IBBI, NCLAT Delhi Judgement Dated 19/09/2025 – Resolution plan rightly not approved since deed claimed by Corporate Debtor is unenforceable 

Case of CoC of Jupitar Spun Pipes & Casting Pvt Ltd vs Bihar State Industrial Development Corporation Ltd, NCLAT Delhi Judgement Dated 19th September 2025. The appellate tribunal held that order of Adjudicating Authority refusing approval of resolution plan justified since deed claimed by Corporate Debtor is doubtful and questionable and accordingly, asset cannot be treated as asset of Corporate Debtor. 

(Link: NCLAT Delhi Judgement Dated 19/09/2025)

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