Corporate dispute appellate tribunal NCLAT has set aside an appeal filed by Reliance Realty seeking insolvency proceedings against Altruist Customer Management.
A three-member bench of the appellate tribunal upheld the order of the Delhi-based National Company Law Tribunal (NCLT) which had rejected the insolvency plea after it observed a pre-existing dispute between the parties.
The NCLT, on October 5, 2024, dismissed the plea after it observed a dispute of over Rs 24.34 crore.
“We therefore don’t find any infirmity in the conclusions and the findings…