Shapoorji Pallonji: NCLT junks plea against Shapoorji Pallonji
The bankruptcy court in Mumbai has dismissed an insolvency plea by KBC Infrastructure against Shapoorji Pallonji & Co. The National Company Law Tribunal clarified that insolvency proceedings should not be misused as a debt recovery tool, especially when the debt amount is disputed and does not meet the threshold.
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Shapoorji Pallonji is an India-based industrial conglomerate that owns and operates businesses in sectors such as construction, real estate and finance.
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