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INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (GRIEVANCE AND
COMPLAINT HANDLING PROCEDURE) REGULATIONS, 20171
[AMENDED UPTO 14-06-2022]
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
:—
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 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;
1 Vide Notification No. IBBI/2017-18/GN/REG/21, dated 6th December 2017, published in the Gazette of India,
Extraordinary, Part III, Sec.4, dated 7th December, 2016 (w.e.f. 07.12.2016).
(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) 2[A grievance or a complaint shall be filed with the Board on its dedicated portal
www.ibbi.gov.in.]
2 Substituted by Notification No IBBI/2022-23/GN/REG086, dated 14th June, 2022 (w.e.f. 14-06-2022). Sub-
regulation (5), before substitution stood as under:
“(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. 3[Disposal of grievance by the Board].
(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 4[seven] days thereof.
5[Provided that an additional time not exceeding seven days may be granted by the Board
for submitting the information and records sought under sub-regulation (2) on the request
of the service provider.]
(3) The Board shall close the grievance within 6[thirty] days of its receipt if it does not
require any redress.
(4) The Board shall direct the service provider to redress the grievance within 7[thirty]
days of its receipt if it requires any redress.
3 Substituted by Notification No IBBI/2022-23/GN/REG086, dated 14th June, 2022 (w.e.f. 14-06-2022). The short
title, before substitution stood as: “Disposal of grievance”.
4 Substituted by Notification No IBBI/2022-23/GN/REG086, dated 14th June, 2022 (w.e.f. 14-06-2022). The words,
before substitution stood as: “fifteen”.
5 Inserted by Notification No IBBI/2022-23/GN/REG086, dated 14th June, 2022 (w.e.f. 14-06-2022).
6 Substituted by Notification No IBBI/2022-23/GN/REG086, dated 14th June, 2022 (w.e.f. 14-06-2022). The words,
before substitution stood as: “forty-five”.
7 Substituted by Notification No IBBI/2022-23/GN/REG086, dated 14th June, 2022 (w.e.f. 14-06-2022). The words,
before substitution stood as: “forty-five”.
8[6A. Disposal of grievance by Insolvency Professional Agency.
(1) Notwithstanding anything contained in regulation 6, the Board may forward a grievance
against an insolvency professional for disposal by the insolvency professional agency of
which he is a professional member.
(2) On receipt of the grievance under sub-regulation (1), the insolvency professional agency
shall dispose of the grievance in accordance with its bye-laws and intimate the Board within
thirty days of receipt of grievance.]
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 9[seven] days thereof.
10[Provided that an additional time, not exceeding seven days, may be granted by the
Board on request of the service provider.]
(3) 11[The Board shall investigate the information and records and form an opinion
whether there exists a prima facie case within thirty 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 12[within thirty days].
(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) 13[Where the Board is of the opinion that there exists a prima facie case, it may issue
8 Inserted by Notification No IBBI/2022-23/GN/REG086, dated 14th June, 2022 (w.e.f. 14-06-2022).
9 Substituted by Notification No IBBI/2022-23/GN/REG086, dated 14th June, 2022 (w.e.f. 14-06-2022). The words,
before substitution stood as: “fifteen”.
10 Inserted by Notification No IBBI/2022-23/GN/REG086, dated 14th June, 2022 (w.e.f. 14-06-2022).
11 Substituted by Notification No IBBI/2022-23/GN/REG086, dated 14th June, 2022 (w.e.f. 14-06-2022). Sub-
regulation (3), before substitution stood as under:” The Board shall form an opinion whether there exists a prima facie
case within forty-five days of the receipt of the complaint”.
12 Inserted by Notification No IBBI/2022-23/GN/REG086, dated 14th June, 2022 (w.e.f. 14-06-2022).
13 Substituted by Notification No IBBI/2022-23/GN/REG086, dated 14th June, 2022 (w.e.f. 14-06-2022). Sub-
regulation (7), before substitution stood as: “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”.
a show cause notice under regulation 11 of the Insolvency and Bankruptcy Board of
India (Inspection and Investigation) Regulations, 2017 or order an investigation
under Chapter III of Insolvency and Bankruptcy Board of India (Inspection and
Investigation) Regulations, 2017].
(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
4
Identity
of
the
authorised
representative
Aadhaar No.
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;
c.
d.
.
.
m.
n.
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:
