The Economic Times

NCLT rejects insolvency plea against Noida Metro Rail Corporation over pre-existing disputes

The National Company Law Tribunal has rejected an insolvency plea against Noida Metro Rail Corporation. The tribunal found genuine disputes existed regarding service quality and payment deductions. Empire Transport Services Ltd had claimed operational dues. However, the NCLT cited breaches of contractual obligations by the service provider. This ruling prevents the initiation of insolvency proceedings.