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2019 (8) TMI 494

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..... stablished process. If, there is any gap in the explanation provided by the IP, then further action is taken by the Board. Revealing the names of such IPs, is likely to harm their practice as most of the IPs are established professionals like Chartered Accountants, Company Secretaries, Cost Accountants, Advocates and managerial experts. The request of the appellant to disclose the list of insolvency professionals against whom disciplinary proceeding is under process cannot be accepted - Appeal dismissed. - Appeal No. ISBBI/A/2019/00026 (F. No. – IBBI/BS/RTI/RTI APP/246) Arising out of order dated May 27, 2019 under RTI Registration No. ISBBI/R/2019/50031 - Dated:- 1-8-2019 - Dr. Navrang Saini, Whole Time Member and First Appellate Authority .....

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..... he IPs at the time of appointment and if such information is not provided to the general public, it will harm the interest of the legal process and the interest of the parties concerned. c) That the reply of the CPIO is against the circular of the Board dated 23rd April, 2018 titled Commencement of Disciplinary Proceedings which states that a disciplinary proceeding is considered as pending against an insolvency professional (IP) from the time he has been issued a show cause notice by the Board till its disposal by the disciplinary committee and during the pendency of such proceedings, the IP concerned shall not accept any fresh assignment as interim resolution professional (IRP), resolution professional (RP), liquidator, or a bankruptcy tr .....

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..... in regard to the defaulting act done by him. Generally, it is used in order to provide the defaulter with a chance to present himself with a reasonable cause because of which he committed the wrongful act. 8. The concern of the appellant is that these IPs against whom disciplinary proceedings are pending, may be appointed as IRPs by parties initiating corporate insolvency resolution process (CIRP) under the Code, which would defeat the legal process. 9. Under the Code, it is the Adjudicating Authority (AA)( which appoints the IRP under Section 16 of the Code after ascertaining that no disciplinary proceeding is pending against them. 10. To prevent IPs with disciplinary proceedings pending against them from being appointed as IRP, the IP pro .....

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..... y citizen, - xxxxxxxx (h) information which would impede the process of investigation or apprehension or prosecution of offenders; xxxxxxxx. . The Supreme Court in Directorate of Enforcement v. Deepak Mahajan [Cr.A. No. 537 of 1990, 31st January, 1994], defined the word investigation as: …the word 'investigation' cannot be limited only to police investigation but on the other hand, the said word is with wider connotation and flexible so as to include the investigation carried on by any agency whether he be a police officer or empowered or authorised officer or a person not being a police officer under the direction of a Magistrate to make an investigation vested with the power of investigation. The CIC in Shahid Anwar v. Cent .....

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