SEBI’s Recall Plea Rejected; Fraud Allegation No Ground to Revisit Delay Order

Securities and Exchange Board of India Vs Pancard Clubs Ltd. & Ors (NCLAT Delhi)  The National Company Law Appellate Tribunal (NCLAT), Delhi, considered an application (I.A. No. 5716 of 2025) filed seeking recall of its earlier judgment dated 21 November 2024 in Company Appeal (AT) (Insolvency) No. 1528 of 2024. The applicant requested that the Tribunal recall the earlier order, reconsider the merits of the appeal, examine issues relating to an allegedly fraudulent resolution plan and procedural lapses, and tag the matter with Appeal No. 1531 of 2024. The background of the application con...