Mr. Subrata Monindranath Maity, a resolution professional, filed a petition seeking to set aside an order dated January 10, 2023, issued by the Insolvency and Bankruptcy Board of India (IBBI). The IBBI had suspended the Petitioner's registration as a resolution professional for one year. The suspension was based on contraventions observed by the DC regarding the Petitioner's conduct in relation to M/s. Bhatia Coke and Energy Limited and M/s. Guardian Homes Pvt. Ltd., specifically concerning the disclosure of material information related to a job work agreement and the negotiation of resolution plans. The court also noted a delay in uploading NCLT orders, especially those declaring moratoriums and appointing IRPs.
Mr. Subrata Monindranath Maity, a resolution professional, was appointed for M/s. Bhatia Coke and Energy Limited and M/s. Guardian Homes Pvt. Ltd. The IBBI suspended his registration for one year via an order dated January 10, 2023, citing contraventions of regulations. The IBBI's DC observed that Mr. Maity did not act according to the Code and Regulations, specifically by not disclosing material information regarding a job work agreement between CD-II and a member of the Resolution Applicant during resolution plan negotiations. The IBBI order also referenced SCN-2 No. IBBI/IP/INSP/2022/158. The Petitioner claims he did not engage in misconduct. The CBI has registered a case against the Petitioner. The court noted delays in uploading NCLT orders, specifically those
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The IBBI passed an order suspending the…
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Mr. Subrata Monindranath Maity, a resolution professional, filed a petition seeking to set aside an order dated January 10, 2023, issued by the Insolvency and Bankruptcy Board of India (IBBI). The IBBI had suspended the Petitioner's registration as a resolution professional for one year. The suspension was based on contraventions observed by the DC regarding the Petitioner's conduct in relation to M/s. Bhatia Coke and Energy Limited and M/s. Guardian Homes Pvt. Ltd., specifically concerning the disclosure of material information related to a job work agreement and the negotiation of resolution plans. The court also noted a delay in uploading NCLT orders, especially those declaring moratoriums and appointing IRPs.
Mr. Subrata Monindranath Maity, a resolution professional, was appointed for M/s. Bhatia Coke and Energy Limited and M/s. Guardian Homes Pvt. Ltd. The IBBI suspended his registration for one year via an order dated January 10, 2023, citing contraventions of regulations. The IBBI's DC observed that Mr. Maity did not act according to the Code and Regulations, specifically by not disclosing material information regarding a job work agreement between CD-II and a member of the Resolution Applicant during resolution plan negotiations. The IBBI order also referenced SCN-2 No. IBBI/IP/INSP/2022/158. The Petitioner claims he did not engage in misconduct. The CBI has registered a case against the Petitioner. The court noted delays in uploading NCLT orders, specifically those
…The IBBI passed an order suspending the…
An NCLT order was…
Sign in to view related legal provisions.