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Eligibility for resolution professional

Regulation 3 - Regulation - GENERAL - Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 - Regulation 3 - CHAPTER II GENERAL 3. (1) An insolvency professional shall be eligible .....

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lanation- A person shall be considered independent of the corporate debtor, if he - (a) is eligible to be appointed as an independent director on the board of the corporate debtor under section 149 of the Companies Act, 2013 (18 of 2013), where the c .....

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) of a legal or a consulting firm, which has or had any transaction with the corporate debtor amounting to ten per cent or more of the gross turnover of such firm, at any time in the preceding three years. (2) An insolvency professional shall not be .....

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