The Supreme Court has dismissed a creditor’s appeal against the termination of a company’s insolvency process, observing that it failed to understand how the order could be challenged when the proceedings had been terminated and relief had also been granted through that termination.
“Termination of legal proceedings cannot be a ground for assailing the same particularly when the relief has also granted by such termination of legal proceedings viz., Corporate Insolvency Resolution Process (CIRP) in the instant case,” the top court observed.
The bench of Justice B.V. Nagarathna and Justice R. Mahadevan dismissed the appeal against an order of the National Company Law Appellate Tribunal.
The appellate tribunal had terminated the…