Section 27 in Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016
27. Surrender of Professional Membership. - (1) A professional member who wishes to surrender his membership of the Agency may do so by submitting an application for surrender of his membership.
(2)Upon acceptance of such surrender of his membership, and completion of thirty days from the date of such acceptance, the name of the professional member shall be struck from the registers of the Agency, and the same shall be intimated to the Board.
