The National Company Law Appellate Tribunal (NCLAT), Principal Bench at New Delhi, comprising Justice N. Seshasayee (Judicial Member) and Arun Baroka (Technical Member), has observed that the Insolvency and Bankruptcy Code, 2016 is intended to maximise value through a time-bound resolution process and cannot permit indefinite delays in implementing an approved resolution plan, while dismissing an appeal filed by Taguda Pte. Limited, Singapore, against the liquidation of Ushdev International Limited.
The Corporate…