2024 (2) TMI 94 - SCH - Insolvency and Bankruptcy

Rejection of Resolution Plan - Liquidation ordered - Application under Section 66 of IBC - reliability of Forensic Audit Report, an independent expert agency - ineligibility of the Appellants under Section 29 (A) (g) of the Code - It was held by NCLAT that the persons who are not covered under clause 29 A(g), will remain eligible to submit resolution plans under clause (c) of Section 29A, else will become ineligible as in the present Appeal - HELD THAT - There are no reason to interfere with the order of the National Company Law Appellate Tribunal. The appeals are accordingly dismissed.

Summary

The Supreme Court dismissed the appeals and upheld the order of the National Company Law Appellate Tribunal dated 10 October 2023 in Company Appeal (AT)(Insolvency) Nos 1070 and 1121 of 2023.