Pooja Menghani filed a writ petition challenging the order dated 02.05.2022 passed by the Insolvency and Bankruptcy Board of India (IBBI) rejecting her application for registration as a Resolution Professional. The rejection was based on allegations of violating SEBI regulations in 2003, leading to penalties and legal proceedings that reached the Supreme Court. Despite paying the penalty, IBBI deemed her unfit due to the serious nature of the allegations and the important role of an Insolvency Professional.
Pooja Menghani, a banker by profession, applied to be registered as an Insolvency Professional under the Insolvency and Bankruptcy Code, 2016 (IBC) with the Insolvency and Bankruptcy Board of India (IBBI). Her application was rejected by the IBBI on 02.05.2022 on the grounds that she was not a fit and proper person to be appointed as an Insolvency Professional. This rejection stemmed from allegations of violating Regulation 3(a), 3(b), 3(c), 3(d), and 4(1) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003. Specifically, it was alleged that she engaged in front running by buying and selling equal quantities of shares in large volumes in four scrips with prior knowledge of pending buy orders. A penalty of
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Allegations against the Petitioner for…
Petitioner filed Civil…
Pooja Menghani filed a writ petition challenging the order dated 02.05.2022 passed by the Insolvency and Bankruptcy Board of India (IBBI) rejecting her application for registration as a Resolution Professional. The rejection was based on allegations of violating SEBI regulations in 2003, leading to penalties and legal proceedings that reached the Supreme Court. Despite paying the penalty, IBBI deemed her unfit due to the serious nature of the allegations and the important role of an Insolvency Professional.
Pooja Menghani, a banker by profession, applied to be registered as an Insolvency Professional under the Insolvency and Bankruptcy Code, 2016 (IBC) with the Insolvency and Bankruptcy Board of India (IBBI). Her application was rejected by the IBBI on 02.05.2022 on the grounds that she was not a fit and proper person to be appointed as an Insolvency Professional. This rejection stemmed from allegations of violating Regulation 3(a), 3(b), 3(c), 3(d), and 4(1) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003. Specifically, it was alleged that she engaged in front running by buying and selling equal quantities of shares in large volumes in four scrips with prior knowledge of pending buy orders. A penalty of
…Allegations against the Petitioner for…
Petitioner filed Civil…