The Board shall have regard to the following principles while registering the insolvency professional agencies under this Code, namely:-
(a) to promote the professional development of and regulation of insolvency professionals;
(b) to promote the services of competent insolvency professionals to cater to the needs of debtors, creditors and such other persons as may be specified;
(c) to promote good professional and ethical conduct amongst insolvency professionals;
(d) to protect the interests of debtors, creditors and such other persons as may be specified;
(e) to promote the growth of insolvency professional agencies for the effective resolution of insolvency and bankruptcy processes under this Code.
Insolvency and Bankruptcy Code 2016
Section 191 Powers of Chairperson
Section 193 Member not to participate in meetings in certain cases
Section 194 Vacancies, etc., not to invalidate proceedings of Board, Officers and employees of Board
Section 195 Power to designate financial sector regulator
Section 196 Powers and functions of Board
Section 197 Constitution of advisory committee, executive committee or other committee
Section 198 Condonation of delay
Section 200 Principles governing registration of insolvency professional agency
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