SANDEEP KUMAR BHATT vs INSOLVENCY AND BANKRUPTCY BOARD OF INDIA & ORS. & ORS.

Judgment text excerpt

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on: 21.03.2025 Judgment delivered on: 03.04.2025 + LPA 1054/2024, CM APPL. 61894/2024 & CM APPL.1284/2025 SANDEEP KUMAR BHATT ...Appellant versus INSOLVENCY & BANKRUPTCY BOARD OF INDIA & ORS ....Respondents Advocates who appeared in this case: For the Appellant : Mr. Mohit Nandwani, Advocate with CMA Kamal Deep Tyagi. For the Respondents : Ms. Amrita Singh and Mr. Ankit Gupta, Advocates for R-1. CORAM: HON'BLE THE CHIEF JUSTICE HON'BLE MR. JUSTICE TUSHAR RAO GEDELA JUDGMENT TUSHAR RAO GEDELA, J. 1. Present letters patent appeal has been filed assailing the judgement dated 27.08.2024 passed by the learned Single in W.P.(C) 15588/2023 titled Sandeep Kumar Bhatt vs. Insolvency and Bankruptcy Board of India & Ors., whereby the learned Single Judge dismissed the writ petition by holding that the Insolvency and Bankruptcy Board of India had duly adhered to the procedure before passing the order of suspension against the appellant. Signature Not Verified Digitally Signed LPA 1054/2024 Page 1 of 20 By:VINOD KUMAR Signing Date:03.04.2025 14:33:02 FACTS OF THE CASE:- 2. It is the case of the appellant that the appellant got registered with the respondent no.1/Insolvency and Bankruptcy Board of India (hereinafter referred to as “IBBI”) as the Insolvency Professional on 02.06.2017. On 03.08.2017, the National Company Law Tribunal (hereinafter referred to as “NCLT/Adjudicating Authority”) admitted an application under section 9 of the Insolvency & Bankruptcy Code, 2016 (hereinafter referred to as “IBC”) filed by PR International initiating Corporate Insolvency Resolution Process (hereinafter referred to as “CIRP”) against GTHS Retails Pvt. Ltd (Corporate Debtor). 3. It is further stated that the appellant was appointed as