2024 (7) TMI 820 - SCH - Insolvency and Bankruptcy

Seeking for substitution of Resolution Applicant with another entity, which has been rejected by the Adjudicating Authority - Asset Reconstruction Companies - Resolution Applicant or not - it was held by NCLAT that 'When plan of the Appellant as Resolution Applicant was approved, the Adjudicating Authority rightly refused to substitute another Resolution Applicant, in which order no infirmity is found.' HELD THAT - There are no reason to interfere with the order of the National Company Law Appellate Tribunal - appeal dismissed.

Summary

The Supreme Court condoned the delay in refiling the appeals and dismissed the appeals in Company Appeal (AT)(Insolvency) Nos 333 of 2024 and 334 of 2024. The order of the National Company Law Appellate Tribunal dated 1 March 2024 was upheld. Any pending application was disposed of.