2021 (8) TMI 1401 - SCH - Insolvency and Bankruptcy

Approval of the Resolution Plan - impugned order is assailed on the ground that the Adjudicating Authority has failed to consider objections raised by the Appellant to the Resolution Plan submitted by APSEZ as also the objections raised by the Appellant qua the rejection of settlement proposal submitted by Balaji Infra Projects Limited - It was held by NCLAT that All objections raised qua the action of the Resolution Professional during Corporate Insolvency Resolution Process approval of Resolution Plan of APSEZ by the Committee of Creditors and its subsequent approval by the Adjudicating Authority being unfounded are hereby repelled. HELD THAT - There are no reason to interfere - appeal dismissed.

Summary

The Supreme Court dismissed a civil appeal filed under Section 62 of the Insolvency and Bankruptcy Code, 2016 against a judgment by the National Company Law Appellate Tribunal. The Court found no reason to interfere after considering specific paragraphs of the judgment under appeal.