Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of disciplinary proceedings.

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....Stayed disciplinary punishment pending appeal does not, by itself, make an applicant unfit or improper for insolvency professional registration. Where an order removing the applicant from the professional register is kept in abeyance, the applicant remains registered and entitled to perform professional duties; mere pendency of disciplinary proceedings cannot justify refusal of enrolment-cum-registration. The rejection requires fresh consideration without reliance on the pending appeal, while remaining subject to its final outcome.....