The NCLAT has officially dismissed the Department of Telecommunications' (DoT) appeal against Rolta India's resolution plan, stating it has already been executed and the company petition is now closed. The resolution professional deemed DoT's claims for overdue license fees as contingent. Furthermore, the tribunal noted that DoT had failed to contest this classification in the National Company Law Tribunal (NCLT), ruling out any interference with the plan at this stage.
Synopsis
The NCLAT has officially dismissed the Department of Telecommunications' (DoT) appeal against Rolta India's resolution plan, stating it has already been executed and the company petition is now closed. The resolution professional deemed DoT'... [4495 chars]
Source: The Economic Times
Read on original siteQuestions about how this affects your business? Speak with a PJRJ partner.