NCLAT restricts insolvency proceedings against Vatika Ltd

CIRP limited to specific project scope

Mergers & Acquisitions
🇮🇳
Economic Times ·
Change
India’s NCLAT ruled insolvency proceedings against Vatika Ltd must be confined to a single project and not applied company-wide.
Why it matters
Creditors must demonstrate due principal repayment default before initiating broader insolvency actions.
Implications
  • — Creditors face stricter filing criteria — claims limited
  • — Company avoids full insolvency — operational continuity preserved

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Economic Times
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