2024 (5) TMI 895 - SCH - Insolvency and Bankruptcy

Admission of section 7 application - financial debt owed by the Corporate Debtor or not - default was committed by the Corporate Debtor in not carrying out the construction due to interim order or not - it was held by NCLAT that 'There is no error in the order of the Adjudicating Authority admitting Section 7 Application.' - HELD THAT - There are no reason to interfere with the order of the National Company Law Appellate Tribunal - appeal dismissed.

Summary

Issues involved: Appeal against the order of the National Company Law Appellate Tribunal dated 14 March 2024 in Company Appeal (AT)(Insolvency) No 1366 of 2023.

Judgment Summary:

1. The Supreme Court, comprising HON'BLE THE CHIEF JUSTICE DR DHANANJAYA Y CHANDRACHUD, HON'BLE MR. JUSTICE J.B. PARDIWALA, and HON'BLE MR. JUSTICE MANOJ MISRA, reviewed the matter.

2. The Court stated that there was no justification to intervene with the decision of the National Company Law Appellate Tribunal dated 14 March 2024 in Company Appeal (AT)(Insolvency) No 1366 of 2023.

3. Consequently, the appeal was dismissed by the Court.

4. The Court also mentioned that any pending application would be considered as disposed of in light of this judgment.