NCLAT Confirms CIRP Admission Despite OTS with Guarantors, Says Corporate Debtor Still Liable [Read Order]
Corporate Debtor Liable: NCLAT Confirms CIRP Admission The National Company Law AppellateTribunal (NCLAT), in a recent ruling, upheld the initiation of the CorporateInsolvency Resolution Process (CIRP) against M/s Ace Engineering (India) Pvt. Ltd., rejecting claims that a One-Time Settlement (OTS) with personal guarantors extinguished the company’s debt. The appeal was dismissed on July 3, 2025.…