NCLAT Principal Bench dismissed six appeals challenging the NCLT Mumbai order approving the resolution plan for Unijules Life Sciences Ltd.
The approved plan by S.S. Fabricators provides Rs 65.26 crore payout to creditors and addresses disputed EPF liabilities through an escrow mechanism.
Appellants alleged procedural irregularities in CIRP including extended voting timelines and post-submission clarifications, but NCLAT found no merit.
The tribunal upheld CoC's commercial wisdom in selecting the plan and confirmed the resolution process complied with IBC provisions.