NCLAT Upholds ASB Energy Insolvency Admission Order

NCLAT dismisses appeal by ASB Energy's director against NCLT order admitting insolvency petition filed by operational creditor Daga Power.
Dispute arose from unpaid supply component of a ₹36.88 crore JV contract with OPTCL for power transmission lines.
Tribunal finds clear operational debt existence, citing ASB's letter acknowledging ₹1.52 crore liability and availing GST input credit.
Appellant's arguments on JV relationship, Section 10A bar, and pre-existing dispute are rejected by the appellate tribunal.