# In the matter of Vivek Raheja vs. Insolvency and Bankruptcy Board of India

> HC judgment dated 2024-08-07. Citation: TCN-2024-HC-00052. The case involves a petition filed by Vivek Raheja against the Insolvency and Bankruptcy Board of…

- **Court:** HC
- **Order date:** 7 Aug 2024
- **Citation:** TCN-2024-HC-00052
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/vivek-raheja-vs-insolvency-and-bankruptcy-board-of-india-802ea3e3

## Summary

### Background

The case involves a petition filed by Vivek Raheja against the Insolvency and Bankruptcy Board of India (IBBI) challenging an order dated January 12, 2024, passed by the IBBI's Disciplinary Committee. The order found the petitioner, an Insolvency Professional, in contravention of the Insolvency and Bankruptcy Code, 2016, and its regulations. The allegations relate to the Corporate Insolvency Resolution Process (CIRP) of Trading Engineers (International) Limited. The petitioner's registration has been suspended for two years as a consequence of the impugned order.

## Facts

Vivek Raheja, an Insolvency Professional, was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) for the Corporate Insolvency Resolution Process (CIRP) of Trading Engineers (International) Limited. Complaints were filed by ex-employees of the Corporate Debtor, leading to the issuance of a Show Cause Notice (SCN) by the IBBI. The Disciplinary Committee of IBBI initially closed the proceedings. However, further allegations led to a fresh investigation and a second SCN. The second SCN alleged that the petitioner suppressed relevant facts from the Committee of Creditors (CoC), particularly regarding the eligibility of Mr. Sushant Chabbra as a Joint Resolution Applicant. Mr. Chabbra was a former director of the

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## Issues and analysis

### Issue 1: Whether the second Show Cause Notice (SCN) issued by the IBBI was based on the same cause of action …

**Ratio:** The principle of res judicata prevents a matter that has been adjudicated upon from being

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**Reasoning:** The court found that the second SCN was based on different issues than the first SCN,

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**Interpretation:** Res judicata applies when the cause of action and the parties are the same in

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**Application:** The court determined that the second SCN was based on new information not

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## Parties

- **Judges:** Sanjeev N…
- **Appellants:** Vivek R…
- **Respondents:** Trading Engineers…; Insolvency and…
- **Other parties:** Kohi…

## Timeline

- **2019-07-04 — CIRP Init…**: CIRP of the Corporate…
- **2024-01-12 — Impugned…**: Order passed by the IBBI's Disciplinary Committee suspending the petitioner's…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 11 — Persons not entitled to make application](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-11)

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