The Writ Petition challenges an order dated August 11, 2023, passed by the Disciplinary Committee of the Insolvency and Bankruptcy Board of India (IBBI). It also raises a constitutional challenge to Sections 7(5), 9(5), and other provisions of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016), alleging they are arbitrary, illegal, and ultra vires the Constitution of India.
Poonam Basak filed a Writ Petition challenging an order passed by the Disciplinary Committee of the IBBI. The petitioner also challenged the constitutional validity of Sections 7(5) and 9(5) of the IBC. The petitioner argued that the order was passed by the Chairperson of IBBI, who is not a Whole Time Member, and therefore lacked jurisdiction. The respondent, IBBI, argued that the Chairperson is a de-facto Whole Time Member. The court examined Section 189 and Section 220 of the IBC, as well as the IBBI's General Order, to determine whether the Chairperson could be considered a Whole Time Member. The court found that the Chairperson is a separate category from a Whole-Time Member and granted ad interim relief, staying the impugned order.
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Date of the order passed by the Disciplinary…
Date of the order…
The Writ Petition challenges an order dated August 11, 2023, passed by the Disciplinary Committee of the Insolvency and Bankruptcy Board of India (IBBI). It also raises a constitutional challenge to Sections 7(5), 9(5), and other provisions of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016), alleging they are arbitrary, illegal, and ultra vires the Constitution of India.
Poonam Basak filed a Writ Petition challenging an order passed by the Disciplinary Committee of the IBBI. The petitioner also challenged the constitutional validity of Sections 7(5) and 9(5) of the IBC. The petitioner argued that the order was passed by the Chairperson of IBBI, who is not a Whole Time Member, and therefore lacked jurisdiction. The respondent, IBBI, argued that the Chairperson is a de-facto Whole Time Member. The court examined Section 189 and Section 220 of the IBC, as well as the IBBI's General Order, to determine whether the Chairperson could be considered a Whole Time Member. The court found that the Chairperson is a separate category from a Whole-Time Member and granted ad interim relief, staying the impugned order.
Date of the order passed by the Disciplinary…
Date of the order…