TMI BlogTemporary Surrender and Revival of Professional Membership of an Insolvency ProfessionalX X X X Extracts X X X X X X X X Extracts X X X X ..... der and revival of professional membership by an Insolvency Professional (IP). 2. Temporary surrender of professional membership creates inconveniences where the IP is: conducting a process - corporate insolvency resolution, corporate liquidation, individual insolvency resolution and individual bankruptcy - under the Code; is acting as an authorised representative representing any class of financial creditors; is included in the panel under Insolvency Professionals to act as Interim Resolution Professionals or Liquidators (Recommendation) Guidelines, 2018 or similar Guidelines, is included in the panel under the Guidelines for Appointment of Insolvency Professionals as Administrators under the Securities and Exchange Board of India (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, 2018 or similar Guidelines; or is acting as an Administrator under the Guidelines for Appointment of Insolvency Professionals as Administrators the Securities and Exchange Board of India (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uidelines prevailing/pertaining to the empanelment of IPs, as on date. iii. I have not been empanelled by the IBBI in accordance with Guidelines for Appointment of IPs as Administrators under the SEBI (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, 2018, or any such subsequent guidelines prevailing/pertaining to the empanelment of IPs, as on date. iv. I do not have any pending assignments in which I am acting as an Administrator under the Securities and Exchange Board of India (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, 2018 or any such subsequent guidelines prevailing/pertaining to the empanelment of IPs, as on date. v. There is no disciplinary proceedings pending against me before the IPA or IBBI. vi. I undertake to co-operate with the _________________ ( name of IPA where the IP is enrolled ) and Insolvency and Bankruptcy Board of India in case of any grievance, complaint, inspection, investigation or disciplinary proceeding, even if it arises after the temporary surrender of my membership. vii. I have not become non-reside ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... SEBI (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, 2018, or any such subsequent guidelines prevailing/pertaining to the empanelment of IPs. IP does not have any pending assignments in which he is acting as an Administrator under the Securities and Exchange Board of India (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, 2018 as per the disclosure/return filed by IP which has been duly verified by the IPA. There is no disciplinary proceedings pending against IP before the IPA or the IBBI. 3. It is hereby intimated that the application of Mr/Mrs./Ms__________(name of IP) for temporary surrender has been accepted and his professional membership has been temporarily struck down from the register of the Agency w.e.f. _______________ ( write the date on which the membership was struck) in accordance with IBBI (Model Bye Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016 Regards, ( _________________) Managing Director / Chief Executive Officer Date : Place : ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing Board of Insolvency Professional Agencies) Regulations, 2016 and any such provisions in force pertaining to revival of professional membership after temporary surrender as on the date of application. 3. I verify that the above certification is true and correct to the best of my knowledge and belief. Regards, (________________________) Signature of the Individual Date : Place : Attachments to be provided: (i) Approval of temporary surrender as provided by the IPA; (ii) Proof of residence in India; (iii) Relieving Letter (in case of employment) 9 Annexure V FORM E (INTIMATION TO THE BOARD ON REVIVAL OF PROFESSIONAL MEMBERSHIP BY THE IPA) To, General Manager, IP Division, Insolvency and Bankruptcy Board of India Subject- Intimation to the Board on Revival of Professional Membership of Shri / Smt/ Ms ..(name of IP) by the IPA (name of IPA) Dear Sir/ Madam, It is hereby informed that professional memb ..... X X X X Extracts X X X X X X X X Extracts X X X X
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