# In the matter of Partha Sarathy Sarkar vs. Insolvency & Bankruptcy Board of India (IBBI) & Ors.

> HC judgment dated 2023-07-18. Citation: TCN-2023-HC-00050. The Writ Petition No.1365 of 2023 was filed impugning an order passed by the Disciplinary Committee…

- **Court:** HC
- **Order date:** 18 Jul 2023
- **Citation:** TCN-2023-HC-00050
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/partha-sarathy-sarkar-vs-insolvency-bankruptcy-board-of-india-8bd5f218

## Summary

### Background

The Writ Petition No.1365 of 2023 was filed impugning an order passed by the Disciplinary Committee appointed by the Insolvency and Bankruptcy Board of India (IBBI) dated June 24, 2022. The petitioner's main grievance was that the impugned order violated principles of natural justice and showed a complete non-application of mind by the Disciplinary Committee. The petitioner also argued that the punishment awarded was excessive and not commensurate with the alleged violations.

## Facts

Partha Sarathy Sarkar filed a writ petition challenging an order by the Disciplinary Committee of the Insolvency and Bankruptcy Board of India (IBBI) dated June 24, 2022. The petitioner argued that the order violated natural justice principles and demonstrated a lack of due diligence by the Disciplinary Committee. Specifically, the petitioner contended that the punishment was excessive and disproportionate to the alleged violations. The petitioner claimed he couldn't appoint registered valuers because the Corporate Debtor's assets were untraceable, and the Committee of Creditors (CoC) refused to cover CIRP costs. He argued that the Insolvency and Bankruptcy Code (IBC) doesn't require the Interim Resolution Professional (IRP)/Resolution Professional (RP) to personally

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## Issues and analysis

### Issue 1: Whether the order passed by the Disciplinary Committee of the IBBI violated the principles of …

**Ratio:** The principles of natural justice require that a party be given a fair hearing and that

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**Reasoning:** The court found substance in the petitioner's argument that the Disciplinary Committee

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**Interpretation:** The interpretation of natural justice requires that all parties are given a

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**Application:** The court applied this principle to the facts by considering the petitioner's

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## Parties

- **Judges:** B. P. COLAB…; M.M. SA…
- **Appellants:** Partha Sarathy…
- **Respondents:** Insolvency &…
- **Other parties:** Kohi…

## Timeline

- **2022-06-24 — Order Passed by…**: The Disciplinary Committee appointed by the Insolvency and Bankruptcy Board of India…
- **2023-07-18 — Court Hearing…**: The High Court heard the Writ Petition and directed that the impugned order be quashed…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 25 — Duties of resolution professional](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-25)

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