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Issues: Whether interference was warranted with the concurrent findings of the NCLT and NCLAT upholding the resolution plan and rejecting the claim of the erstwhile promoters to continue in the company in any capacity.
Analysis: The Court found no reason to interfere with the impugned order. It agreed with the view taken by the NCLT and the NCLAT that acceptance of the appellants' submission would render the resolution plan unworkable. The Court also accepted the observation that the appellants, being erstwhile promoters, could not be continued in the company in any capacity, including as shareholders.
Conclusion: Interference was declined and the dismissal of the appeal followed.
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