NCLT rejects Uniton Infra's insolvency petition against Shapoorji Pallonji
The National Company Law Tribunal dismissed Uniton Infra's request to start insolvency proceedings against Shapoorji Pallonji & Co over an alleged default of Rs 4.31 crore linked to road resurfacing work in Nellore.1
The tribunal ruled that one invoice fell under the Covid-era ban on bankruptcy filings and the remaining claim was below the Rs 1 crore threshold, meaning the dues did not satisfy the legal criteria for initiating insolvency action.1