https://www.taxtmi.com/caselaws?id=311938 The SC dismissed the appeal by the Resolution Applicant due to non-payment within the extended three-month period granted by the National Company Law Appellate Tribunal. The Tribunal's decision to allow additional time aimed to ensure project continuation and the validity of the Bank Guarantee. The SC upheld the Tribunal's directives, emphasizing the necessity of implementing the Resolution Plan and maintaining the Monitoring Committee's role. Despite concerns from the Operational Creditor about delayed payments, the SC found the appeal infructuous and instructed the National Company Law Tribunal to proceed according to legal requirements, highlighting the importance of adherence to payment deadlines. en-us Mon, 29 Aug 2022 00:00:00 +0530 Tue, 23 Jan 2024 20:11:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311938 The SC dismissed the appeal by the Resolution Applicant due to non-payment within the extended three-month period granted by the National Company Law Appellate Tribunal. The Tribunal's decision to allow additional time aimed to ensure project continuation and the validity of the Bank Guarantee. The SC upheld the Tribunal's directives, emphasizing the necessity of implementing the Resolution Plan and maintaining the Monitoring Committee's role. Despite concerns from the Operational Creditor about delayed payments, the SC found the appeal infructuous and instructed the National Company Law Tribunal to proceed according to legal requirements, highlighting the importance of adherence to payment deadlines. Case-Laws Insolvency and Bankruptcy Mon, 29 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311938