NCLT admits Hero Electric to insolvency process over unpaid dues of ₹1.8 crore

The NCLT admitted Hero Electric’s insolvency petition due to unpaid dues of ₹18 crore. The company had been unable to settle its financial obligations, leading to the initiation of the insolvency process. The admission of the petition marks the beginning of the formal insolvency proceedings, which will involve the resolution of the company's debts and the restructuring of its operations. This ruling underscores the growing importance of the Insolvency and Bankruptcy Code in resolving corporate financial distress and protecting creditor interests.