Corporate debtor to be taken in liquidation due to non-implementation of resolution plan even after lapse of 5 years

State Bank of India & Ors Vs Consortium of Mr. Murari Lal Jalan And Mr. Florian Fritsch & Anr (Supreme Court of India) Supreme Court held that jurisdiction under Article 142 of the Constitution of India invoked due to non-implementation of approved resolution plan even after five years of the approval. Accordingly, it is directed that the corporate debtor be taken in liquidation. Facts- These appeals arise from the judgment and order dated 12.03.2024 passed by the National Company Law Appellate Tribunal (NCLAT) wherein the NCLAT dismissed the appeal and upheld the order dated 13.01.202...