The Supreme Court on Thursday refused to interfere with the National Company Law Appellate Tribunal’s (NCLAT) order denying interim relief to resolution professional Ritesh Prakash Adatiya.
He had challenged the Insolvency and Bankruptcy Board of India’s (IBBI) decision to cancel his registration over alleged lapses in handling the corporate insolvency resolution processes (CIRPs) of three Anil Dhirubhai Ambani Group (ADAG) companies.
On July 20, 2026, the IBBI’s Disciplinary Committee cancelled Adatiya’s registration and barred him from continuing his existing assignments. It found that he had failed to identify potential avoidance transactions, disclose material information and file the requisite CIRP forms and cost disclosures.
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