Chennai: VA TECH WABAG, a water treatment solutions company, has filed an appeal with the National Company Law Appellate Tribunal (NCLAT) after insolvency proceedings were initiated against it at the National Company Law Tribunal (NCLT), Chennai bench, by Consolidated Construction Consortium (CCCL). The company clarified that that it is completely solvent. “CCCL had worked as one of the sub-contractors for the company’s Dwarka project. CCCL had alleged non-payment of Rs 1,50,13,529 in dues. It is important to note that, CCCL had not fully performed their contractual obligations as per the contract with the company and hence WABAG has disputed this claim,” the company stated. WABAG als…
Read the full article at: https://timesofindia.indiatimes.com/business/india-business/wabag-appeals-in-nclat-against-insolvency/articleshow/61027859.cms
