The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) has held that an order passed by the Adjudicating Authority after considering all necessary materials essential for determining the issue cannot be recalled. Therefore, it cannot be said that such an order was obtained by playing fraud on the court on which ground only an order can be recalled.
Brief Facts:
Sarga Udaipur Hotels & Resorts Private Limited (Corporate Debtor) entered into a loan agreement with Housing and Urban Development Corporation Limited (HUDCO) for an amount of Rs.6907.92 Lakhs.
Corporate Insolvency Resolution…
