In exercise of the powers conferred by sections 196, 206, 207 and 208 read with section 240 of the Insolvency and Bankruptcy Code

EXTRAORDINARY PART III—Section 4 PUBLISHED BY AUTHORITY No. 643] NEW DELHI , MON DAY , SEPTEMBER 18, 2023/ BHADRA 27, 1945 CG-DL-E-19092023-248823 (1) (2) (3) (4) (5) (6) (7) (1) (2) (3) (4) (5) (6) (1) (2) (3) (4) (5) (6) (7) (1) (2) (3) (4) (5) (6) (7) (8) ” INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 18 th September 2023 Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amend ment) Regulations, 2023 No. IBBI/2023 -24/GN/REG104 .—In exercise of the powers conferred by sections 196, 206, 207 and 208 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India hereby ma kes the following regulations further to amend the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016, namely: - 1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Professional s) (Secon d Amendment) Regulations, 2023. (2) They shall come into force on the date of publi cation in the Official Gazette. 2. In the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 (hereinafter referred to as ‘the pri ncipal regulations’), (1) in regulation 5, in clause (b), after the words “pre -registration educational course”, the words “within twelve months from the date of payment of non -refundable application fee under regulation 6 ”, shall be inserted. (2) in regulation 6 , (i) for sub -regulation (1), the following sub -regulation shall be substituted, namely: - “(1) An individual enrolled with an insolvency professional agency as a professional member may make an application to the Board through the insolvency professional agency of which he is a member, in Part – II of Form A of the Second Schedule to these Regulations, along with a non - refundable application fee of twenty thousand rupees to the Board.” (ii) for sub -regulation (1A), the following sub -regulation shall be sub stituted, namely: - “(1A) An insolvency professional entity eligible for registration as an insolvency professional under sub-regulation (2) of regulation 4 may make an application to the Board through the insolvency professional agency of which it is a me mber, in Part – II of Form AA of Second Schedule to these Regulations, along with a non -refundable application fee of two lakh rupees to the Board.” (iii) in sub -regulation (2), for the word “Board,” the words “insolvency professiona l agency” shall be substituted. (iv) after sub -regulation (2), the following sub -regulation shall be inserted, namely: - “(2A) The insolvency professional agency shall verify and forward the application to the Board within thirty days from the date of paym ent of fee under sub -regulations (1) or (1A), as the case may be, excluding the time given by the insolvency professional agency to the professional member for submitting additional documents, information, or clarification, as the case may be.” (3) in regulati on 7, in sub -regulation (1) for the words “sixty days” the words “thirty days” shall be substituted. (4) in regulation 8, in sub -regulation (2) for the words “forty five days” the words “thirty days” shall be substituted. (5) in regulation 10, (a) in sub -regulation (1), i. in clause (c), the word “or” shall be omitted. ii. after clause (d), the following clauses shall be inserted, namely: - “(e) accepts the application for surrender of membership and strikes the name of the professional member from its registers; (f) expels the professional member; or (g) receives intimation of demise of an individual or winding up or dissolution of a company, limited liability partnership or registered partnership firm and strikes the name of the professional member from its registers.” (b) in sub-regulation (2), after the words, bracket and figure “sub -regulation (1)”, the words “and for cases referred to in clauses (e), (f) and (g) thereof, it may, if deems expedient to do so, proceed in accordance with regulation 10B”, shall be inserted. (6) After regulation 10, the following regulations shall be inserted, namely: - “10A. Surrender of certificate of registration. (1) An insolvency professional may surrender its certificate of registration by making a request to the Board, in writing along with the c ertificate of registration in original. (2) If the Board is satisfied, it may accept the request for surrender of certificate of registration within thirty days of its receipt and upon acceptance, the registration of such insolvency professional shall stand c ancelled. (3) On and from the date of cancellation of certificate of registration, the concerned person shall not represent itself to be a holder of the certificate for carrying out the activity for which such certificate had been granted. 10B. Special proced ure for actio n on surrender, expulsion, etc. (1) While disposing of the matter under this regulation, the Board shall not be bound by the procedure specified in regulation 11. (2) On receipt of information under clause (e) and (f) of sub -regulation (1) of regulati on 10, the Board may issue a notice, if required, to such professional member, calling upon it to explain as to why the certificate of registration, granted under the regulations, should not be cancelled. (3) The professional member may make written submission (s), if any, within a period not exceeding twenty -one days from the date of service of notice. (4) On being satisfied with the submission(s) made under sub -regulation (3), the Board may decide to cancel the registration or issue directions to complete the ongo ing assignments, make pending compliances including payment of fee, etc. (5) The Board shall communicate its decision under sub -regulation (4) within thirty days from date of receipt of written submissions under sub -regulation (3). (6) On receipt of information u nder clause (g) of sub -regulation (1) of regulation 10, the registration of such insolvency professional with the Board shall be deemed to have been cancelled from the date of demise or winding up or dissolution, as the case may be. (7) On and from the date of cancellation of the certificate of registration, under this regulation, the legal heirs or assignee of the insolvency professional shall take steps for delivery of any record(s) or document(s) or assets that may be in its custody or control, within the time period and in the manner, as may be required under the relevant regulations or as may be directed by the Board.” 3. In the principal regulations, in Second Schedule, for Form A, the following form shall be substituted, namely: - “FORM A UNIFIED ENRO LMENT AND REGISTRATION APPLICATION FORM [Under Regulation 6 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 and Regulation 10 of Insolvency and Bankruptcy Board of India (Model Bye - Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016 ] Part - I TO BE SUBMITTED BY THE APPLICANT To The Managing Director, <name of the insolvency professional agency> Subject: Application for enrolment as professional member and registration as an insolv ency professional Sir / Madam, I hereby apply for - (a) enrolment as a professional member with the <name of the insolvency professional agency> under regulation 10 of Insolvency and Bankruptcy Board of India (Model Bye - Laws and Governing Board of Insolvenc y Professional Agencies) Regulations, 2016; and <Please affix a recent passport size photo> (b) registration as an insolvency professional under section 207 of the Insolvency and Bankruptcy Code, 2016 read with regulation 6 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regu lations, 2016. My details are as under: A. PERSONAL DETAILS 1. Title (Mr. / Mrs. / Ms. / Other): 2. Name (as per PAN / Aadhaar): 3. Father’s Name: 4. Mother’s Name: 5. Date of Birth: 6. Place of Birth: 7. PAN: 8. AADHAAR No. (if available): 9. Passport N o. (if available): 10. GSTIN (if available): 11. DIN / DPIN (if available): 12. Address for Correspondence (Note: This shall be recorded as the registered address) : 13. Permanent Address: 14. E -mail Address (Note: This shall be recorded as the registered e -mail address) : 15. Mobile No. (Note: This shall be recorded as the registered mobile number) : 16. Residential Status: Person resident in India/ Person resident outside India (strike off whichever is not applicable) [in terms of section 3 (24) or 3 (25) of Insolvency and Bankruptcy Code, 2016] B. EDUCATIONAL, PROFESSIONAL AND INSOLV ENCY EXAMINATION QUALIFICATIONS (i) Educational Qualifications [Please provide educational qualifications from Bachelor’s degree onwards] Sl. No. Educational qualification Universi ty /College Year of Passing Marks Secured (%) Grade/ Class Remarks, if any (1) (2) (3) (4) (5) (6) (7) (ii) Professional Qualifications [in terms of regulation 5(c)(iv) of IP Regulations] Sl. No. Professional Qualification Institu te/ Professional Body Membership No. / Enrolment No. (as the case may be) Date of registration/ enrolment Remarks, if any (1) (2) (3) (4) (5) (6) (iii) Insolvency Examinations Sl. No. Name of the examination /programme Whether qualified or not? (Yes / No) Name of the Institute/ Organisation Marks (%) /Grade/Class (If applicable) Date of passing Remarks, if any (1) (2) (3) (4) (5) (6) (7) 1 Limited Insolvency Examination IBBI 2 Post Graduate Insolvency Programme 3 National Insolvency Programme (iv) Are you a registered valuer? (Yes/No) If yes, (a) IBBI Registration No._______________ (b) Name of Registered Valuer Organisation (RVO) ______________and, (c) RVO Enrolment No.________________ C. WORK EXPERIENCE (i) Are you presen tly in practice / employment? (Practice / Employment) (ii) Total period in practice (years and completed months): yy / mm (iii) Total period in employment (years and completed months): yy / mm (iv) Details of experience (from the date of enrolment as an Ad vocate / Chartered Accountant/ Company Secretary / Cost Accountant / After Bachelors’ Degree / After Master’ Degree / After Post Graduate Diploma) SI. No. From Date (dd-mm- yyyy) To Date (dd-mm- yyyy) Employment Practice Area of Work Name and Address o f Employer Designation Advocate/ CA/CS/CMA Name of Firm and Firm Registration Number, if applicable (1) (2) (3) (4) (5) (6) (7) (8) D. ADDITIONAL INFORMATION 1. Have you ever been convicted for an offence? (Yes / No) If yes, please give comp lete along with current status. 2. Is any criminal proceedings pending against you? (Yes / No) If yes, please give complete det ails along with current status. 3. Have you ever been adjudged as an insolvent/bankrupt, or applied to be declare d so? (Yes / No) If yes, please give complete det ails along with current status. 4. Is there any disciplinary proceeding pending against you or has been taken against you at any time in the preceding three years by the ICAI, ICSI, ICAI (Cost), Bar Council or RVO? (Yes /No) If yes, please give complete det ails along with current status. 5. Have you ever applied for Enrolment with any Insolvency Professional Agency? (Yes / No) If yes, please give details. Date of application Name of the IPA Status of a pplication Reason of Rejection, if applicable Date of Rejection, if applicable 6. Please provide any additional information that may be relevant for determining fit and proper person eligibility. E. ATTACHMENTS 1. Copy of proof of residence 2. Copy of PAN card, Aadhaar card and Passport 3. Copy of GST Registration Certificate 4. Copy of DIN/ DPIN allotment letter 5. Copies of documents in support of educational qualification, professional qualification, and insolvency examination. 6. Copies of docume nts demonstrating practice as – (i) a chartered accountant registered with the Institute of Chartered Accountants of India; (ii) a company secretary registered with the Institute of Company Secretaries of India; (iii) a cost accountant registered with the Institute of Cost Accountants of India; or (iv) an advocate enrolled with the Bar Council. 7. Copies of certificate of employment from the employer(s), specifying the period of such employment 8. Financial statements / Income -tax Returns for the last three years. 9. Copy of certificate of professional membership of Registered Valuer Organisation. 10. Evidence of deposit / payment of applicable fee. 11. Details of information with respect to conviction, criminal proceedings, insolvency/bankruptcy order, disc iplinary proceedings/actions, and any other additional information relevant for the application, as may be applicable (including brief facts, copy of relevant orders and present status t hereof) as separate enclosures. F. UNDERSTANDING I understand and agre e that my enrolment with the <name of insolvency professional agency> and completion of pre - registration educational course, subsequently, does not entitle me to the registration, which is subject to me complying with requirements applicable under the Inso lvency and Bankruptcy Code, 2016 read with the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016. G. AFFIRMATIONS I affirm that I am eligible to be enrolled as a professional member under the Insolvency and Bankruptcy Bo ard of India (Model Bye -Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016 read with sections 205 of the Insolv ency and Bankruptcy Code, 2016. 2. I affirm that the information furnished by me in this application is correct and complete to the b est of my knowledge and belief. 3. I undertake to comply with the requirements of the Insolvency and Bankruptcy Code, 2016, rules, regulations, guidelines and circulars issued thereunder, the bye -laws of the insolvency professional agency with which I am enrolled, the resolutions passed, and directions given by the Board and the Governing Board of such insolvency professional agency and to furnish any additional information as and when called for by the Board or Insolvency Professional Agen cy. Name and signature of the applicant Place: Date: Part - II TO BE SUBMITTED BY THE PROFESSIONAL MEMBER [For the purposes of registration as an Insolvency Professional] A. ENROLMENT WITH INSOLVENCY PROFESSIONAL AGENCY (1) Professional Membership No./ Enrolment No.: (2) Date of Enrolment: B. PRE -REGISTRATION EDUCATIONAL COURSE Have you completed the Pre -Registration Educational Course? (Yes/No) If Yes, date of completion of Pre -Registration Educational Course: dd/mm/yyyy C. FEE PAYMENT Have you paid the non-refundable application fee to the Board within twelve months before the date of completion of the Pre -Registration Educational Course? (Yes/No) If Yes, date of payment of non -refundable applicati on fee to the Board: dd/mm/yyyy D. INFORMATION UPDATE Do you wish to update the information submitted in Form A at the time of application seeking enrolment with the Insolvenc y Professional Agency? (Yes/No) E. AFFIRMATIONS I affirm that I am eligible to be registered as an insolvency professional under the Inso lvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 read with section 207 of the Insolv ency and Bankruptcy Code, 2016. 2. I affirm that the information furnished by me in this application is correct and complete to the b est of my knowledge and belief. 3. I undertake to comply with the requirements of the Insolvency and Bankruptcy Code, 2016, rules, regulations, guidelines and circulars issued thereunder, the bye -laws of the insolvency professional agency with which I am enrolle d and directions given by the Board and the Governing Board of such insolvency professional agency and to furnish any additional information as and when called for by the Board or Insolvency Professional Agency. F. ATTACHMENTS 1. Copy of certificate of mem bership with an insolvency professional agency. 2. Copy of certificate of completion of pre -registration educational course. 3. Evidence of deposit / payment of applicable fee. 4. Copy of proof towards information updated in t he Form A, wherever applicable . Name and signature of applicant Place: Date: Part - III TO BE SUBMITTED BY THE INSOLVENCY PROFESSIONAL AGENCY [For the purposes of registration as an Insolvency Professional] To, The Executive Director (IP Division) Insolvency and Bankruptcy Board of In dia Subject: Application for registration as an insolvency professional Sir / Madam, The application for registration received from [ Name of the applicant ] after obtaining the membership [Professional Membership Number ], under section 207 of the Insolven cy and Bankruptcy Code, 2016 read with regulation 6 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 [IP Regulations] is hereby submitted to the Board. We have verified as under: SI. No. Verification Finding 1 Whether the applicant has submitted all the required details under Regulations 4 and 5 of IP regulations (as applicable) in its application and completed the payment for registration as per requirement specified under Regulation 6 of IP Regulations? (Yes/ No) If No, please provide the details. 2 Whether the professional member has completed the pre -registration educational course within twelve months of making payment of application fee to the Board and obtained the completion certificate in this regard? (Yes/No) If Yes, give details and supporting document: (Date of certificate) 3 Whether the insolvency professional agency has granted the professional membership to the applicant after complying with eligibility requirement to become an insolvency professi onal? (Yes/No) If Yes, give details and supporting document: (Enrolment No) (Date of Enrolment) 4 Whether any disciplinary proceedings are pending, or any disciplinary action has been taken at any time in the preceding three years against the professional member by the ICAI, ICSI, ICMAI, Bar Council or RVO of which applicant is a member. Yes / No. If Yes, give details and supporting document. 5 Whether a regulator ICAI, ICMAI, ICSI, or Bar Council has initiated any criminal proceeding against the profes sional member and is pending for disposal? Yes / No. If Yes, give details and supporting document. 6 Whether the professional member had an unblemished service records with the last employer if he was in employment? Yes / No. If Yes, give details and supporting document. 7 In case, DIN / DPIN has been furnished by the professional member, whether the status thereof has been verified along with nature of designation held by the professional member? Yes / No. If Yes, give details and supporting document . 8 Whether the name of the professional member appears in the database of Ministry of Corporate Affairs regarding: i. Directors disqualified under section 164 of the Companies Act, 2013, or ii. Proclaimed Offenders under section 82 of the Code of Criminal Proce dure, 1973. Yes / No. If Yes, give details and supporting document. 9 Whether the professional member has been penalised by SEBI or CCI in the last three years? Yes / No. If Yes, give details and supporting document. 10 Whether the name of professional member appears in the list of defaulters of RBI / Credit Information Company? Yes / No. If Yes, give details and supporting document. 11 Whether the professional member has been convicted of any offence? Yes / No. If Yes, give details and supporting do cument. We have verified the above details submitted by < name of the applicant > who is our professional member with <professional membership no. > and confirm these to be true and correct. We recommend registration of < name of the applicant > as an insolve ncy professional with IBBI. (Name and Signature) Authorised Officer of the Insolvency Professional Agency (Seal of the Insolvency Professional Agency) Place: Date: ” 4. In principal regulations, in Second Schedule, for Form AA, the following form shall be substituted, namely: - “FORM AA UNIFIED ENROLMENT AND REGISTRATION APPLICATION FORM [Under regulation 10 of Insolvency and Bankruptcy Board of India (Model Bye - Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016 and Regulation 6 (1A) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 ] Part – I TO BE SUBMITTED BY THE APPLICANT To The Managing Director, <Name of the Insolvency Professional Agency> Subject: Application for enrolment as prof essional member and registra tion as insolvency professional Sir/Madam, I, being duly authorized for the purpose, hereby apply on behalf of [ name of the applicant entity ], recognised by the Board as an insolvency professional entity with recognition number [recognition number ], having registered address at [registered address of the applicant entity ] I hereby apply for – (i) enrolment as a professional member with the <name of the insolvency professional agency> under regulation 10 of Insolvency and Bankruptcy Board of India (Model Bye - Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016; and (ii) registration as an insolvency professional under section 207 of the Insolvency and Bankruptcy Code, 2016 read with regulation 6 (1A) of the Inso lvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016. I hereby enclose proof (certified copy of Board/ Partner’s Resolution) that I am authorized to make this application and correspond with the Board in this respect. ADDITION AL INFORMATION 1. Whether the applicant entity is a subsidiary, joint venture or associate of another company or body corporate? (Yes/ No) If yes, please give complete details of such company or body corporate. 2. Whether the applicant entity is undergoing or has undergone an insolvency resolution process? (Yes/ No) If yes, please give complete det ails along with current status. 3. Whether the applicant entity is an undischarged bankrupt? (Yes/ No) If yes, please give complete det ails along with current sta tus. 4. Whether the applicant entity is a fit and proper person in terms of regulation 4(g) of IP Regulations? (Yes/ No) If No, please give complete det ails along with current status. 5. Whether all the partners or directors, as the case may be, of the app licant entity are fit and proper person in terms of regulation 4(g) of IP Regulations? (Yes/ No) If No, please give complete det ails along with current status. 6. Please provide any additional in formation that may be relevant. AFFIRMATIONS 1. I, on behalf of [name of the applicant entity ], affirm that the applicant entity has at all times complied with regulations 1 2 and 13 of the IP Regulations. 2. I, on behalf of [ name of the applicant entity ], affirm that the applicant entity is eligible to be enrolled a s a professional member with the insolvency professional agency. 3. I, on behalf of [ name of the applicant entity ], hereby affirm that – (i) all information contained in this application is true and correct in all material respects, (ii) no material information rel evant for the purpose of this application has been suppressed, and (iii) enrolment granted in pursuance of this application may be cancelled summarily if any information submitted herein is found to be false or misleading in material respects at any stage. 4. I, hereby confirm that the applicable fee has been paid to the agency vide [ please enter the payment details along with date of making the payment ] and enclose proof thereof. 5. If granted certificate of membership, I, on behalf of [ name of the applicant en tity], undertake to comply with the requirements of the Code, the rules, regulations or circulars or guidelines issued thereunder, and such other terms and conditions as may be imposed by the Agency while granting the certificate of membership or subsequen tly. Yours faithfully, Authorized Signatory (Name) (Designation) (Insolvency Professional Registration Number ----------- ) (Name of the Insolvency Professional Entity -------- ) (Recognition Number of the Insolvency Professional Entity ----) Place: Date: ATTACHMENTS 1. Certified copy of Board / Partners’ Resolution authorising the person to make this application and correspond with the Insolvency Professional Agency in this respect. 2. Copy of Certificate of Recognition issued by the Board. 3. Evidence of d eposit / payment of applicable fee. Part - II TO BE SUBMITTED BY THE PROFESSIONAL MEMBER [For the purposes of registration as an Insolvency Professional] INFORMATION UPDATE 1. Do you wish to update the information submitted in Form AA at the time of appli cation seeking enrolment with the IPA? (Yes/No) AFFIRMATIONS 1. I, on behalf of [ name of the insolvency professional entity ], affirm that the insolvency professional entity has at all times complied with regulations 12 and 13 of the Insolvency and Bankrupt cy Board of India (Insolvency Professionals) Regulations, 2016. 2. I, on behalf of [ name of the insolvency professional entity ], affirm that the insolvency professional entity is eligible to be registered as an insolven cy professional with the Board. 3. I, on behalf of [ name of the insolvency professional entity ], hereby affirm that – (i) all information contained in this application is true and correct in all material respects, (ii) no material information relevant for the purpose of this application has been suppr essed, and (iii) registration granted in pursuance of this application may be cancelled summarily if any information submitted herein is found to be false or misleading in material respects at any stage. (iv) the insolvency professional entity may be derecognised if any information submitted herein is found to be false or misleading in material respects at any stage. 4. I, hereby confirm that the applicable fee has been paid to the Board vide [ please enter the payment details along with date of making the payment ] and enclose proof thereof. 5. If granted certificate of registration, I, on behalf of [ name of the insolvency professional entity ], undertake to comply with the requirements of the Code, the rules, regulations or circulars or guidelines issued thereunder, an d such other terms and conditions as may be imposed by the Board while granting the certificate of registration or subsequently. Yours faithfully, Authorized Signatory (Name) (Designation) (Insolvency Professional Registration Number ----------- ) (Name of the Insolvency Professional Entity -------- ) (Recognition Number of the Insolvency Professional Entity ----) Place: Date: ATTACHMENTS 1. Certified copy of Board / Partners’ Resolution authorising the person to make this application and correspond with the Board in this respect. 2. Copy of Certificate of Membership issued by the Insolvency Professional Agency. 3. Evidence of deposit / payment of applicable fee. 4. Copy of proof towards information updated in the Form AA, wherever applicable. Part - III TO BE SUBMITTED BY THE INSOLVENCY PROFESSIONAL AGENCY [For the purposes of registration as an Insolvency Professional] To, The Executive Director (IP Division) Insolvency and Bankruptcy Board of India Subject: Application for registratio n as an insolvency p rofessional Sir / Madam, The application for registration received from [ Name of the professional member ] after obtaining the membership [ Professional Membership Number ], under section 207 of the Insolvency and Bankruptcy Code, 2016 read with regulation 6 (1A) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 is hereby submitted to the Board. 2. We have verified the details furnished by the professional member < name of the entity >, who is our professional member wi th <professional membership no. >. We hereby confirm that: - (i) the entity has _______ number of partners or directors, as the case may be, as on the date of forwarding application to the Board. (ii) the entity complies with the eligibility requirements laid down under regulation 12 and 13 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016. 3. We recommend registration of < name of the professional member > as an insolven cy professional with the Board. (Name and Signature) Authorised Officer of the Insolvency Professional Agency (Seal of the Insolvency Professional Agency). Place: Date: ” RAVI MITAL, Chairperson [ADVT. -III/4/Exty./4 25/2023 -24] Note : The Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 were published vide notification No. IBBI/2016 -17/GN/REG003 dated 23rd November, 2016 in the Gazette of India, Extraordinary , Part III, Section 4, No. 424 on 23rd November, 2016 and were last amended by the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2023 published vide notification No. IBBI/2023 -24/GN/REG103, dated 20th July, 20 23 in the Gazette of India, Extraordinary, Part III, Section 4, No. 507 on 20th July 2023. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, D elhi-110054.