2025 (8) TMI 1567 - SCH - IBC

Appeal dismissed; appellant given 30 days to submit replacement resolution plan under Regulation 36B(5) after forged bank guarantee recall

The SC dismissed the appeal, upholding the NCLAT's order that the appellant was eligible to submit a replacement resolution plan within 30 days under ... Submission of a Resolution Plan after the recall of the earlier approved Resolution Plan due to forged Bank Guarantee by the Successful Resolution Applicant (SRA) - Grant of 30 days time for submission of Resolution Plan as per provisions of Regulation 36B(5) of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 - it was held by NCLAT that the Appellant was eligible to submit a Resolution Plan after rectification of the order dated 19.12.2024. HELD THAT:- There are no good reason to interfere with the impugned order dated 02.05.2025 passed by the National Company Law Appellate Tribunal, New Delhi. Appeal dismissed. The Court reviewed the appeals against an order of the National Company Law Appellate Tribunal dated 02.05.2025 and concluded there was 'no good reason to interfere with the impugned order dated 02.05.2025 passed by the National Company Law Appellate Tribunal, New Delhi.' Consequently, the appeals were dismissed and all pending applications were disposed of. The disposition reflects a denial of appellate relief and affirms the NCLAT's decision without further elaboration on factual findings or legal analysis in the record provided. The operative relief is limited to dismissal of the appeals and disposal of ancillary applications.