Insolvency proceedings: SC dismisses plea by wife of late Nitin Desai against NCLAT order
The National Company Law Appellate Tribunal had dismissed Nitin Desai’s appeal against an NCLT order initiating the corporate insolvency resolution process against his company. Naina had challenged the NCLAT order.
On September 11, a bench of Justices Sanjiv Khanna and S V N Bhatti of the apex court rejected Naina’s appeal against the NCLAT order and noted, “We do not find any good ground and reason to interfere with the impugned judgment and hence, the appeal is dismissed.” (Express Photo by Narendra Vaskar) The Supreme Court has rejected an appeal filed by Naina Desai, the wife of late art director Nitin Desai, against the National Company Law Appellate Tribunal (NCLAT) order dismissing his appeal against the National Company Law Tribunal (NCLT) order.
On July 25, the NCLT’s Mumbai bench had initiated a corporate insolvency resolution process (CIRP) against ND’s Art World Private Limited in view of an outstanding debt of Rs 252.48 crore, and appointed Jitender Kothari as the insolvency resolution professional (IRP). The NCLAT on August 1 had dismissed Desai’s appeal against the NCLT order.
However, following Nitin’s death, Naina challenged the NCLAT order before the Supreme Court; and an apex court bench comprising Justices Sanjiv Khanna and S V N Bhatti on September 11 rejected Naina’s appeal and noted, “We could not find a good ground and reason to interfere with the impugned judgment, and hence, dismissed the appeal.”
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