In Brief
In this case, the Supreme Court intervened to protect Anuj Jain, an Interim Resolution Professional appointed by the Court in insolvency proceedings involving Jaypee Kensington Boulevard Apartments. Uttar Pradesh Police arrested Jain based on an FIR registered in Greater Noida, apparently unaware that he enjoyed statutory privilege under Section 233 of the Insolvency and Bankruptcy Code, 2016. The Court was alarmed by this action and immediately ordered Jain's release, directed police not to take further coercive action, and issued notice to the investigating officer to explain his conduct. The judgment emphasises that police must respect statutory protections afforded to court-appointed professionals in insolvency matters."
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