NCLAT allows appeal, sets aside NCLT order that rejected Tech Lads India's Section 9 insolvency application against Satnam Global Infraprojects.
Tribunal rules Rs. 8 crore payment was an advance for goods supply under a consortium agreement, constituting a valid operational debt under IBC.
Court revives the insolvency petition but grants Satnam Global a three-month window to liquidate the debt and avoid CIRP admission.