NCLAT Rejects IBC Section 9 Plea Against Hindustan Unilever Ltd (HUL)

K. Lakshmi Narayana Vs Hindustan Unilever Ltd. (HUL) (NCLAT Delhi) National Company Law Appellate Tribunal (NCLAT) upheld the Adjudicating Authority’s decision to reject an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) against Hindustan Unilever Ltd. (HUL). The application, filed by K. Lakshmi Narayana as an Operational Creditor, was dismissed due to the claim amount falling below the mandatory threshold of Rs. 1 crore. The tribunal found that only a few invoices from 2017 to 2018 were within the limitation period, and even with interest claims, the amount did not m...