No Appeal U/s. 61 of IBC maintainable post Corporate Debtor dissolution: NCLAT Delhi

New India Color Company Ltd. Vs Samtex Desinz Pvt. Ltd. (In CIRP) & Anr. (NCLAT Delhi) National Company Law Appellate Tribunal (NCLAT), in New India Color Company Ltd. vs. Samtex Desinz Pvt. Ltd. (In CIRP), held that no appeal under Section 61 of the Insolvency and Bankruptcy Code (IBC) is maintainable once the corporate debtor is dissolved under Section 54 of the IBC. The case involved an appeal against an order dated September 14, 2022, by the NCLT rejecting various reliefs sought by the appellant, including declaring a party as a related party and barring its inclusion in the Committee ...