Arbitration Clause No Bar Once Debt and Default Established: NCLT Admits ₹2.9 Cr Sec. 7 Insolvency Plea [Read Order]
The National Company Law Tribunal (NCLT) Mumbai Bench has held that the presence of an arbitration clause does not preclude insolvency proceedings once debt and default are established. Also found that the corporate debtor had defaulted on repayment of an inter‑corporate deposit of ₹2.9 crore and admitted a section 7 insolvency plea. The application, filed on 14 November 2025, sought…