- (1.) This is an application filed by the Insolvency Resolution Professional under section 60(5) of IBC 2016 read (for brevity the 'code') with its section 233 and 238. The prayer made by the Insolvency Resolution Professional is to grant him protection for all acts done by him in good faith and also to save him from the frivolous allegations made in FIR 605/2017 dated 06.08.2017 before the Police Station, Vaishali Nagar, Jaipur. The prayer has also been made for quashing the aforesaid FIR.
(2.) The FIR No. 605/2017 has been lodged on 06.08.2017 by one of the Directors of the Ex-Management Mr. Harendra Singh Rathore with the allegations that the Insolvency Resolution Professional has prepared fake documents and with some other allegations closely connected to his functions as a Resolution Professional. He has also sent reply to the Investigating Officer of Police Station, Vaishali.
(3.) The Insolvency Professional has to function in accordance with the scheme of the Code and perform his duties as such. If, there is any complaint against the Insolvency Professional then the Insolvency Bankruptcy Board of India (for brevity 'IBBI') is competent to constitute a disciplinary committee and have the same investigated from an Investigating Authority as per the provision of section 220 of the Code. If, after investigation %EBV finds that a criminal case has been made out against the Insolvency Resolution Professional then the 'IBBI' has to File a complaint in respect of the offences committed by him. It is with the aforesaid object that protection to action taken by the Insolvency Resolution Professional in good faith has been accorded by section 233 of the Code. There is also complete bar of trial of offences in the absence of filing of a complaint by the 'IBBI' as is evident from a perusal of section 236 (1) (2) of the Code. Therefore, a complaint by Harendra Singh Rathore, a former director with the SHO, Police Station would not be maintainable and competent as the compliant is not lodged by the 'IBBI'. Moreover, the ex-management has already filed a complaint on 22.01.2017 before the 'IBBI' and the same is under investigation.;