AdvertisementPhoenix ARC Pvt. Ltd Vs JCT Limited (NCLT Chandigarh) The National Company Law Tribunal (NCLT), Chandigarh Bench, dismissed the application filed by Asset Reconstruction Company (India) Limited (ARCIL), acting as trustee of ARCIL-JCT III Trust, challenging the Resolution Professional’s (RP) rejection of its financial creditor claim in the Corporate Insolvency Resolution Process (CIRP) of JCT Limited. ARCIL sought quashing of the RP’s letter dated 07.01.2026 rejecting its claim of ₹34,82,31,36,084, recognition of the claim as financial debt under Sections 5(7) and 5(8) of the Inso...