The National Company Law Tribunal (NCLT) declared the resolution plan by Wadhwa Buildcon LLP's promoters invalid, citing conduct issues by the Resolution Professional (RP) and the promoters being declared wilful defaulters. Bank of India, the company's financial creditor, raised concerns about irregularities in the approval process, leading to the plan's rejection. NCLT found the voting dynamics skewed, favoring homebuyers over financial creditors due to RP's actions.
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