Corporate Law
Bankruptcy Code - Resolution Plan approval process - Non-communication of individual scores does not render the process invalid.
NCLAT Upholds CoC's Decision in Insolvency Case, Dismisses Appeal by Consortium of Govindrao Sable The Tribunal affirms ...
NCLT Orders Transmission of Shares Without Succession Certificate in Landmark Judgment
Tribunal Directs Share Transfer on Submission of Legal Heir Certificate and Apostilled Documents ...
NCLT Dismisses Arthan Finance's Insolvency Petition Against Inditrade Capital Over Uninvoked Guarantee
Tribunal Rules Invocation of Guarantee is Essential Before Initiating Insolvency Proceedings...
NCLAT Dismisses Appeals: MoU Between Airwill JKM and Cadillac Infotech Not a Financial Debt
The National Company Law Appellate Tribunal upholds NCLT's decision, ruling that transactions for joint plot development...
NCLT Orders Liquidation of Sri Pavana Keerthi Hotels India Pvt Ltd After Failed Resolution Plan
Tribunal directs liquidation under IBC due to non-compliance by Successful Resolution Applicant, appointing Mr. Govada V...
NCLAT Overturns NCLT's Decision on Auction Purchaser's Shareholding Restructuring
Appellate Tribunal Upholds Auction Purchaser's Autonomy, Citing Jurisdictional Overreach by NCLT...
Resolution Plan under Insolvency and Bankruptcy Code extinguishes all claims, including statutory dues
Calcutta High Court Upholds Tribunal Decision on Insolvency-Related Tax Claims Tata Steel's Appeal for Tax Refund Denied...
NCLT Approves Demerger of Bennett, Coleman & Company Limited’s EIBME Business
Mumbai Bench of NCLT Greenlights Composite Scheme of Arrangement; Effective Date Set for April 2026...
NCLAT Sets Aside NCLT Order on Property Attachment, Calls for Fresh Adjudication
Tribunal Finds Manifest Illegality in NCLT's Failure to Ascertain Attachment Status by Enforcement Directorate...
NCLAT Dismisses Appeal by Astral Agro Ventures, Upholds CoC's Resolution Plan Approval
Tribunal rules PRA lacks locus standi to challenge resolution plan; imposes Rs. 15 lakh costs on appellant for delaying ...
NCLAT Quashes NCLT Order Due to Procedural Flaws, Upholds Principles of Natural Justice
Tribunal emphasizes fair hearing; directs fresh adjudication of preferential transaction case under IBC....
NCLT Approves Piramal Fund Management's Capital Reduction Plan
Tribunal sanctions utilization of Securities Premium Account to offset losses, ensuring compliance with statutory requir...
NCLT Mumbai Bench Approves Sterling Healthcare Resolution Plan
Resolution Plan Gains Unanimous Support from Committee of Creditors; Statutory Dues Stand Extinguished...
NCLAT Upholds State Tax Department's Secured Creditor Status in Insolvency Proceedings
Tribunal Affirms Retrospective Application of Supreme Court's Ruling in Rainbow Papers Case, Securing Tax Department's C...
NCLT Orders Liquidation of Pioneer Gas Power Limited Due to Failed Resolution Attempts
Hyderabad Bench of NCLT Initiates Liquidation After Resolution Plans Fail to Garner Necessary Approval from Creditors...
Tribunal Upholds Strike-Off of Dormant Company, Denies Restoration Appeal
National Company Law Tribunal Kochi Bench dismisses appeal by Sakthan Builders and Developers, citing prolonged non-comp...
NCLAT Orders Reassessment of Resolution Plans Due to Asset Valuation Irregularities
Resolution Plan Rejected; Fresh Valuation and Form G Issuance Directed to Correct Material Irregularities in CIRP Proces...
Appeals under IBC : Procedural negligence or lack of diligence does not constitute valid grounds for condonation.
This judgment underscores the rigorous adherence to procedural timelines mandated by the IBC and serves as a cautionary ...
Insolvency Code : Payment of gratuity dues is not separate or additional to the Employee Payment Amount
The ruling further highlighted that any additional dues arising from judicial pronouncements would be adjusted from the ...
NCLAT Upholds Validity of Insolvency Proceedings Against Personal Guarantors in LIC HFL Trustee Case
Tribunal Dismisses Appeals, Affirms Liability of Personal Guarantors as Co-Extensive with Corporate Debtor ...
Acknowledgment of liability in balance sheets extends limitation period
Ultimately, the NCLAT concluded that the Adjudicating Authority rightly admitted the Section 9 application, as the opera...
Liability of a director of a company for wrongful acts committed by employees is not automatic
The judgment brings relief to Agrawal, as the court deemed the continuation of criminal proceedings against him an abuse...
Operational debt claimed by applicant for unpaid salary dues - CIRP initiated
This decision underscores the tribunal's commitment to ensuring that legitimate claims under the Insolvency and Bankrupt...
CRIP : A shareholder or preference shareholder without contractual debt is not a "person aggrieved"
This judgment further solidifies the legal precedent that shareholders, without explicit debt-related rights, cannot int...
NCLAT Upholds Contract Termination by BIDA Amidst Insolvency Proceedings
The tribunal's judgment underscores the importance of distinguishing between contractual breaches and insolvency-trigger...
NCLT Directs Immediate Compliance with Financial Obligations in Jatayupara Tourism Project Dispute
Strict Penalties Imposed for Non-Compliance; License Cancellation Looms for Guruchandrika Builders...
Directors, including independent and non-executive directors, are liable for fraudulent conduct of business
The decision leaves the directors, including Anuradha Kapur, B. Lugani, Yogesh Kapur, Ankita Wadhawan, and Vivek Kumar A...
EGM : Shareholders have absolute right to remove directors unless there is procedural anomaly
The tribunal's decision has been welcomed by corporate governance advocates, who view it as a reaffirmation of the princ...
National Company Law Appellate Tribunal Upholds Insolvency Proceedings Against Majestic Hotels Limited
The decision upholds the NCLT's order for the initiation of insolvency proceedings, underscoring the statutory framework...
NCLT Approves Composite Scheme of Arrangement for Reliance Group Companies
The Regional Director and the Official Liquidator have also reviewed the scheme, finding no objections, thus paving the ...
NCLT Mumbai Denies Authum Investment's Plea to Alter Voting Decision in Insolvency Case
Ultimately, the NCLT's decision reinforces the sanctity of the CoC's commercial decisions and the integrity of the votin...
Modification of investigation agency does not amount to review or recall of earlier order
The tribunal dismissed the appeal, affirming that the modification merely changes the investigating agency without affec...
Striking off of Company name : Restoration requires proof that the company was in business at the time of striking off
The decision mandates the company to pay a cost of INR 1,00,000 to the Ministry of Corporate Affairs and comply with sta...
NCLT Chennai Allows Withdrawal of Insolvency Proceedings Against Vees Properties Ltd
Reliance Value Services Pvt. Ltd. and Vees Properties Ltd. Reach Settlement Before Formation of Creditors' Committee...
Personal Guarantor's liability does not get discharged merely due to resignation from the corporate debtor
In delivering the judgment, NCLAT reinforced the principles of continuing guarantees, emphasizing that resignation from ...
NCLT Kolkata Dismisses Insolvency Petition Against Simplex Infrastructures, Affirms Breach of Settlement Not Operational Debt
Tribunal rules breach of settlement agreement does not revive original operational debt under IBC, 2016; petition dismis...