Burnpur Cement NCLT Dismisses Insolvency Petition

NCLT Kolkata dismissed an insolvency petition filed by Mittal Pollypacks against Burnpur Cement for an alleged operational debt of ₹31.25 crore.
The tribunal ruled a pre-existing dispute exists, citing lack of written contracts, delivery proof, and tainted previous management's balance sheet entries.
The order prevents insolvency proceedings, allowing Burnpur Cement to continue operations as a going concern without CIRP impact.
The dismissal was based on Mobilox principles, finding the dispute genuine and not suitable for summary resolution under IBC.