Mr. Bikram Kumar applied to the Insolvency and Bankruptcy Board of India (IBBI) for registration as an Insolvency Professional. During scrutiny, the Board discovered that Mr. Bikram Kumar had a prior criminal conviction

The IBBI would have rejected his application, holding that Mr. Bikram Kumar was not fit and proper to be registered as an Insolvency Professional in view of the circumstances explained. As per explanation to Regulation 4(1)(g), of IBBI (Insolvency Professionals) Regulations, 2016 for determining whether an individual is fit and proper, the IBBI may take into account any consideration as it deems fit, including but not limited to the following criteria, namely: integrity, reputation and character, absence of convictions and restraint orders, and competence, including financial solvency and net worth.