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Appellate tribunal NCLAT has rejected a plea against Voltas, which sought to initiate insolvency proceedings against the Tata Group firm by one of its operational creditors. A two-member NCLAT bench has upheld the earlier orders of the Mumbai-bench of the National Company Law Tribunal (NCLT), which had on May 27, 2025 rejected the petition on the grounds of a pre-existing dispute. NCLAT upheld the findings of NCLT, saying it "has committed no mistake" in finding that the email chain between appellant Air Wave Technocrafts and Voltas "reflects ongoing disputes" regarding work certification, amounts, and supporting documentation. "We see no reason to take a different view in the matter from that of the Adjudicating Authority (NCLT) in rejecting the Section 9 application on valid grounds of pre-existing disputes. In result, we find no merit in the Appeal. We find no reasons to interfere with the impugned order. The Appeal is dismissed," said NCLAT. NCLAT order came over a petition fil
Voltbek Home Appliances, a joint venture between Voltas and Turkish firm Arelik, narrowed its losses to Rs 241.89 crore in FY25 while its revenue from operations rose 39.5 per cent to Rs 2,235.53 crore. According to the latest annual report of the Tata Group firm, Voltbek also achieved robust volume growth of 57 per cent on a year-on-year basis, outperforming the industry, which experienced single-digit growth in key categories. In the preceding financial year ended March 2024, the joint venture had recorded a revenue from operations at Rs 1,602.87 crore and a loss of Rs 267.09 crore. "Voltbek, the company's home appliances joint venture, recorded a 56 per cent year-on-year growth in volumes, with notable market share gains in refrigerators and washing machines," said Voltas. Moreover, in FY25, Voltas invested Rs 102.41 crore in the share capital of Voltbek Home Appliances Private which was established in 2017 by the Tata group firm and Arelik, a Turkish multinational household ...