The proposed amendment introduces strict conduct standards for recovery agents and borrower interaction. Harsh practices and coercive methods are expressly prohibited.
The proposed amendment introduces strict conduct standards for recovery agents and borrower interaction. Harsh recovery practices and coercive methods are expressly prohibited.
The Registrar penalized the officer in default for failing to appoint the required number of independent directors within the prescribed timeline. The default continued until proper appointments were made.
The IBBI cancelled a registered valuer’s licence after his expulsion from a Registered Valuers Organisation made him ineligible under Rule 3 and Rule 7 of the Valuation Rules.
The Registrar imposed a penalty for failure to appoint the required two independent directors within the prescribed three-month period. The default continued until full compliance was achieved.
The discussion paper suggests stronger recording of CoC deliberations, structured approval of CIRP costs, and clearer roles in delayed claims. It also proposes excluding related operational creditors to safeguard independence.
ROC Kolkata imposed penalties after a public company failed to appoint a woman director within the statutory six-month period. Though the default was later rectified, penalties were levied for the period of non-compliance under Section 172.
Following the creation of Hansi district, Punjab National Bank has been designated as the Lead Bank. Other districts in Haryana remain unaffected.
Proposed guidelines permit PCMA firms to change names with Council approval while retaining registration number and tenure, provided continuity conditions are met.
Failure to disclose director changes, related party loans, and website details in the Board’s Report attracted penalties. Reduced fines were applied under small company provisions.
