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 of Justice J.B. Pardiwala and Justice K.V. Viswanathan on Wednesday dismissed special leave petitions challenging the NCLAT’s March 23, 2026 ruling, which had quashed the corporate insolvency resolution process (CIRP) initiated against the Hyderabad-based engineering and infrastructure company.
The apex court also dismissed a similar petition…