KLSR Infratech gets SC relief as insolvency plea gets dismissed

The Supreme Court has upheld an order of the National Company Law Appellate Tribunal (NCLAT) setting aside insolvency proceedings initiated against KLSR Infratech Limited by operational creditor A.S. Met Corp Pvt. Ltd., while also endorsing observations that the insolvency framework appeared to have been used as a “pressure tactic” against the infrastructure company. A Bench…

NCLT Chandigarh Admits Himalaya Food’s Insolvency Plea Against A.P.J. Laboratories Over ₹14.41 Cr Default

The Chandigarh Bench of the National Company Law Tribunal National Company Law Tribunal on 25 May admitted a Section 7 petition filed by Himalaya Food International Limited and initiated Corporate Insolvency Resolution Process (CIRP) against A.P.J. Laboratories Limited for default of Rs 14.41 crore, holding that the debt and default stood admitted and undisputed. Judicial…

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