New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Friday allowed the withdrawal of UK-based Liberty House bid for ARGL on the plea of resolution professional of the debt-ridden company.
A two-member bench, headed by Justice SJ Mukhopadhaya, also pulled up Liberty House for not pursuing the corporate insolvency resolution process after being selected as the highest bidder.
You are a failure party all the time, dragging your feet. You are in a bad reputation. We would not allow you to take advantage of the appellate tribunal, the bench said.
NCLAT has upheld the previous order of the Chandigarh bench of NCLT, which had imposed a cost of Rs 1 lakh on Liberty House citing casua…
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