NCLAT Dismisses Rama Traders' Insolvency Appeal Against Rocket Engineering

NCLAT upheld NCLT Mumbai's order rejecting Rama Traders' Section 9 insolvency application against Rocket Engineering Corporation.
The appeal was dismissed due to a defective Section 8 demand notice and the existence of a pre-existing dispute over the ₹3.45 crore debt.
The tribunal found the application was also time-barred, as the claimed default occurred in 2014 and was not properly acknowledged.