Regulation 7 - Disposal of complaint - Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations, 2017

CHAPTER IV DISPOSAL OF COMPLAINT Disposal of complaint 7. (1) The Board may seek additional information and records from the complainant and information and records from the concerned service provider to form a prima facie view whether the contravention alleged in the complaint is correct. (2) The complainant and the service provider shall submit the information and records sought under sub-regulation (1) within 1 [ seven ] days thereof. 2 [ Provided that an additional time, not exceeding seven days, may be granted by the Board on request of the service provider. ] 3 [ (3) The Board shall investigate the information and records and form an opinion whether there exists a prima facie case within thirty days of the receipt of the complaint. ] (4) The Board shall close the complaint where it is of the opinion under sub-regulation (3) that there does not exist a prima facie case and communicate the same to the complainant. (5) If the complainant is not satisfied with the decision of the Board under sub-regulation (4), he may request a review of such decision 4 [ within thirty days ] . (6) The Board shall dispose of the review under sub-regulation (5) within thirty days of the receipt of the request for review by an order with an opinion whether there exists a prima facie case. 5 [ (7) Where the Board is of the opinion that there exists a prima facie case, it may issue a show cause notice under regulation 11 of the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017 or order an investigation under Chapter III of Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017. ] (8) Where the Board is of the opinion that the complaint is not frivolous, it shall refund the fee of two thousand five hundred rupees received under sub-regulation (3) of regulation 3. ************* NOTES:- 1. Substituted vide Notification No. IBBI/2022-23/GN/REG086 dated 14-06-2022 before it was read as, fifteen 2. Inserted vide Notification No. IBBI/2022-23/GN/REG086 dated 14-06-2022 3. Substituted vide Notification No. IBBI/2022-23/GN/REG086 dated 14-06-2022 before it was read as, (3) The Board shall form an opinion whether there exists a prima facie case within forty-five days of the receipt of the complaint. 4. Inserted vide Notification No. IBBI/2022-23/GN/REG086 dated 14-06-2022 5. Substituted vide Notification No. IBBI/2022-23/GN/REG086 dated 14-06-2022 before it was read as, (7) Where the Board is of the opinion under this regulation that there exists a prima facie case, it may order an inspection under sub-regulation (3) of regulation 3, order an investigation under sub-regulation (2) of regulation 7 or issue a show cause notice under sub-regulation (2) of regulation 11 of the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017, as may be warranted.