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Orders must be expeditiously updated on the NCLT website: Delhi HC

On Wednesday, the Delhi High Court had given direction to the National Company Law Tribunal to upload the orders on the website of NCLT to upload the orders as soon as possible.

Justice Pratibha M. Singh remarked that the NCLT order delivered on 14th March 2022, took time to be uploaded on the website of the NCLT. The court said that the orders take a lot of time to be uploaded on the website. Especially, the orders where the moratorium is being declared and the IRP is being appointed, need to be uploaded expeditiously.

This was being stated by the court, while they were hearing the plea that was filed by an insolvency professional, who had challenged the order of the insolvency and bankruptcy board of India, where he requested to set aside this order by which he had been suspended for almost a year. This was done to demand a bribe of Rs. 20 lakhs for the settlement of the CIRP of a party.

A complaint was made on 3rd May 2022 to the CBI. It was alleged that he had also tried to threaten the complainant that actions such as the seizure of the bank accounts would take place if the bribe amount was not paid.

When the investigation proceeded it was found that the allegations were of serious nature and it was in contravention of several principles of the IBC.  The counsel for the petitioner claimed that the allegations were false and baseless, to which the respondents replied by calling into question the conduct of the petitioner.

One of these conducts is the one for which even the show cause notices were issued to the petitioner. The next date for hearing the matter has been fixed, and the court has directed the CBI to submit the status report.

Case Title: – Subrata Monindranath Maity v. IBBI 

Written By – Shianjany Pradhan

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