SC refuses to hear Srei equipment plea

The Supreme Court (SC) on Friday said the National Company Law Appellate Tribunal (NCLAT) will hear Srei Equipment Finance's appeal against the tribunal's order that allowed the resolution professional of Shree Ram Urban Infrastructure to execute the sale of its "valuable" land in favour of Kalpataru Properties while insolvency process is going on. A bench led by Sanjiv Khanna said it is not inclined to interfere with the NCLAT order. Srei Equipment had challenged the NCLAT's January 3 order and the Tripura High Court's September order that ruled in favour of Kalpataru Properties.