# Jitender Kumar Jain & Anr. vs. Union of India & Anr.

> HC judgment dated 2026-08-25. Citation: TCN-2026-HC-00047. Two writ petitions were filed challenging an order dated 18th December 2024 by the Disciplinary…

- **Court:** HC
- **Order date:** 25 Aug 2026
- **Citation:** TCN-2026-HC-00047
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/bombay-high-court-panaji/jitender-kumar-jain-anr-vs-union-of-india-anr-qvwqi

## Summary

### Background

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.

## Facts

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'.

…

## Issues and analysis

### Issue 1: Whether the show cause notice dated 9th July 2024 and the subsequent impugned order dated 18th …

**Ratio:** The show cause notice was based on material extraneous to the investigation report, which

…

**Reasoning:** The investigation report dated 10th May 2024, prepared by Respondent No.6, categorically

…

**Interpretation:** The court interpreted the Board's actions as a failure to adhere to the

…

**Application:** The court found that the impugned order was vitiated due to these procedural

…

## Parties

- **Judges:** Manish Pita…; Shreeram V.…
- **Appellants:** Jitender Kumar…; Edelweiss Asset…
- **Respondents:** Aaj Ka Anand…; Union of…; +3 more
- **Other parties:** Stakeholders…; Promoters/ex-direc…; +2 more
- **Advocates:** Rahul…; Arjun…; +10 more

## Timeline

- **2022-03-31 — CIRP Init…**: Petition under Section 7 of IBC admitted, initiating Corporate Insolvency Resolution…
- **2023-04-12 — Liquidation…**: Corporate debtor 'Aaj Ka Anand Papers Limited' admitted into liquidation by an order of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/bombay-high-court-panaji/jitender-kumar-jain-anr-vs-union-of-india-anr-qvwqi