The National Company Law Tribunal (NCLT) has rejected the plea for Corporate Insolvency Resolution Process (CIRP) against Dilip Buildcon. The rejection comes as a relief for Dilip Buildcon, a leading construction company in India. The CIRP plea was filed by a creditor who claimed non-payment of dues by Dilip Buildcon. However, the NCLT ruled in favor of Dilip Buildcon stating that the creditor’s claims were not valid and did not meet the requirements for initiating CIRP. This decision by the NCLT strengthens Dilip Buildcon’s position and allows the company to continue its business operations without any hindrance.
