IBBI Incorporates Fresh Provisions for Insolvency Professionals’ Assignment Resignation [Read Notification]

Insolvency Professionals can now resign, subject to the committee of creditors' recommendation in corporate insolvency cases and with approval of adjudicating authority
IBBI - Insolvency Professionals - Assignment Resignation - IBBI updates - IBBI regulations - TAXSCAN

The Insolvency Bankruptcy Board of India ( IBBI ) has incorporated new provisions with regards to the resignation of the Insolvency Professionals ( IP ) from an assignment vide notification no. IBBI/2023-24/GN/REG 110 dated 31st January 2024. According to newly inserted Section 22A, Insolvency Professionals are now permitted to resign from their assignments, but this…

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