https://www.taxtmi.com/caselaws?id=427195 The Tribunal held that the NCLT exceeded its jurisdiction by directing the IBBI to initiate or halt disciplinary proceedings against an Insolvency Professional. The Tribunal emphasized the exclusive authority of the IBBI to regulate and oversee the Insolvency Professionals, highlighting that the NCLT cannot interfere with the inspection and investigation processes initiated by the IBBI. The impugned orders of the NCLT were deemed unsustainable, and the Tribunal set them aside, emphasizing the limited powers of the NCLT under the IBC and the exclusive jurisdiction of the IBBI in regulating Insolvency Professionals. en-us Thu, 01 Sep 2022 00:00:00 +0530 Sat, 03 Sep 2022 07:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427195 The Tribunal held that the NCLT exceeded its jurisdiction by directing the IBBI to initiate or halt disciplinary proceedings against an Insolvency Professional. The Tribunal emphasized the exclusive authority of the IBBI to regulate and oversee the Insolvency Professionals, highlighting that the NCLT cannot interfere with the inspection and investigation processes initiated by the IBBI. The impugned orders of the NCLT were deemed unsustainable, and the Tribunal set them aside, emphasizing the limited powers of the NCLT under the IBC and the exclusive jurisdiction of the IBBI in regulating Insolvency Professionals. Case-Laws Insolvency and Bankruptcy Thu, 01 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427195