200. Principles governing registration of insolvency professional agency
The Board shall have regard to the following principles while registering the insolvency professional agencies under this Code, namely:—
(a)
to promote the professional development of and regulation of insolvency professionals;
(b)
to promote the services of competent insolvency professionals to cater to the needs of debtors, creditors and such other persons as may be specified;
(c)
to promote good professional and ethical conduct amongst insolvency professionals;
(d)
to protect the interests of debtors, creditors and such other persons as may be specified;
(e)
to promote the growth of insolvency professional agencies for the effective resolution of insolvency and bankruptcy processes under this Code.