Corporate Law
NCLT Ahmedabad Orders Dissolution of Siddhi Vinayak Logistic Limited After Completing Liquidation Process
Despite Pending Legal Proceedings and Unrelinquished Secured Assets by SBI, Tribunal Permits Dissolution Under Amended I...
NCLT Ahmedabad Bench Orders Dissolution of Captivate Foods Pvt. Ltd. Amid Absence of Traceable Assets
Despite Outstanding Income Tax Dues, NCLT Rules Liquidation Continuation Futile; Bank of India's Charge on Assets Render...
NCLT New Delhi Bench Rejects CIRP Petition over Royalty Dispute, Emphasizes CIRP Not for Debt Recovery
Tribunal holds royalty dues under publishing agreement can be operational debt, but rejects application due to lack of c...
NCLT Admits Punjab National Bank's Petition to Initiate CIRP Against SVOGL Oil Gas and Energy Limited Despite Pending Winding Up Proceedings
NCLT Rules Winding Up Not at Irreversible Stage; Upholds Insolvency and Bankruptcy Code's Revival Mechanism Over Liquida...
NCLT Mumbai Refuses Restoration of Application Dismissed for Non-Appearance; Change of Counsel Not Sufficient Cause
Tribunal emphasizes strict adherence to procedural rules under NCLT Rules, 2016 Rule 48(2), underscoring that mere chang...
NCLAT Sets Aside Contempt Conviction for Non-Compliance with Insolvency Order, Remands Matter for Fresh Hearing
NCLAT holds that wilful disobedience must be established by framing specific charges; directs reconsideration of contemp...
NCLAT Upholds Suspension of Insolvency Professional Over Irregular Private Sale of Corporate Debtor
Tribunal Declines Interim Stay on Disciplinary Order Against Kannan Tiruvengadam, Citing Breach of Protocol and Compromi...
NCLAT Sets Aside Cancellation of Insolvency Professional's Registration, Calls for Reconsideration of Penalty in Homebuyers' Resolution Case
Principal Bench of NCLAT holds that failure to maintain formal minutes and concurrence to timeline extension without pri...
NCLT Chandigarh Bench Grants Final Time-Bound Opportunity to SEL Textiles Ltd. for Revival Before Liquidation
In a landmark ruling, the Tribunal directs Resolution Professional to invite fresh resolution plans emphasizing integrat...
NCLT Chandigarh Bench Directs Re-Verification of Homebuyers' Claims in SRS Real Estate Insolvency Case
Tribunal holds payments made to associate companies insufficient to classify claimants as financial creditors unless fun...
NCLAT Takes On Record Revised Timelines for Completion of 16 Supertech Real Estate Projects, Declines Interim Interference
Tribunal directs Apex Court Committee to file project-wise tentative completion dates and financial disclosures, emphasi...
NCLT Ahmedabad Directs Vehicle-wise Warranty Verification for Tata EV Fleet Amid Corporate Insolvency Proceedings
Resolution Professional's plea for blanket warranty coverage rejected; Tribunal mandates cooperation between Tata Motors...
NCLT Ahmedabad Rejects Late Claim of Operational Creditor After Approval of Resolution Plan in Techno Forge Limited CIRP
Tribunal holds that claims not filed during CIRP cannot be entertained post-plan approval; Execution of civil decree bar...
NCLT Initiates Insolvency Resolution Process Against Personal Guarantor Raj Kumari Garg in Rs. 67.7 Crore Debt Case
Tribunal holds guarantee invocation date as limitation start, rejects discharge claim despite restructuring and resoluti...
NCLT Ahmedabad Upholds Resolution Professional's Partial Rejection of Toyota Financial Services' Claim in CIRP of Blu-Smart Fleet Pvt. Ltd.
Disputed Liability Over Rs. 23 Crores for Undelivered Vehicles Not Admitted; Applicant Directed to Pursue Contractual Re...
NCLT Ahmedabad Admits CIRP Against Sharanam Infraproject for Rs. 10.35 Crore Operational Debt
Tribunal holds liquidity crunch and restructuring plea no defence in absence of pre-existing dispute; Interim Resolution...
NCLT Ahmedabad Admits CIRP Petition Against Gujarat Toolroom Limited Over Rs. 26.20 Crore Operational Debt
Tribunal holds that financial difficulties do not bar initiation of insolvency proceedings where no pre-existing dispute...
NCLT Bengaluru Bench Admits CIRP Petition Against Karnataka Food and Civil Supplies Corporation, Holding Government Companies Amenable to Insolvency Proceedings
Tribunal rules sovereign functions do not exempt State Government Company from Insolvency and Bankruptcy Code; procureme...
NCLT Kochi Bench Dismisses EPFO Appeal on Estimated Provident Fund Claims in Peejay Agro Foods Liquidation
Tribunal holds only crystallised liabilities existing on liquidation commencement date are admissible; rejects EPFO clai...
NCLT Kochi Bench Directs Directors of Goodwin Packpet Pvt Ltd to Deposit Cash Balance in Liquidation Account
Tribunal holds all directors jointly liable to deposit Rs. 2.07 lakh as cash-in-hand reflected in company's financials; ...
NCLT Mumbai Bench Approves Going Concern Sale of GENRX Pharmaceuticals, Grants Capital Restructuring and Limited Clean Slate Reliefs to Bajaj Healthcare
Tribunal permits issuance of fresh equity shares, reconstitution of board, and transfer of corporate debtor ownership; c...
NCLT Mumbai Bench Allows Fresh Insolvency Resolution Process for Somerset Constructions, Regularises CIRP Period
Tribunal permits re-initiation of CIRP with fresh Form G issuance after rejecting earlier resolution plans; emphasises t...
NCLAT Sets Aside Liquidation Order, Upholds Committee of Creditors' Unanimous Decision to Restore CIRP in Supreme Best Value Tollways Case
National Company Law Appellate Tribunal clarifies discretionary powers of Adjudicating Authority under Section 33(1A) of...
NCLAT Upholds Admission of Insolvency Plea Against Corporate Debtor Despite Minor Invoice Address Discrepancy
Tribunal Rules Supply of Goods Proven via TDS Deduction, GST Credit Claims, and Ledger Entries; PIN Code Mismatch Insuff...
NCLAT Stays Admission of Section 9 Insolvency Petition Against Polycab, Directs Deposit of Operational Debt
Appellant Bharat Ajay Jaisinghani Offers to Deposit Full Operational Debt Amidst Pre-Existing Payment Dispute with Asier...
NCLT Ahmedabad Admits Gujarat Integrated Maritime Complex Pvt. Ltd. into Corporate Insolvency Resolution Process under IBC 2016
IL&FS Group Subsidiary Placed in "Red List" for Financial Distress, Board and Shareholders Approve CIRP Initiation; Mora...
NCLT Indore Directs Suspended Directors and Erstwhile Resolution Professional to Furnish Corporate Debtor's Records in Liquidation Proceedings
Tribunal holds that Resolution Professional remains obligated to cooperate post-resolution plan approval; successful res...
NCLT Indore Admits Insolvency Petition Against Personal Guarantor for Rs. 3.95 Crores; Defect in Authority Cured by Substitution
Tribunal Holds Defect in Filing Authority Curable, Application Within Limitation, Initiates Insolvency Resolution Proces...
NCLT Principal Bench Admits Insolvency Petition Against Personal Guarantor of Corporate Debtor, Declares Moratorium
Yes Bank's plea to initiate insolvency proceedings against personal guarantor upheld; SARFAESI notice under Section 13(2...
NCLT Jaipur Bench Dismisses Application Declaring Transfer of Jewellery to Son as Preferential Transaction in Personal Guarantor Bankruptcy Case
Tribunal holds that mere transfer to an associate within two-year look-back period does not satisfy statutory conditions...
NCLT Kolkata Admits CIRP Petition by Evanie Eco Nest Home Buyers Association Against Developer Evanie Infrastructure Pvt. Ltd.
Tribunal holds petition maintainable despite corporate debtor's challenge on allottee threshold; appoints new Interim Re...
NCLT Allahabad Bench Admits Insolvency Petition Against Personal Guarantor Rasik Khandelwal, Initiates Personal Insolvency Resolution Process
Tribunal holds initiation of CIRP against principal borrower not a precondition; personal guarantor's joint and several ...
NCLT Allahabad Bench Admits Insolvency Petition Against Zaneka Healthcare Limited; CIRP Initiated
Operational Creditor Boston Ivy Healthcare Solutions succeeds in triggering insolvency proceedings over unpaid dues exce...
NCLAT Upholds Rejection of Resolution Plan for Worlds Window Exim Pvt. Ltd.; Orders Liquidation and Investigation
Tribunal finds resolution plan failed mandatory regulatory requirements despite CoC approval; clarifies plan value need ...
NCLT Bengaluru Dismisses Section 9 Petition of APL Apollo Tubes Against Tanisha Scaffolding Citing Plausible Dispute Over Supply of Goods
Tribunal holds that mere invoices and ledger entries without delivery proof or acknowledgment insufficient to establish ...
NCLT Hyderabad Rules Secured Creditor's Non-Realised Asset Becomes Part of Liquidation Estate Under IBC
LIC Housing Finance's Failure to Realise Madhapur Property Security Interest Within 180 Days Mandated by IBBI Regulation...