NCLAT grants interim stay on NCLT order that rejected a 100% CoC-approved resolution plan for Kalka Infra Projects Pvt Ltd.
Appellants argue NCLT wrongly deemed plan non-compliant for paying government dues below liquidation value despite operational creditors receiving more than liquidation.
NCLAT directs new IRP to collate claims but bars CoC constitution and stays NCLT's direction for a fresh 150-day CIRP process.
Case involves allegations of RP misconduct, including siphoning assets and not collating all allottee claims for the real estate project.