2022 (2) TMI 1352 - SC - Insolvency and Bankruptcy

Liquidation of Corporate Debtor - HELD THAT - In its impugned judgment in PRAKASH CHANDRA KAPOOR AND ORS. VERSUS VIJAY KUMAR IYER LIQUIDATOR AT DELOITTE TOUCHE TOHMATSU INDIA LLP AND ORS. 2021 (12) TMI 1429 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL NEW DELHI the National Company Law Appellate Tribunal New Delhi has duly taken into comprehension the substance of the matter; and has been justified in issuing the directions as contained in paragraph 35 of the impugned order keeping in view the requirements of Section 35(1)(e) of the Insolvency and Bankruptcy Code 2016 as also the requirements of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations 2016. There are no question of law worth consideration in this appeal - appeal dismissed.

Summary

The Supreme Court upheld the National Company Law Appellate Tribunal's judgment, stating that it duly considered the matter and issued directions in accordance with the Insolvency and Bankruptcy Code and Regulations. The appeal by the erstwhile directors of the corporate debtor was dismissed.