Corporate LawsLaw Report
NCLT rejected the plan as SRA refused pending NHAI maintenance work essential for highway operations and concession agreement continuation.
The National Company Law Tribunal [NCLT] Mumbai Bench has denied a resolution plan worth ₹419.50 crore for SU Toll Road Private Limited, despite its acceptance by 100% of the Committee of Creditors (CoC), citing the reluctance of the Successful Resolution Applicant (SRA) to take up the ongoing major maintenance and repair work as being the cause for rejection of the…