Application for staying auction process not tenable since rejection of resolution plan not objected

Mapletree Leather Goods Private Limited Vs Savan Godiawala (NCLAT) NCLAT Chennai held that application for staying auction process of Corporate Debtor not tenable since order rejecting resolution plan submitted by the appellant not objected. Accordingly, appeal dismissed. Facts- In this Appeal, the Appellant puts a challenge to the order passed in IA No.140/2022, in CP(IB) No.14/BB/2017, filed by him under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, to be read with Rule 11 of the NCLT Rules. In the said Application, the Appellant had prayed for staying the auction process of the...