NCLAT upholds NCLT order admitting Canara Bank's Rs 2,888 crore insolvency petition against Gupta Power Infrastructure.
Appellant cited 23 arbitration awards worth Rs 1,192 crore and contracts worth Rs 2,409 crore as grounds to suspend CIRP.
Tribunal finds awarded amount significantly lower than debt, rejecting Vidarbha Industries precedent argument.
Matter adjourned to 24 August 2026 for possible settlement discussions between parties.