In the matter of CA V.Venkata Sivakumar Vs. IBBI & Ors., W.P.No.13229 of 2020


Quick Summary
This case involves a challenge by CA V.Venkata Sivakumar to the constitutional validity of Regulation 7A of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016. This regulation, along with Bye-Law 12A of the Model Bye-Laws IPA Regulations, was introduced by notification on 23rd July 2019. The petitioner, a practising chartered accountant and registered insolvency professional, argued that these regulations were an improper exercise of discretion, inconsistent with the statute's purpose, and violated constitutional articles.

Court :
IBBI

Brief :
In this writ petition, the Petitioner challenges the constitutional validity of Regulation 7A of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 (the IP Regulations) read with Bye-Law 12A of the Insolvency and Bankruptcy Board of India (IBBI) (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016 (Model Bye-Laws IPA Regulations).

Citation :
W.P.No.13229 of 2020

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