The Bombay High Court has quashed an Insolvency and Bankruptcy Board of India (IBBI) Disciplinary Committee order suspending insolvency professional Jitender Kumar Jain’s authorisation for assignment for three months.
The court found that the show-cause notice issued to Jain was based on material outside the investigation conducted against him.
A Bench of Justice Manish Pitale and Justice Shreeram V. Shirsat delivered the judgment on August 25, 2026.
The case concerned Jain’s role as liquidator of Aaj Ka Anand Papers Limited. The National Company Law Tribunal admitted the company into liquidation on April 12, 2023, after its corporate insolvency resolution process failed.
Jain was appointed as liquidator and constituted the Stakeholders’…