2024 (7) TMI 869 - SCH - Insolvency and Bankruptcy

Dismissal of an application of recall of an order - manipulation of books of account and siphoning of funds - fabrication of valuation report - it was held by NCLAT that 'The orders dated 11.01.2024 and dt. 22.02.2024 does not warrant any interference by this Tribunal. There is no merit in the appeal' - HELD THAT - There are no reason to interfere with the impugned order dated 3 May 2023 passed by the National Company Law Appellate Tribunal - appeal dismissed.

Summary

Issues:
1. Appeal against the order of the National Company Law Appellate Tribunal.
2. Dismissal of the Civil Appeal.
3. Disposal of pending applications.

Analysis:
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, considered the appeal challenging the order dated 3 May 2023 issued by the National Company Law Appellate Tribunal in Company Appeal (AT) (Insolvency) No 134 of 2024. After due deliberation, the Court found no grounds to interfere with the impugned order, leading to the dismissal of the Civil Appeal. Consequently, all pending applications were deemed disposed of by the Court. The judgment succinctly concludes the matter by upholding the decision of the National Company Law Appellate Tribunal without any further intervention from the Supreme Court.