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 ...
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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 Regulation 36B(5) of the IBBI Regulations after recall of the earlier approved plan due to a forged bank guarantee by the successful resolution applicant. The SC found no reason to interfere with NCLAT's decision dated 02.05.2025, thereby affirming the grant of time for submission following rectification of the prior order.
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.
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