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The HC granted mandamus directing the first respondent, the Insolvency and Bankruptcy Board of India, to adhere to the procedural requirements under the 2017 Grievance and Complaint Handling Procedure Regulations in considering the petitioner's complaints. The Board must ensure that the Disciplinary Committee follows the principles of natural justice, issues a reasoned order on any show cause notices, and applies Chapter V provisions on restitution where applicable. The court recognized that the matter involving the third respondent remains at a preliminary stage, prior to determination of a prima facie case for investigation. The Board was ordered to complete the complaint resolution process concerning the first respondent within three months from receipt of the order. The petition was accordingly closed.
The HC granted mandamus directing the first respondent, the Insolvency and Bankruptcy Board of India, to adhere to the procedural requirements under the 2017 Grievance and Complaint Handling Procedure Regulations in considering the petitioner's complaints. The Board must ensure that the Disciplinary Committee follows the principles of natural justice, issues a reasoned order on any show cause notices, and applies Chapter V provisions on restitution where applicable. The court recognized that the matter involving the third respondent remains at a preliminary stage, prior to determination of a prima facie case for investigation. The Board was ordered to complete the complaint resolution process concerning the first respondent within three months from receipt of the order. The petition was accordingly closed.
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