NCLAT Dismisses Supreme Tollways Director Insolvency Appeal

NCLAT upholds NCLT order admitting Canara Bank's Section 7 insolvency application against Supreme Best Value Kolhapur Tollways.
Corporate Debtor defaulted on Rs 346.83 crore debt to consortium lenders totaling Rs 1113 crore admitted in CIRP.
Tribunal rejects appeal citing arbitration award of Rs 318.94 crore insufficient against total debt and CD's non-viability.
Court affirms Adjudicating Authority's discretion under IBC Section 7 considering Vidarbha Industries Power Ltd judgment.