New Delhi, May 1 (UNI) The National Company Law Appellate Tribunal (NCLAT) on Thursday rejected an appeal by Drilltech Engineers that challenged the Chandigarh Bench of the National Company Law Tribunal (NCLT) for refusing to initiate insolvency proceedings against real estate giant DLF Limited.
The appellate bench, headed by Justice Ashok Bhushan (Chairperson) and comprising Technical Members Barun Mitra and Arun Baroka, observed that the matter involved serious and ongoing disputes between the parties that predated the insolvency notice, thus disqualifying the claim under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC).
“The records clearly show a substantial exchange of communication indicating the presence of a genuine,…
