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IBBI suspends Insolvency Professional after CBI arrests him for demanding bribe of ₹20 lakh

As per the complaint dated May 3 filed with the CBI, it was alleged that after the settlement between the operational creditor and Guardian Homes, Maity had approached the latter and demanded an additional amount of ₹20 lakh in addition to his fees of ₹4 lakh. He allegedly threatened the complainant that failure to pay the additional amount would result in coercive actions against Guardian Homes such as seizure of bank account, publication of notice of liquidation, etc.

Source: Barandbench

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