https://www.taxtmi.com/caselaws?id=781393 NCLAT allowed the appeal, quashed the impugned order dated 02.06.2025 and exercised its power under Section 231(1)(b) to permit an extension of time for deposit of the balance due under the approved scheme of arrangement. The Tribunal held prior extensions and alleged conduct by the liquidator did not create an absolute bar to further extension where the scheme was approved and settlement processes are contemplated by law. In view of delays due to time constraints, late ROC filing and related factors, the Tribunal granted discretion to ensure implementation of the scheme. en-us Wed, 29 Oct 2025 00:00:00 +0530 Sat, 15 Nov 2025 07:56:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781393 NCLAT allowed the appeal, quashed the impugned order dated 02.06.2025 and exercised its power under Section 231(1)(b) to permit an extension of time for deposit of the balance due under the approved scheme of arrangement. The Tribunal held prior extensions and alleged conduct by the liquidator did not create an absolute bar to further extension where the scheme was approved and settlement processes are contemplated by law. In view of delays due to time constraints, late ROC filing and related factors, the Tribunal granted discretion to ensure implementation of the scheme. Case-Laws IBC Wed, 29 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781393