NCLAT upholds insolvency proceedings against KKSPUN India over Rs 250 crore default to Yes Bank & SBI. The tribunal rejected an appeal by director Kavish Gupta.
New Delhi, Jul 17 (PTI) The National Company Law Appellate Tribunal (NCLAT) has given a go-ahead to the ongoing insolvency proceedings against KKSPUN India, a manufacturer and supplier of precast concrete solutions and telecom products.
The appellate tribunal NCLAT upheld the earlier order of the Delhi bench of NCLT, which had on July 11, 2025, directed the initiation of insolvency proceedings after finding a default in repayment of financial debt.
The National Company Law Tribunal (NCLT) order had come over a plea moved by Yes Bank, claiming a default of Rs 60.94 crore. Besides,…