NCLAT Admits Appeals Against Furnace Fabrica Resolution Plan

NCLAT condoned a 44-day delay and admitted appeals against the NCLT order approving the resolution plan for Furnace Fabrica (India) Limited.
Appellants, including shareholders, challenge the inclusion of subsidiary assets in the corporate debtor's assets, which the RP asserts were always part of the estate.
The tribunal allowed the resolution plan to proceed subject to the appeal outcome and permitted the successful resolution applicant to be impleaded.