IP Regulations gives power to the IBBI to issue SCN based on findings of an inspection

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Last updated: 03 December 2020
Quick Summary
The Insolvency and Bankruptcy Board of India (IBBI) has issued a Show Cause Notice (SCN) to Mr. Sanjay Kumar Agarwal, an Insolvency Professional. This action was taken following an inspection and the registration of a First Information Report (FIR) by the CBI concerning allegations of demanding and accepting illegal gratification. The IBBI's Disciplinary Committee is now reviewing the SCN and Mr. Agarwal's responses.

Court :
IBBI

Brief :
This Order disposes of the Show Cause Notice (SCN) No. IBBI/IP/SCN/2020/01/173 dated 14th February 2020, issued to Mr. Sanjay Kumar Agarwal, Draupadi Mansion, 3rd Floor, 11 Brabourne Road, Kolkata, West Bengal- 700001 who is a Professional Member of the Indian Institute of Insolvency Professionals of ICAI and an Insolvency Professional registered with the Insolvency and Bankruptcy Board of India (IBBI) with Registration No. IBBI/IPA-001/IP-P00062/2017-18/10140.

Citation :
No. IBBI/DC/47/2020

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