Insolvency regulator IBBI’s Disciplinary Committee has cancelled the registration of Chakravarthi Srinivasan, a Telangana-based Insolvency Professional, for various contraventions of Insolvency and Bankruptcy Code (IBC).
In all four contraventions were found by the Disciplinary Committee, including two serious ones. Srinivasan is a member of the ICSI Institute of Insolvency Professionals.
Meanwhile, in a separate order, the Disciplinary Committee of IBBI has suspended the registration of Sumat Kumar Gupta, an insolvency professional, for one year.
Gupta is a member of the Indian Institute of Insolvency Professionals of ICAI.
Both orders of the IBBI Disciplinary Committee will come into effect on expiry of 30 days from the date of its issue.