2025 (7) TMI 855 - SCH - IBC

SC dismisses appeals challenging NCLAT order on corporate debtor dissolution and EMD refund during pandemic

The SC dismissed civil appeals challenging an NCLAT order regarding dissolution of a corporate debtor. The appellant sought extension of time to pay ... Dissolution of the Corporate Debtor - Appellant grant of leverage by way of an extension of time period to pay the amount, beyond the time period stipulated under the tender document - it was held by NCLAT that the Appellant's request for an extension of time to pay the balance amount denied but a partial refund of the EMD granted, acknowledging the unique challenges posed by the pandemic. HELD THAT:- No case for interference with the impugned order passed by the National Company Law Appellate Tribunal is made out. The Civil Appeals are, accordingly, dismissed. The Supreme Court, with Hon'ble Justices Abhay S. Oka and Ujjal Bhuyan presiding, heard the appeal presented by senior counsel for the appellant. Upon consideration, the Court found 'no case for interference with the impugned order passed by the National Company Law Appellate Tribunal.' Consequently, the Civil Appeals were dismissed.