2025 (7) TMI 717 - SCH - IBC

Admission of application u/s 7 of the Insolvency and Bankruptcy Code 2016 - HELD THAT - Pursuant to the order under Section 7 of the Insolvency and Bankruptcy Code 2016 admitting IBC final Resolution Plan has already been approved by the National Company Law Tribunal(NCLT) and further approved by the National Company Law Appellate Tribunal (NCLAT) - the present appeal has been effectively rendered infructuous. The present appeal is dismissed.

Summary

The Supreme Court, in a partial bench comprising Hon'ble Justices Vikram Nath and Sanjay Kumar, condoned the delay in filing the present appeal. Senior counsel for the appellants submitted that the Insolvency and Bankruptcy Code, 2016 (IBC) final Resolution Plan had already been approved by the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT), rendering the present appeal "effectively rendered infructuous." Consequently, the Court dismissed the appeal but clarified that the appellant remains "open to pursue the appeal against the approved plan" and that parties may "raise all possible objections in the appeal against the approved plan." All pending applications were disposed of.