Disciplinary Proceedings Initiated By IBBI Can't Be Quashed By NCLT, Rules NCLAT [Read Order]

National Company Law Appellate Tribunal has held in the case of IBBI v. Rishi Prakash Vats & Ors. that once a disciplinary proceeding is initiated by the Insolvency and Bankruptcy Board of India (IBBI) on the basis of evidence on record, it is for the Disciplinary Authority, i.e., IBBI to close the proceeding or pass appropriate orders in accordance with law. Such power having been...