NCLT admits West Gujarat Expressway voluntary CIRP petition
In short
NCLT has admitted West Gujarat Expressway’s voluntary insolvency case over a ₹227.21 crore default. The tribunal said a pending SFIO probe does not stop insolvency proceedings.
This means the company’s insolvency process can go ahead even while the investigation continues.
What the reporting says
NCLT admitted West Gujarat Expressway’s voluntary CIRP petition over a ₹227.21 crore default, holding that a pending SFIO probe was no bar to insolvency proceedings. The tribunal accepted the case despite the ongoing investigation. The order clears the way for the insolvency process to proceed.
Why it matters
NCLT admitted West Gujarat Expressway’s voluntary CIRP petition after citing a ₹227.21 crore default. It also held that the pending SFIO investigation did not prevent insolvency proceedings from continuing. The ruling affects the company’s insolvency process and any related creditor action under the CIRP framework.