Pooja Menghani Vs Insolvency And Bankruptcy Board Of India (IBBI) & Anr. (Delhi High Court)
The recent case of Pooja Menghani vs. Insolvency and Bankruptcy Board of India (IBBI) & Anr. before the Delhi High Court sheds light on the application of the principle of res judicata in matters concerning insolvency professionals.
The crux of the case revolves around an appeal filed against the order of the learned Single Judge in W.P. (C) 8696/2022. The appellant contested the decision of the IBBI to reject her application for consideration as an Insolvency Professional (IP), citing her lack of being a “fit and proper person.” However, the Delhi High Court, in its judgment, upheld the decision of the IBBI, emphasizing that while the appellant may be eligible for consideration, the discretion lies with the IBBI to reject applications based on suitability criteria.
One of the significant arguments raised during the proceedings was the maintainability of the appeal itself. The respondent highlighted that the appellant had previously challenged the same impugned order before the Supreme Court via SLP (C) No(s). 4894/2024, which was subsequently withdrawn unconditionally. The Supreme Court’s order dismissing the SLP on 11th March 2024 further solidified the stance that the present appeal before the Delhi High Court is not maintainable due to the principle of constructive res judicata.
