NCLAT dismisses appeals challenging NCLT order that found oppression and mismanagement in Exclusive Capital Ltd, an RBI-registered NBFC.
Tribunal had appointed an Administrator, suspended the board for 180 days, and directed cancellation of ₹315 crore CCPS issued in violation of RBI norms.
Key findings included severe leverage ratio breaches, suspicious related-party transactions, and mass resignation of key managerial personnel.
NCLAT remands the main company petition back to NCLT for final adjudication on all pending issues.