The case involves writ petitions filed under Article 226 of the Constitution of India, challenging orders passed by the Insolvency and Bankruptcy Board of India (IBBI) and the IIIPA/ICAI. The petitioner, CA.V.Venkata Siva Kumar, is aggrieved by an order directing him to pay a penalty for allegedly violating Regulation 7A of the IP Regulations, which requires an Insolvency Professional to procure a valid AFA before undertaking any assignment after 31.12.2019. The petitioner also challenges an order barring him from accepting assignments for the whole year 01.01.2020 to 31.12.2020.
CA.V.Venkata Siva Kumar filed writ petitions challenging orders passed by the Insolvency and Bankruptcy Board of India (IBBI) and the IIIPA/ICAI. The IBBI order, dated 17th December 2020, directed the petitioner to pay a penalty of Rs.10,000 for allegedly violating Regulation 7A of the IP Regulations. The IIIPA/ICAI order, dated 01.12.2020, barred the petitioner from accepting assignments for the entire year of 2020. The petitioner claims to have complied with the IP regulations and paid the required fees. The court considered the petitioner's arguments and the documents presented and granted an interim injunction restraining coercive action against the petitioner.
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The 1st Respondent, IBBI, passed order No.IBBI/…
The 2nd Respondent, IIIPA/ICAI, passed order…
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The case involves writ petitions filed under Article 226 of the Constitution of India, challenging orders passed by the Insolvency and Bankruptcy Board of India (IBBI) and the IIIPA/ICAI. The petitioner, CA.V.Venkata Siva Kumar, is aggrieved by an order directing him to pay a penalty for allegedly violating Regulation 7A of the IP Regulations, which requires an Insolvency Professional to procure a valid AFA before undertaking any assignment after 31.12.2019. The petitioner also challenges an order barring him from accepting assignments for the whole year 01.01.2020 to 31.12.2020.
CA.V.Venkata Siva Kumar filed writ petitions challenging orders passed by the Insolvency and Bankruptcy Board of India (IBBI) and the IIIPA/ICAI. The IBBI order, dated 17th December 2020, directed the petitioner to pay a penalty of Rs.10,000 for allegedly violating Regulation 7A of the IP Regulations. The IIIPA/ICAI order, dated 01.12.2020, barred the petitioner from accepting assignments for the entire year of 2020. The petitioner claims to have complied with the IP regulations and paid the required fees. The court considered the petitioner's arguments and the documents presented and granted an interim injunction restraining coercive action against the petitioner.
The 1st Respondent, IBBI, passed order No.IBBI/…
The 2nd Respondent, IIIPA/ICAI, passed order…
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