NCLT Chandigarh dismisses SVSJ Developers' application objecting to the resolution plan for Samar Estates Pvt Ltd.
The tribunal holds the applicant lacks locus standi and its pre-CIRP term sheet was void ab initio.
The resolution plan by Ghanshyam Garg & Tricon Buildwell consortium was approved by CoC with 100% votes.
The application is dismissed with costs of ₹50,000 for abuse of process and wasting judicial time.