2018 (11) TMI 1608 - SC - Insolvency and Bankruptcy

Supreme Court affirms NCLAT order, dismissing appeal and resolving pending applications.

The Supreme Court upheld the order of the National Company Law Appellate Tribunal (NCLAT) after reviewing the judgments of the National Company Law ... After hearing learned counsel for all the parties, it can be concluded that there is no infirmity in the order passed by the NCLAT. The appeal is accordingly dismissed. Issues:Validity of the order passed by the National Company Law Appellate Tribunal (NCLAT).Analysis:The Supreme Court, comprising MR. JUSTICE ROHINTON FALI NARIMAN and MR. JUSTICE NAVIN SINHA, reviewed the judgments of the National Company Law Tribunal (NCLT) and the NCLAT. After considering the arguments presented by the counsels representing all parties, the Court concluded that there were no defects in the order issued by the NCLAT. Consequently, the Court dismissed the appeal filed before it. Additionally, the Court mentioned that any pending applications were also resolved as a result of this judgment. The decision signifies the Court's affirmation of the NCLAT's order, indicating that the NCLAT's decision was legally sound and valid.