Legal30 May 2026, 09:41 pm
Cosmic CRF Wins Supreme Court Appeal vs Myotic Trading
AI Summary
The Supreme Court of India has allowed the appeals filed by Cosmic CRF Limited in the matter against Myotic Trading Private Limited & Ors. The court declared that Cosmic CRF and its connected persons do not suffer from any disqualification under Section 29A of the Insolvency and Bankruptcy Code, 2016. The Supreme Court set aside the orders passed by the NCLAT, making Cosmic CRF eligible to participate in the CIRP of Amzen Transportation Industries Private Limited, and its Resolution Plan will be processed further.
Key Highlights
- Supreme Court allows Cosmic CRF's appeals against Myotic Trading.
- Cosmic CRF declared eligible under IBC Section 29A.
- NCLAT orders set aside by the Supreme Court.
- Cosmic CRF can participate in CIRP of Amzen Transportation Industries.
- Resolution Plan of Cosmic CRF to be processed further.