NCLT admits ₹1.13 crore insolvency plea against Shyam EPC
In short
The NCLT has admitted an insolvency plea for ₹1.13 crore against Shyam EPC. It found that the loan agreement, the disbursement records and non-repayment showed financial debt and default.
This pushes Shyam EPC into the insolvency resolution process and brings fresh legal pressure on the company.
What the reporting says
The NCLT admitted a ₹1.13 crore insolvency plea against Shyam EPC after finding that financial debt and default were established. The tribunal relied on the loan agreement, disbursement records and non-repayment to uphold that the disbursement constituted financial debt. The order moves the company into the insolvency resolution process.
Why it matters
The NCLT admitted a ₹1.13 crore insolvency plea against Shyam EPC after concluding that financial debt and default were established through the loan agreement, disbursement records and non-repayment. The ruling upholds that the disbursement counted as financial debt and sends the company into CIRP. The immediate impact is on Shyam EPC and its creditors.