Two writ petitions were filed challenging an order dated 18th December 2024 by the Disciplinary Committee of the Insolvency and Bankruptcy Board of India (IBBI), which suspended Jitender Kumar Jain, an insolvency professional and liquidator, for three months. The suspension stemmed from complaints by the promoters/ex-directors of the corporate debtor, 'Aaj Ka Anand Papers Limited', alleging violations of the Insolvency and Bankruptcy Code (IBC) and its Regulations. Edelweiss Asset Reconstruction Company Limited, a secured financial creditor and member of the Stakeholders' Consultation Committee (SCC), also filed a petition supporting Jitender Kumar Jain, highlighting the obstructionist tactics of the corporate debtor's promoters.
Two writ petitions, WPL/2817/2025 by Jitender Kumar Jain and WPL/5263/2025 by Edelweiss Asset Reconstruction Company Limited, were filed.
The petitions challenged an order dated 18th December 2024 passed by the Disciplinary Committee of the Insolvency and Bankruptcy Board of India (IBBI).
The impugned order suspended Jitender Kumar Jain from performing as an insolvency professional/liquidator for three months.
Jitender Kumar Jain also challenged the show cause notice dated 9th July 2024 that led to the impugned order.
Edelweiss Asset Reconstruction Company Limited was a secured financial creditor of the corporate debtor, 'Aaj Ka Anand Papers Limited'.
Jitender Kumar Jain was appointed as the liquidator for 'Aaj Ka Anand Papers Limited'.
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Petition under Section 7 of IBC admitted,…
Corporate debtor 'Aaj Ka Anand Papers Limited'…
Two writ petitions were filed challenging an order dated 18th December 2024 by the Disciplinary Committee of the Insolvency and Bankruptcy Board of India (IBBI), which suspended Jitender Kumar Jain, an insolvency professional and liquidator, for three months. The suspension stemmed from complaints by the promoters/ex-directors of the corporate debtor, 'Aaj Ka Anand Papers Limited', alleging violations of the Insolvency and Bankruptcy Code (IBC) and its Regulations. Edelweiss Asset Reconstruction Company Limited, a secured financial creditor and member of the Stakeholders' Consultation Committee (SCC), also filed a petition supporting Jitender Kumar Jain, highlighting the obstructionist tactics of the corporate debtor's promoters.
Two writ petitions, WPL/2817/2025 by Jitender Kumar Jain and WPL/5263/2025 by Edelweiss Asset Reconstruction Company Limited, were filed.
The petitions challenged an order dated 18th December 2024 passed by the Disciplinary Committee of the Insolvency and Bankruptcy Board of India (IBBI).
The impugned order suspended Jitender Kumar Jain from performing as an insolvency professional/liquidator for three months.
Jitender Kumar Jain also challenged the show cause notice dated 9th July 2024 that led to the impugned order.
Edelweiss Asset Reconstruction Company Limited was a secured financial creditor of the corporate debtor, 'Aaj Ka Anand Papers Limited'.
Jitender Kumar Jain was appointed as the liquidator for 'Aaj Ka Anand Papers Limited'.
…Petition under Section 7 of IBC admitted,…
Corporate debtor 'Aaj Ka Anand Papers Limited'…