In a momentous legal judgment, the National Company Law Appellate Tribunal (NCLAT), Delhi has delivered its decision regarding the contentious insolvency case concerning Hindustan National Glass. The NCLAT has upholded the entire insolvency resolution process meticulously followed by the Resolution Professional and endorsed by the Committee of Creditors (COC).
This landmark ruling follows a series of appeals brought before the NCLAT by various parties, with Independent Sugar Corporation and others being among the appellants. Their appeals contested the procedural fairness and legality of the insolvency resolution process concerning Hindustan National Glass, including concerns regarding AGI Greenpac, which is in the race to acquire the co…
Read the full article at: https://www.brewer-world.com/nclat-confirms-agi-greenpacs-acquisition-of-hng-in-validated-insolvency-process/