Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
The Supreme Court dismissed the civil appeals, affirming the NCLAT's order dated 28.02.2025. The NCLAT had previously upheld the approval of the Resolution Plan dated 30.05.2022, passed by the Liquidator, and dismissed the related appeal. It was further held that the delay in re-filing the appeals was satisfactorily explained and thus condoned. The SC found no grounds to interfere with the NCLAT's decision, thereby confirming the validity of the Resolution Plan and the dismissal of the appeals challenging it.
The Supreme Court dismissed the civil appeals, affirming the NCLAT's order dated 28.02.2025. The NCLAT had previously upheld the approval of the Resolution Plan dated 30.05.2022, passed by the Liquidator, and dismissed the related appeal. It was further held that the delay in re-filing the appeals was satisfactorily explained and thus condoned. The SC found no grounds to interfere with the NCLAT's decision, thereby confirming the validity of the Resolution Plan and the dismissal of the appeals challenging it.
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