IBBI releases discussion paper on n Governance Issues in Insolvency Professional Agencies (IPAs)
Admin | 6180 Views | 15 Sep 2020
?Insolvency and Bankruptcy Board of India has released a discussion paper on n Governance Issues in Insolvency Professional Agencies (IPAs) and proposed amendment on requirement of certain minimum qualifications, experience and other criteria for appointment of directors of the IPA and Self-Evaluation by the Governing Board of IPA.
IBBI considered it necessary to solicit comments on the following points relating to the afore-stated issues:
Issues 1: Governing Board of the IPA to provide for certain minimum qualifications, experience and other requirements for directors
a) Should the Governing Board of IPA provide for certain minimum qualifications, experience and other requirements for appointment in respect of both independent and shareholder directors?
b) If yes, whether the proposal at Para 9 is adequate or any change is required?
c) If no, what should be the criteria for ensuring Governing Board of IPA consists of Directors with relevant expertise?
Issue 2: Self-Evaluation by the Governing Board of IPA
a) Should the Governing Board of an IPA conduct self-evaluation periodically?
b) If yes, whether the proposal at Para 13 is adequate or any change is required?
c) If no, what should be the criteria for ascertaining the performance of the Governing Board?
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