Luthra And Luthra Secures Victory For Pioneer Engineering In NCLAT Appeals

Luthra And Luthra Secures Victory For Pioneer Engineering In NCLAT Appeals

Luthra and Luthra Law Offices India successfully represented Pioneer Engineering Industries, the Successful Resolution Applicant (SRA), before the National Company Law Appellate Tribunal (NCLAT), New Delhi, in three appeals and two cross-appeals. These appeals challenged two orders passed by the National Company Law Tribunal (NCLT), Allahabad Bench, which had approved the Resolution Plan submitted by the SRA but imposed multiple modifications while also dismissing an application by a Dissenting Financial Creditor objecting to the plan.

Following extensive arguments spanning multiple days, the NCLAT, through its Common Judgment dated February 7, 2025, ruled in favor of the SRA. The tribunal set aside the modifications imposed by the NCLT on the Resolution Plan and dismissed the cross-appeals filed by the Dissenting Financial Creditor.

The case was argued entirely by Luthra and Luthra’s dispute resolution team, led by Partner Nakul Sachdeva, with support from Senior Associate Sagar Arora and Associates Karundeep Singh and Abhinandan Sharma, without the assistance of external arguing counsel. The firm also acknowledged the contributions of Court Clerk Dheeraj Kumar.

The respondents in the matter were represented by Senior Advocate Abhijeet Sinha, along with Abhishek Anand and Ankur Goel.