NCLT rejects Uniton Infra's insolvency petition against Shapoorji Pallonji
Based on · First reported
Sources
- 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.
- 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.
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