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2022 (10) TMI 640 - MADHYA PRADESH HIGH COURTRejection of application for grant of Certificate of Registration as an Insolvency Professional (IP) under Regulation 7 of the Insolvency & Bankruptcy Board of India (Insolvency Professional) Regulations, 2016 - rejetection of application by Whole Time Member of Insolvency & Bankruptcy Board of India on the ground that the petitioner is self-employed and is running a Consultancy and Valuation business and does not have the managerial experience as a salaried employee. HELD THAT:- When the petitioner has already passed the Insolvency Professional Examination of IBBI and has already undergone 50 (fifty) hours Pre - registration Education Course as mandated by the IBBI under the Regulations, 2016, and claims to have managerial experience, this Court is of the considered opinion, that application needs to be decided afresh, if the petitioner also submits other documents on record to demonstrate that he was actually managing a team which also requires management expertise as provided under Regulation 5(3)(c)(iii)(b) or (c) and also possesses educational qualification as per the said Regulation. The impugned order dated 18.11.2021 (Annexure P/1) passed by respondent No.2 is hereby quashed and the matter is remanded back to the respondent Whole Time Member of Insolvency & Bankruptcy Board of India with a liberty to the petitioner to file additional documents within two weeks time as observed by this court, to demonstrate his eligibility to claim the IP certificate, and the concerned respondent is also directed to take decision on the petitioner’s application afresh - Petition disposed off.
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