NCLT admits ₹23.54 crore insolvency plea against travel firm
In short
The NCLT admitted an insolvency case worth ₹23.54 crore against a travel company. It said the default happened before COVID and was above the legal threshold, so Section 10A protection did not apply.
This means the insolvency process can proceed. The report does not name the company or say what happens next in the case.
What the reporting says
The NCLT admitted a ₹23.54 crore insolvency plea against a travel company after finding pre-COVID defaults above the statutory threshold, according to the summary. It also held that Section 10A COVID-era protection did not apply because the defaults were pre-pandemic. The immediate consequence is that insolvency proceedings can move ahead, while the reporting does not name the company or give the full order details.
Why it matters
The NCLT admitted a ₹23.54 crore insolvency plea against a travel company after finding that the default was pre-COVID and exceeded the statutory threshold. On that basis, it said Section 10A protection for pandemic-period defaults did not apply. The decision allows the insolvency process to move forward, but the summary does not identify the company or provide further procedural details.