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2022 (8) TMI 1059 - Tri - Insolvency and BankruptcyAppointment of proposed IRP - HELD THAT:- It is observed that First Schedule under Regulation 7(2)(h) of the IBBI (Insolvency Professional) Regulations, 2016 at point 15 of the Code of Conduct for Insolvency Professionals, which states that “An insolvency professional must make efforts to ensure that all communication to the stakeholders, whether in the form of notices, reports, updates, directions, or clarifications, is made well in advance and in a manner which is simple, clear, and easily understood by the recipients''. The proposed IRP, Mr. Deepankur Sharma, in the present application is directed to adhere to the aforementioned Code of Conduct before giving his consent in an application under the Code - Since, no other IRP has been suggested thus, under sub section (4) of Section 9 of the Code, the Adjudicating Authority has to forward the name of Resolution Professional proposed to the Insolvency and Bankruptcy Board of India for its confirmation and shall make such appointment after the confirmation of Board. The term of appointment of Mr. Anil Arora shall be in accordance with the provisions of Section 16(5) of the Code - Application allowed.
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