NEW DELHI: The regulations for grievance handling procedure under the Insolvency and Bankruptcy Code have been notified, wherein the filing fee will be refunded to the stakeholder in case the complaint is found to be not “frivolous or malicious”.
The Insolvency and Bankruptcy Board of India (IBBI), which is implementing the Code, has notified the regulations and will be applicable for all stakeholders, including creditors, debtors and service providers.
Depending on the complaint, the IBBI can order an investigation or issue a show cause notice to the entities concerned.
“The regulations provide for an objective and transparent procedure for disposal of grievances and complaints by the IBBI, that does not spare a mischi…
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