*The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal filed by* Praful Satra and other suspended directors of Satra Properties (India) Ltd. The NCLAT upheld a ₹2.65 crore recovery order passed by the National Company Law Tribunal (NCLT) Mumbai Bench, directing the suspended directors to refund the amount to the company along with 15% annual interest. The NCLT had allowed an application filed by the Resolution Professional (RP), Ms. Vaishali Patrikar, under Section 66 of the Insolvency and Bankruptcy Code, 2016, alleging that the amount was wrongfully written off and had caused loss to creditors . The disputed amount relates to an advance of ₹2.65 crore made in 2006 for the proposed purchase of a property in Bandra, which never materialized, and the amount was later written off by the company. The NCLAT found no merit in the appeal, asserting that the suspended directors failed to substantiate any genuine effort to recover the amount or justify the write-off. The appellate tribunal dismissed the appeal and directed the suspended directors to contribute ₹2.65 crore with 15% annual interest back to the corporate debtor's account. This decision highlights the importance of adhering to professional obligations and the consequences of non-compliance . "Share this update with others and stay updated by following the WhatsApp channel!" *Follow the VEM : VAPS®-EPSCON-MKJ channel on WhatsApp:* https://whatsapp.com/channel/0029Va555c5JJhzdOhLadx3B