The National Company Law Appellate Tribunal dismissed an appeal filed by Allied Silica Limited challenging the NCLT, Mumbai bench's order that had rejected the insolvency application for initiating Corporate Insolvency Resolution Process against Tata Chemicals Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. In 2018, Tata Chemicals had entered into a Business Transfer Agreement for the transfer …
![NCLAT Upholds NCLT's Order : No Insolvency Proceedings Against Tata Chemicals [Read Order]](https://www.livelaw.in/h-upload/2019/12/03/367454-nclat-04.jpg)