https://www.taxtmi.com/caselaws?id=445332 The Delhi HC dismissed a petition by an operational creditor seeking to restrain a liquidator from functioning, alleging misconduct in performance as an insolvency resolution professional. The court held that the Board is the regulatory authority for insolvency professionals, comprising government-appointed experts under IBC Part IV. Courts do not function as appellate authorities over expert decisions unless the administrative action is so unfair or unreasonable that no reasonable person would take such action. The court found the Board's decision-making process and final report neither perverse nor contrary to law, warranting no interference under Article 226. The enquiry process was deemed fair, reasonable, and transparent. en-us Fri, 03 Nov 2023 00:00:00 +0530 Mon, 06 Nov 2023 04:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445332 The Delhi HC dismissed a petition by an operational creditor seeking to restrain a liquidator from functioning, alleging misconduct in performance as an insolvency resolution professional. The court held that the Board is the regulatory authority for insolvency professionals, comprising government-appointed experts under IBC Part IV. Courts do not function as appellate authorities over expert decisions unless the administrative action is so unfair or unreasonable that no reasonable person would take such action. The court found the Board's decision-making process and final report neither perverse nor contrary to law, warranting no interference under Article 226. The enquiry process was deemed fair, reasonable, and transparent. Case-Laws Insolvency and Bankruptcy Fri, 03 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445332