Petitioner's registration as an Insolvency Professional suspended for one year by DC. Engaged brother's...

The petitioner's registration as an Insolvency Professional was suspended for one year by the Disciplinary Committee due to violations of the Insolvency and Bankruptcy Code. The violations included engaging a related party, specifically the petitioner's brother's firm, without proper disclosure to the Committee of Creditors, breaching Section 28(1)(f) of the IBC. Additionally, the petitioner submitted a valuation report without obtaining approval or ratification from the Committee of Creditors, violating Regulation 34 of the CIRP Regulations. The suspension was upheld based on these two valid grounds, and the High Court disposed of the application. .....

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