NCLT Chennai Bench directs IBBI to share the database of IPs including the details about the disciplinary proceeding, if any which is pending against them, for effective adjudication of matters listed under Section 95 of IBC, 2016 – M/s. Tata Capital Financial Services Limited Vs. G. Ramakrishna Reddy – NCLT Chennai Bench
Rule 8 of the AAIRPPG Rules, 2019 states that the Board may share a database of the Insolvency Professionals, including the information about the disciplinary proceedings against them with the Adjudicating Authority from time to time. However, upon enquiry from the Registry of this Tribunal, it was found that no such database including in relation to disciplinary proceedings, if any, of the insolvency professionals is being shared to the Chennai Bench of NCLT by the Board under the relevant Rules as above. Hence, in this regard, we hereby direct the IBBI also to share the database of the insolvency professionals including the details about the disciplinary proceeding, if any which is pending against them, for effective adjudication of matters listed under Section 95 of IBC, 2016.