Section 21 in Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016
21.
(1)The Agency shall have a Grievance Redressal Policy providing the procedure for receiving, processing, redressing and disclosing grievances against the Agency or any professional member of the Agency by-(a)any professional member of the Agency;(b)any person who has engaged the services of the concerned professional members of the Agency; or(c)any other person or class of persons as may be provided by the Governing Board.(2)The Grievance Redressal Committee, after examining the grievance, may-(a)dismiss the grievance if it is devoid of merit; or(b)initiate a mediation between parties for redressal of grievance.(3)The Grievance Redressal Committee shall refer the matter to the Disciplinary Committee, wherever the grievance warrants disciplinary action.
