IBBI Corruption: Why Mamta Suri Attending Valuation Conference In Mumbai Organised by Restricted and non Eligible Body Corporate MNC Valuers Who Are Illegally Practising In India?
Delhi: Complaint registered against the ED IBBI, Ms Mamta Suri for attending Body corporate valuers seminar with expenses from their well wishers unconstitutionally at Mumbai on 25 April 2019. As per law ,body corporate can not act as valuer as per 34 AC of wealth tax act 1957. After getting no response from income tax they are inclined towards IBBI. As per complaint , Mamta Suri is lobbying for their well wishers to get entry of body corporate from back door in IBBI. As per information Body corporate have accumulated more than 100 cr to get back door entry in IBBI. The visit of Mamta Suri may be part of such process.
The body corporate are very much desperate to get valuer license from IBBI rule. But as per wealth tax act 1957 section 34 AC ,the body corporate can not act as valuers . The IBBI has no power to over ride the act by making rule. The lobbying of ED of IBBI in favour of body corporates is indication of huge corruption in IBBI.
Now days IBBI is going in wrong track and becoming regulator of valuation by making rules . The core duty of "The Insolvency and Bankruptcy Board of India (IBBI) is the regulator for overseeing insolvency proceedings and entities like Insolvency Professional Agencies (IPA), Insolvency Professionals (IP) and Information Utilities (IU) in India. It was established on 1 October 2016 and given statutory powers through the Insolvency and Bankruptcy Code, which was passed by Lok Sabha on 5 May 2016.It covers Individuals,Companies,Limited Liability Partnerships and Partnership firms. The new code will speed up the resolution process for stressed assets in the country. It attempts to simplify the process of insolvency and bankruptcy proceedings.It handles the cases using two tribunals like NCLT(National company law tribunal) and Debt recovery tribunal."
Mamta Suri comments is awaited.......
Call 9869345148 for more news and feedback.