https://www.taxtmi.com/caselaws?id=767806 The NCLAT dismissed an appeal seeking recall of an order determining whether HUDCO was a related party of the Corporate Debtor. The Appellant and HUDCO had entered into a Joint Venture Agreement with 60:40 shareholding in SUIDL, which promoted the Corporate Debtor. HUDCO provided a loan and appointed a nominee director to the Corporate Debtor's board. The Appellant alleged fraud and suppression of HUDCO's Annual Report in obtaining the original order. The NCLAT found no suppression since all relevant documents were filed by both parties, and HUDCO's Annual Report was publicly available with ROC. The tribunal concluded HUDCO was not a related party and the original order was not obtained through fraud. en-us Tue, 25 Mar 2025 00:00:00 +0530 Wed, 26 Mar 2025 06:50:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767806 The NCLAT dismissed an appeal seeking recall of an order determining whether HUDCO was a related party of the Corporate Debtor. The Appellant and HUDCO had entered into a Joint Venture Agreement with 60:40 shareholding in SUIDL, which promoted the Corporate Debtor. HUDCO provided a loan and appointed a nominee director to the Corporate Debtor's board. The Appellant alleged fraud and suppression of HUDCO's Annual Report in obtaining the original order. The NCLAT found no suppression since all relevant documents were filed by both parties, and HUDCO's Annual Report was publicly available with ROC. The tribunal concluded HUDCO was not a related party and the original order was not obtained through fraud. Case-Laws IBC Tue, 25 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767806