The writ petition challenges an order dated 14.11.2019 passed by respondent no.1/IRBI. The order restricts the petitioner, Mahender Kumar Khandelwal, from accepting new assignments as an Interim Resolution Professional (IRP) or Resolution Professional (RP) until he deposits a monetary penalty of Rs. 29,24,167/- and provides evidence of a deposit of Rs. 12,09,90,185/- in the Corporate Debtor's account. The petitioner deposited Rs. 29,24,167/- with the Registry of the Court. The Committee of Creditors (COC) passed a resolution on 10.10.2018 regarding the payment of pending bills of Cyril Amarchand Mangaldas. The COC was directed to deposit Rs. 12,09,90,185/- with the Registry of the Court.
Mahender Kumar Khandelwal filed a writ petition challenging an order by the Insolvency and Bankruptcy Board of India (IBBI) that restricted him from accepting new assignments as an Interim Resolution Professional (IRP) or Resolution Professional (RP). The restriction was contingent upon him depositing a monetary penalty of Rs. 29,24,167 and providing evidence of a deposit of Rs. 12,09,90,185 in the Corporate Debtor's (M/s Bhushan Power and Steel Limited) account. The Committee of Creditors (COC) had previously passed a resolution regarding the payment of pending bills to Cyril Amarchand Mangaldas. The petitioner deposited Rs. 29,24,167 with the court registry. The COC was directed to deposit Rs. 12,09,90,185 with the court registry. The court stayed the operation of
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Committee of Creditors (COC) passed a…
Order passed by respondent no.1/IRBI…
The writ petition challenges an order dated 14.11.2019 passed by respondent no.1/IRBI. The order restricts the petitioner, Mahender Kumar Khandelwal, from accepting new assignments as an Interim Resolution Professional (IRP) or Resolution Professional (RP) until he deposits a monetary penalty of Rs. 29,24,167/- and provides evidence of a deposit of Rs. 12,09,90,185/- in the Corporate Debtor's account. The petitioner deposited Rs. 29,24,167/- with the Registry of the Court. The Committee of Creditors (COC) passed a resolution on 10.10.2018 regarding the payment of pending bills of Cyril Amarchand Mangaldas. The COC was directed to deposit Rs. 12,09,90,185/- with the Registry of the Court.
Mahender Kumar Khandelwal filed a writ petition challenging an order by the Insolvency and Bankruptcy Board of India (IBBI) that restricted him from accepting new assignments as an Interim Resolution Professional (IRP) or Resolution Professional (RP). The restriction was contingent upon him depositing a monetary penalty of Rs. 29,24,167 and providing evidence of a deposit of Rs. 12,09,90,185 in the Corporate Debtor's (M/s Bhushan Power and Steel Limited) account. The Committee of Creditors (COC) had previously passed a resolution regarding the payment of pending bills to Cyril Amarchand Mangaldas. The petitioner deposited Rs. 29,24,167 with the court registry. The COC was directed to deposit Rs. 12,09,90,185 with the court registry. The court stayed the operation of
…Committee of Creditors (COC) passed a…
Order passed by respondent no.1/IRBI…