Open Data Intelligence
An Individual in India
An Indian Private Bank (Legal Department)
A senior insolvency professional
Scope
Fios Compliance was engaged to conduct an Open Data Intelligence check on a senior insolvency professional with over four decades of experience in loan syndication, restructuring, liquidation, and debt management.
Process
Fios’ proprietary automation platform executed scans across a wide spectrum of open data sources, incorporating adverse media searches with targeted keywords such as “fraud,” “default,” “investigation,” “money-laundering,” and “penalty.”
Leveraging advanced automation and intelligent filtering, the tool systematically aggregated and analyzed critical information from hundreds of authoritative and reliable public sources, along with their sub-databases.
Findings
Regulatory Actions:
- The subject’s registration as an Insolvency Professional had been suspended by the authority.
- The suspension pertained to handling of a CIRP of a real estate entity.
- Reported lapses included failure to comply with information requests, disregard of tribunal orders, and the appointment of a related party without due disclosure.
- The regulator’s website continues to reflect the suspension as active.
Professional Institute review:
- In liquidation proceedings of two entities, the subject’s role and activities were reviewed for issues relating to distribution of funds, fee arrangements, and hiring of related parties.
- While certain irregularities were noted, the disciplinary body closed the matter without penalty, citing broader systemic and external challenges during the proceedings.
Regulatory Advisory:
- During a separate inquiry, the subject was advised to exercise enhanced caution in invoicing practices, collaboration with associates, and the handling of confidential information.
- No punitive action followed this advisory.
Other Observations:
- Despite regulatory scrutiny, the subject remains actively engaged in multiple corporate insolvency and liquidation assignments under the Insolvency and Bankruptcy Code (IBC).
- The subject has appeared before various tribunals and courts in matters related to insolvency, restructuring, and liquidation, underscoring his longstanding expertise in the sector.
Outcome
The Open Data Intelligence check highlights that while the Subject is a highly experienced insolvency professional with a longstanding career in restructuring and insolvency matters, he has been subject to regulatory scrutiny at different stages. Overall, the findings present a profile of a seasoned professional whose expertise remains substantial, but whose compliance history warrants careful consideration for risk assessment and stakeholder decision-making.
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