2025 (3) TMI 1254 - SCH - IBC

Exclusion of commercial spaces from the assets of the Corporate Debtor - owners of the units allotted on the basis of allotment of commercial spaces by the CD - dissenting Financial Creditors - it was held by NCLAT that the approval of Resolution plan upheld. HELD THAT - There are no good ground and reason to interfere with the impugned judgment which in our opinion is in accord with the provisions of the Insolvency and Bankruptcy Code 2016; hence the appeals are dismissed.

Summary

The Supreme Court, comprising Hon'ble Chief Justice Sanjiv Khanna, Justice Sanjay Kumar, and Justice K.V. Viswanathan, dismissed the appeals, finding no "good ground and reason to interfere with the impugned judgment" which aligns with the Insolvency and Bankruptcy Code, 2016. The Court noted the appellants' claim of not being paid under the resolution plan but refrained from commenting on it, allowing appellants to address this issue with the appropriate authorities "in accordance with law." All pending applications are disposed of.