted t 1 nd ther IPs will get scres between nd 1 depending n vlume f their nging ssignments Tke n exmple: IP Vlume f nging ssignments fference between the highest vlume nd the vlume f nging ssignments f the IP Frmul 2 1 1/1* /1 * /1 * /1 * / 1* /1* 1 Scre 9 An nging ssignment shll be vlued s under: Onging ssignments Vlume IRP f rprte Inslvency Reslutin Prcess 5 RP f rprte Inslvency Reslutin Prcess 1 IRP f Fst Trck Prcess RP f Fst Trck Prcess 6 Liquidtin / Vluntry Liquidtin 5 Individul Inslvency 1 nkruptcy Trustee 1 1 Where tw r mre IPs get the sme scre, they will be plced in the Pnel in rder f the dte f their registrtin with the rd The IP registered erlier will be plced bve the IP registered lter 11 The bve prcess will be undertken by tem f fficers f the rd, s my be identified by WhleTime Member 12 Review These guidelines will be reviewed by the rd frm time t time 1 Fr the purpse f these Guidelines, unless therwise mentined, () 'IRP' includes Fst Trck IRP; nd (b) 'sciplinry Prceeding' mens prceeding initited by shw cuse ntice issued under sectin 219 f the de 14 These Guidelines shll cme int effect fr ppintments s IRP r Liquidtr with effect frm 1St Jnury, 218 Pge f 4

5 r 15 These Guidelines replce the Inslvency Prfessinls t ct s Interim Reslutin Prfessinls (Recmmendtin) Guidelines, 217 Declrtin Frm A EXPRESSION OF INTEREST TO AT AS AN IRP/LIQULDATOR OF A IRP1LIQUIDATION 1 Nme f Inslvency Prfessinl 2 Registrtin Number Address nd cntct detils, s registered with the rd: Emil b Mbile c Address 4 Number f nging ssignments n hnd: As_ IRP _f IRP b AsRPfIRP c As IRP f Fst Trck das_rp_f Fst Trck e Liquidtin/Vluntry Liquidtin 1 Individul Inslvency g nkruptcy Trustee 5 Number f ssignments cmpleted: As IRP firp b AsRPfIRP c As IRP f Fst Trck dasrp_f FstTrck eliquidtin/vluntry Liquidtin f Individul Inslvency g nkruptcy Trustee 6 Whether IP hs been cnvicted t ny time in the lst three yers by curt f cmpetent jurisdictin? (Give detils) 7 Whether ny disciplinry prceeding is pending ginst the IP? (Give detils) 1 I hereby cnfirm nd declre tht the infrmtin given herein bve is true nd crrect t the best f my knwledge nd belief I hereby express my interest t ct s IRP/Liquidtr, if ppinted by the Adjudicting Authrity 2 In cse there is ny chnge in the sttus f the psitin indicted bve, the sme shll be cmmunicted t the rd frthwith Signture f Inslvency Prfessinl Plce: Dte: Pge 4 f 4

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