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Section204
The Insolvency and Bankruptcy Code, 2016

Functions of insolvency professional agencies

In force Act 31 of 2016 As on 22 Oct 2026

Act 31 of 2016 Ministry Corporate Affairs Enacted 28 May 2016 Cited by 1 provision

Section 204 of the Insolvency and Bankruptcy Code, 2016 deals with functions of insolvency professional agencies. An insolvency professional agency shall perform the following functions, namely:— (a) grant membership to persons who fulfil all requirements set out in its byelaws on payment of membership fee; The Act was enacted on 28 May 2016.

An insolvency professional agency shall perform the following functions, namely:—

(a) grant membership to persons who fulfil all requirements set out in its byelaws on payment of membership fee;

(b) lay down standards of professional conduct for its members;

(c) monitor the performance of its members;

(d) safeguard the rights, privileges and interests of insolvency professionals who are its members;

(e) suspend or cancel the membership of insolvency professionals who are its members on the grounds set out in its bye-laws;

(f) redress the grievances of consumers against insolvency professionals who are its members; and

(g) publish information about its functions, list of its members, performance of its members and such other information as may be specified by regulations/

Section 204, The Insolvency and Bankruptcy Code, 2016 (Act 31 of 2016).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

Referred to by 1

  1. s. 240 Power to make regulations

Questions about Section 204

What does Section 204 of the Insolvency and Bankruptcy Code deal with?

Section 204 of the Insolvency and Bankruptcy Code is headed "Functions of insolvency professional agencies". An insolvency professional agency shall perform the following functions, namely:— (a) grant membership to persons who fulfil all requirements set out in its byelaws on payment of membership fee;

How do I find court cases under Section 204 of the Insolvency and Bankruptcy Code?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Insolvency and Bankruptcy Code 204, section 204 Insolvency and Bankruptcy Code, section 204 of the Insolvency and Bankruptcy Code. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 204 of the Insolvency and Bankruptcy Code, and has it changed?

1 other provision in this corpus refers back to it.

When was Section 204 of the Insolvency and Bankruptcy Code enacted?

Section 204 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 204, was enacted on 28 May 2016 as Act 31 of 2016. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 22 Oct 2026. This page is not a substitute for legal advice.