TVS Supply Chain Solutions Limited has resolved its long-standing payment dispute with ZTE Telecom India, leading to the withdrawal of its appeal before the National Company Law Appellate Tribunal (NCLAT).
The development marks the closure of legal proceedings linked to an insolvency petition over an alleged unpaid amount of ₹4.27 crore and may be viewed as a procedural resolution rather than a fresh operational trigger.
TVS Supply Chain informed the appellate tribunal that the matter had been amicably settled between both parties and sought permission to withdraw its appeal. The NCLAT permitted the withdrawal, formally bringing the proceedings to an end.
The appeal had been filed against an earlier order that declined to initiate insolvency proceedings against ZTE Telecom India.
The dispute traces back to service agreements entered into between the two companies for logistics and supply chain services related to telecom projects. TVS had earlier approached the National Company Law Tribunal (NCLT) under Section 9 of the Insolvency and Bankruptcy Code, alleging a payment default of ₹4.27 crore.
According to the company’s claim, the disputed dues related to invoices raised over several years, with the period under contention spanning from 2012 to 2019.
In its previous order, the NCLT had dismissed the insolvency petition after noting that the matter involved a pre-existing dispute. The tribunal observed that invoice reconciliations, audit queries and objections had already been raised before the statutory demand notice was issued.
This indicated that the debt amount was under dispute and had not been clearly acknowledged by the respondent, which is a significant consideration in insolvency proceedings.
The disagreement primarily revolved around invoices raised under master service agreements. TVS had contended that payments were either delayed or partially made, while ZTE had cited discrepancies in billing and questioned earlier invoices.
Email exchanges and audit-related communication between the parties had reportedly taken place over several years, contributing to the legal dispute before the matter was ultimately settled.
Shares of TVS Supply Chain Solutions Limited were trading at ₹116.55 as of 11:17 AM on April 20, 2026, up ₹0.86 or 0.74% from the previous close of ₹115.69.
The move in the stock remained relatively measured following the update.
The settlement between TVS Supply Chain and ZTE Telecom India concludes a dispute that had been under legal consideration for several years. With the NCLAT appeal now withdrawn, the issue appears to have been resolved outside the insolvency framework. Investors may continue to monitor whether the resolution has any material financial implications in subsequent disclosures.
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Published on: Apr 20, 2026, 11:42 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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