The National Company Law Appellate Tribunal has dismissed a plea against United Telecoms Ltd, stating that the Insolvency & Bankruptcy Code is not a recovery mechanism. The Chennai bench had also refused to entertain a petition from operational creditors. The tribunal upheld the order by the Bengaluru bench of the National Company Law Tribunal, which had dismissed the plea moved by an operational creditor claiming a default of Rs 8.46 crore against United Telecoms Ltd.