NCLAT dismisses interim stay application by Resolution Professional Manish Motilal Jaju against a three-year registration suspension order by IBBI's Disciplinary Committee.
The suspension stems from Jaju's misconduct in the CAN Enterprises CIRP, where he wrongfully rejected an operational creditor's claim to manipulate the CoC.
The tribunal upheld IBBI's authority to direct Jaju's removal from all ongoing CIRP assignments, citing his ineligibility post-suspension.
The order notes the serious nature of the misconduct, which was censured by NCLAT and the Supreme Court, finding no prima facie case for relief.