https://www.taxtmi.com/caselaws?id=310473 The Tribunal dismissed the appeal challenging the lower Tribunal's order, which rejected an application under Section 70 of the Insolvency and Bankruptcy Code, 2016, due to lack of jurisdiction. The Tribunal upheld the decision that the Resolution Professional (RP) cannot initiate prosecution under Section 70, as this authority is reserved for entities like the Insolvency and Bankruptcy Board of India (IBBI) or the Central Government. The RP was permitted to file an appropriate application with the IBBI if deemed necessary. en-us Fri, 09 Sep 2022 00:00:00 +0530 Fri, 27 Oct 2023 09:46:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310473 The Tribunal dismissed the appeal challenging the lower Tribunal's order, which rejected an application under Section 70 of the Insolvency and Bankruptcy Code, 2016, due to lack of jurisdiction. The Tribunal upheld the decision that the Resolution Professional (RP) cannot initiate prosecution under Section 70, as this authority is reserved for entities like the Insolvency and Bankruptcy Board of India (IBBI) or the Central Government. The RP was permitted to file an appropriate application with the IBBI if deemed necessary. Case-Laws Insolvency and Bankruptcy Fri, 09 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310473