NCLAT status quo in Baron Infotech CIRP resolution plan appeal

Resolution applicant filed appeal at NCLAT challenging approval of a rival's resolution plan in the ongoing CIRP of Baron Infotech. NCLAT Chennai ordered status quo on October 1, 2026, and listed final hearing for November 3, 5, and 6, 2026. Appellant alleges process irregularities including late-stage addition of a merger strategy by 3rd respondent and a downward revision in plan value from Rs 161.85 cr to about Rs 92.6 cr, raising questions on CIRP integrity.