NCLAT upholds NCLT order recalling insolvency case against Logix Infra, citing fraudulent debt claim and collusion between parties.
New Delhi, Sep 13 (PTI) Appellate tribunal NCLAT has upheld the decision of the National Company Law Tribunal (NCLT) to recall a previous ruling for an insolvency case against real estate firm Logix Infrastructure after finding the debt claim as “fraudulent” and “malicious”.
A two-member NCLAT bench said the plea for CIRP (Corporate Insolvency Resolution Process) against Logix Infrastructure, which was developing the Blossom County project in Noida Sector 137, are based on collusion and are malicious with sufficient material.
“In the facts and circumstances of the case, we do not find any infirmity in the…