IBBI suspends insolvency professional's licence over use of its name

The committee said the use of the regulator's name without its permission was unacceptable

Taking exception to the use of its name, the Insolvency and Bankruptcy Board of India (IBBI) has suspended the licence of an insolvency professional.  The insolvency professional, Kapil Goel, had registered his company as “IBBI Insolvency Practioners LLP”. The company was incorporated in November 2017.

When the regulator saw this, it had sought a clarification from Goel. He had told the board that he has already asked the Registrar of Companies to change the name, but the name had not been changed. 

Following this, IBBI suspended Goel's licence to practise for three months, starting September 6. He will be able