NCLT rejects resolution plan for APS Infra Engineers due to non-compliance with avoidance transaction distribution regulations under IBC.
Tribunal orders liquidation, citing suspicious process and potential misuse, with PUFE applications involving approximately Rs. 13 Crore.
Resolution plan valued at Rs. 3.6 Crore provided Rs. 2.75 Crore to creditors against admitted claims of Rs. 220.79 Crore.
Mr. Yuvraj Tiwari appointed as liquidator with directions to investigate financial affairs and pursue avoidance transactions.