New Delhi, Insolvency appellate tribunal NCLAT on Monday dismissed an appeal by Singapore-based Taguda Pte Ltd against the liquidation of Ushdev International, holding that the resolution applicant’s “persistent and inordinate failure” to implement its plan for over three years left the NCLT with no other option.
A two-member NCLAT bench has upheld the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT), which had directed initiating of liquidation for Ushdev International, which was engaged in ferrous metal trading and…