Suspension of Resolution Professional reduced as conclusions based on erroneous figures

Sandeep Kumar Bhatt Vs Insolvency & Bankruptcy Board Of India & Ors (Delhi High Court)

Delhi High Court held that suspension of resolution professional for two years from taking any assignment as IRP is reduced since conclusions were based on erroneous figures. Accordingly, writ disposed of.

Facts- The appellant got registered with the respondent no.1/Insolvency and Bankruptcy Board of India as the Insolvency Professional on 02.06.2017. On 03.08.2017, the National Company Law Tribunal admitted an application u/s. 9 of the Insolvency & Bankruptcy

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