Insolvency Professional registration eligibility must be assessed on the full record, with fresh consideration ordered.

An application for registration as an Insolvency Professional was rejected on the ground that consultancy and valuation work did not amount to the managerial experience required under the governing regulations. The HC held that the authority had to assess the nature of the applicant's professional and managerial experience against the eligibility criteria, including the material placed on comparable experience and the claimed examination and pre-registration course. Because the existing record was insufficient for a final conclusion, the rejection was set aside and the matter remanded for fresh consideration. The authority was directed to permit additional documents and pass a reasoned speaking order on eligibility.

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Issues: Whether the rejection of the petitioner's application for registration as an Insolvency Professional on the ground of absence of managerial experience was sustainable, and whether the matter required fresh consideration by the authority.

Analysis: The application for registration had been rejected because the petitioner was engaged in consultancy and valuation work and was not treated as having the requisite managerial experience. The governing regulations recognize eligibility of individuals with specified professional and management experience, and the authority was required to examine the nature of the petitioner's experience in the light of those criteria. The record also showed reliance on comparable experience material and on the petitioner's claim of having undergone the prescribed examination and pre-registration course. In these circumstances, the controversy called for reconsideration on a fuller factual and documentary basis rather than a final rejection on the existing material.

Conclusion: The rejection order was set aside and the matter was remanded for fresh decision on the petitioner's eligibility, after permitting additional documents and requiring a reasoned and speaking order.

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