No irregularity found in adoption of Swiss Challange Method: NCLAT uphold decision of adjudicating authorirty

Yashdeep Sharma Vs Tara Chand Meenia (NCLAT Delhi) NCLAT Delhi has upheld the decision of adjudicating authority (NCLT, Jaipur) who uphold decision of adjudicating authority (NCLT, Jaipur). Appellant is suspended director of Corporate Debtor who challenged the impugned order passed by NCLT, Jaipur (Adjudicating Authority) by which it approved resolution plan of Truefalir Buildwell LLP i.e. Successful Resolution Applicant (SRA) placed by RP. It was submitted on behalf of the appellant that RP had failed to conduct the CIRP proceedings of the Corporate Debtor with due diligence. Being suspended ...