The National Company Law Tribunal (NCLT) dismissed an insolvency plea against ZTE Telecom India, filed by TVS Supply Chain Solutions. The tribunal cited a pre-existing dispute over Rs 4.27 crore, dating back to 2017, which was under reconciliation and audit objections. NCLT emphasized that insolvency proceedings cannot be used to recover disputed claims.
from Auto-Industry-Economic Times https://ift.tt/ACGLDvN
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