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Home Acts & Rules Insolvency and Bankruptcy Act Insolvency and Bankruptcy Code, 2016 Chapters List Chapter VI (of Part IV) INSPECTION AND INVESTIGATION This
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Section 220 - Appointment of disciplinary committee. - Insolvency and Bankruptcy Code, 2016

Extract

..... Appointment of disciplinary committee. 220. (1) The Board shall constitute a disciplinary committee to consider the reports of the investigating Authority submitted under sub-section (6) of section 218: Provided that the members of the disciplinary committee shall consist of whole-time members of the Board only. (2) On the examination of the report of the Investigating Authority, if the disciplinary committee is satisfied that sufficient cause exists, it may impose penalty as specified in sub-se .....

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Section 220 - Appointment of disciplinary committee. - Insolvency and Bankruptcy Code, 2016

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..... in contravention of this Code, or the rules or regulations made thereunder, to disgorge an amount equivalent to such unlawful gain or aversion of loss. (5) The Board may take such action as may be required to provide restitution to the person who suffered loss on account of any contravention from the amount so disgorged, if the person who suffered such loss is identifiable and the loss so suffered is directly attributable to such person. (6) The Board may make regulations to specify- (a) the pro .....

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Section 220 - Appointment of disciplinary committee. - Insolvency and Bankruptcy Code, 2016

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