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[Cites 0, Cited by 0] [Section 3(1)] [Section 3] [Entire Act]

Union of India - Subsection

Section 3(1)(c) in Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

(c)is not an employee or proprietor or a partner:
(i)of a firm of auditors or [secretarial auditors] [Substituted 'company secretaries' by Notification No. IBBI/2017-18/GN/REG030, dated 27.3.2018 (w.e.f. 30.11.2016).] in practice or cost auditors of the corporate debtor; or
(ii)of a legal or a consulting firm, that has or had any transaction with the corporate debtor amounting to [five per cent] [Substituted 'ten per cent' by Notification No. IBBI/2018-19/GN/REG031, dated 3.7.2018 (w.e.f 30.11.2016).] or more of the gross turnover of such firm, in the last three financial years.