Finality of Approved Resolution Plan Upheld, Settlement Proposal Rejected After Approval Stage.

The National Company Law Appellate Tribunal (NCLAT) dismissed an appeal challenging an order that rejected a one-time settlement proposal. The adjudicating authority had previously approved a resolution plan, and the NCLAT upheld this decision, stating that reopening proceedings to consider a new settlement proposal after the resolution plan's approval is not permissible without compelling reasons, which were absent in this case. The appeal against the order was deemed unmerited. .....

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