Regulation 13

(1) The Disciplinary Committee, after providing an opportunity of being heard to the noticee, shall dispose of the show-cause notice by a reasoned order. (2) 21 [The Disciplinary Committee shall endeavour to dispose of the show-cause notice within a period of 22 [sixty days from the due date for receipt of reply to the show-cause notice].] (3) The order under sub-regulation (1) may provide for- (a) closure of show-cause notice without any direction; (b) warning; 23 [(ba) suspension or cancellation of authorisation for assignment of an insolvency professional;] (c) any of the actions 24 [or directions] under sub-sections (2), (3) and (4) of section 220; (d) a reference to the Board to take any action under sub-section (5) of section 220 or sub-section (2) of section 236; or (e) any other action or direction as may be considered appropriate. (4) The order under sub-regulation (1) shall not become effective until thirty days have elapsed from the date of issue of the order, unless the Disciplinary Committee states otherwise in the order along with the reasons for the same. (5) 25 [The order passed under sub-regulation (1) shall be served upon the service provider in an electronic form and be published on the website of the Board: 20 Substituted by Notification No. IBBI/2022-23/GN/REG087, dated 14th June, 2022 (w.e.f. 14.06.2022). Prior to substitution, it stood as: “(6) A show-cause notice issued shall be served on the noticee- (a) by sending it to the noticee at its registered office, by registered post with acknowledgement due; and (b) by an appropriate electronic form to the email address provided by the service provider to the Board.” 21 Substituted by Notification No. IBBI/2022-23/GN/REG087, dated 14th June, 2022 (w.e.f. 14.06.2022). Prior to substitution, it stood as “(2) The Disciplinary Committee shall dispose of the show-cause notice within a period of 180 days of the issue of the show-cause notice.” 22 Substituted by Notification No. IBBI/2024-25/GN/REG115, dated 13th August, 2024 (w.e.f. 13.08.2024). Prior to substitution it stood as under: “thirty-five days of the date of the issuance of the show-cause notice”. 23 Inserted by Notification No. IBBI/2022-23/GN/REG087, dated 14th June, 2022 (w.e.f. 14.06.2022). 24 Inserted by Notification No. IBBI/2026-27/GN/REG145, dated 01st June, 2026 (w.e.f. 02-06-2026). 25 Substituted by Notification No. IBBI/2022-23/GN/REG087, dated 14th June, 2022 (w.e.f. 14.06.2022). Prior to substitution, it stood as: “(5) The order under sub-regulation (1) shall be issued to the noticee immediately, and be published on the website of the Board.”

Provided that where the service provider is an insolvency professional, a copy of the order shall be sent to the insolvency professional agency of which he is a professional member.] 26 [(6) The Disciplinary Committee shall in the order passed under sub-regulation (1) require the service provider- (a) to discharge pending obligations, if any; (b) to continue its functions till such time as may be directed, only to enable stakeholders to shift to another service provider; and (c) to comply with any other directions. (7) In case where the service provider is an insolvency professional, the Board shall intimate the order to all the members of committee of creditors of the insolvency resolution processes in which he is acting as an interim resolution professional or resolution professional, as the case may be, and to the Adjudicating Authority.]