The National Company Law Appellate Tribunal (NCLAT) has dismissed an insolvency enchantment towards Amrit Polychem filed by Korea Trade Insurance Corporation.
The appellate tribunal has upheld the order handed by the Mumbai Bench of the Nationwide Firm Regulation Tribunal (NCLT), observing a preexisting dispute between the events.
The NCLAT stated Korea Commerce Insurance coverage Company (Ksure) was properly conscious of the truth that there was a preexisting dispute earlier than entering into the footwear of the JT Company (JTC).
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