New Delhi: The National Company Law Appellate Tribunal (NCLAT) has upheld an order passed by the NCLT, directing insolvency proceedings against a personal guarantor of Mumbai-based Nyka Steel.
A two-member bench of the appellate tribunal upheld a February 3, 2026 order of the National Company Law Tribunal (NCLT), Mumbai, which had admitted UCO Bank's plea to initiate insolvency proceedings against Asif Ahmed Siddique.