Gujarat HC Stays IBBI’s Suspension of IP Over Bias, No Appeal Remedy

Chandra Prakash Jain Vs Insolvency And Bankruptcy Board of India (Gujarat High Court) In a significant interim order, the Gujarat High Court has temporarily halted the six-month suspension of an insolvency professional (IP) imposed by the Insolvency and Bankruptcy Board of India (IBBI). The case, Chandra Prakash Jain v. Insolvency and Bankruptcy Board of India, challenges the procedural validity of the IBBI’s disciplinary action, raising critical questions about the agency’s regulatory framework. The petitioner, represented by Senior Advocate Percy Kavina, contended that the IBBI’s order...