New Delhi: TVS Supply Chain Solutions has moved appellate tribunal NCLAT, challenging an NCLT order which had rejected its plea to initiate insolvency against the Indian unit of telecom gear manufacturer ZTE.
The NCLAT registrar has accepted the request of TVS Supply Chain for more time to cure defects in the plea, which was accepted by it on Thursday. It also directed that the plea be listed before a bench for hearing.
In October this year, a Chandigarh-based bench of the National Company Law Tribunal (NCLT), had dismissed the insolvency plea filed by TVS Supply Chain Solutions after observing a pre-existing dispute between the parties.
The NCLT in its order had said that the debt claimed by TVS Supply Chain Solutions was disputed and…