NCLAT upholds insolvency proceedings against Nyka Steel guarantor over UCO Bank dues
The National Company Law Appellate Tribunal (NCLAT) upheld insolvency proceedings against a personal guarantor of Nyka Steel on August 15, 2026. This decision follows a February 3 ruling by the National Company Law Tribunal (NCLT) that admitted UCO Bank's plea regarding dues. The outcome may impact ongoing Corporate Insolvency Resolution Process (CIRP) for Nyka Steel.