2024 (2) TMI 93 - SCH - Insolvency and Bankruptcy

CIRP - Unsuccessful resolution applicant - Locus standi to challenge the plan after its approval - it was held by NCLAT that The Appellant is not a stakeholder within the ambit of Section 31(1) of the Code qua the Corporate Debtor after having been unsuccessful as a resolution applicant and has no locus standi to file the present appeal - HELD THAT - There are no reason to interfere with the impugned judgement passed by the National Company Law Appellate Tribunal, Chennai Bench. The Civil Appeal is accordingly dismissed.

Summary

The Supreme Court dismissed the Civil Appeal and upheld the judgement of the National Company Law Appellate Tribunal in Company Appeal (AT) (Insolvency) No 201 of 2023. Pending applications were disposed of.