# Sunilkumar Agarwal S/o. Kishan Lal Agarwal Vs. Insolvency and Bankruptcy Board of India (IBBI),R/SCA-24566 of 2022

> HC judgment dated 2022-12-02. Citation: TCN-2022-HC-00011. The case involves a challenge to an order dated 2022-11-21 passed by the Insolvency & Bankruptcy…

- **Court:** HC
- **Order date:** 2 Dec 2022
- **Citation:** TCN-2022-HC-00011
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/sunilkumar-agarwal-so-kishan-lal-agarwal-vs-insolvency-and-bankruptcy-board-of-i-730369c3

## Summary

### Background

The case involves a challenge to an order dated 2022-11-21 passed by the Insolvency & Bankruptcy Board of India (IBBI) Disciplinary Committee. The petitioner, acting as an Interim Resolution Professional (IRP), was issued show cause notices during a corporate insolvency resolution process for Brain Master's Classes Private Limited and Eagle Corporation Private Limited. The IBBI found the petitioner had committed a lapse in the conduct of the CIRP, specifically failing to file a necessary application for approving a resolution plan or liquidation of the corporate debtor within the stipulated 180-day period as per Sec.12 of the IBC. The IBBI noted that the period for the process in the case of Brain Master's Classes Private Limited expired on 2020-03-10.

## Facts

The petitioner, Sunil Kumar Agarwal, was acting as an Interim Resolution Professional (IRP) in the corporate insolvency resolution process (CIRP) of Brain Master's Classes Private Limited and Eagle Corporation Private Limited. The Insolvency and Bankruptcy Board of India (IBBI) Disciplinary Committee issued an order dated 2022-11-21 against the petitioner, alleging a lapse in the conduct of the CIRP. The IBBI claimed that the petitioner failed to file a necessary application for approving the resolution plan or liquidation of the corporate debtor within the 180-day period stipulated by Sec.12 of the IBC. The period for the CIRP in the case of Brain Master's Classes Private Limited expired on 2020-03-10. The petitioner contended that the responsibility for calling a

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## Issues and analysis

### Issue 1: Whether the Insolvency and Bankruptcy Board of India (IBBI) Disciplinary Committee's order dated …

**Ratio:** The ratio is based on the interpretation of Section 12 of the Insolvency and Bankruptcy

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**Reasoning:** The court reasoned that the IBBI's order might not be justified because the petitioner

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**Interpretation:** The interpretation involves understanding the division of responsibilities

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**Application:** The court applied the ratio and reasoning to the specific facts of the case.

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## Parties

- **Judges:** BIREN VAI…
- **Appellants:** SUNILKUMAR…; Sunil Kumar…
- **Respondents:** Brain Master's…; INSOLVENCY AND…
- **Other parties:** Kohi…

## Timeline

- **2020-03-10 — Expiry of CIR…**: The period for the corporate insolvency resolution process (CIRP) in the case of Brain…
- **2020-01-31 — Initial Request for COC…**: The petitioner made an initial request to conduct a meeting of the Committee of Creditors…

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