Insolvency professional to use Registration Number and Registered Address in all his communications

Insolvency professional to use Registration Number and Registered Address in all his communications with his name, address email and capacity

In a recent circular Insolvency and Bankruptcy Board of India (IBBI) has directed that in all his communications, whether by way of public announcement or otherwise to a stakeholder or to an authority, an insolvency professional shall prominently state the following particulars:

(i) his name, address and email, as registered with the IBBI,

(ii) his Registration Number as an insolvency professional granted by the IBBI, and

(iii) the capacity in which he is communicating (Example: As Interim Resolution Professional of XYZ Limited, As Resolution Professional of ABC Limited, etc.).

The direction has come after the Board observed that a few insolvency professionals are using different addresses and emails while communicating with the stakeholders, despite repeated advice it to use the addressees and emails registered with the IBBI in all their communications.

Additionally, it has been clarified that an insolvency professional may use a process (Example: CIRP, Liquidation, etc.) specific address and email in its communications, if he considers it necessary subject to the following conditions :

(i) the process specific address and email are in addition to the details required, and

(ii) the insolvency professional continues to service the process specific address and email for at least six months from conclusion of his role in the process.