NCLT Rejects Tirupati Balaji Resolution Plan, Orders Liquidation

NCLT Jaipur Bench rejects resolution plan for Tirupati Balaji Enterprises due to non-compliance with IBC provisions and conditional nature.
Plan proposed ₹12.25 crore payment to Punjab National Bank but was contingent on ED attachment removal of sole asset.
Corporate Debtor ordered into liquidation; Mr. Shyam Sundar Maheshwari appointed as Liquidator.
CoC had approved plan with 100% vote share but Tribunal found it unviable and lacking implementation certainty.