# In the matter of Sandeep Kumar Bhatt vs. Insolvency and Bankruptcy Board of India & Ors.

> HC judgment dated 2024-08-27. Citation: TCN-2024-HC-00042. The petitioner, Sandeep Kumar Bhatt, approached the High Court of Delhi challenging an order dated…

- **Court:** HC
- **Order date:** 27 Aug 2024
- **Citation:** TCN-2024-HC-00042
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/sandeep-kumar-bhatt-vs-insolvency-and-bankruptcy-board-of-india-ors-3bb9e9ee

## Summary

### Background

The petitioner, Sandeep Kumar Bhatt, approached the High Court of Delhi challenging an order dated 01.11.2023 passed by the Disciplinary Committee of the Insolvency and Bankruptcy Board of India (IBBI). The IBBI order suspended the petitioner's registration as an Insolvency Professional for two years due to alleged violations of the Insolvency and Bankruptcy Code (IBC) and related regulations. The case stems from the petitioner's role as an Interim Resolution Professional (IRP) and later as a Resolution Professional in the Corporate Insolvency Resolution Process (CIRP) of GTHS Retails Pvt. Limited. The IBBI initiated an investigation based on doubts raised by the Adjudicating Authority (NCLT) regarding the CIRP and liquidation proceedings.

## Facts

Sandeep Kumar Bhatt, the petitioner, was registered with IBBI as an Insolvency Professional on 02.06.2017. He was appointed as an Interim Resolution Professional (IRP) for GTHS Retails Pvt. Limited on 20.12.2017, and later confirmed as the Resolution Professional. The CIRP was initiated by PR International under Section 9 of the IBC. The CIRP period of 270 days expired, and the Resolution Applicant withdrew their offer, leading to liquidation proceedings. Mr. Ramit Rastogi was appointed as the Liquidator on 16.10.2019, and the petitioner was discharged. The Liquidator filed an application (IA/3719/2020) seeking directions from the Adjudicating Authority for the ex-Directors to furnish information, which was later withdrawn. The Liquidator filed IA No. 2276/2021 for

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## Issues and analysis

### Issue 1: Whether the IBBI's order suspending the petitioner's registration as an Insolvency Professional was …

**Ratio:** The scope of judicial review in matters of disciplinary proceedings is very limited.

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**Reasoning:** The court found that the IBBI had followed the due procedure and that the petitioner had

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**Interpretation:** The court interpreted Article 226 of the Constitution of India and relevant

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**Application:** The court applied the principle of limited judicial review to the facts of the

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## Parties

- **Judges:** Subramonium…
- **Appellants:** Sandeep Kumar…
- **Respondents:** GTHS Retails Pvt.…; Insolvency and…
- **Other parties:** Kohi…

## Timeline

- **2017-06-02 — Registration w…**: The Petitioner got registered with…
- **2017-08-03 — CIRP Admi…**: The National Company Law Tribunal admitted an application under Section 9 of the…

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