The Economic Times

NCLAT revives Walchandnagar Industries' insolvency plea against Swaraj India Agro on SC direction

The National Company Law Appellate Tribunal restored an appeal from Walchandnagar Industries against Swaraj India Agro. This restoration followed a Supreme Court order canceling a previous dismissal of Walchandnagar's insolvency petition. The NCLAT issued a notice directing Swaraj India to respond within four weeks. The dispute involves operational debts related to a sugar plant project initiated in 2013. The NCLT earlier dismissed both companies' petitions citing pre-existing disputes.