2020 (9) TMI 514

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....ng the Respondent No.1 to initiate disciplinary proceedings thereby furnishing show cause notice to the Respondent No.2 under Regulation 11 of the IBBI (Insolvency Professionals) Regulations, 2016 read with Regulation 12 of the IBBI (Inspection and Investigation Regulation), 2017; b. Issue a Writ of Mandamus or any other Writ, Order or direction of similar nature directing the Respondent No.1 to provide the copy of the show cause notice to the Petitioners, thereby, allowing the Petitioners to participate in the disciplinary proceedings against the Respondent No.2; c. Issue a Writ of Mandamus or any other Writ, Order or directions of similar nature directing the Respondent No.1 to dispose off the complaint/representation fi....

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....t is found that the complainant is being informed about the status of the complaint by way of a cryptic order like in the present case reproduced hereinabove. In my opinion, this is not in compliance with the Regulations. Regulation 7 of the Regulations is reproduced hereinbelow: "7. Disposal of complaint. (1) The Board may seek additional information and records from the complainant and information and records from the concerned service provider to form a prima facie view whether the contravention alleged in the complaint is correct. (2) The complainant and the service provider shall submit the information and records sought under sub-regulation (1) within fifteen days thereof. (3) The Board shall for....

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....t it. In case the opinion is against the complainant, the complainant has a right under the Sub- Regulation 5 of Regulation 7 to seek a review on the said decision. Merely informing the petitioner as has been done in the present case thatappropriate action is being initiated in the matter, would not, therefore, satisfy the requirements of Regulation 7. The complainant was never informed whether respondent no.1 has formed an opinion in favour of the complainant or against him, on such complaint. 9. The respondent no.1 should therefore, in future keep the mandate of Regulation 7 in mind while sending such communications to the complainants. 10. As far as the present case is concerned, the respondent no.1 has already formed a prima facie....