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of <h1>SC upholds rejection of prohibition on liquidated damages deduction under approved resolution plan, dismisses appeal</h1> <h3>FABTECH PROJECTS AND ENGINEERS PVT. LTD. Versus HINDUSTAN PETROLEUM CORPORATION LTD.</h3> The SC upheld the NCLAT's decision rejecting the application seeking prohibition on deduction of liquidated damages from the Corporate Debtor's final ... Rejection of Section 7 application - prohibition on deduction of liquidated damages from the final invoices of the Corporate Debtor, in view of approved resolution plan - it was held by NCLAT that 'the Adjudicating Authority did not commit any error in rejecting the application filed by the Appellant.' HELD THAT:- It is not inclined to interfere with the impugned order passed by the National Company Law Appellate Tribunal, New Delhi. Appeal dismissed. The Supreme Court, with Justices J. B. Pardiwala and R. Mahadevan presiding, allowed the exemption application but declined to interfere with the impugned order of the National Company Law Appellate Tribunal, New Delhi. The Civil Appeal was dismissed accordingly. The Court expressly stated that the 'question of law is kept open,' and all pending applications were disposed of.
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