The writ petition W.P.No.4458 of 2021 was filed challenging the order dated 17.12.2020 passed by the first respondent, confirming the order dated 01.12.2020 passed by the second respondent, which found the petitioner guilty and imposed a fine of Rs.10,000. The writ petition W.P.No.4463 of 2021 was filed seeking direction for the respondents to pay compensation of Rupees one crore to the petitioner. The petitioner was appointed as Liquidator of Jeypore Sugar Company Limited on 29.05.2020. The third respondent filed an application before the Tribunal seeking removal of the petitioner as Liquidator due to incomplete qualifications. The petitioner's application for authorization for assignment was rejected by IBBI on 14.01.2020. The Indian Institute of Insolvency
…CA V.Venkata Siva Kumar, the petitioner, was appointed as the Liquidator of Jeypore Sugar Company Limited on 29.05.2020. The petitioner submitted written consent in Form AA as per the requirements of the Insolvency and Bankruptcy Board of India (Insolvency Professional) Regulations, 2016. However, on the date of appointment, the petitioner did not possess valid Authorization for Assignment as per Regulation 7A of the IBBI Regulations. The petitioner had filed an application for authorization for assignment on 31.12.2019, which was rejected by the IBBI on 14.01.2020. The third respondent made inquiries into the qualifications of the petitioner to act as Liquidator. The Indian Institute of Insolvency Professionals of Institute Chartered Accountants of India's
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Petitioner filed an…
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The writ petition W.P.No.4458 of 2021 was filed challenging the order dated 17.12.2020 passed by the first respondent, confirming the order dated 01.12.2020 passed by the second respondent, which found the petitioner guilty and imposed a fine of Rs.10,000. The writ petition W.P.No.4463 of 2021 was filed seeking direction for the respondents to pay compensation of Rupees one crore to the petitioner. The petitioner was appointed as Liquidator of Jeypore Sugar Company Limited on 29.05.2020. The third respondent filed an application before the Tribunal seeking removal of the petitioner as Liquidator due to incomplete qualifications. The petitioner's application for authorization for assignment was rejected by IBBI on 14.01.2020. The Indian Institute of Insolvency
…CA V.Venkata Siva Kumar, the petitioner, was appointed as the Liquidator of Jeypore Sugar Company Limited on 29.05.2020. The petitioner submitted written consent in Form AA as per the requirements of the Insolvency and Bankruptcy Board of India (Insolvency Professional) Regulations, 2016. However, on the date of appointment, the petitioner did not possess valid Authorization for Assignment as per Regulation 7A of the IBBI Regulations. The petitioner had filed an application for authorization for assignment on 31.12.2019, which was rejected by the IBBI on 14.01.2020. The third respondent made inquiries into the qualifications of the petitioner to act as Liquidator. The Indian Institute of Insolvency Professionals of Institute Chartered Accountants of India's
…Petitioner filed an…
IBBI rejected the…