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The Economic Times
The Economic Times

NCLAT upholds insolvency proceedings against Nyka Steel guarantor over UCO Bank dues

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.

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