The Bank of Baroda (Erstwhile Vijaya Bank) filed an appeal against an order by the National Company Law Appellate Tribunal (NCLAT). The NCLAT had set aside an order of the National Company Law Tribunal (NCLT) which approved a Resolution Plan for Suchi Paper Mills Ltd. The NCLAT's decision was based on the fact that a single member of the NCLT approved the Resolution Plan, violating Section 419(3) of the Companies Act 2013. The NCLAT also noted that the NCLT failed to consider the requirements of Section 30(2) of the Insolvency and Bankruptcy Code 2016. During the Supreme Court hearing, it was submitted that substantial steps were taken to implement the approved plan and that the dues of the financial creditors were also settled. The Supreme Court disposed of the

The Bank of Baroda (Erstwhile Vijaya Bank) filed an appeal against an order by the National Company Law Appellate Tribunal (NCLAT). The NCLAT had set aside an order of the National Company Law Tribunal (NCLT) which approved a Resolution Plan for Suchi Paper Mills Ltd. The NCLAT's decision was based on the fact that a single member of the NCLT approved the Resolution Plan, violating Section 419(3) of the Companies Act 2013. The NCLAT also noted that the NCLT failed to consider the requirements of Section 30(2) of the Insolvency and Bankruptcy Code 2016. During the Supreme Court hearing, it was submitted that substantial steps were taken to implement the approved plan and that the dues of the financial creditors were also settled. The Supreme Court disposed of the