Mr. Kunwer Sachdev filed a contempt case against the Insolvency and Bankruptcy Board of India (IBBI). The basis for the contempt case is the alleged wilful disobedience of the IBBI to a prior court order dated 2024-02-12, issued in W.P.(C) No. 10599/2023. The prior order directed the IBBI to frame/finalize the code of conduct/guidelines for the Committee of Creditors (CoC) within three months. As of the current proceedings, no action has been taken by the IBBI to comply with the order. Mr. Abhinav Singh, counsel for the IBBI, requested time to seek instructions. The court directed that copies of the contempt petition be provided to the IBBI and allowed the IBBI to file an affidavit within four weeks. The case was re-notified for 2024-09-25.

Mr. Kunwer Sachdev filed a contempt case against the Insolvency and Bankruptcy Board of India (IBBI). The basis for the contempt case is the alleged wilful disobedience of the IBBI to a prior court order dated 2024-02-12, issued in W.P.(C) No. 10599/2023. The prior order directed the IBBI to frame/finalize the code of conduct/guidelines for the Committee of Creditors (CoC) within three months. As of the current proceedings, no action has been taken by the IBBI to comply with the order. Mr. Abhinav Singh, counsel for the IBBI, requested time to seek instructions. The court directed that copies of the contempt petition be provided to the IBBI and allowed the IBBI to file an affidavit within four weeks. The case was re-notified for 2024-09-25.