The National Company Law Tribunal constituted a bench to discipline the Insolvency Professional for failing to appear in CIRP proceedings despite directions, and directed the IBBI to initiate disciplinary action.
Direction to IBBI to initiate disciplinary proceedings against the Insolvency Professional; case listed for later hearing.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH COURT III
CORAM: SHRI. H.V.SUBBA RAO, MEMBER (J)
SHRI CHANDRA BHAN SINGH, MEMBER (T)
ORDER SHEET OF THE HEARING OF MUMBAI BENCH OF THE NATIONAL COMPANY LAW TRIBUNAL ON 16.06.2022
NAME OF THE PARTIES: Viral Rajashi Mehta
V/s.
Neptune Ventures & Developers Pvt Ltd.
SECTION 9 OF INSOLVENCY AND BANKRUPTCY CODE, 2016
ORDER
In spite of direction to the RP Mr. Rajendra Indarchandra Jain to appear before this bench and appraise about the CIRP process which was commenced on 16.05.2018 he did not choose to appear. The conduct of the RP is highly reprehensible and contemptuous and accordingly the bench hereby directs IBBI to initiate appropriate disciplinary proceedings against the RP Mr. Rajendra Indarchand Jain, Email Id: [email protected], Mob : 09869081100, R/at, Flat No. B-601/701, Geetanjali, Kher Nagar, Bandra € Mumbai, Maharashtra- 400051, having registration No. IBBI/IPA-001/IPP00232/2017-18/0461 forthwith on receipt of this order.
The Registry is also hereby directed to communicate the above order to the chairman IBBI immediately.
List this main company petition on 10.08.2022.
Sd/CHANDRA BHAN SINGH Member (Technical) SKS
Sd/H.V.SUBBA RAO Member (Judicial)
1 issue framed by the court
Whether the Insolvency Professional appointed in Section 7 proceedings should face disciplinary action for non-attendance.
1 provisions across 1 enactments
Viral Rajashi Mehta
H.V. Subba Rao
Chandra Bhan Singh
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
