Financial Creditor's Appeal Dismissed for Late Application Filing

The National Company Law Appellate Tribunal dismissed the appeal by a Financial Creditor against the rejection of their application by the Resolution Professional of 'M/s Divya Jyoti Sponge Iron Pvt. Ltd.' The appeal was rejected as the Adjudicating Authority had already approved a resolution plan prior to the application being filed. The Tribunal found no merit in the appeal and upheld the rejection.

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The National Company Law Appellate Tribunal rejected an appeal by a Financial Creditor claiming that their application was rejected by the Resolution Professional of 'M/s Divya Jyoti Sponge Iron Pvt. Ltd.' The Adjudicating Authority had approved a resolution plan before the application was filed, leading to the rejection of the appeal. The Tribunal found no merit in the appeal and dismissed it.

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