NCLAT dismissed Suraksha Realty's appeal challenging approval of Bermaco Energy's resolution plan for Mahavir Roads and Infrastructure.
Suraksha alleged Bermaco concealed PMLA proceedings and misrepresented its secured creditor status in the Rs 60.16 crore plan.
Tribunal upheld CoC's commercial wisdom, finding no material irregularity despite pending Enforcement Directorate attachment proceedings.
The court ruled pending investigations don't constitute disqualification under Section 29A of IBC, affirming plan approval.