Introduction
Under the Insolvency and Bankruptcy Code, 2016, Insolvency
Professionals play a central role in the Corporate Insolvency
Resolution Process (CIRP) and may act as Interim
Resolution Professionals or Resolution Professionals. Further, they
may even act as Liquidators, if the matter proceeds to
liquidation.
A key legal question is whether Insolvency Professionals,
particularly Resolution Professionals (RP) while
discharging their duties as an RP during the CIRP, qualify as
‘public servants' under the Prevention of Corruption
Act, 1988 (PCA). There are divergent views on this
topic. While the Delhi High Court has held that an RP is not a
‘public servant' under the PCA, the Jharkhand High
Court has held that an RP is indeed a ‘public servant'
under the PCA. In this short piece, we will be quickly analysing
the Delhi High Court decision and one Jharkhand High Court
decision. The decision of the Jharkhand High Court has far-reaching
consequences for
