The Delhi High Court recently dismissed a writ petition, noting that it cannot invoke territorial jurisdiction to hear a matter against the Insolvency and Bankruptcy Board of India (IBBI) merely due to the fact that the IBBI had its presence in Delhi when the underlying Corporate Insolvency Resolution Process (CIRP) which formed the basis for the case arose in National Company Law Tribunal (NCLT) at Bengaluru.
Farooq Ali Khan, a suspended director of Associate Décor Limited a company undergoing CIRP before NCLT Bengaluru filed a formal complaint before IBBI under the Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations, 2017, alleging various irregularities by the Resolution …