NCLT Mumbai Bench dismisses Mangla Capital's Section 10 insolvency petition, citing abuse of process.
Tribunal finds company has no operating revenue for six years, no assets, and no regulatory registration.
Petition deemed an attempt to thwart Rs 17.14 crore arbitral award in favor of HDFC Bank.
Total admitted default is Rs 1.02 crore to three creditors including APRN Enterprises.