The petitioner, HNG Industries THOZHILALAR NALA SANGAM, filed a writ petition (W.P.(C) 3065/2025) in the High Court of Delhi at New Delhi, challenging a communication dated 30.01.2025 issued by the Insolvency and Bankruptcy Board of India (IBBI). The communication directed disciplinary proceedings against the Insolvency Professional (IP) under section 219 of the Insolvency and Bankruptcy Code, 2016, and suspended the Authorization for Assignment (AFA) issued to the IP.
HNG Industries THOZHILALAR NALA SANGAM filed a petition challenging a communication from the Insolvency and Bankruptcy Board of India (IBBI). The IBBI's communication, dated 30.01.2025, initiated disciplinary proceedings against an Insolvency Professional (IP) and suspended their Authorization for Assignment (AFA). The petitioner argued that the suspension of the AFA should not prevent the IP from continuing with existing assignments as a Resolution Professional (RP) in a Corporate Insolvency Resolution Process (CIRP). The petitioner cited the Bombay High Court's judgment in Kairav Anil Trivedi vs. IBBI & Ors. The IBBI clarified that the suspension only applied to new assignments. Based on this clarification, the petitioner withdrew the petition, which was then
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The Insolvency and Bankruptcy Board of India…
The High Court dismissed the petition as…
The petitioner, HNG Industries THOZHILALAR NALA SANGAM, filed a writ petition (W.P.(C) 3065/2025) in the High Court of Delhi at New Delhi, challenging a communication dated 30.01.2025 issued by the Insolvency and Bankruptcy Board of India (IBBI). The communication directed disciplinary proceedings against the Insolvency Professional (IP) under section 219 of the Insolvency and Bankruptcy Code, 2016, and suspended the Authorization for Assignment (AFA) issued to the IP.
HNG Industries THOZHILALAR NALA SANGAM filed a petition challenging a communication from the Insolvency and Bankruptcy Board of India (IBBI). The IBBI's communication, dated 30.01.2025, initiated disciplinary proceedings against an Insolvency Professional (IP) and suspended their Authorization for Assignment (AFA). The petitioner argued that the suspension of the AFA should not prevent the IP from continuing with existing assignments as a Resolution Professional (RP) in a Corporate Insolvency Resolution Process (CIRP). The petitioner cited the Bombay High Court's judgment in Kairav Anil Trivedi vs. IBBI & Ors. The IBBI clarified that the suspension only applied to new assignments. Based on this clarification, the petitioner withdrew the petition, which was then
…The Insolvency and Bankruptcy Board of India…
The High Court dismissed the petition as…