2024 (5) TMI 382 - SCH - Insolvency and Bankruptcy

Doctrine of subrogation - Allowing recourse to the Financial Creditors against the Personal Guarantors of Asian Colour Coated Ispat Limited - Resolution Plan approved - it was held by NCLAT that 'commercial wisdom of the CoC has been given supremacy and no grounds exist for the Adjudicating Authority or Appellate Tribunal to interfere' - HELD THAT - There are no error in the NCLAT - appeal dismissed.

Summary

The Supreme Court upheld the order of the National Company Law Appellate Tribunal dated 01 March 2024 in Company Appeal (AT) (Ins) No 1105 of 2020. The appeal was dismissed, and any pending application was disposed of.