# In the matter of Savan Godiawala vs. Insolvency and Bankruptcy Board of India

> HC judgment dated 2024-01-11. Citation: TCN-2024-HC-00134. The petitioner challenged an order dated 18.08.2022 passed by the Disciplinary Committee of the…

- **Court:** HC
- **Order date:** 11 Jan 2024
- **Citation:** TCN-2024-HC-00134
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/savan-godiawala-vs-insolvency-and-bankruptcy-board-of-india-7e2859d9

## Summary

### Background

The petitioner challenged an order dated 18.08.2022 passed by the Disciplinary Committee of the Insolvency and Bankruptcy Board of India (IBBI). The corporate insolvency resolution process (CIRP) for Lanco Infra Tech Limited commenced on 07.08.2017. The petitioner was appointed as the Interim Resolution Professional (IRP) and later as the liquidator. Disciplinary proceedings were initiated against the petitioner for allegedly contravening provisions of the IBC and related regulations. An inspection was conducted, and a show-cause notice was issued to the petitioner, who replied to it. The IBBI then passed the impugned order.

## Facts

The petitioner, Savan Godiawala, challenged an order passed by the Disciplinary Committee of the Insolvency and Bankruptcy Board of India (IBBI). The Corporate Insolvency Resolution Process (CIRP) of Lanco Infra Tech Limited commenced on 07.08.2017. The petitioner was appointed as the Interim Resolution Professional (IRP) and later as the liquidator of Lanco. The petitioner was also appointed as the IRP of Shirpur Power Private Limited on 04.03.2020. Disciplinary proceedings were initiated against the petitioner for allegedly contravening provisions of the Insolvency and Bankruptcy Code (IBC) and related regulations. A show-cause notice was issued to the petitioner, who replied to it. The petitioner argued that Regulation 12(5) of the IBBI (Inspection and

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## Issues and analysis

### Issue 1: Whether Regulation 12(5) of the 2017 Regulations mandates that the show-cause notice shall enclose …

**Ratio:** The court did not explicitly rule on whether

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**Reasoning:** The court observed that the show-cause notice did not contain the extracts of relevant

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**Interpretation:** Regulation 12(5) of the 2017 Regulations requires that the show-cause notice

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**Application:** The court found that the show-cause notice did not contain the extracts of

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## Parties

- **Judges:** Subramonium…
- **Appellants:** Savan God…
- **Respondents:** Lanco Infra Tech…; Insolvency and…
- **Other parties:** Kohi…

## Timeline

- **2022-08-18 — Order by Disciplinary…**: Order passed by the Disciplinary Committee of the Insolvency and Bankruptcy Board of…
- **2017-08-07 — Commencement…**: Corporate Insolvency Resolution Process (CIRP)…

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