NCLAT upholds NCLT order validating SFIO's authority to file disgorgement applications under Section 212(14A) of Companies Act.
Court rules Central Government properly authorized SFIO via Ministry letter dated 26.09.2023 after considering investigation report.
Appellants' arguments regarding improper delegation and violation of natural justice principles were rejected as untenable.
The judgment clarifies distinction between decision-making by Central Government and implementation authorization to SFIO.