Intimation for dismissal of NCLT Order in favour of Universal Autofoundry Limited
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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The NCLT Jaipur Bench has dismissed a Section 9 insolvency petition filed against Universal Autofoundry Limited by M/s Precision Autocastings Pvt. Ltd., an operational creditor. The creditor had sought to initiate Corporate Insolvency Resolution Process (CIRP) against the company over alleged unpaid operational dues of around ₹2.01 crore related to supply of C.I. castings. The company successfully argued that there was a pre-existing commercial dispute involving debit/credit notes, price variation adjustments, and rejected goods. The order dated January 21, 2026 was passed entirely in the company's favour with no material adverse impact on its financials or operations.
Positive for shareholders — the company has avoided the threat of insolvency proceedings and will continue normal operations. This removes near-term uncertainty around a potential CIRP, though investors should note the underlying commercial dispute with the creditor remains unresolved.