https://www.taxtmi.com/caselaws?id=757151 Delhi HC dismissed petition challenging IBBI disciplinary action against Resolution Professional. Court held that second show cause notice was based on new information regarding cancelled MSME certificate and non-disclosure of avoidance application, thus res judicata principles did not apply. Resolution Professional failed to conduct proper due diligence regarding joint resolution applicant's eligibility under Section 29A of Insolvency Code, who was suspended director of corporate debtor. Court found no grounds to interfere with IBBI's determination of professional misconduct. en-us Wed, 07 Aug 2024 00:00:00 +0530 Sat, 17 Aug 2024 08:01:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757151 Delhi HC dismissed petition challenging IBBI disciplinary action against Resolution Professional. Court held that second show cause notice was based on new information regarding cancelled MSME certificate and non-disclosure of avoidance application, thus res judicata principles did not apply. Resolution Professional failed to conduct proper due diligence regarding joint resolution applicant's eligibility under Section 29A of Insolvency Code, who was suspended director of corporate debtor. Court found no grounds to interfere with IBBI's determination of professional misconduct. Case-Laws Insolvency and Bankruptcy Wed, 07 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757151