A curious issue of whether a company can register itself as a resolution professional and raise the main bills for the services, so granted, has cropped up in the nascent discipline of insolvency.
The issue stirred a debate after an insolvency professional registered a complaint with the sector regulator against a multinational company raising bills for insolvency services. The issue arose since Section 207 of the insolvency and bankruptcy code (IBC) says that every insolvency professional shall, after obtaining the membership of any insolvency professional agency, register himself with the board (Insolvency and Bankruptcy Board of India).
The section further reads, the board may spe…
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