Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + HC Insolvency and Bankruptcy - 2023 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (11) TMI 223 - HC - Insolvency and BankruptcyCIRP - Liquidation proceedings initiated - Right of the Operational Creditor (Petitioner) - Petitioner alleged Misconduct in the performance as an Insolvency Resolution Professional - seeking appropriate direction restraining Respondent No. 3 (now Respondent No. 2) from functioning as a Liquidator of the Corporate Debtor - HELD THAT:- Respondent No. 1/Board is the authority to regulate the functioning of the Insolvency Professionals and the Board comprises of experts in the field who have been appointed by the Central Government to carry out the functions specified under Part IV of the IBC. It is well settled that Courts do not sit as an Appellate Authority over the decisions taken by the experts. The Apex Court in MANSUKHLAL VITHALDAS CHAUHAN VERSUS STATE OF GUJARAT [1997 (9) TMI 618 - SUPREME COURT] has observed that The Court cannot substitute its judgment for the judgment of administrative authorities in such cases. Only when the action of the administrative authority is so unfair or unreasonable that no reasonable person would have taken that action, can the Court intervene. This Court does not find that the decision making process adopted by the Board or the decision based on the final report is perverse or is contrary to law or against public interest, which would warrant interference from this Court under Article 226 of the Constitution of India. Court while exercising its jurisdiction under Article 226 of the Constitution of India while examining any enquiry report does not go into excruciating detailed facts nor does it substitute its conclusion to the one arrived at by the fact finding body. If the process adopted in the enquiry is fair, reasonable and transparent then the Writ Court does not interfere with the findings to substitute its own conclusion to the one arrived at by the authority simply because another view is possible. Petition dismissed.
|