NEWS

5th Foundation Day function of the Indian Institute of Insolvency Professionals of ICAI (IIIPI) was recently celebrated

ABOUT

• Wholly owned subsidiary of the Institute of Chartered Accountants of India ‘ICAI’
• Section 8 Company promoted to enroll and regulate insolvency professionals as its members in accordance with the Insolvency and Bankruptcy code 2016 and read with regulations.
• Has been awarded with the registration certificate as the First Insolvency Professional Agency of India
• Largest IPA with nearly two-third of members in India, has attracted members from a diverse stream including Chartered Accountant, Company Secretary, Cost Accountant, Advocates and Management Professionals.
• One of the key pillars in the insolvency and bankruptcy regime.
• Front-line regulator required to discharge multiple statutory responsibilities.
• Responsible for the development and regulation of insolvency profession and professionals, besides building knowledge and capacity of stakeholders
• Functions OF IIIPI

(a) Grant membership to persons who fulfil all requirements set out in its byelaws on payment of membership fee;

(b) Lay down standards of professional conduct for its members;

(c) Monitor the performance of its members;

(d) Safeguard the rights, privileges and interests of insolvency professionals who are its members;

(e) Suspend or cancel the membership of insolvency professionals who are its members on the grounds set out in its bye-laws;

(f) Redress the grievances of consumers against insolvency professionals who are its members; and

(g) Publish information about its functions, list of its members, performance of its members and such other information as may be specified by regulations