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Insolvency and BankruptcySeptember 15, 2020Case LawsHC
Initiation of disciplinary proceedings - complaint against the IP by the petitioner - Regulation 7(3) of IBC - Merely informing the petitioner as has been done in the present case that appropriate action is being initiated in the matter, would not, therefore, satisfy the requirements of Regulation 7. The complainant was never informed whether respondent no.1 has formed an opinion in favour of the complainant or against him, on such complaint. - HC
Initiation of disciplinary proceedings - complaint against the IP by the petitioner - Regulation 7(3) of IBC - Merely informing the petitioner as has been done in the present case that appropriate action is being initiated in the matter, would not, therefore, satisfy the requirements of Regulation 7. The complainant was never informed whether respondent no.1 has formed an opinion in favour of the complainant or against him, on such complaint. - HC
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