The principal bench of the National Company Law Appellate Tribunal (NCLAT) has dismissed SEBI’s attempt to recall a NCLAT judgment rejecting its delay condonation application in a CIRP-related appeal.
SEBI filed an IA before the Tribunal seeking recall of its judgment dated 21.11.2024 in Company Appeal. The appeal had challenged an NCLT order. SEBI argued that its application for condonation of delay had been rejected without considering relevant grounds, including the exclusion of time under Section 14 of the Limitation Act.
The regulator also raised concerns regarding a purportedly fraudulent Resolution Plan and procedural lapses in the Corporate Insolvency Resolution Process (CIRP) and sought to tag the appeal…