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of <h1>Tribunal upholds order dated 26.08.2019, legal review pending before NCLAT</h1> <h3>Mr Sandeep Khaitan, IRP and National Plywood Industries Ltd. (NPIL) Versus Stressed Assets Stabilization Fund (SASF)</h3> The Tribunal clarified that the order dated 26.08.2019 remains valid and is under legal review before the NCLAT. The application for correction was ... Rectification of mistake - correction of a factual error that crept in the order - HELD THAT:- It was mistakenly mentioned at para 2 of page 2 of the said order as if the final order dated 26.08.2019 passed by this Tribunal was set aside by the Hon’ble Apex Court in an SLP and remitted the matter to NCLAT. However, it transpires from the record that the Hon’ble Supreme Court merely set aside the order passed by the NCLAT and remitted back the matter to NCLAT for fresh disposal on the plea of limitation. As a legal corollary, the order dated 26.08.2019 passed by this Tribunal remains intact and is under legal scrutiny before the NCLAT. This Tribunal has taken judicial notice of the said factual error. The IRP is at liberty to act as per law as this Tribunal has already expressed its stand in regard to the aspect of status quo in the above order as it was a mere casual observation which was not culminated into any direction - Application disposed off. The Tribunal corrected a factual error in an order, clarifying that the order dated 26.08.2019 remains intact and is under legal scrutiny before the NCLAT. The application for correction was disposed of with this observation.
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