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of <h1>Appeal Dismissed Upholding Tribunal's Order. Pending Applications Resolved.</h1> <h3>MULTI ARC COATING AND STRAPS LIMITED Versus BANK OF INDIA</h3> SC dismissed the appeal, finding no grounds to interfere with the Tribunal's order. Pending applications are disposed of. - MULTI ARC COATING AND STRAPS ... Maintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - existence of debt and default - applicability of time Limitation - it was held by Tribunal that The Adjudicating Authority erred in dismissing the Application under Section 7 of the IBC. HELD THAT:- There are no ground to interfere with the impugned order passed by the Tribunal. Appeal dismissed. The Supreme Court of India dismissed the appeal as it found no ground to interfere with the impugned order passed by the Tribunal. Any pending application(s) shall stand disposed of.
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