NCLAT rejects Authum challenge to Srei resolution

The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal by non-bank financier Authum Investment and Infrastructure against a National Company Law Tribunal (NCLT) order that rejected its objections to a resolution plan for two Srei firms.

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"We do not find any error in the order of the adjudicating authority rejecting the applications," said an NCLAT bench led by Justices Ashok Bhushan and Barun Mitra in its order of 5 January.

The NCLT's approval of the resolution plan was in the commercial wisdom of the committee of creditors (CoC), NCLAT said.

"There is no merit in the appeal. The appeal is dismissed," it said.