The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal filed by VPR Mining Infrastructure Pvt. Ltd., upholding the order of the National Company Law Tribunal (NCLT), NCLAT Indore Bench, which had rejected a Section 9 application filed under the Insolvency and Bankruptcy Code, 2016.
The appellant had approached the NCLAT against the NCLT’s order dated 05.04.2024, arguing that the Adjudicating Authority erred in rejecting the Corporate Insolvency Resolution Process (CIRP) plea on the ground that the alleged default occurred during the moratorium period specified under Section 10A of the Code.
VPR Mining had entered into a Memorandum ofUnderstanding (MoU) with the respondent, Gajraj Mining Pvt….
