NCLT Dismisses Insolvency Plea Against Sadbhav Engineering

NCLT Ahmedabad dismissed a Section 9 IBC petition filed by Suwarna Buildcon against Sadbhav Engineering for operational debt default.
The petition claimed Rs. 30.12 crore including interest from subcontract work on the Chitradurga Branch Canal Project.
Tribunal held the debt was not operational due to a settlement agreement and was barred under Section 10A of IBC.
Amendment application to change default date was rejected, and the petition was deemed a recovery proceeding.