NCLAT stays NCLT's appointment of an observer to oversee Hynite Farms' resolution plan implementation, citing overreach beyond IBC provisions.
Appellant SRA challenges NCLT's modifications to CoC-approved plan, including a Rs 212.11 crore minimum payment cap to NOIDA.
The appellate tribunal impleads NOIDA as a necessary party and lists the matter for further hearing on 18 August 2026.