New Delhi, Apr 7 (IANS): Corporate tribunal NCLT has initiated insolvency proceedings against Ananda Divine Developers.

The proceedings were initiated after ICICI Prudential Venture made a plea to the New Delhi-based bench of the National Company Law Tribunal (NCLT) for claiming unpaid dues.

In a statement, ATS Infrastructure CMD Getamber Anand, who is also a director in Ananda Divine Developers, said: "We have received a copy of the order and we are in the middle of studying the same. However, the amount under consideration is a very small sum and the related project is completed and handed over.

"This will have no bearing on our other projects. Meanwhile, we have mutually closed this dispute or matter with ICICI Pru and will be filing a settlement soon."

Last month, the NCLT had declared Noida-headquartered realty major Supertech as insolvent while admitting a plea filed by the Union Bank of India over non-payment of its dues.