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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
ASHOK BHUSHAN, J
Puro Natural Sugars JV – Appellant
Versus
Shree Warana Sahakari Bank Ltd. – Respondent
| Table of Content |
|---|
| 1. appeal challenges nclt observations on sra's ia allowing resolution plan implementation. (Para 1 , 2) |
| 2. parties argue over extinguishment of personal guarantees and securities. (Para 4 , 5 , 6) |
| 3. resolution plan clauses extinguish all encumbrances on guarantors' assets. (Para 8 , 9 , 10 , 11 , 12) |
| 4. attachments under state law released post-debt resolution in cirp. (Para 13 , 14 , 15 , 16 , 17) |
| 5. prior objections overruled; dissenting creditors bound by approved plan. (Para 18 , 19 , 20 , 21) |
| 6. set aside paras 55-57; direct ibbi prosecution if non-compliance. (Para 23) |
JUDGMENT
ASHOK BHUSHAN, J.
This appeal by a Successful Resolution Applicant (SRA) has been filed challenging only the observations in paragraphs 55 to 57 of the impugned judgment dated 25.04.2025 passed by the adjudicating authority (National Company Law Tribunal, Mumbai Bench, Court – V) in I.A. No.4484/2024. The I.A. 4484/2024 filed by the appellant – SRA, has been allowed by the impugned order, however, by allowing the application, certain observations in paragraphs 55 to 57 have been made, aggrieved by which observations, this appeal has been filed.
2. Brief facts of the case necessary to be notice
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