NCLAT Sets Aside NCLT Order in Belgotex vs Puneet Insolvency

The NCLAT allowed Belgotex India's appeal, setting aside the NCLT order that dismissed its Section 9 insolvency petition against Puneet India.
The appellate tribunal found the NCLT miscalculated default dates; only two invoices worth Rs. 3.17 million were time-barred under Section 10A of the IBC.
The case is remanded to the NCLT for fresh consideration, reviving the insolvency plea against Puneet India.