NCLT Dismisses Burnpur Cement Insolvency Petition

NCLT Kolkata dismissed an insolvency petition filed by Mittal Polysacks against Burnpur Cement over an alleged operational debt of ₹1.25 crore.
The tribunal found substantial pre-existing disputes regarding the debt's existence, lack of delivery proof, and related-party transaction irregularities.
Burnpur Cement successfully argued the debt was reversed in its accounts after a management change uncovered financial irregularities.
The ruling prevents initiation of Corporate Insolvency Resolution Process against Burnpur Cement under Section 9 of IBC.