NCLAT's dismissal of DVI appeal may pave the way for Amtek resolution

Topics Amtek Auto | NCLAT

The National Company Law Appellate Tribunal (NCLAT) dismissed an appeal made by US-based hedge fund, Deccan Value Investors (DVI), on Friday, over a mortgaged property, that may pave the way for implementation of the resolution plan in a corporate insolvency resolution process (CIRP) that has been running for more than three and a half years. DVI had appealed against a National Company Law Tribunal (NCLT) order approving its resolution plan on grounds that the condition precedent around a long-term lease for the Ace Complex land – a mortgaged property – had not been met. .....

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