Bombay High Court sets aside order of IBBI Disciplinary Committee passed against Mr. Partha Sarathy Sarkar, Insolvency Professional – Partha Sarathy Sarkar Vs. Insolvency & Bankrupcy Board of India (IBBI) & Ors. – Bombay High Court
July 22, 2023
Vide the impugned order, IBBI Disciplinary Committee suspended the registration of Mr. Partha Sarathy Sarkar as Insolvency Professional for a period of three years. In this case, the main grievance against the impugned order was that there was violation of principles of natural justice as well as a complete non application of mind on the part of the Disciplinary Committee in passing the impugned order. Hon’ble High Court, after going through the impugned order, found that there is much substance in the contentions canvassed by Mr. Pratik Sarkar. The Court, considering the stand taken by the IBBI, has directed that the impugned order is hereby quashed and set aside. The Disciplinary Committee of the IBBI shall give a fresh notice for hearing to the Petitioner. Once the notice is given, the Disciplinary Committee shall hear the Petitioner and thereafter pass an appropriate order.