https://www.taxtmi.com/caselaws?id=758266 Delhi HC dismissed petition challenging IBBI's two-year suspension of insolvency professional's registration. Court held single-member disciplinary committee was legally valid and IBBI need not await adjudicating authority proceedings before conducting inquiry. Petitioner failed to preserve corporate debtor's assets, didn't transfer complete records to liquidator, and allowed suspended directors to transfer funds, violating IBC provisions. Court applied limited judicial review scope in technical commercial matters, finding IBBI followed due procedure and no arbitrariness established. en-us Tue, 27 Aug 2024 00:00:00 +0530 Tue, 10 Sep 2024 15:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758266 Delhi HC dismissed petition challenging IBBI's two-year suspension of insolvency professional's registration. Court held single-member disciplinary committee was legally valid and IBBI need not await adjudicating authority proceedings before conducting inquiry. Petitioner failed to preserve corporate debtor's assets, didn't transfer complete records to liquidator, and allowed suspended directors to transfer funds, violating IBC provisions. Court applied limited judicial review scope in technical commercial matters, finding IBBI followed due procedure and no arbitrariness established. Case-Laws IBC Tue, 27 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758266