Bombay HC says IBBI Must Follow Its Own Disciplinary Procedure including Natural Justice

A liquidator, was suspended for three months on findings concerning the constitution of the SCC, presentation of liquidation costs and delay in auction notices. 

Bombay HC found that the investigation report had expressly found no actionable material, yet the subsequent SCN relied on extraneous material and raised issues outside the complaints investigated. 

The Court also found that relevant explanations and material were ignored and quashed the disciplinary order.