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IBC - Highlights / Catch Notes

Home Highlights July 2020 Year 2020 This

Disciplinary proceedings against the IP - Contravention of ...


Insolvency Professional Faces Six-Month Suspension, Ordered to Reimburse Rs. 73,87,642 for IRPC Misallocation.

July 14, 2020

Case Laws     Insolvency and Bankruptcy     Board

Disciplinary proceedings against the IP - Contravention of provisions of the Code, Regulations, and directions issued thereunder by IP - The registration as an Insolvency Professional suspended for six months - The DC hereby directs the IP to secure reimbursement of an amount of ₹ 73,87,642/- which was paid to lender"s legal counsel (SAM) and charged to IRPC.

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