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of <h1>Appeal dismissed; resolution plan upheld as compliant with Section 30(2) and Regulations 37-38, waterfall and Section 53 intact</h1> <h3>Joint Commissioner of State Taxes And Excise (Sez), Parwanoo, Himachal Pradesh Versus M/s Radiant Castings Pvt Ltd & Anr.</h3> SC dismissed the appeal and upheld the NCLAT order of 09.07.2025, finding no grounds to recall approval of the resolution plan. The court agreed the plan ... Seeking recall of order - approval of Resolution Plan - Section 30(2) of the IBC - waterfall mechanism - section 53 of IBC - Recovery of statutory tax dues - it was held by NCLAT that 'The resolution plan already stands implemented and therefore cannot be reversed when the Appellant has failed to make out any ground as to how the resolution plan was non-compliant of Section 30(2) of IBC. The Resolution Plan also met the requirements of Regulations 37 and 38 of the CIRP Regulations, 2016.' HELD THAT:- There are no good ground to interfere with the impugned order dated 09.07.2025 passed by the National Company Law Appellate Tribunal, New Delhi. Appeal dismissed. 'We find no good ground to interfere with the impugned order dated 09.07.2025 passed by the National Company Law Appellate Tribunal, New Delhi.' The Supreme Court declined to disturb the NCLAT's decision, concluding there were insufficient grounds for interference with the impugned order. Consequently, 'The appeal is, accordingly, dismissed.' The Court further directed that pending application(s), if any, stand disposed of. The disposition reflects appellate deference to the NCLAT's findings and determination on the merits, resulting in termination of further judicial relief in this appeal and closure of ancillary proceedings.
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