INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
NOTIFICATION
New Delhi, the 6th December, 2017
No. IBBI/2017-18/GN/REG/21.—In
exercise of the powers conferred under sections 196, 217, read with section 240
of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and
Bankruptcy Board of India hereby makes the following Regulations, namely :—
Full Notification
http://ibbi.gov.in/webadmin/pdf/whatsnew/2017/Dec/180723_2017-12-09%2009:58:17.pdf
CHAPTER I
PRELIMINARY
1. Short title, commencement and application.
(1) These regulations may be called the Insolvency and Bankruptcy
Board of India (Grievance and Complaint Handling Procedure) Regulations, 2017.
(2) These regulations shall come into force on the date of their
publication in the Official Gazette.
(3) These regulations shall apply to grievances and complaints
against service providers.
2. Definitions.
(1) Unless the context otherwise requires-
(a) “aggrieved” means a stakeholder who has filed a grievance with
the Board on failing to get his grievance redressed from the concerned service
provider;
(b) “associated person” means a proprietor, partner, director,
officer, or an employee of a service provider, a professional or a valuer
engaged by a service provider or any other person acting for or on behalf of a
service provider;
(c) “Board” means the Insolvency and Bankruptcy Board of India
established under sub-section (1) of section 188 of the Code;
(d) “Code” means the Insolvency and Bankruptcy Code, 2016 (31 of
2016);
(e) “complaint” means a written expression by a stakeholder
alleging contravention of any provision of the Code or rules, regulations, or
guidelines made thereunder or circulars or directions issued by the Board by a
service provider or any of its associated persons and includes a
complaint-cum-grievance;
(f) “complaint-cum-grievance” means a complaint and grievance in
the same matter.
(g) “complainant” means a stakeholder who has filed a complaint or
a complaint-cum-grievance with the Board;
(h) “grievance” means a written expression by a stakeholder of his
suffering on account of conduct of a service provider or its associated
persons;
(i) “service provider” means an insolvency professional agency, an
insolvency professional, an insolvency professional entity or an information
utility;
(j) “stakeholder” means a debtor, a creditor, a claimant, a
service provider, a resolution
applicant and any other person having an interest in the insolvency,
liquidation, voluntary liquidation, or bankruptcy transaction under the Code.
(2) The words and expressions used and not defined in these regulations,
but defined in the Code, shall have the same meaning as assigned to them in the
Code.
CHAPTER II
FILING
OF GRIEVANCE AND COMPLAINT
3. Filing of grievance and complaint.
(1) A stakeholder, who wishes to file a grievance, shall file it
with the Board.
(2) A grievance shall state:-
(i) details of identity of the aggrieved;
(ii) details of identity of the service provider;
(iii) details of the conduct of the service provider that has
caused the suffering to the aggrieved;
(iv) details of suffering, whether pecuniary or otherwise, the
aggrieved has undergone;
(v) how the conduct of the service provider has caused the
suffering of the aggrieved;
(vi) details of his efforts to get the grievance redressed from the
service provider and why the response, if any, of the service provider is not
satisfactory; and
(vii) how the grievance may be redressed.
(3) A stakeholder, who wishes to file a complaint, shall file it
with the Board in Form A along with a demand draft for two thousand and five
hundred rupees drawn in favour of the Insolvency and Bankruptcy Board of India
payable at New Delhi or an online acknowledgement of two thousand and five
hundred rupees paid to the credit of the Board towards fee.
(4) A grievance or a complaint, as the case may be, shall be filed
within forty-five days of the occurrence of the cause of action for the
grievance or the complaint:
Provided that a grievance or a complaint may be filed after the
aforesaid period, if there are sufficient reasons justifying the delay, but
such period shall not exceed 30 days.
(5) A
grievance or a complaint shall be filed with the Board online:
Provided that a grievance or complaint shall be filed by mail at complaintsandgrievances@ibbi.gov.in or by post or hand delivery at the Office of the Board, until the
Board provides a facility for online filing of grievances and complaints.
4. Identity of the stakeholder.
(1) A stakeholder filing a grievance, or a complaint shall
disclose its identity in the grievance or the complaint, as the case may be,
and also the identity of the authorised representative, who is authorised to
file it.
(2) A stakeholder filing a grievance or a complaint, as the case
may be, may request the Board to keep its identity confidential and in that
case the Board shall keep it confidential unless its disclosure is necessary
for processing the grievance or complaint or under any law.
5. Registration number.
(1) Where the Board is in receipt of more than one grievance or
more than one complaint in the same matter, it may club such grievances or such
complaints together for their disposal.
(2) The Board shall assign a unique registration number to every
grievance and every complaint and communicate the said registration number to
the aggrieved or the complainant within a week of its receipt.
(3) The Board shall not take any cognizance of any anonymous
grievance or complaint.
CHAPTER III
DISPOSAL
OF GRIEVANCE
6. Disposal of grievance.
(1) The Board may seek additional information and records from the
aggrieved and information and records from the concerned service provider to
decide if the grievance requires any redress by the service provider.
(2) The aggrieved and the service provider shall submit the
information and records sought under sub-regulation (1) within fifteen days
thereof.
(3) The Board shall close the grievance within forty-five days of
its receipt if it does not require any redress.
(4) The Board shall direct the service provider to redress the
grievance within forty-five days of its receipt if it requires any redress.
CHAPTER IV
DISPOSAL
OF COMPLAINT
7. Disposal of complaint.
(1) The Board may seek additional information and records from the
complainant and information and records from the concerned service provider to
form a prima facie view whether the contravention alleged in the complaint is
correct.
(2) The complainant and the service provider shall submit the
information and records sought under sub-regulation (1) within fifteen days
thereof.
(3) The Board shall form an opinion whether there exists a prima
facie case within forty-five days of the receipt of the complaint.
(4) The Board shall close the complaint where it is of the opinion
under sub-regulation (3) that there does
not exist a prima facie case and communicate the same to the complainant.
(5) If the complainant is not satisfied with the decision of the
Board under sub-regulation (4), he may request a review of such decision.
(6) The Board shall dispose of the review under sub-regulation (5)
within thirty days of the receipt of the request for review by an order with an
opinion whether there exists a prima facie case.
(7) Where the Board is of the opinion under this regulation that
there exists a prima facie case, it may order an inspection under
sub-regulation (3) of regulation 3, order an investigation under sub-regulation
(2) of regulation 7 or issue a show cause notice under sub-regulation (2) of regulation
11 of the Insolvency and Bankruptcy Board of India (Inspection and
Investigation) Regulations, 2017, as may be warranted.
(8) Where the Board is of the opinion that the complaint is not
frivolous, it shall refund the fee of two thousand five hundred rupees received
under sub-regulation (3) of regulation 3.
CHAPTER V
STATISTICS
8. The Board shall periodically
disclose summary statistics about receipt and disposal of grievances and complaints
on its web site.
Form A
[Under sub-regulation (3) of regulation (3) of the
Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling
Procedure) Regulations, 2017]
Date
……….
To
Insolvency
and Bankruptcy Board of India
(Write
here the address of the Board)
Dear
Madam / Sir,
Subject:
Complaint against [name of the service provider / associated person]
I,
hereby submit a complaint against [name of the service provider / associated
person]. The details of the same are set out as under:
|
Sl. No.
|
Particulars
|
Description
|
|
1
|
Name of the complainant
|
|
|
2
|
Identity of the complainant
|
Aadhaar No / CIN
|
|
3
|
Name of the authorised representative, if
complaint is filed on behalf of the
complainant
|
|
|
5
|
Complete
address for correspondence with
complainant
/ authorised representative:
(Along
with Email ID & Phone No.)
|
|
|
6
|
Name
of the service provider / its
associated
persons complained against
|
|
|
7
|
Identity
of the service provider
|
Aadhaar
No / CIN (If known)
|
|
8
|
Complete
address of the service provider
(Along
with Email ID & Phone No)
|
|
|
9
|
Details
of the alleged contravention of any provision of the Code or rules,
regulations, or guidelines made thereunder or circulars or directions issued
by the Board by a service provider or its associated persons.
|
Please
quote the exact section, sub-section, rules, regulation, or clause, as the
case may be.
|
|
10
|
Details
of alleged conduct or activity of the service provider or its associated persons,
along with date and place of such conduct or activity, which contravenes the provision
of the law.
|
Please
narrate details.
|
|
11
|
Details
of suffering, whether pecuniary or otherwise, the complainant has undergone.
|
|
|
12
|
How
the conduct or activity of the service provider or its associated persons has
caused the suffering of the complainant or to any other stakeholder.
|
|
|
13
|
Details
of evidence in support of alleged contravention.
|
|
|
14
|
Does
the complainant have a grievance? If so, how it may be redressed?
|
|
|
15
|
Is
complaint being filed within forty-five days of the occurrence of the cause
of action for the complaint?
If
not explain the reasons for delay.
|
|
|
16
|
Whether
the fee of Rs.2500 has been paid
|
Yes
/ No
|
|
17
|
The
Bank account No. and details of the complainant to which the fee can be refunded
|
|
|
18
|
Whether
the complainant wishes to keep its identity confidential
|
Yes
/ No
|
|
19
|
List
of documents attached in support of the complaint:
|
a. Authorisation, if it is filed by an
authorised representative;
b. Demand draft for Rs.2500 / Online acknowledgement of credit
of Rs.2500 to the account of the Board;
If
any, other document
|
|
20
|
Any
other details in support of the
complaint.
|
|
Yours faithfully
Signature
Name of the Complainant /
Authorised Representative
Verification
I, ……………………………….,, the complainant / authorised representative of
the complainant do hereby declare that what is stated above is true to the best
of my knowledge and belief.
Verified today, the ……………………. day of ………………, 20xx, at ……………………
Signature
Name of the Complainant / Authorised Representative
Date:
Place:
By
CS Diwakar Agrawal
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