# Savan Godiawala vs. Insolvency and Bankruptcy Board of India

> HC judgment dated 2025-09-09. Citation: TCN-2025-HC-00076. This writ petition challenges an order passed by the Disciplinary Authority of the Insolvency and…

- **Court:** HC
- **Order date:** 9 Sept 2025
- **Citation:** TCN-2025-HC-00076
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/bombay-high-court-panaji/savan-godiawala-vs-insolvency-and-bankruptcy-board-of-india-twkvjeuv

## Summary

### Background

This writ petition challenges an order passed by the Disciplinary Authority of the Insolvency and Bankruptcy Board of India (IBBI) which found the petitioner guilty of contravening several sections and regulations of the Insolvency and Bankruptcy Code (IBC) and related regulations.

## Facts

The petitioner is a qualified Chartered Accountant and registered with IBBI as an Insolvency Professional.

The petitioner was appointed as the Interim Resolution Professional (IRP) of Lanco by the NCLT, Hyderabad Bench, and later confirmed as Resolution Professional (RP).

During the CIRP of Lanco Infratech Limited, a resolution plan submitted by Thriveni Earthmovers Private Limited was placed before the Committee of Creditors (CoC), but was not approved.

The CoC passed a resolution seeking liquidation of Lanco, which was approved by the NCLT, Hyderabad.

The petitioner was appointed as the Liquidator of Lanco.

An Inspection Order was passed by an Assistant General Manager of the Respondent, directing an inspection of the assignments undertaken by the Petitioner.

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## Issues and analysis

### Issue 1: Whether the Disciplinary Committee (DC) of the IBBI was justified in imposing a penalty on the …

**Ratio:** The power to impose penalties is derived from Section 220 of the IBC, which allows the

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**Reasoning:** The DC concluded that the Petitioner had indeed contravened the provisions of the IBC and

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**Interpretation:** The interpretation of Section 220 of the IBC allows the DC to impose penalties,

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**Application:** The court held that the DC's order was justified as the Petitioner failed to

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## Parties

- **Judges:** Subramonium…
- **Appellants:** Savan God…
- **Respondents:** Lanco Infratech…; Shirpur Power…; +1 more
- **Other parties:** Kalabu…; Ms.Kalp…; +1 more
- **Advocates:** Sandeep…; Manmeet…; +5 more

## Timeline

- **2017-09-07 — Appointment…**: The Petitioner was appointed as the Interim Resolution Professional ('IRP”) of Lanco by…
- **2018-08-27 — Work Orde…**: The Petitioner appointed DTTILLP vide Work Order dated 28.08.2018 ‘to assist him in…

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