The Ministry of Corporate Affairs as part of the process of implementing Insolvency and Bankruptcy Code, 2016 (Code) had set up a Working Group consisting of practitioners and experts for making recommendations for drafting Regulations for registration and regulation of insolvency professionals and insolvency professional agency as administered under the Code. 

Further, the Ministry of Corporate Affairs (MCA) had also set-up a working group for making recommendations for drafting rules and regulations for the insolvency resolution and liquidation of insolvent corporate persons. 

Based on recommendations of the working groups, Rules and regulations have been drafted. These Rules and Regulations have been made available on an online Portal of MCA, www.mca.gov.in. 

The members are requested to submit their suggestions on the Email ID - insolvencycodesuggestions@icai.in latest by 24th October, 2015 so that the same may be compiled and submitted to the Ministry. 

CA. Dhinal Shah
Chairman, CL&CGC, ICAI