{"id":2470,"date":"2025-09-16T02:39:12","date_gmt":"2025-09-16T02:39:12","guid":{"rendered":"https:\/\/bhatiabhola.com\/?p=2470"},"modified":"2025-09-16T02:39:45","modified_gmt":"2025-09-16T02:39:45","slug":"ibbi-dc-order-dated-10-09-2025-ibbi-suspends-insolvency-professional-over-emd-forfeiture","status":"publish","type":"post","link":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/09\/16\/ibbi-dc-order-dated-10-09-2025-ibbi-suspends-insolvency-professional-over-emd-forfeiture\/","title":{"rendered":"IBBI DC Order Dated 10\/09\/2025 &#8211; IBBI suspends insolvency Professional over EMD Forfeiture"},"content":{"rendered":"\n<p>It was found that IP Mr Subburengan Hari Karthik, improperly forfeited an Earnest Money Deposit (EMD) of \u20b92 crore during the liquidation process. His actions went beyond the conditions outlined in the Expression of Interest and process documents, which specified that the EMD could only be forfeited under specific circumstances like default or non-payment of the upfront amount, not for expenses incurred due to subsequent litigation. The Disciplinary Committee suspended his registration for a period of one year.\u00a0<\/p>\n\n\n\n<p><a href=\"https:\/\/ibbi.gov.in\/uploads\/order\/5e53c27f8d75bc52df504be81ed11a64.pdf\"><em>(Link: IBBI DC Order Dated 10\/09\/2025)<\/em><\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It was found that IP Mr Subburengan Hari Karthik, improperly forfeited an Earnest Money Deposit (EMD) of \u20b92 crore during [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[66,98],"tags":[],"class_list":["post-2470","post","type-post","status-publish","format-standard","hentry","category-ibbi","category-ibbi-orders"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IBBI DC Order Dated 10\/09\/2025 - IBBI suspends insolvency Professional over EMD Forfeiture - Bhatia Bhola &amp; Associates LLP<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/09\/16\/ibbi-dc-order-dated-10-09-2025-ibbi-suspends-insolvency-professional-over-emd-forfeiture\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IBBI DC Order Dated 10\/09\/2025 - IBBI suspends insolvency Professional over EMD Forfeiture - Bhatia Bhola &amp; Associates LLP\" \/>\n<meta property=\"og:description\" content=\"It was found that IP Mr Subburengan Hari Karthik, improperly forfeited an Earnest Money Deposit (EMD) of \u20b92 crore during [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/09\/16\/ibbi-dc-order-dated-10-09-2025-ibbi-suspends-insolvency-professional-over-emd-forfeiture\/\" \/>\n<meta property=\"og:site_name\" content=\"Bhatia Bhola &amp; 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