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NCLAT reverses insolvency proceedings against Vatika Ltd

The National Company Law Appellate Tribunal has overturned a lower court's decision to start insolvency proceedings against real estate firm Vatika Ltd. The tribunal found that principal repayment was not yet due and some claims were overstated. It clarified that insolvency proceedings should only cover the specific project 'Aspirations'. This ruling allows Vatika to focus on its operations.

30 Mar 2026 10:26 pm