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Appointment of disciplinary committee.

Section 220 - Act - INSPECTION AND INVESTIGATION - Insolvency and Bankruptcy Code, 2016 - Section 220 - 220. (1) The Board shall constitute a disciplinary committee to consider the reports of the investigating Authority submitted under sub-section (6 .....

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icient cause exists, it may impose penalty as specified in sub-section (3) or suspend or cancel the registration of the insolvency professional or, suspend or cancel the registration of insolvency professional agency or information utility as the cas .....

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be- (i) three times the amount of the loss caused, or likely to have been caused, to persons concerned on account of such contravention; or (ii) three times the amount of the unlawful gain made on account of such contravention, whichever is higher: P .....

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