NCLAT Upholds Chamber Constructions Liquidation Order

NCLAT dismisses promoter Gokul Aggarwal's appeal against liquidation order for Chamber Constructions Pvt Ltd.
Tribunal rules simultaneous CIRP against principal borrower RNA Corp and corporate guarantor is permissible under IBC.
Appellant's settlement proposal under Section 12A rejected as impermissible during liquidation proceedings.
Liquidator directed to proceed with liquidation after CoC's unanimous decision and four years of failed settlement attempts.