Category: IBBI
Demanding bribe from directors of Corporate Debtor – IBBI absolves Insolvency Professional In a recent order, Disciplinary Committee of Insolvency and Bankruptcy Board of India (IBBI) on benefit of doubt, absolved an Insolvency Professional (IP) of the charges of demanding bribe from directors of the suspended board of …
IBBI bans Insolvency Professional for three months for appointing unregistered valuer ABACUS Case Law CitationABCAUS 3372 (2020) (08) IBBI In a recent case, Disciplinary Committee of IBBI has banned an Insolvency Professional for a period of three months for appointing unregistered valuer Under regulation 27 of the corporate …
Pendency of criminal proceedings u/s 498A of IPC makes a person not fit and proper to become an Insolvency Professional. ABCAUS Case Law Citation: ABCAUS 2839 (2019) (03) IBBI In the instant case, the Insolvency and Bankruptcy Board of India (IBBI/Board) rejected the application for registration as an …
IBBI debars Insolvency Professional for ten years as her husband assigned CIRPs of 15 CD and wife consented to act as IRP for exorbitant fees ABCAUS Case Law Citation: ABCAUS 2797 (2019) (02) IBBI In the instant case, both husband and wife were insolvency professionals registered with the …
Registration of insolvency professional cancelled for deliberate, blatant, orchestrated and collusive contraventions and also banned for ten years ABCAUS Case Law Citation: ABCAUS 2629 (2018) (11) IBBI Important Case Laws Cited/relied upon: DF Deutsche Forfait AG and Anr. vs. Uttam Galva Steel Ltd. The Disciplinary Committee of Insolvency …
IBBI penalised Insolvency Professional for raising bill in the name of Ernst & Young LLP. Fees of the lRP/RP should be raised only by him and should only be received by him ABCAUS Case Law Citation: ABCAUS 2493 (2018) 08 IBBI In the said matter, the replaced Resolution …
IBBI rejects IP registration application for pending criminal proceedings as it impacts the reputation making applicant not a fit and proper person ABCAUS Case Law Citation: ABCAUS 2383 (2018) 06 IBBI The applicant who was a professional member of the ICSI Institute of Insolvency Professionals (ICSI IIP) submitted …
Uploading E-forms on MCA 21 Portal not experience in management for registration as Insolvency Professionals as required under IBBI (Insolvency Professionals) Regulations 2016 ABCAUS Case Law Citation ABCAUS 2347 (2018) 05 IBBI In terms of regulation 5(b) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, …
IRP seeking discharge after appointment fined by NCLT. IBBI directed to take action under IBC-2016 Regulations for unprofessional attitude of IRP ABCAUS Case Law Citation: ABCAUS 2339 (2018) (05) IBBI An application had been filed by the Insolvency Resolution Professional (IRP) seeking for discharge from the Corporate Insolvency …
IBBI bans an Insolvency Professional for one year for quoting exorbitant fee and collusion with corporate debtor. The IP was believed to be the wife of the CA of the corporate debtor. ABCAUS Case Law Citation: ABCAUS 2326 (2018) (05) IBBI An operational creditor had filed an application …
