Section 217 of The Insolvency and Bankruptcy Code, 2016.
Any person aggrieved by the functioning of an insolvency professional agency or insolvency professional or an information utility may file a complaint to the Board in such form, within such time and in such manner as may be specified.
Summary
- Any person who is aggrieved by the functioning of a service provider has the right to file a complaint.
- Service providers include insolvency professionals, insolvency professional agencies, and information utilities.
- The complaint must be filed directly with the Insolvency and Bankruptcy Board of India.
- The complaint must be submitted in the specified form, within the specified time, and in the specified manner.
Practical examples
FAQ
1. Who can I complain to if an insolvency professional acts dishonestly under Section 217 of the Insolvency and Bankruptcy Code, 2016?
Under Section 217 of the Insolvency and Bankruptcy Code, 2016, any person aggrieved by the functioning of a service provider can file a complaint with the Insolvency and Bankruptcy Board of India.
2. What types of service providers can be complained against under Section 217 of the Insolvency and Bankruptcy Code, 2016?
Under Section 217 of the Insolvency and Bankruptcy Code, 2016, complaints can be filed against service providers, which include insolvency professionals, insolvency professional agencies, and information utilities.
3. Is there a specific format for filing a complaint under Section 217 of the Insolvency and Bankruptcy Code, 2016?
Yes, under Section 217 of the Insolvency and Bankruptcy Code, 2016, the complaint must be filed in such form, within such time, and in such manner as specified by regulations.
4. Can a debtor file a complaint against a registered agency under Section 217 of the Insolvency and Bankruptcy Code, 2016?
Yes, Section 217 of the Insolvency and Bankruptcy Code, 2016 allows any person who is aggrieved by the functioning of a service provider to file a complaint.
Test yourself
Q1.Under Section 217 of the Insolvency and Bankruptcy Code, 2016, which authority is empowered to receive complaints against service providers?
Q2.Who is eligible to file a complaint against a service provider under Section 217 of the Insolvency and Bankruptcy Code, 2016?
Q3.According to Section 217 of the Insolvency and Bankruptcy Code, 2016, how must a complaint against a service provider be submitted?
Q4.Which of the following is considered a service provider against whom a complaint can be filed under Section 217 of the Insolvency and Bankruptcy Code, 2016?