India, Jan. 28 -- The National Company Law Appellate Tribunal (NCLAT) has reportedly ruled in favour of FMCG major Hindustan Unilever Limited (HUL) while hearing an alleged insolvency plea filed by an operational creditor.

According to an Economic Times report, the petition was filed by Lalithambica Enterprises, accusing HUL of breaching the Insolvency & Bankruptcy Code (IBC).

On Monday (27 January), the Mumbai bench of the appellate tribunal upheld an order, liberating HUL from the allegations.

(The story will be updated soon)

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