Supreme Court dismisses MMTC's appeal against NSEL settlement

The Supreme Court on Tuesday dismissed an appeal by public sector undertaking MMTC Limited challenging the settlement scheme approved to resolve creditors' claims from the 2013 National Spot Exchange payment default. The NCLAT had already refused to interfere with the NCLT's approval, noting the scheme carried the backing of more than 90 per cent of creditors while MMTC had filed no objections before the tribunal. (Bar & Bench)

• The Supreme Court on Tuesday dismissed an appeal by public sector undertaking MMTC Limited challenging the settlement scheme approved to resolve creditors' claims from the 2013 National Spot Exchange payment default.
• The NCLAT had already refused to interfere with the NCLT's approval, noting the scheme carried the backing of more than 90 per cent of creditors while MMTC had filed no objections before the tribunal.