Section 5(1) in Insolvency and Bankruptcy Board of India (Insolvency Professional Agencies) Regulations, 2016
(1)If the Board is satisfied, after such inspection or inquiry as it deems necessary and having regard to the principles specified in section 200 of the Code, that the applicant-(a)is eligible under Regulation 3;(b)has adequate infrastructure to perform its functions under the Code;(c)has in its employment, persons having adequate professional and other relevant experience, to enable it to perform its functions under the Code; and(d)has complied with the conditions of the certificate of registration, if he has submitted an application for renewal under Regulation 4(2)it may grant or renew a certificate of registration to the applicant to carry on the activities of an insolvency professional agency in Form B of the Schedule to these Regulations, within sixty days of receipt of the application, excluding the time given by the Board for removing the deficiencies, or presenting additional documents, information or clarification, or appearing in person, as the case may be.
