McNally Bharat NPA Classification Dispute Dismissed

NCLT dismisses McNally Bharat's plea to remove NPA status and direct account regularisation, citing SRA's failure to implement mandatory Rs. 30 crore equity buyback.
Tribunal finds SRA BTL EPC Ltd defaulted on crucial Resolution Plan obligation, with buyback due date expired on 17 February 2026 without payment.
Court rules equity buyback was mandatory and decisive factor in plan approval, rejecting SRA's claim that it was optional prior to listing.
Banks directed to remove NPA classification only after SRA pays Rs. 30 crore with interest, within one week of receipt.