Corporate Law
NCLT admits Naksh Steel’s insolvency plea against Auri Grow India over unpaid steel supply dues
Tribunal says admitted principal debt and authenticated default were enough to trigger CIRP; dispute over interest raise...
NCLT Orders Forensic Audit in Dispute Over Rs 1.34 Crore Security Deposit in Gensol CIRP
Tribunal says conflicting emails and ledger entries must be verified before deciding whether Mufin Green Finance adjuste...
NCLT admits insolvency plea against personal guarantor of Labhanshi Multitrade, holds SARFAESI notice valid invocation of guarantee
Tribunal says bank’s Section 13(2) notice expressly invoking guarantee was enough to trigger default; rejects objection ...
NCLT admits insolvency plea against three personal guarantors of Prafful Overseas in Equentia Financial case
Tribunal holds amended Section 96 of IBC applies retroactively, clearing way for insolvency resolution process and morat...
NCLT Kolkata Holds Resolution Plan Timelines Must Run From 11 August 2025, Not Original Approval Date
Tribunal says appellate challenge to personal-guarantee directions materially delayed implementation; directs revised pa...
NCLT Chennai admits personal insolvency plea of guarantor V. Lakshmi
Tribunal holds guarantor’s liability co-extensive with borrower’s debt, initiates insolvency resolution process and impo...
NCLAT Upholds Replacement of Resolution Professional in Maylari Agro Insolvency Case
Tribunal says CoC’s commercial wisdom must prevail, expunges adverse remarks against former RP, and sends fee dispute ba...
NCLT Mumbai Rejects Uniton Infra’s Insolvency Plea Against Shapoorji Pallonji Over Section 10A Bar and Payment Contingency
Tribunal holds debt assignment valid, but finds one invoice hit by Covid-era suspension and the remaining claim below th...
NCLAT Upholds Eviction of Related-Party Occupants From Corporate Debtor’s Properties in Liquidation
Tribunal holds liquidator can seek possession under IBC before NCLT; unregistered lease deeds and non-payment of rent we...
NCLT Rejects Bhagat Family’s Plea to Stop Liquidation Sale of Shree Sai Rolling Mills Assets
Tribunal holds that an unaccepted OTS cannot be enforced after liquidation begins and upholds the completed e-auction sa...
NCLT Chennai Holds Secured Creditor Must Pay Liquidation Costs Under Regulation 21A After Retaining Security Interest
Punjab National Bank directed to pay Rs.3.25 lakh balance after failing to fully contribute toward CIRP and liquidation ...
NCLT Refuses to Halt Liquidation Sale, Dismisses Deceased Promoter’s Heirs’ Plea for OTS Acceptance
Guwahati tribunal holds that an unaccepted settlement offer cannot override a concluded e-auction sale after full paymen...
NCLT Declares Rs 13.5 Lakh Payments by Insolvent Pellet Energy Systems as Preferential Transactions
Tribunal holds repayment of unsecured loan and selective vendor payment were outside ordinary course of business; benefi...
NCLAT Rejects Appeal as Time-Barred After Wrong Forum Filing Under IBC
Tribunal holds that a wrongly filed appeal under Section 61 of the IBC cannot extend limitation for a fresh appeal under...
NCLAT Rejects 202-Day Delay Condonation Plea in Liquidator’s Remuneration Appeal
Tribunal holds that counsel’s personal difficulties cannot excuse litigant’s failure to cure defects; appeal dismissed f...
NCLAT Sets Aside Dismissal of Company Petition for Non-Filing of Family Settlement Document
Tribunal says oral family settlement plea must be considered on merits; past conduct cannot be used to defeat adjudicati...
NCLAT Upholds CoC’s Power to Replace Resolution Professional at Any Stage Under IBC
Tribunal says adjudicating authority cannot question reasons for replacement or substitute CoC’s choice, expunges advers...
NCLT Kolkata Rejects Insolvency Plea Over OCDs, Says Early Redemption Right Belonged Only to Corporate Debtor
Tribunal holds financial creditor could not demand premature redemption of optionally convertible debentures; also finds...
NCLAT Upholds CIRP Admission Against Talent Unlimited Online Services, Rejects Fraud Allegation Raised by Investor
Tribunal says debt and default were clearly established; holds Section 65 plea of fraudulent initiation cannot be raised...
SEBI Closes Adani Group Adjudication Proceedings After Settlement Over Disclosure and Audit Report Violations
Adani Enterprises and four other group companies pay settlement amounts totaling over Rs. 1.50 crore; SEBI disposes of p...
NCLT Rejects SBI’s Insolvency Plea Against Dinesh Shahra as Time-Barred
Tribunal holds personal guarantor remains liable despite corporate debtor’s resolution plan, but says petition under IBC...
NCLT Rejects Landlord’s Bid to Recover Jhajjar Plot from Liquidator, Cites Pending Civil Suits and Suppression of Facts
Tribunal says dispute over leased land, sub-lease rights and possession must be decided by civil court; holds Section 60...
NCLAT Upholds Joint and Several Liability of Personal Guarantors, Rejects Plea of Limited Guarantee in Archon Engicon Loan Case
Committee of Creditors’ Rejection of Repayment Plan Confirmed; NCLAT Rules Personal Guarantors Cannot Reopen Liability D...
NCLAT Rules Complainant in IBBI Disciplinary Proceedings as "Person Aggrieved" Entitled to Appeal
Principal Bench of NCLAT holds that complainants initiating disciplinary action under IBC can maintain appeals against f...
NCLAT Upholds Exclusion of Suspended Director's Representative from CoC Meeting; Resolution Plan by Rungta Mines Limited Stands Approved
Majority Opinion Validates Procedural Safeguards Under IBC Regulations, Affirms No Violation in Document Supply Post-Con...
NCLAT Upholds Approval of Resolution Plan Despite Allegations of Concealment and PMLA Proceedings
Appellate Tribunal affirms primacy of CoC's commercial wisdom; dismissal of appeal by Suraksha Realty Ltd. challenging B...
NCLT Chennai Rules Against Classifying SREI Entities as Related Parties in CIRP of AMRL Hitech City Limited
Tribunal directs Resolution Professional to admit full claims of SREI Equipment Finance and SREI Infrastructure Finance ...
NCLT Guwahati Bench Upholds Execution of Final CLB Order Directing Transfer of 30 Lakh Preference Shares
Tribunal affirms jurisdiction under Companies Act, 2013 to enforce erstwhile CLB orders; rejects respondent's plea of sh...
NCLT Mumbai Admits CIRP Petition Against Wardha Mega Food Park Pvt. Ltd. for Default on Interest-Free Unsecured Loan
Tribunal holds related-party interest-free loan as "financial debt" under IBC, 2016; rejects corporate debtor's plea on ...
NCLAT Rules That Greater Noida and NOIDA Authorities Are Not Secured Creditors Under Insolvency Code Amendments
Amendment to Insolvency and Bankruptcy Code, 2026 Clarifies Statutory Charges Do Not Constitute Security Interest; Resol...
NCLT Kolkata Rules Cancellation of Allotment Without Refund Invalid in Riverbank Developers Insolvency Case
Resolution Professional Directed to Reinstate Homebuyer's Rights or Provide Alternative Allotment/Full Refund with Inter...
NCLT Mumbai Directs Bank to Return Excess Margin Money Held During Corporate Insolvency Resolution Process
Bank Guarantees' Margin Money Must Be Released Post Expiry; Enforcement Actions During Moratorium Barred Under IBC Secti...
NCLT Mumbai Bench Dismisses CIRP Petition Against Sumer Radius Realty, Citing Pending Fraud Investigations and Legal Inconsistencies
Tribunal holds that a financial creditor cannot simultaneously challenge a transaction as fraudulent and enforce it as a...
NCLT Mumbai Bench Orders Restoration of Over Rs. 58 Crores in Preferential Transactions in Sunshine Housing Insolvency Case
Tribunal holds redemption of preference shares and payments to related and unrelated parties during look-back period as ...
NCLT Mumbai Bench Rejects Perjury Allegations Against Omkara Assets Reconstruction in Insolvency Proceedings
Tribunal emphasizes that minor discrepancies in financial statements do not warrant perjury proceedings unless deliberat...
NCLT Mumbai Bench Orders Liquidation of European Projects & Aviation Ltd. Following Failure to Secure Resolution Plan
Committee of Creditors Unanimously Approves Liquidation; New Liquidator Appointed as Per 2026 IBC Amendments...