NCLAT rejects insolvency plea against Voltas, upholding NCLT order due to pre-existing disputes with Air Wave Technocrafts.
New Delhi, Nov 30 (PTI) Appellate tribunal NCLAT has rejected a plea against Voltas, which sought to initiate insolvency proceedings against the Tata Group firm by one of its operational creditors.
A two-member NCLAT bench has upheld the earlier orders of the Mumbai-bench of the National Company Law Tribunal (NCLT), which had on May 27, 2025 rejected the petition on the grounds of a pre-existing dispute.
NCLAT upheld the findings of NCLT, saying it “has committed no mistake” in finding that the email chain between appellant Air Wave Technocrafts and Voltas “reflects ongoing disputes” regarding work certification,…