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Insolvency Professional Agencies Table 20: CPE Hours earned by the IPs
IPAs are front-line regulators and responsible for developing and regulating Period Number of CPE Hours earned by members of
the insolvency profession. They discharge three kinds of functions, namely, IIIPI ICSI IIP IPA ICAI Total
quasi-legislative, executive, and quasi-judicial. The quasi-legislative functions 2019 - 20 1160 695 320 2175
cover laying down standards and code of conduct through byelaws, which 2020 - 21 18465 8746 4647 31858
are binding on all members. The executive functions include monitoring, 2021 - 22 14123 7890 3872 25885
inspection, and investigation of professional members on a regular basis, Apr - Jun, 2022 1651 2205 820 4676
addressing grievances of aggrieved parties, gathering information about Jul - Sep, 2022 1338 947 818 3103
their performance, etc., with the overarching objective of promoting best Total 36737 20483 10477 67697
practices and conduct by IPs. The quasi-judicial functions include dealing Average CPE hours
with complaints against members and taking suitable disciplinary actions. per registered IP 13.96 17.81 26.59 16.21
As on September 30, 2022, there are three IPAs registered in accordance
with the Code and Regulations. The IBBI interacts with the Managing Information Utility
Directors (MDs) of the IPAs and the IU every month, to obtain feedback on There is one IU, namely, the National E-Governance Services Limited
areas of concern for the profession of IPs and discuss the resolutions and the 1H6/ WKDW SURYLGHV DXWKHQWLFDWHG ÀQDQFLDO LQIRUPDWLRQ WR WKH XVHUV 7KH
way forward. Table 19 presents the details of activities by the IPAs. Table 20 ,%%, LQWHUDFWV ZLWK WKH 0' &(2 RI WKH ,8 DORQJ ZLWK WKH 0'V RI ,3$V
gives details of number of CPE hours earned by IPs. every month to discuss the issues relating to receipt and authentication of
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Table 19: Activities by IPAs to encourage their members to make use of the information stored with the
Period Number of ,8 IRU YHULÀFDWLRQ RI FODLPV GXULQJ &,53 )LJXUH SURYLGHV GHWDLOV RI WKH
Pre-reg- CPE Pro- Training Other Disci- Com- registered users and information with NeSL, as submitted by it.
istration grammes Workshops Workshops/ plinary plaints
courses conducted for IPs Webinars/ Orders (Forward-
conducted Round- Issued ed by IBBI) Registered Valuer Organisations
tables/ Disposed
Seminars The Companies (Registered Valuers and Valuation) Rules, 2017 (Valuation
2018 - 19 16 - 7 100 4 11 Rules) made under section 247 of the Companies Act, 2013 provide a
2019 - 20 11 30 9 157 9 127 XQLÀHG LQVWLWXWLRQDO IUDPHZRUN IRU GHYHORSPHQW DQG UHJXODWLRQ RI YDOXDWLRQ
2020 - 21 14 193 66 102 42 102
profession. Its remit is limited to valuations required under the Companies
2021 - 22 13 133 56 81 23 12
Act, 2013 and the Code. The IBBI performs the functions of the Authority
Apr - Jun, 2022 02 44 30 60 80 -
under the Valuation Rules. It recognises RVOs and registers RVs and
Jul - Sep, 2022 02 40 22 29 NIL 16
exercises regulatory oversight over them, while RVOs serve as front-line
Total 58 440 190 529 158 268
regulators for the valuation profession.

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11/15/2022 12:24:50 PM
IBBI newsletter.indd 21
IBBI newsletter.indd 21 11/15/2022 12:24:50 PM