https://www.taxtmi.com/caselaws?id=396124 The case involved delays in public announcements during the voluntary liquidation processes of two companies and the engagement of Deloitte Haskins & Sells as auditors, despite prior affiliation. The liquidator admitted to the delays in making public announcements and justified the appointment of Deloitte Haskins & Sells based on trust and group affiliation. The Disciplinary Committee found the liquidator's actions negligent and in contravention of various sections of the Insolvency and Bankruptcy Code and regulations. As a result, a monetary penalty of Rs. 1,00,000 was imposed on the liquidator, and he was barred from accepting new assignments as an Insolvency Professional until the penalty is paid. en-us Fri, 20 Mar 2020 00:00:00 +0530 Mon, 22 Jun 2020 06:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396124 The case involved delays in public announcements during the voluntary liquidation processes of two companies and the engagement of Deloitte Haskins & Sells as auditors, despite prior affiliation. The liquidator admitted to the delays in making public announcements and justified the appointment of Deloitte Haskins & Sells based on trust and group affiliation. The Disciplinary Committee found the liquidator's actions negligent and in contravention of various sections of the Insolvency and Bankruptcy Code and regulations. As a result, a monetary penalty of Rs. 1,00,000 was imposed on the liquidator, and he was barred from accepting new assignments as an Insolvency Professional until the penalty is paid. Case-Laws Insolvency and Bankruptcy Fri, 20 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396124