Disable plugin update notification for a specific plugin

Add following code into your specific plugin file to disable update notification,

//Filter to remove plugin update notification.
add_filter('site_transient_update_plugins', 'remove_plugin_update_notification');
function remove_plugin_update_notification($value)
{
 unset($value->response[ plugin_basename(__FILE__) ]);
 return $value;
}

Have Fun!