NCLAT Rejects MMTC Plea Against NSEL-Traders One-Time Settlement

• NCLAT dismissed MMTC's appeal challenging the one-time settlement (OTS) between NSEL and traders.
• The Mumbai NCLT had approved a Rs 1,950-crore settlement scheme for NSEL and 63 Moons with traders having Rs 4,300 crore dues.
• MMTC argued the scheme was 'prejudicial to public interest' and based on 'wrong facts' amounting to fraud.
• NCLAT noted the OTS was approved by over 90% of creditors and previously affirmed by the Supreme Court.
• The tribunal stated that 'incorrect finding' is not equivalent to 'fraud' and no other authorities challenged the scheme.