The National Company Law Appellate Tribunal(NCLAT), Principal Bench, New Delhi, dismissed the appeal filed by a successful bidder seeking additional reliefs and concessions beyond those granted by the National Company Law Tribunal (NCLT), Mumbai Bench, in relation to the acquisition of a corporate debtor under liquidation.
The appellant, Shanti International, challenged the order passed by the NCLT, Mumbai, whereby while several reliefs were granted, certain reliefs and concessions claimed by the appellant were denied.
Gajanan Solvex Limited is a corporate debtor, had entered liquidation pursuant to Corporate Insolvency Resolution Process (CIRP) initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016.
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