Mentioning about instances of the professionals charging high amounts for services, Sahoo urged them not to delegate, outsource, overcharge or engage related parties. Don’t try to take Rs 14 crore from a default of Rs 2 crore…, he said, adding that remuneration should be charged in a transparent manner.
His position is quite unique compared to other professions. It requires highest levels of integrity, reputation and character. Such responsibilities cannot be entrusted to people of doubtful integrity, Sahoo noted.
The professionals should remain competitive and be updated, the IBBI chief said, adding that they should look at using artificial intelligence to bring down the time taken to complete a resolution process.
Noting that the…
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