2023 (3) TMI 1439 - SCH - Insolvency and Bankruptcy

India's Supreme Court Upholds NCLAT Order in Corporate Insolvency Case, Dismissing Appeal and Closing Pending Applications.

The SC of India upheld the NCLAT's order dated 05 December 2022 in Company Appeal (AT) (Ins) 399 of 2021. The appeal was dismissed, and any pending ... Removal of RP - expunging remarks against CoC as well as RP - it was held by NCLAT that though some of the respondents were allowed to participate in 1st CoC Meeting subsequently without prior approval of the Adjudicating Authority they were restrained from participating in the proceeding. Similarly number of other irregularities were committed by the RP. In such situation it was imperative for the Adjudicating Authority to pass order for removal of the RP by the impugned order. HELD THAT:- There are no error in the order of the National Company Law Appellate Tribunal in [2022 (12) TMI 499 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHI] - appeal dismissed. The Supreme Court of India upheld the order of the National Company Law Appellate Tribunal dated 05 December 2022 in Company Appeal (AT) (Ins) 399 of 2021. The appeal was dismissed, and any pending application was disposed of.