Liquidation application to be proceeded as resolution plan not implemented

Taguda Pte Ltd. Vs State Bank of India & Anr. (NCLAT Delhi) NCLAT Delhi held that application for liquidation of Corporate Debtor should be proceeded as there was sufficient ground to hold that resolution plan is not implemented. Accordingly, the appeal is dismissed. Facts- This appeal by a Successful Resolution Applicant (SRA) has been filed challenging the order dated 08.12.2023 passed by the adjudicating authority (National Company Law Tribunal, Mumbai Bench, Court – II), partly allowing application filed by the State Bank of India (SBI), Respondent No. 1, praying for direction to the...