2022 (2) TMI 670

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.... Kumar B., Member (T) For the Appellant : Gaurav Kumar, PCS For the Respondents : P.H. Arvindh Pandian, Senior Advocate and A.G. Sathyanarayana, Advocate ORDER S. Ramathilagam, J. (Member (J)) 1. The above application has been preferred by Veeral Controls Private Limited under Section 27 r/w. Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as "IBC,....

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....s further submitted that prior to the initiation of CIRP, the Corporate Debtor had filed an Arbitration Suit against the Applicant for infringement of Intellectual Property Rights, which is pending before the court and in the meanwhile, the CIRP was initiated against the Corporate Debtor. Pursuant to that the Applicant filed a claim before RP who had accepted the claim, however, the RP has filed a....

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....peal No. 1 of 2019. Thereafter, vide order dated 21.03.2019, the stay was extended until further orders and these developments were recorded by this Tribunal in daily orders dated 08.04.2019 and 30.12.2019 in MA/96/2019. Further, it was submitted that the RP has neither made any contempt in any court proceedings nor is disqualified to be appointed as Resolution Professional and RP has valid Author....

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....t this Adjudicating Authority cannot enforce disciplinary proceedings against the IRP/RP and only IBBI would be the competent authority to initiate disciplinary proceedings against the IRP/RP. 7. Further, Section 217 of the IBC empowers a person aggrieved by the functioning of an RP to file a complaint to the IBBI. If the IBBI believes on the receipt of the complaint that any RP has contravened....