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The SC dismissed the appeal concerning the power of the adjudicating authority to direct relisting of shares of a corporate debtor in insolvency proceedings. The Court directed that the main appeal be heard on 31.07.2025, with an appropriate decision to follow promptly. Until the NCLAT delivers its final order in the main appeal, no relisting of shares shall occur as previously directed by the NCLAT, and such relisting shall be conducted by the National Stock Exchange only subject to the final order. In the event of any delay by the NCLAT in hearing the matter, the successful resolution applicant is permitted to approach the SC again.
The SC dismissed the appeal concerning the power of the adjudicating authority to direct relisting of shares of a corporate debtor in insolvency proceedings. The Court directed that the main appeal be heard on 31.07.2025, with an appropriate decision to follow promptly. Until the NCLAT delivers its final order in the main appeal, no relisting of shares shall occur as previously directed by the NCLAT, and such relisting shall be conducted by the National Stock Exchange only subject to the final order. In the event of any delay by the NCLAT in hearing the matter, the successful resolution applicant is permitted to approach the SC again.
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