SUPREME COURT
Can NCLT Allow Withdrawal Of CoC-Approved Resolution Plan? Supreme Court Reserves Verdict
Case Title : BANK OF INDIA VS. S.M KAMAL PASHA
Case Number : DIARY NO. - 37619/2026
The Supreme Court on Wednesday reserved its judgment on whether the National Company Law Tribunal can permit withdrawal of an application seeking approval of a resolution plan after the Committee of Creditors has approved the plan and submitted it to the Adjudicating Authority A Bench of Justices J.B. Pardiwala and K. Vinod Chandran was hearing Indian Bank's challenge against the National Company Law Appellate Tribunal's April 20, 2026, order concerning TD Toll Road Pvt Ltd, which had set aside the NCLT's decision allowing withdrawal of the resolution plan approval application.
Case Title : GREENOPOLIS WELFARE CONFEDERATION vs RAKESH KUMAR GUPTA AND ORS.
Case Number : C.A. No. 6792-6796/2023
CITATION : 2026 LLBiz SC 321
The Supreme Court has held that the National Company Law Tribunal (NCLT) can recall an order admitting insolvency proceedings if the jurisdictional facts on which the proceedings were based are later found to have been affected by fraud or collusion. The court, however, clarified that such a finding does not automatically mean that the entire Corporate Insolvency Resolution Process (CIRP) must end.
Supreme Court Orders Status Quo Over ₹54 Crore Deposit In Moser Baer Solar Asset Auction
Case Title: COMMITTEE OF CREDITORS OF MOSER BAER SOLAR LIMITED VS. JFC FINANCE (INDIA) LIMITED
Case Number: DIARY NO. - 59303/2026
The Supreme Court on Thursday directed parties to maintain status quo in a dispute concerning the ₹54 crore deposit made by JFC Finance (India) Ltd. in the fresh auction of assets of corporate debtor Moser Baer Solar Ltd.
The dispute concerns whether the Liquidator can retain JFC's deposit until the successful bidder pays the entire sale consideration of ₹168 crore.
Case Title : Modern Asset Versus KNK Construction Private Limited.
Case Number : Special Leave Petition (C) No.25068 of 2026
CITATION : 2026 LLBiz SC 329
The Supreme Court has held that an operational creditor who suffered a 99.28% haircut under an approved resolution plan can use its entire ₹12.26 crore claim to set off amounts found payable to a successful resolution applicant in arbitration.
Case Title : THE ASSISTANT COMMISSIONER OF CENTRAL TAX, CGST DIVISION VERSUS SREENIVASA RAO RAVINUTHALA AND ANOTHER
Case Number : CIVIL APPEAL NO. 7882 OF 2023
CITATION : 2026 LLBiz SC 333
The Supreme Court on Wednesday held that the limitation period for filing an appeal against an order of the National Company Law Appellate Tribunal (NCLAT) begins from the date of pronouncement of the order and cannot be postponed until a litigant chooses to apply for and collect a certified copy.
Profitable Companies Can Face Insolvency Proceedings If They Default On Loans: Supreme Court
Case Title : DEEPAK RAHEJA AND ANOTHER VERSUS OMKARA ASSETS RECONSTRUCTION PRIVATE LTD. AND ANOTHER
Case Number : CIVIL APPEAL NO.12195 OF 2025
CITATION : 2026 LLBiz SC 334
The Supreme Court on Thursday held that a company's profitability does not prevent insolvency proceedings under the Insolvency and Bankruptcy Code (IBC). A financial default, rather than commercial or balance-sheet insolvency, triggers the Corporate Insolvency Resolution Process (CIRP).
Committee Of Creditors Cannot Withdraw Resolution Plan After It Is Placed Before NCLT: Supreme Court
Case Title : Bank of India and Ors v. S.M Kamal Pasha and Ors
Case Number : Civil Appeal No. 12045 of 2026
CITATION : 2026 LLBiz SC 340
The Supreme Court on Monday held that the Committee of Creditors (CoC) cannot withdraw its approval of a resolution plan once it has been placed before the National Company Law Tribunal (NCLT) for approval under the Insolvency and Bankruptcy Code, 2016. The court examined Section 12A of the IBC, which provides for withdrawal of a corporate insolvency resolution process (CIRP) application with the requisite approval of the CoC, alongside Sections 30 and 31, which govern the approval of resolution plans.
Case Title : ECL Finance Ltd. and Anr. Versus Abhinav Mukherjee and Ors.
Case Number : Civil Appeal No.6268 of 2022
CITATION : 2026 LLBiz SC 342
The Supreme Court has held that a financial creditor need not exercise complete control over a corporate debtor to be treated as a related party under the Insolvency and Bankruptcy Code and excluded from its Committee of Creditors.
Supreme Court Seeks Proposals From NCLT, NCLAT Heads To Address Infrastructure Deficiencies
Case Title : IN RE: APPOINTMENT OF JUDICIAL AND TECHNICAL MEMBERS AND INADEQUATE INFRASTRUCTURE IN NATIONAL COMPANY LAW TRIBUNAL (NCLT) AND ANCILLARY ISSUES
Case Number : DIARY NO. - 28603/2026
The Supreme Court on Thursday directed the President of the National Company Law Tribunal (NCLT) and the Chairperson of the National Company Law Appellate Tribunal (NCLAT) to submit a comprehensive proposal outlining measures to address infrastructure deficiencies and improve the functioning of the tribunals.
NCLT, NCLAT Staff Recruitment System 'Completely Hijacked' By MCA: Supreme Court
Case Title : ZIYAUL HAQ VS. UNION OF INDIA
Case Number : W.P.(C) No. 1385/2026
The Supreme Court on Thursday criticised the Ministry of Corporate Affairs' control over the recruitment system of the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT). Chief Justice of India Surya Kant observed that the system had been “completely hijacked” by the Ministry.
Case Title : RITESH PRAKASH ADATIYA VS. INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
Case Number : DIARY NO. - 62845/2026
The Supreme Court on Thursday refused to interfere with the National Company Law Appellate Tribunal's (NCLAT) order denying interim relief to resolution professional Ritesh Prakash Adatiya
HIGH COURT
Case Title : M/s Tata Steel Limited v. State Pollution Control Board
Case Number : Crl MC No. 2406 of 2022
CITATION : 2026 LLBiz HC(ORI) 25
The Orissa High Court has quashed criminal proceedings against Tata Steel Limited (TSL) arising from alleged violations of the Air (Prevention and Control of Pollution) Act, 1981 by erstwhile Bhushan Steel Limited (BSL). A coram of Justice Sibo Sankar Mishra was dealing with a petition filed by TSL under Section 482 of the Criminal Procedure Code seeking quashing of proceedings pending before the SDJM, Dhenkanal, as well as the order taking cognizance against the company.
Pending Suit Against Company Under Liquidation Requires NCLT Leave To Proceed: Patna High Court
Case Title : Aneja Constructions (India) Private Limited v. M/s Kanti Bijlee Utpadan Nigam Limited and Ors
Case Number : Commercial Appeal No. 6 of 2026
CITATION : 2026 LLBiz HC(PAT) 32
The Patna High Court has held that a pending commercial suit involving a company under liquidation cannot proceed without leave of the National Company Law Tribunal (NCLT).
DEL Status Cannot Continue For Pre-CIRP Defaults After IBC Resolution Plan: Delhi High Court
Case Title : Waaree Transpower Private Limited v. Union of India and Anr
Case Number : WP(C) No. 6553 of 2026
CITATION : 2026 LLBiz HC(DEL) 1072
The Delhi High Court has held that continuing a company's Denied Entry List (DEL) status to enforce export obligations arising before the commencement of its insolvency proceedings would violate the “clean slate” principle under the Insolvency and Bankruptcy Code (IBC).
Case Title : Jahir Ussain vs U.A.Rahman Batcha & Ors.
Case Number : CMA(MD) No. 1277 of 2026
CITATION : 2026 LLBiz HC (MAD) 302
The Madras High Court at Madurai recently held that an attempt by a debtor to transfer property to defeat creditors may justify attachment before judgment under Order 38 of the Code of Civil Procedure (CPC). However, such an attempt by itself does not amount to an “act of insolvency” under Section 6 of the Provincial Insolvency Act, 1920.
Case Title : MOSER BAER INDIA LIMITED THROUGH ITS LIQUIDATOR MR ANIL KOHLI vs UNION OF INDIA & ORS.
Case Number : W.P.(C) 13751/2026
The Delhi High Court will examine whether companies undergoing liquidation can seek exemption from the mandatory pre-deposit requirement under Section 107(6) of the Central Goods and Services Tax (CGST) Act. The issue is whether the requirement can be relaxed in view of the statutory distribution mechanism under the Insolvency and Bankruptcy Code (IBC).
Case Title : Bhadrashree Steel & Power Ltd. through Its Authorised Representative Versus The State of Maharashtra through The Revenue and Forest Dept. and Ors
Case Number : WRIT PETITION NO. 1094 OF 2022
CITATION : 2026 LLBiz HC (BOM) 575
The Bombay High Court has held that stamp duty on property sold through a liquidation auction conducted by an NCLT-appointed liquidator can be calculated on the auction value rather than the Annual Statement of Rates (ASR) value when the auction process is transparent and there is no basis to suspect deliberate undervaluation.
Kerala High Court Refuses To Stay Byju's Insolvency, Admits Review Plea Seeking CBI, ED Probe
Case Title : Voizzit Technology Pvt Ltd and Anr v. The Director and Ors
Case Number : RP No. 1228 of 2026
The Kerala High Court on Tuesday refused to stay the corporate insolvency resolution process (CIRP) of Think and Learn Private Limited, the parent company of BYJU'S. The Court admitted a review petition alleging that a document relied on by GLAS Trust Company LLC to establish its authority to represent lenders was forged.
Case Title : M/s. EMC Limited v. The State Tax Officer
Case Number : W.P.(MD)No.25527 of 2026
CITATION : 2026 LLBiz HC (MAD) 331
The Madurai Bench of the Madras High Court has held that a company sold as a going concern during liquidation cannot claim that its liabilities are automatically extinguished under the clean-slate principle of insolvency law.
Insolvency Moratorium Does Not Bar Corporate Debtor From Pursuing Counterclaims: Bombay High Court
Case Title : A A Estates Pvt. Ltd. v. Govind Niwas Co-operative Housing Society Ltd.
Case Number : Commercial Arbitration Petition (L) No. 12886 of 2025
CITATION : 2026 LLBiz HC (BOM) 613
The Bombay High Court has held that an insolvency moratorium does not prevent a corporate debtor from pursuing its own claims in arbitration, including a counterclaim against the party that initiated proceedings against it.
NCLAT
Case Title : Assistant Commissioner Vs Shruti Gupta & Ors
Case Number : Company Appeal (AT) (Insolvency) 745/2025
CITATION : 2026 LLBiz NCLAT 373
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has held that a secured creditor's failure to communicate its decision regarding its security within 30 days of commencement of liquidation results in the assets covered by the security being presumed to form part of the liquidation estate. “As the creditor did not give its choice of non-relinquishment of security within 30 days, it is presumed that the creditor relinquished its security against the Corporate Debtor,” a bench comprising Judicial Member Justice Sharad Kumar Sharma, Technical Member Arun Baroka and Indevar Pandey observed.
Case Title : Dr. Subhash Chandra Personal Guarantor VS Shiv Nandan Sharma Resolution Professional
Case Number : Company Appeal(AT)(Ins) 1818/2026 & 1856/2026
The National Company Law Appellate Tribunal (NCLAT) on Tuesday issued notice in an appeal filed by Essel Group Chairman Subhash Chandra. The appeal challenges a September 1 order of the Delhi Bench of the National Company Law Tribunal (NCLT), which restrained him from alienating his assets during insolvency proceedings initiated against him as a personal guarantor.
NCLAT Refuses To Set Aside CIRP Admission On Post-Admission Settlement, Directs IRP To Approach NCLT
Case Title : Vijaybhai Dhanjibhai Detroja v. Vidres India Ceramics Private Limited & Anr
Case Number : Comp. App. (AT) (Ins) No. 1698 of 2026
CITATION : 2026 LLBiz NCLAT 375
The National Company Law Appellate Tribunal (NCLAT) at New Delhi has refused to set aside an insolvency admission order solely on the basis of a settlement reached after the Corporate Insolvency Resolution Process (CIRP) had begun. A bench of Judicial Member Justice Mohammad Faiz Alam Khan and Technical Member Naresh Salecha held that a settlement reached after admission of a Section 9 application cannot by itself efface the admission order or bring the CIRP to an end.
Case Title : EASTERN POWER DISTRIBUTION COMPANY OF ANDHRA PRADESH LIMITED. Vs DAULAT RESOLUTION SERVICES PVT. LTD
Case Number : Company Appeal (AT) (Insolvency) 347/2026
CITATION : 2026 LLBiz NCLAT 374
The National Company Law Appellate Tribunal (NCLAT) has observed that litigants should not be made to suffer when lawyers, because of professional misunderstandings, grudges or monetary disputes, stop effectively pursuing their cases.
NCLAT Issues Notice To Eros On Phantom Studios' Insolvency Appeal
Case Title : Phantom Studios India Pvt. Ltd. Vs. Eros International Media Ltd.
Case Number : Comp. App. (AT) (Ins) No. 1800 of 2026
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has issued notice to Eros International Media Ltd. in an appeal filed by Phantom Studios India Pvt Ltd against dismissal of its insolvency plea.
Restoration Plea Filed Beyond 30 Days Can't Be Entertained Without Condonation Of Delay: NCLAT Delhi
Case Title : Vivekanand Rai & Anr. v. Chemie-Tech Projects Ltd
Case Number : Comp. App. (AT) (Ins) No. 1924 of 2025
CITATION : 2026 LLBiz NCLAT 376
The Principal Bench of the National Company Law Appellate Tribunal (NCLAT) at New Delhi, on 18 September held that an application seeking restoration of a company petition dismissed for non-appearance under Rule 48(2) of the NCLT Rules, 2016 must be filed within 30 days of the dismissal. If filed beyond this period, the applicant must first seek condonation of delay.
Subsequent CIRP Makes Earlier Appeal Against Insolvency Rejection Infructuous: NCLAT New Delhi
Case Title : Mekaster Finlease Limited v. Prayag Polytech Private Limited
Case Number : Company Appeal (AT) (Ins.) No. 1582 of 2025
CITATION : 2026 LLBiz NCLAT 377
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 18 September held that an appeal against rejection of a creditor's application to initiate Corporate Insolvency Resolution Process (CIRP) becomes infructuous once CIRP has already commenced against the same Corporate Debtor in a subsequent proceeding.
OTS Failure Cannot Create Fresh Default For CIRP, Original Debt Position Revives: NCLAT Chennai
Case Title : UMA MAHESWARI Vs UCO BANK & RAMAKRISNAN SADASIVAN
Case Number : Company Appeal (AT) (Insolvency) 136/2023
CITATION : 2026 LLBiz NCLAT 378
On 28 September, the National Company Law Appellate Tribunal (NCLAT) at Chennai held that failure to comply with the terms of a One-Time Settlement (OTS) does not constitute a fresh default for initiating the Corporate Insolvency Resolution Process (CIRP).
Personal Guarantor Who Settled Company Debt Cannot Claim Financial Creditor Status: NCLAT
Case Title : Tamil Nadu Mercantile Bank Limited Vs E.Santhanalakshmi & Ors
Case Number : Company Appeal (AT) (Insolvency) 19/2025, 20/2025, 21/2025, 430/2025
CITATION : 2026 LLBiz NCLAT 380
The National Company Law Appellate Tribunal (NCLAT), Chennai, has held that a personal guarantor who settled a corporate debtor's dues with its financial creditor, did not become a financial creditor in the liquidation proceedings. A bench of Judicial Member Justice Sharad Kumar Sharma and Technical Member Jatindranath Swain found that there was no assignment of the debt in S.V. Ramasamy's favour. He had also not sought substitution of Tamil Nadu Mercantile Bank (TMB) in the liquidation proceedings.
ESI Contributions Cannot Be Treated As Ordinary Operational Debt Under IBC: NCLAT
Case Title : Employees State Insurance Corporation Vs Sri Lakshmi Srinivasa Jute Mills Private Limited & Ors
Case Number : Company Appeal (AT) (Insolvency) 410/2022
CITATION : 2026 LLBiz NCLAT 379
The National Company Law Appellate Tribunal (NCLAT) at Chennai has held that ESI contributions covered by the statutory trust mechanism cannot be treated as ordinary operational debt merely because the Employees State Insurance Corporation filed its claim as an operational creditor.
NCLAT Directs NCLT To Hear Collusion Plea Before Deciding Insolvency Case
Case Title : Shri Sant Eknath Co-operative Sugar Factory Ltd. v. Sachin Ghayal Sugar Pvt. Ltd. & Anr.
Case Number : Company Appeal (AT) (Ins.) No. 1767 of 2025
CITATION : 2026 LLBiz NCLAT 381
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently directed the NCLT, Mumbai Bench, to first decide an application filed by a sugar cooperative alleging that a Section 7 insolvency case against a company was collusive and could prejudice its rights.
Reliance Brand Dispute: NCLAT Dismisses ADAVL Appeal After Reliance Capital Becomes IndusInd
Case Title : Anil Dhirubhai Ambani Ventures Pvt. Ltd. Vs Reliance Capital Ltd. & Anr
Case Number : Company Appeal (AT) (Insolvency) 2263/2024
CITATION : 2026 LLBiz NCLAT 382
The National Company Law Appellate Tribunal (NCLAT) has recently dismissed as infructuous an appeal concerning the use of the “Reliance” brand name by IndusInd International Holdings Ltd (IIHL) following its takeover of Reliance Capital.
The appeal was filed by Anil Dhirubhai Ambani Ventures Pvt. Ltd. (ADAVL), which had challenged the Mumbai bench of the National Company Law Tribunal's (NCLT) decision allowing IIHL to use the “Reliance” name as part of its takeover of Reliance Capital. The appeal became infructuous after Reliance Capital changed its name to "IndusInd."
Personal Guarantors Cannot Revive Appeals After OTS Fails Due to Their Own Default: NCLAT
Case Title : Arun Singh @ Arun Kumar Vs Indian Bank & Anr.
Case Number : Restoration Application (AT) No. 21/2026, 22/2026, 23/2026
CITATION : 2026 LLBiz NCLAT 385
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently refused to restore appeals filed by three personal guarantors after a ₹4.60 crore One-Time Settlement (OTS) with Indian Bank failed. The tribunal held that the guarantors could not rely on the liberty granted in an earlier order to take advantage of theirown default.
Case Title : Rajesh Uttamchandani Vs Vijay Pitambar Lulla & Ors
Case Number : Company Appeal (AT) (Insolvency) 333/2026
CITATION : 2026 LLBiz NCLAT 386
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently held that once the insolvency resolution period expires without receipt of a resolution plan or a valid extension, liquidation becomes mandatory under the Insolvency and Bankruptcy Code (IBC).
Case Title : Prateek Jain Vs Anurag Nirbhaya & Ors
Case Number : Company Appeal (AT) (Insolvency) 1496/2024
CITATION : 2026 LLBiz NCLAT 389
The National Company Law Appellate Tribunal (NCLAT) at Delhi has held that a shareholder, merely in that capacity, cannot maintain an appeal against an order approving a resolution plan under Section 61 of the Insolvency and Bankruptcy Code (IBC).
Supertech North Eye Homebuyers Move NCLAT Against NBCC Over Delay In 16 Projects
Case Title : PRIYANKA SRIVASTAVA Vs NBCC .(I) LTD & ORS.
Supertech North Eye homebuyers have moved the National Company Law Appellate Tribunal (NCLAT), alleging that NBCC has not complied with timelines fixed by the tribunal for awarding construction works and commencing work on 16 stalled Supertech projects.
Case Title : Tata Capital Limited Vs Mr. Sanjay Mahajan
Case Number : Company Appeal (AT) (Insolvency) 1067/2026
CITATION : 2026 LLBiz NCLAT 391
The National Company Law Appellate Tribunal (NCLAT) has held that a secured creditor cannot participate in the liquidation process while keeping open an option to later withdraw its secured assets from the liquidation estate.
Case Title : Monitoring Committee of Earth Towne Project Earth Infrastructures Limited Vs Earth Towne Infrastructure Private Limited & Ors
Case Number : Company Appeal (AT) (Insolvency) 1344/2026
CITATION : 2026 LLBiz NCLAT 390
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has set aside insolvency proceedings against Earth Towne Infrastructure Pvt. Ltd. (ETIPL), holding that a separate Corporate Insolvency Resolution Process (CIRP) could not continue after the Supreme Court restored the resolution plan for Earth Infrastructures Ltd. (EIL) and brought ETIPL's land within that plan.
Bankrupt Personal Guarantor Cannot Withdraw Funds After Estate Vests In Trustee: NCLAT New Delhi
Case Title : Manju Sirohi Vs Assets Care & Reconstruction Enterprise Ltd & Anup Kumar
Case Number : Company Appeal (AT) (Insolvency) 1172/2026 & 1173/2026
CITATION : 2026 LLBiz NCLAT 393
On 7 October, the National Company Law Appellate Tribunal (NCLAT) at New Delhi held that a bankrupt personal guarantor cannot withdraw or otherwise deal with funds in a bank account once the bankruptcy estate has vested in the Bankruptcy Trustee. A Bench comprising Judicial Member Justice Mohd Faiz Alam Khan and Technical Member Naresh Salecha dismissed appeals filed by Manju Sirohi, personal guarantor of Saha Infratech Pvt. Ltd., against orders directing her to return Rs. 19,17,500 withdrawn from her bank account after she was declared bankrupt.
Going-Concern Sale Commences With Liquidation Order, Not Auction Notice: NCLAT
Case Title : Debashis Nanda Vs Gokul Anil Kumar & SCC
Case Number : Company Appeal (AT) (Insolvency) 1297/2026
CITATION : 2026 LLBiz NCLAT 392
The National Company Law Appellate Tribunal (NCLAT), Delhi, has held that liquidation by sale of a corporate debtor as a going concern commences from the date of the liquidation order when the order directs the liquidator to pursue that mode of sale.
NCLAT Seeks Project-Wise Completion Timelines For 16 Supertech Housing Projects
Case Title : Ram Kishor Arora Vs Union Bank of India & Anr
Case Number : IA NO.5878 OF 2025, 1774, 1776,2463,2633,2798,2962,3288,3301,4824,5437,5448,5506,5541,5925,5955,6000,6009,6520,6521,7010 OF 2026
CITATION : 2026 LLBiz NCLAT 394
The National Company Law Appellate Tribunal (NCLAT) at Delhi has asked the Apex Court Committee to submit tentative completion dates for each of Supertech Limited's 16 housing projects and disclose the finances available for their completion.
NCLAT Refuses To Recall Order Excluding Property Eviction Delay From Resolution Plan Timeline
Case Title : Sonal Sumit Mehta Vs Chirag R Shah & Omkara ARC Pvt Ltd
Case Number : IA No.5856/2026 in Company Appeal (AT) (Insolvency) 1262/2026
CITATION : 2026 LLBiz NCLAT 395
The National Company Law Appellate Tribunal (NCLAT) at Delhi has refused to recall its earlier order excluding delays in handing over a property from the implementation timeline of a resolution plan. It held that the successful resolution applicant should not be penalised for delays caused by the unauthorised occupation of the property by a company controlled by the suspended management's family.
NCLAT Issues Notice On Appeal Against Stargaze Entertainment's Liquidation Order
Case Title : Committee of Creditors of Stargaze Entertainment Private Limited Vs. Stargaze Entertainment Private Limited (In Liquidation) And Ors.
Case Number : Comp. App. (AT) (Ins) 1957/ 2026
The National Company Law Appellate Tribunal (NCLAT) at Delhi on Tuesday issued notice to Stargaze Entertainment Pvt. Ltd. a cinema exhibition company, and its Resolution Professional, Ashok Kumar Gulla on appeal filed by the Committee of Creditors (CoC) against the liquidation order.
CoC Approval Cannot Cure Resolution Plan's Failure To Meet Mandatory IBC Requirements: NCLAT
Case Title : Dickey Special Situation Investment Trust-DSSF Series 2 Vs Manish Agarwal & Ors
Case Number : Company Appeal (AT) (Insolvency) 1725/2026 & 1706/2026
CITATION : 2026 LLBiz NCLAT 396
The National Company Law Appellate Tribunal (NCLAT) has held that the Committee of Creditors' (CoC) approval cannot cure a resolution plan that fails to meet mandatory requirements under the Insolvency and Bankruptcy Code, 2016 (IBC). It ruled that the CoC's commercial wisdom on a plan's feasibility and viability applies only when the plan complies with the law.
NCLAT Stays Insolvency Proceedings Against Polycab India
Case Title : Bharat Ajay Jaisinghani Vs Asier Metals Pvt. Ltd. & Anr
Case Number : Company Appeal (AT) (Insolvency) 1940/ 2026
CITATION : 2026 LLBiz NCLAT 397
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently (October 9) stayed the admission of an insolvency petition against Polycab India Limited, filed by Asier Metals Pvt. Ltd, an operational creditor. The order was passed by the bench of officiating Chairperson Justice Yogesh Khanna and Technical Members Barun Mitra and Ajai Das Mehrotra.
NCLAT Delhi Upholds CIRP Against Shri Paramsukh Edible Foods Based On GST Credit And TDS Records
Case Title : Girraj Bansal Vs Rakesh Kumar Goyal
Case Number : Company Appeal (AT) (Insolvency) 1571/2025
CITATION : 2026 LLBiz NCLAT 399
On 14 October, the National Company Law Appellate Tribunal (NCLAT) at Delhi upheld the admission of insolvency proceedings against Shri Paramsukh Edible Foods Pvt. Ltd., holding that tax deducted at source (TDS), claims of input tax credit (ITC) on goods and services tax (GST), and ledger entries established the supply of goods and the existence of an outstanding operational debt.
NCLT Must Assess Prospects Of Recovering Arbitral Claim Before Ordering Liquidation: NCLAT
Case Title : Phoenix ARC Limited Vs Rajesh Jhunjhunwala & Supreme Best Value Kolhapur (Shiroli) Sangli Tollways Private Limited
Case Number : Company Appeal (AT) (Insolvency) 1745/2026
CITATION : 2026 LLBiz NCLAT 400
The NCLAT has set aside a liquidation order against a road infrastructure company, holding that the NCLT failed to assess the recovery prospects of an arbitral claim before ordering liquidation, relying instead on the fact that the claim could also be pursued during liquidation.
NCLAT Delhi Quashes Cancellation Of IP Deepak Goyal's Registration Over Disproportionate Penalty
Case Title : Deepak Kumar Goyal Vs IBBI
Case Number : Company Appeal (AT) (Insolvency) 1736/2026
CITATION : 2026 LLBiz NCLAT 402
The National Company Law Appellate Tribunal (NCLAT), Delhi, on 14 October, set aside the cancellation of insolvency professional Deepak Kumar Goyal's registration and remanded the matter to the Insolvency and Bankruptcy Board of India (IBBI) to reconsider the penalty for two established contraventions.
NCLAT Delhi Refuses Stay On 2-Year Suspension Of Insolvency Professional Over BRG Iron & Steel Sale
Case Title : Kannan Tiruvengadam Insolvency Professional Vs IBBI & Ors
Case Number : Company Appeal (AT) (Insolvency) 1814/2026
CITATION : 2026 LLBiz NCLAT 404
The National Company Law Appellate Tribunal (NCLAT), Delhi, on 14 October refused to stay the two-year suspension of Insolvency Professional Kannan Tiruvengadam for conducting a private sale of BRG Iron & Steel without prior consultation with the Stakeholders' Consultation Committee (SCC).
Bare Claim Of Poverty Not Enough To Defend Contempt For Non-Payment: NCLAT
Case Title : Pradip Kumar Bajaj Vs Vaibhav Khandelwal
Case Number : Company Appeal (AT) (Insolvency) 1600/2026, 1601/2026 & 1609/2026
CITATION : 2026 LLBiz NCLAT 403
The National Company Law Appellate Tribunal (NCLAT) has observed that a bare claim of poverty is not enough to defend contempt proceedings for non-payment of a court-ordered amount. A person claiming inability to pay must fully disclose their assets and income and explain why they cannot comply with the order.
NCLAT Expunges Adverse Remarks Against Advocate Over Email Seeking Upload of NCLT Order
Case Title : Mrinal Harsh Vardhan Vs Hynite Farms Pvt. Ltd. & Anr.
Case Number : Company Appeal (AT) (Insolvency) 1937/2026
CITATION : 2026 LLBiz NCLAT 405
The National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, has expunged adverse remarks made by the National Company Law Tribunal (NCLT) against an advocate.
Accounting Entry Alone Cannot Make Share Purchase Payment A Financial Debt Under IBC: NCLAT
Case Title : Catalyst Refinery Services Private Limited Vs Ganpati Global Private Limited
Case Number : Company Appeal (AT) (Insolvency) 1488/2022
CITATION : 2026 LLBiz NCLAT 406
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently ruled that ₹1.39 crore paid towards a share purchase cannot be treated as a financial debt merely because the company later recorded it as an unsecured loan. It upheld the dismissal of an insolvency plea against the company.
Suspended Director Cannot Cure Incompetent Appeal Through Belated Amendment: NCLAT
Case Title : Anuj Rana Vs Virendra Praksh Gupta & Ashutosh Khemani
Case Number : Company Appeal (AT) (Insolvency) 553/2025
CITATION : 2026 LLBiz NCLAT 407
The National Company Law Appellate Tribunal (NCLAT), Delhi, has held that a suspended director cannot cure an incompetent appeal filed in a company's name after insolvency proceedings begin by subsequently amending it to pursue the appeal in his individual capacity after the limitation period expires.
Directors Cannot Use Corporate Structure To Evade Liability For Acquired Business Dues: NCLAT Delhi
Case Title : Subbarao Siddabattula & Ors Vs Radhey Shyam Yadav & Ors
Case Number : Company Appeal (AT) (Insolvency) 1549/2025
CITATION : 2026 LLBiz NCLAT 409
On 27 October, the National Company Law Appellate Tribunal (NCLAT), New Delhi, held that individuals who take control of a corporate debtor and benefit from its business operations cannot use the separate legal personality of the acquiring company to evade corresponding liabilities.
CIRP Withdrawal Must Follow Section 12A Of IBC, Creditor Cannot Be Forced To Settle: NCLAT New Delhi
Case Title : Nandkumar Khattumal Harchandani Vs Incorp Restructuring Services LLP & Ors.
Case Number : I.A. No. 6838 of 2026 in Comp. App. (AT) (Ins) No. 1759 of 2026
CITATION : 2026 LLBiz NCLAT 410
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT), on 27 October held that a financial creditor cannot be compelled to accept a settlement against its wishes and that withdrawal of the Corporate Insolvency Resolution Process (CIRP) must follow the procedure prescribed under Section 12A of the Insolvency and Bankruptcy Code, 2016 (IBC).
Case Title : VASU BUILDCON Vs KASHI VISWANATHAN SIVARAMAN
Case Number : Company Appeal (AT) (Insolvency) 1212/2025 & 1225/2025
CITATION : 2026 LLBiz NCLAT 411
The National Company Law Appellate Tribunal (NCLAT) has recently held that a resolution applicant cannot insist on approval of its plan merely because the Committee of Creditors (CoC) had approved it earlier. This is particularly so when the plan is sent back for reconsideration and the revised proposal fails to secure the required voting majority.
Case Title : Coffee Day Global Limited Vs Rechtsanwalt Dr Christian Bachmann Insolvency Administrator of Coffee Day Gastronomie Und Kaffeehandels Gmbh
Case Number : Comp App (AT) (CH) (Ins) No. 431/2026
The National Company Law Appellate Tribunal (NCLAT) at Chennai has refused to set aside an order allowing an amendment to the date of default in insolvency proceedings against Cafe Coffee Day parent Coffee Day Global Ltd.
NCLAT Sets Aside Insolvency Proceedings Against Polycab India
Case Title : Bharat Ajay Jaisinghani Vs Asier Metals Pvt. Ltd. & Anr
Case Number : Company Appeal (AT) (Insolvency) 1940/ 2026
CITATION : 2026 LLBiz NCLAT 412
The National Company Law Appellate Tribunal (NCLAT) at Delhi on Friday set aside the insolvency proceedings initiated against Polycab India Limited on a plea filed by operational creditor Asier Metals Pvt. Ltd on finding pre existing disputes between the parties.
NCLT
Case Title : Think & Learn Pvt Ltd v. Aakash Educational Services Ltd and Ors
Case Number : CP 46/BB/2025
CITATION : 2026 LLBiz NCLT(BEN) 951
The National Company Law Tribunal at Bengaluru on Thursday deferred orders on the settlement between Byju's parent Think & Learn Private Limited and Aakash Educational Services Limited over Aakash's rights issue, directing the parties to first comply with several requirements.
IBC Amendment On Personal Guarantors Applies Retroactively To Pending Proceedings: NCLT New Delhi
Case Title : Equentia Financial Service Pvt. Ltd. v. Saloni Ayush Aggarwal
Case Number : : IA-798/ND/2026, IA-638/ND/2026, IA-972/ND/2026 in CP (IB)-652/ND/2025
CITATION : 2026 LLBiz NCLT (DEL) 949
The National Company Law Tribunal (NCLT), New Delhi held on 31 August that the 2026 amendment to Section 96 of the Insolvency and Bankruptcy Code, 2016 (IBC) applies retroactively to pending insolvency proceedings against personal guarantors to corporate debtors.
Appellate Challenge Affecting Resolution Plan Can Extend Timeline Under Plan Terms: NCLT Kolkata
Case Title : Mukesh Goyal v. CA Santanu Brahma & Ors.
Case Number : I.A. (IBC) No. 1880/KB/2025; I.A. (IB) No. 371/KB/2026; I.A. (IB) No. 911/KB/2026 in C.P. (IB) No. 1518/KB/2020
CITATION : 2026 LLBiz NCLT (KOL) 950
The National Company Law Tribunal (NCLT), Kolkata Bench, has held that where an approved Resolution Plan provides for exclusion of the period affected by appellate proceedings, the implementation timeline stands extended in accordance with the Plan without requiring a formal stay order or fresh approval by the Committee of Creditors (CoC).
Corporate Debtor's Sub-Threshold Default Does Not Bar Personal Guarantor Insolvency: NCLT Chennai
Case Title : Mrs V Lakshmi
Case Number : CP(IBC)/52(CHE)2025
CITATION : 2026 LLBiz NCLT(CHE) 952
The National Company Law Tribunal (NCLT) at Chennai on 15 September held that insolvency resolution proceedings can be initiated against a personal guarantor even when the corporate debtor's default is below the statutory threshold for initiating the Corporate Insolvency Resolution Process (CIRP).
Case Title : Jayanti Lal Jain, IRP of DK Infrastructure Pvt. Ltd. v. Arvind Mathur & Ors
Case Number : I.A. No. 4684 of 2024 in C.P. (IB) No. 644/MB/2020
CITATION : 2026 LLBiz NCLT (MUM) 953
The National Company Law Tribunal (NCLT), Mumbai, has ruled that a bank guarantee can be invoked and encashed during the moratorium imposed on a company undergoing insolvency proceedings. The bench of Judicial Member Vinay Goel and Technical Member Charanjeet Singh Gulati held that the bank guarantee in the case fell within the exception under Section 14(3)(b) of the Insolvency and Bankruptcy Code (IBC). The provision excludes a surety in a contract of guarantee to a corporate debtor from the operation of the moratorium.
Case Title : Shailendra Kataria, Authorised Representative of Creditors in Class (Homebuyers) v. Manish Lalji Dawda, Resolution Professional of Wadhwa Buildcon LLP
Case Number : IA/5387/2024 C.P. (IB)/2946(MB)2019
CITATION : 2026 LLBiz NCLT (MUM) 954
The National Company Law Tribunal (NCLT) at Mumbai on 11 September held that a Resolution Professional (RP) can re-verify claims admitted by an erstwhile RP when the available records disclose deficiencies, discrepancies or concerns regarding their authenticity. Such verification is part of the RP's statutory duty to maintain and update the list of creditors and does not amount to adjudication of disputed rights.
NCLT Ahmedabad Rejects Button Industries' Insolvency Plea Against Viaz Tyres Over ₹1.16 Crore Dues
Case Title : Button Industries Pvt Ltd vs Viaz Tyres Limited
Case Number : C.P.(IB)/482(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 956
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 24 September rejected an insolvency petition filed by Button Industries Private Limited against Viaz Tyres Limited over alleged dues of Rs. 1.16 crore.
Case Title : Rajputana Constructions Private Limited v. Rajasthan Land Holdings Limited
Case Number : IA(IBC) No. 155/JPR/2024
CITATION : 2026 LLBiz NCLT(JAI) 958
The National Company Law Tribunal (NCLT), Jaipur Bench, on Monday delivered a split verdict on whether it can grant blanket protection from statutory, civil, and penal consequences arising from alleged defaults during a company's Corporate Insolvency Resolution Process (CIRP). Technical Member Kavita Bhatnagar held that such consequences must be examined by the authorities empowered under the respective statutes, while Judicial Member Reeta Kohli took a contrary view and allowed the application seeking protection.
Case Title : Phoenix ARC Private Limited v. M/s Cherupushpam Films Private Limited
Case Number : CP(IBC)/51/KOB/2022
CITATION : 2026 LLBiz NCLT(KOC) 959
The National Company Law Tribunal (NCLT) at Kochi has ruled that a settlement reached during the insolvency proceedings of a principal borrower does not, by itself, prevent insolvency proceedings against its corporate guarantor.
Case Title : State Bank of India v. Mangalagiri Textile Mills Pvt. Ltd.
Case Number : IA (IBC)/365/2026 in CP(IB)/76/7/AMR/2022
CITATION : 2026 LLBiz NCLT (AMR) 960
The National Company Law Tribunal (NCLT), Amravati Bench, has recently held that a CoC resolution passed after commencement of liquidation cannot retrospectively satisfy the requirement of a prior recommendation under Regulation 39BA for pursuing a compromise or arrangement under Section 230 of the Companies Act. The bench comprising Judicial Member Kishore Vemulapalli and Technical Member Umesh Kumar Shukla held that a later resolution authorising the liquidator to explore such a compromise could not cure the statutory requirement under Regulation 2B.
Financial Creditor's RP Recommendation Does Not Invalidate Appointment Under IBC: NCLT Hyderabad
Case Title : M. Indrasena Chowdary v. Murali Mohan Chevuturi & Ors.
Case Number : IA No. 722 of 2026 in CP (IB) No. 105/95/HDB/2025
CITATION : 2026 LLBiz NCLT (HBD) 963
The Hyderabad Bench of the National Company Law Tribunal (NCLT) held on 7 September that a Financial Creditor's recommendation of an Insolvency Professional in a Section 95 application does not, by itself, invalidate the subsequent appointment of that person as Resolution Professional under Section 97 of the Insolvency and Bankruptcy Code, 2016 (IBC).
NCLT Delhi Allows Insolvency Withdrawal Against HIL India After Creditor Settlements
Case Title : IDBI BANK LIMITED Vs HIL (INDIA) LIMITED
Case Number : I.A. No. 1432 OF 2026 IN C.P. (IB) I.B.C. No. 404(PB) OF 2024
CITATION : 2026 LLBiz NCLT (DEL) 968
The Delhi Bench of the National Company Law Tribunal (NCLT) on 30 September allowed withdrawal of the corporate insolvency resolution process (CIRP) against HIL (India) Limited under Section 12A of the Insolvency and Bankruptcy Code, 2016 (IBC), following settlements with its creditors.
Familial Disputes Alone Can't Establish Fraudulent Insolvency Proceedings Under IBC: NCLT Chandigarh
Case Title : Monica Agarwal v. Sushil Kumar Agarwal & Anr.
Case Number : IA (IBC) No. 32/2026 in CP (IB) No. 301/Chd/Hry/2024
CITATION : 2026 LLBiz NCLT (CHA) 962
The National Company Law Tribunal (NCLT), at Chandigarh on 10 September held that a family relationship or strained relations between parties, by themselves, cannot establish that insolvency proceedings were initiated fraudulently or maliciously under Section 65(1) of the Insolvency and Bankruptcy Code, 2016 (IBC).
Case Title : Anju Maurya & Ors. v. Koras Pin Savings Financial Services Nidhi Limited
Case Number : CP (IB) No. 17/ALD/2024
CITATION : 2026 LLBiz NCLT (ALL) 966
The National Company Law Tribunal (NCLT) at Allahabad has ruled that a corporate debtor cannot rely solely on an automatic-renewal clause in deposit certificates to claim that matured deposits were not payable. It must produce material showing that the deposits were actually renewed in accordance with the terms of the certificates.
NCLT Allahabad Holds Simultaneous CIRP And MSEFC Proceedings Amount To Forum Shopping
Case Title : R N BUILDCON Vs OCEAN INFRAHEIGHT PVT. LTD.
Case Number : CP (IB) NO.7/ALD/2023
CITATION : 2026 LLBiz NCLT (ALL) 970
The Allahabad bench of the National Company Law Tribunal (NCLT) has held that pursuing insolvency proceedings while simultaneously seeking recovery of the same claim before the Micro and Small Enterprises Facilitation Council (MSEFC) amounted to “forum shopping”. The tribunal made the observation while dismissing R N Buildcon's insolvency plea against Ocean Infraheight Pvt. Ltd.
NCLT Delhi Rejects Impresario's Insolvency Plea Against Colorbar Over Pre-Existing Dispute
Case Title : Impresario Vs Colorbar Cosmetics Private Limited
Case Number : C.P. (IB) 319/ND/2026
CITATION : 2026 LLBiz NCLT (DEL) 971
The Delhi bench of the National Company Law Tribunal (NCLT) has dismissed an insolvency application filed by Impresario against Colorbar Cosmetics Pvt. Ltd., holding that a substantial pre-existing dispute between the parties barred initiation of the Corporate Insolvency Resolution Process (CIRP).
Case Title : Eldeco Infrastructure and Properties Limited Vs NPV Insolvency Professionals Pvt. Ltd
Case Number : IA/1595(AHM)2026 in C.P.(IB)/483(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 973
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has refused to direct the Resolution Professional (RP) of Blu-Smart Charge Pvt. Ltd. to remove the company's assets from the licensed premises or hand over possession to Eldeco Infrastructure and Properties Limited.
NCLT Chennai Cancels Sale Deed Of Homebuyer Who Failed To Submit Claim During CIRP
Case Title : P Dot G Constructions Private Limited v. P. Jayapal
Case Number : IA(IB)/927(CHE)/2021 in CP(IB)/193/2018
CITATION : 2026 LLBiz NCLT (CHE) 974
The National Company Law Tribunal (NCLT), Chennai, has recently cancelled a homebuyer's registered Sale Deed and Construction Agreement after he failed to file a claim during the corporate insolvency resolution process (CIRP) of P Dot G Constructions Private Limited.
Case Title : NPV Insolvency Professional Pvt. Ltd Through Its Director Atul Tandon IRP of Mehsana Dairy and Food Products Ltd v. Uttar Gujarat Vij Company Limited
Case Number : IA/1230(AHM)2026 in C.P.(IB)/99(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 976
The National Company Law Tribunal (NCLT), Ahmedabad, has held that pre-CIRP electricity dues cannot be recovered from a corporate debtor by interrupting essential or critical electricity supply during the moratorium under the Insolvency and Bankruptcy Code (IBC).
NCLT Ahmedabad Bars Revival Of Going-Concern Sale After 2025 IBBI Regulation Changes
Case Title : Paresh Chandulal Mehta, Liquidator of Cupid Estatecon Pvt. Ltd. v. Wellworth Apparels Pvt. Ltd.
Case Number : I.A. No. 639(AHM)2026 in C.P.(IB) No. 183/NCLT/AHM/2023, along with I.A. Nos. 640(AHM)2026 and 308(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 977
The National Company Law Tribunal (NCLT), Ahmedabad, has ruled that a proposed sale of a Corporate Debtor as a going concern cannot be continued after the October 2025 changes to the liquidation regulations merely because an auction notice had been issued before the amendment.
Related Party Status Depends On Shareholding Threshold, Not Actual Control: NCLT Kolkata
Case Title : Abinandan Holdings Private Limited v. Sanjai Kumar Gupta, IRP of Howrah Mills Company Limited
Case Number : I.A. (IB) No. 1130/KB/2026 in C.P. (IB) No. 4/KB/2019
CITATION : 2026 LLBiz NCLT (KOL) 978
The National Company Law Tribunal (NCLT) Kolkata has held that a creditor can be treated as a related party based on the shareholding of a common director and his relatives, even without proof that the director actually exercised control over the corporate debtor.
Resignation As Director Does Not Extinguish Personal Guarantee Liability: NCLT Indore
Case Title : State Bank of India Vs Mahesh Rajpal
Case Number : C.P.(IB)/40(MP)2021
CITATION : 2026 LLBiz NCLT(IND) 979
The Indore Bench of the National Company Law Tribunal (NCLT) on 11 September held that a personal guarantee does not cease merely because the guarantor resigns as a director of the corporate debtor, observing that a personal guarantee is an independent contractual undertaking that continues unless validly revoked in accordance with law.
Removal Of Promoter-Director In Quasi-Partnership Company Can Amount To Oppression: NCLT Mumbai
Case Title : Mr. Ronny George (Since Deceased) through his legal heirs v. M/s. The Professional Couriers Private Limited & Ors.
Case Number : R.C.P. No. 3 (MB) 2024
CITATION : 2026 LLBiz NCLT (MUM) 987
The Mumbai Bench of the National Company Law Tribunal (NCLT) on 11 September held that removal of a promoter-director from a company having the character of a quasi-partnership can amount to oppression where it defeats the promoter's legitimate expectation of continued representation on the Board.
Denying Director Access To Records, Forcing Undervalued Sale Of Shares Is Oppression: NCLT Kolkata
Case Title : Nivedita Tiwari v Nex Fitzap Private Limited & Ors.
Case Number : C.P. No. 213/KB/2024 (along with IA No. 183/KB/2024, Cont. A No. 9/KB/2024 and IA No. 8/KB/2025)
CITATION : 2026 LLbBiz NCLT (KOL) 982
The National Company Law Tribunal (NCLT), Kolkata, has held that denying a director and shareholder access to a company's financial records, forcing her to part with her shares at an undervalued price and withholding her remuneration amounted to oppression under Section 241 of the Companies Act, 2013.
Case Title : J.C. Flowers Asset Reconstruction Pvt. Ltd. Vs Stargaze Entertainment Pvt. Ltd
Case Number : IA-37/ND/2026 IN CP (IB) NO. 173/(ND)/2024
CITATION : 2026 LLBiz NCLT (DEL) 986
The National Company Law Tribunal (NCLT), Delhi, has ordered liquidation of Stargaze Entertainment Pvt. Ltd., a cinema exhibition company, after rejecting a resolution plan. The Tribunal held that the Corporate Insolvency Resolution Process (CIRP) was itself vitiated because the Resolution Professional failed to take control of the company's assets.
NCLT Ahmedabad Rejects Movemate's Insolvency Plea Against OYO Over Disputed Logistics Dues
Case Title : Movemate Logistics Private Limited Vs OYO Hotels Private Limited
Case Number : C.P.(IB)/62(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 983
On 29 September the Ahmedabad Bench of the National Company Law Tribunal (NCLT) comprising Judicial Member Chitra Hankare and Technical Member Dr VG Venkata Chalapathy rejected an insolvency petition filed by Movemate Logistics Private Limited against OYO Hotels Private Limited over alleged unpaid dues for warehousing, logistics and allied services.
Case Title : HEMANSHU JETLEY Vs PUNJAB NATIONAL BANK & Ors
Case Number : IA(IBC)/238(CH)2025 In CP(IB) No.319/Chd/Chd/2019
CITATION : 2026 LLBiz NCLT (CHA) 984
The Chandigarh bench of the National Company Law Tribunal (NCLT) has held that the decision to raise interim finance for discharging disputed Estate Office dues falls within the commercial wisdom of the Committee of Creditors (CoC).
Case Title : IDBI Bank Limited v. Smt. Raj Kumari Garg
Case Number : IA-833/2025 in CP (IB)-785(PB)/2024
CITATION : 2026 LLBiz NCLT (DEL) 985
The National Company Law Tribunal (NCLT) at Delhi has held that a personal guarantor is not discharged from liability merely because she did not sign subsequent renewal or restructuring documents, where the original guarantee expressly provides that such variations will not release her from the guarantee.
Grounds Already Considered Cannot Be Re-Agitated In Subsequent Recall Application: NCLT Guwahati
Case Title : J.U.D. Cements Limited v. Catalyst Trusteeship Limited
Case Number : IA(IBC)/160/GB/2026 in CP(IB)/40/GB/2026
CITATION : 2026 LLBiz NCLT (GUA) 986
The National Company Law Tribunal (NCLT), Guwahati Bench, has held that grounds already considered while deciding an earlier recall application cannot be re-agitated in a subsequent application seeking recall of that order. The company had earlier filed a recall application, which was dismissed by the tribunal on August 10
Case Title : Bhagwati Lacto Vegetarian Exports Pvt. Ltd. v. RB Assets and Developers Pvt. Ltd.
Case Number : IA (I.B.C.) No. 1079/2025 in CP (IB) No. 283/Chd/Pb/2023
CITATION : 2026 LLBiz NCLT (CHA) 987
The National Company Law Tribunal (NCLT), Chandigarh Bench, has declined to remove documents and explanations introduced through a rejoinder from the record of an insolvency proceeding. It held that their relevance to the dispute over debt and default should be examined when the main petition is heard.
NCLT Ahmedabad Refuses To Recall Withdrawal Order Where Counsel Was Authorised To Withdraw Petition
Case Title : Arvind Mukundchand Soni v. Girdharbhai Bavchandbhai Viramgama & Ors.
Case Number : I.A. No. 99 of 2026 in Contempt Petition No. 3 of 2026 in TP No. 45 of 2016
CITATION : 2026 LLBiz NCLT (AHM) 994
The National Company Law Tribunal (NCLT), Ahmedabad Bench, has refused to use its inherent powers to recall an order dismissing a contempt petition as withdrawn, holding that the counsel who sought withdrawal was expressly authorised to do so under the Vakalatnama.
Case Title : Asier Metal Private Limited Vs Polycab India Limited
Case Number : C.P.(IB)/273(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 996
On 7 October, the Ahmedabad Bench of the National Company Law Tribunal (NCLT) admitted the insolvency petition filed by Asier Metals Pvt. Ltd. against Polycab India Ltd. over an operational debt default of Rs. 2.78 crore.
NCLT Chandigarh Says Mere Directorship Insufficient For Fraud, Dismisses Plea Against 18 Directors
Case Title : Darshan Singh Anand Vs Bimla Devi Jindal & Ors
Case Number : IA(I.B.C.)/1537 (CH)2022 IN CP(IB) No.315/Chd/Hry/2019
CITATION : 2026 LLBiz NCLT (CHA) 997
The Chandigarh Bench of the National Company Law Tribunal (NCLT) has held that mere designation as a director or participation in the management of a corporate debtor cannot, by itself, attract personal liability for fraudulent trading under the Insolvency and Bankruptcy Code (IBC).
NCLT Ahmedabad Rejects Creditor's Claim After Resolution Plan Approval Despite Civil Court Decree
Case Title : Patel Kokila Nileshbhai v. Techno Forge Limited
Case Number : IA 1386 of 2026 In CP (IB) No. 264 of 2018
CITATION : 2026 LLBiz NCLT (AHM) 999
The National Company Law Tribunal (NCLT), Ahmedabad, has rejected a creditor's plea to pursue a ₹14.11 lakh claim against Techno Forge Limited after approval of its resolution plan, despite a civil court decree in the creditor's favour.
Case Title : Keshav Khaneja Vs TATA Motors Limited & Anr
Case Number : IA/1064(AHM)2026 in C.P.(IB)/195(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 1001
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has refused to grant blanket warranty coverage for Gensol Engineering Limited's fleet of Tata electric vehicles (EVs), directing its Resolution Professional and Tata Motors Passenger Vehicles Limited (TMPVL) to coordinate vehicle-wise verification and process eligible warranty claims under the existing terms.
NCLT Ahmedabad Admits Insolvency Plea Against Gujarat Toolroom Over ₹26.20 Crore Dues
Case Title : Naksh Steel Limited Vs Gujarat Toolroom Limited
Case Number : C.P.(IB)/158(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 1003
The National Company Law Tribunal (NCLT), Ahmedabad, has admitted an insolvency petition against Gujarat Toolroom Limited over unpaid operational dues of ₹26.20 crore to Naksh Steel Limited. A bench of Judicial Member Chitra Hankare and Technical Member Dr V G Venkata Chalapathy found that the debt had been acknowledged but remained unpaid due to liquidity constraints.
Case Title : Maruti Corporation Vs Sharanam Infraproject and Trading Limited
Case Number : C.P.(IB)/88(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 1004
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) has admitted an insolvency petition filed by Maruti Corporation against Sharanam Infraproject and Trading Limited over an operational debt of ₹10.35 crore.
Case Title : Toyota Financial Services India Limited Vs NPV Insolvency Professionals Pvt. Ltd
Case Number : IA/1327(AHM)2026 in C.P.(IB)/377(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 1005
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has recently dismissed Toyota Financial Services India Limited's challenge to the rejection of ₹23.20 crore of its claim against the resolution professional (RP) of Blu-Smart Fleet Private Limited over 150 undelivered vehicles.
Dissenting Secured Creditors Entitled To Minimum Payment Based On Security Value: NCLT Mumbai
Case Title : State Bank of India v. Resolution Professional of RNA Corp. Pvt. Ltd. & Ors
Case Number : A(I.B.C)/480(MB)/2026 in CP (IB) 783 (MB) of 2021
CITATION : 2026 LLBiz NCLT (MUM) 1006
The National Company Law Tribunal (NCLT), Mumbai, on 7 October held that a dissenting financial creditor is entitled to a minimum payment equivalent to the liquidation value of its security interest, and the Committee of Creditors (CoC) cannot cap this entitlement at the total value of the resolution plan.
Case Title : Siemens Financial Services Pvt. Ltd. v. Rasik Khandelwal
Case Number : CP (IB) No. 79/ALD/2024
CITATION : 2026 LLBiz NCLT (ALL) 1007
The Allahabad Bench of the National Company Law Tribunal (NCLT), on 9 October admitted an application filed by Siemens Financial Services Pvt. Ltd. to initiate the personal insolvency resolution process against Rasik Khandelwal, holding that a financial creditor need not exhaust its remedies against the principal borrower before initiating insolvency proceedings against a personal guarantor.
Homebuyer Insolvency Threshold Must Be Based on Actual Bookings, Not Proposed Units: NCLT Kolkata
Case Title : Evanie Eco Nest Home Buyers Association v. Evanie Infrastructure Private Limited
Case Number : C.P. (IB) No. 285/KB/2021
CITATION : 2026 LLBiz NCLT (KOL) 1010
The Kolkata Bench of the National Company Law Tribunal (NCLT) on 9 October held that the threshold for admitting a homebuyer's insolvency petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), must be determined on the basis of actual bookings as they stood on the date of filing, and not proposed units. Also, that post-filing changes could not affect the assessment of the statutory threshold.
Disputed Interest Does Not Bar Section 9 IBC Plea If Principal Debt Exceeds ₹1 Crore: NCLT Allahabad
Case Title : Boston Ivy Healthcare Solutions Private Limited v. Zaneka Healthcare Limited
Case Number : CP (IB) No. 4/ALD/2026
CITATION : 2026 LLBiz NCLT (ALD) 1008
The Allahabad Bench of the National Company Law Tribunal (NCLT) on 8 October held that a dispute over interest on delayed payments does not defeat insolvency proceedings when the admitted principal debt exceeds the statutory threshold under the Insolvency and Bankruptcy Code, 2016 (IBC).
Case Title : APL Apollo Tubes Limited v. Tanisha Scaffolding (India) Private Limited
Case Number : C.P. (IB) No. 116/BB/2018
CITATION : 2026 LLBiz NCLT (BEN) 1013
The Bengaluru Bench of the National Company Law Tribunal (NCLT), on 9 October dismissed a Section 9 application filed by APL Apollo Tubes Ltd. seeking initiation of the corporate insolvency resolution process (CIRP) against Tanisha Scaffolding (India) Private Limited, holding that the operational creditor failed to establish the supply of goods underlying its claim.
Case Title : Yes Bank Limited v. Anil Madan
Case Number : CP No. IB 839 (ND)/2024, IA No. 865/2025
CITATION : 2026LLBiz NCLT (DEL) 1014
On 12 October, the Principal Bench of the National Company Law Tribunal (NCLT), New Delhi, admitted an application filed by Yes Bank Limited under Section 95 of the Insolvency and Bankruptcy Code (IBC) against Anil Madan, personal guarantor of Johnson Watch Company Pvt. Ltd.
Case Title : SANDEEP MAHAJAN Vs KANAK BIYANI
Case Number : IA (IBC)No. 244/JPR/2026 In CP No. (IB)- 19/121/JPR/2024
CITATION : 2026 LLBiz NCLT(JAI) 1015
The Jaipur bench of the National Company Law Tribunal (NCLT) has recently held that a bankrupt handing over jewellery to her son within the two-year look-back period does not, by itself, make the transaction preferential under the Insolvency and Bankruptcy Code, 2016 (IBC).
Case Title : Gonugunta Murali, Liquidator of Butta Infrastructure Pvt. Ltd. v. LIC Housing Finance Limited
Case Number : IA (IBC) No. 1493 of 2023 in CP (IB) No. 325/7/HDB/2020
CITATION : 20226 LLBiz NCLT (HYD) 1016
The National Company Law Tribunal (NCLT), Hyderabad, has held that the statutory 180-day deadline for a secured creditor to realise its security interest during liquidation cannot be kept open-ended merely because recovery proceedings have been initiated.
Erstwhile RP Cannot Refuse Handover Of Records To Liquidator Citing 'Functus Officio': NCLT Indore
Case Title : Gagan Jhavar, Liquidator of Arya Filaments Private Limited v. Surendra Kumar Agrawal & Ors.
Case Number : IA/75(MP)/2024 in T.P. 229 of 2019 [CP(IB) No. 29 of 2018]
CITATION : 2026 LLBiz NCLT (IND) 1020
The Indore Bench of the National Company Law Tribunal (NCLT), on 7 October held that an erstwhile Resolution Professional remains obligated to furnish records sought by the Liquidator even after approval of a Resolution Plan, as Regulation 9(1)(b) of the IBBI (Liquidation Process) Regulations, 2016, expressly covers a person who “was” the Resolution Professional.
NCLT Ahmedabad Admits GIMCO Into CIRP Under Section 10 Of IBC, Appoints Interim RP
Case Title : Gujarat Integrated Maritime Complex Private Limited
Case Number : C.P.(IB)/374(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 1019
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 22 September admitted Gujarat Integrated Maritime Complex Pvt. Ltd. (GIMCO) into the Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code, 2016, as part of the composite resolution framework for IL&FS Group subsidiaries.
NCLT Indore Admits Insolvency Plea Against Sagar Autotech's Personal Guarantor Over ₹3.95 Crore Debt
Case Title : ASREC (India) Limited v. Pratik Jain
Case Number : CP(IB)/29(MP)/2022
CITATION : 2026 LLBiz NCLT (IND) 1021
The National Company Law Tribunal (NCLT), Indore, on 5 October initiated insolvency resolution proceedings against Pratik Jain, a personal guarantor of Sagar Autotech (Jabalpur) Private Limited, over a default of Rs. 3.95 crore arising from credit facilities extended to the company by Volkswagen Finance Private Limited.
NCLT Chennai Approves Pothys Retail's ₹43.02 Crore Resolution Plan For Arihant Retail
Case Title : Shruti Lohia, Resolution Professional for Arihant Retail Private Limited
Case Number : IB(IBC)/PLAN/9(CHE)/2026
CITATION : 2026 LLBiz NCLT(CHE) 1024
The National Company Law Tribunal at Chennai has approved a resolution plan submitted by Pothys Retail Private Limited for Arihant Retail Private Limited, holding that the plan complies with the Insolvency and Bankruptcy Code and the applicable CIRP Regulations.
NCLT Bengaluru Says Govt. Companies Subject To IBC, Admits CIRP Against Karnataka Food Corporation
Case Title : Daaksh Jute LLP v. Karnataka Food and Civil Supplies Corporation Limited
Case Number : CP (IB) No. 306/BB/2025.
CITATION : 2026 LLBiz NCLT (BEN) 1025
The Bengaluru Bench of the National Company Law Tribunal (NCLT) on 12 October held that a government company incorporated under the Companies Act cannot claim exemption from insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC), merely because it performs public welfare functions.
NCLT Kochi Rejects EPFO's ₹59.46 Lakh Claim Against Peejay Agro Foods Over Uncrystallised Dues
Case Title : The Regional Provident Fund Commissioner-II v. Mr. R Raghavendran
Case Number : IA(IBC)(Liq)/1/KOB/2026 in CP(IBC)/08/KOB/2025
CITATION : 2026 LLBiz NCLT(KOC) 1026
The National Company Law Tribunal (NCLT), Kochi, on 15 October dismissed the appeal filed by the Regional Provident Fund Commissioner against the rejection of the Employees' Provident Fund Organisation (EPFO)'s Rs. 59.46 lakh claim in the liquidation of Peejay Agro Foods Private Limited.
Case Title : Balakrishnan Baburajan v. Murali Narayanan and Ors
Case Number : IA(IBC)/117/KOB/2022
CITATION : 2026 LLBiz NCLT(KOC) 1027
The National Company Law Tribunal (NCLT) at Kochi has recently held that directors cannot avoid their statutory obligations during liquidation merely by claiming that one director alone managed the company's affairs.
Litigant Cannot Seek Restoration Of Dismissed Plea After Repeated Absence: NCLT Mumbai
Case Title : Mr. Anil Tukaram Sawarkar vs Bank of Maharashtra
Case Number : RST. A./ 91 (MB) / 2026 IN I.A. / 5139 (MB) / 2024 IN C.P. / 951 (MB) / 2022
CITATION : 2026 LLBiz NCLT (MUM) 1030
The National Company Law Tribunal (NCLT) at Mumbai has recently ruled that applicants cannot delay proceedings by repeatedly remaining absent, observing that they cannot dictate the pace of a case after being given sufficient opportunities to appear.
NCLT Mumbai Allows Bajaj Healthcare To Acquire GENRX Pharmaceuticals
Case Title : Bajaj Healthcare Limited V/s. Mr. Rajesh Kumar Mittal
Case Number : I.A. No. 2739 of 2025 IN C.P. (IB) No. 4716/MB/2018
CITATION : 2026 LLBiz NCLT (MUM) 1031
The National Company Law Tribunal's Mumbai Bench has allowed Bajaj Healthcare Limited to acquire GENRX Pharmaceuticals Private Limited as a going concern on a 'clean slate' basis, protecting it from past liabilities up to the liquidation commencement date.
Fresh CIRP Cannot Be Allowed As A Matter Of Course: NCLT Mumbai
Case Title : Venkatavarathan Narasimhan Iyengar (Suspended Director of Somerset Constructions Private Limited) V/s. Committee of Creditors of Somerset Constructions Private Limited
Case Number : IVN.P.(IB) No. 172 of 2025
CITATION : 2026 LLBiz NCLT (MUM) 1032
The National Company Law Tribunal's (NCLT) Mumbai Bench has observed that the Committee of Creditors' commercial decisions must remain within the statutory framework, emphasising that the Corporate Insolvency Resolution Process (CIRP) cannot be kept open indefinitely or repeatedly restarted merely in the hope of securing better offers.
NCLT Delhi Admits SVOGL Into CIRP Despite Pending Winding-Up Proceedings
Case Title : PUNJAB NATIONAL BANK Vs SVOGL OIL GAS AND ENERGY LIMITED
Case Number : CP (IB) No.253/(PB)/2025
CITATION : 2026LLBiz NCLT (DEL) 1033
The Delhi bench of the National Company Law Tribunal (NCLT) has admitted SVOGL Oil Gas and Energy Ltd. into the Corporate Insolvency Resolution Process (CIRP), ruling that pending winding-up proceedings do not prevent admission of an insolvency petition if no irreversible steps have been taken
NCLT Delhi Rejects CIRP Plea Against Publisher Despite Holding Royalty Can Be Operational Debt
Case Title : Dr. Ravi Gupta Vs Commercial Law Publishers (India) Pvt. Ltd.
Case Number : CP (IB) NO. 405/(ND)/2026
CITATION : 2026LLBiz NCLT (DEL) 1034
The Delhi bench of the National Company Law Tribunal (NCLT) has rejected an insolvency plea against Commercial Law Publishers (India) Pvt. Ltd. The tribunal held that royalty payable under a publishing agreement can qualify as “operational debt” under the Insolvency and Bankruptcy Code (IBC).
NCLT Chandigarh Defers SEL Textiles Liquidation, Orders Fresh Resolution Process Within 120 Days
Case Title : Rajeev Sharma; Neeraj Saluja Vs Rajeev Sharma
Case Number : IA(IBC)(LIQ.)/3(CH)2026 & IA(IBC)/774(CH)2026 IN CP(IB) No.149/Chd/Pb/2022
CITATION : 2026 LLBiz NCLT (CHA) 1035
The Chandigarh Bench of the National Company Law Tribunal (NCLT) on 28 September deferred liquidation of SEL Textiles Ltd., holding that the rejection of earlier resolution plans does not, by itself, establish that the company cannot be revived.
NCLT Chandigarh Directs RP To Reconsider Homebuyers' Claims After Verifying ₹54 Lakh Payments
Case Title : RAJ KUMAR JINDAL & VIVEK AGGARWAL Vs SRS REAL ESTATE LTD
Case Number : IA(I.B.C)/52(CH)2025 IN CP(IB) No.167/Chd/Hry/2020
CITATION : 2026 LLBiz NCLT (CHA) 1036
The Chandigarh Bench of the National Company Law Tribunal (NCLT) on 29 September directed the Resolution Professional (RP) of SRS Real Estate Ltd. to verify whether Rs. 54 lakh paid by two homebuyers to group entities was ultimately transferred to or accounted for by the corporate debtor before reconsidering their claims as financial creditors in a class under the Insolvency and Bankruptcy Code, 2016 (IBC).
NCLT Allahabad Admits Redmil Business Mall's Insolvency Plea Over ₹9.41 Crore Default
Case Title : REDMIL BUSINESS MALL PRIVATE LIMITED
Case Number : CP (IB) NO.59/ALD/2026
CITATION : 2026 LLBiz NCLT (ALL) 1039
The National Company Law Tribunal (NCLT), Allahabad Bench, has admitted Redmil Business Mall Pvt Ltd's insolvency application after finding that the company had defaulted on dues of ₹9.41 crore.
NCLT Bengaluru Terminates Alpine Wineries' Liquidation After Settlement Of ₹49 Crore Debt
Case Title : M/s Prithvi Asset Reconstruction & Securitization Company v. M/s Alpine Wineries Pvt Ltd
Case Number : IA No. 553/ 2026 in CP(IB) No. 286/BB/2019
CITATION : 2026 LLBiz NCLT (BEN) 1038
The National Company Law Tribunal (NCLT), Bengaluru, on 12 October permitted termination of the liquidation proceedings against Alpine Wineries Private Limited after its financial creditors' dues were settled under one-time settlement agreements.
NCLT Ahmedabad Orders Dissolution Of Siddhi Vinayak Logistic After Completion Of Liquidation
Case Title : Dushyant C Dave Liquidator of Siddhi Vinayak Logistic Limited
Case Number : IA(Dis.)/29(AHM)2024 in CP(IB) 89 of 2017
CITATION : 2026 LLBiz NCLT (AHM) 1041
The National Company Law Tribunal, Ahmedabad (NCLT) on 7 October, ordered the dissolution of Siddhi Vinayak Logistic Limited after the completion of its liquidation process, holding that pending legal proceedings covered by the amended Insolvency and Bankruptcy Code (IBC) did not bar dissolution.
NCLT Ahmedabad Dissolves Captivate Foods After Finding No Traceable Assets Despite Pending Tax Dues
Case Title : Atul Sheth Liquidator for M/S Captive Foods Private Limited
Case Number : IA(Dis)/8(AHM)2024 in CP(IB) 562 of 2019
CITATION : 2026LLBiz NCLT (AHM) 1042
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 8 October ordered the dissolution of Captivate Foods Private Limited after finding that its assets were untraceable and no assets were available for realization and distribution.
NCLT Ahmedabad Orders Liquidation of Rainbow Papers After Failed Implementation Of Resolution Plan
Case Title : Neeraj Papers Agencies ltd Vs Rainbow Papers Ltd
Case Number : 1A/1472(AHM)2026 in CP(IB) 88 of 2017
CITATION : 2026LLBiz NCLT (AHM) 1043
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 7 October ordered the liquidation of Rainbow Papers Limited after finding that the failure to implement the approved resolution plan had left the company in prolonged uncertainty.
Case Title : Consortium of AKB Ventures LLP & Sustainable Projects Private Limited Vs Narender Kumar Sharma & Ors
Case Number : I.A. 5202 ND 2025 IN C.P. IB 284 (PB) OF 2021
CITATION : 2026LLBiz NCLT (DEL) 1044
The Delhi bench of the National Company Law Tribunal (NCLT) has recently held that an unsuccessful resolution applicant cannot compel the Committee of Creditors (CoC) to reconsider its commercial decision merely because its resolution plan was not approved.
Allegations Of Proxy Claims, Family Ties Not Enough To Exclude Creditors From CoC: NCLT Delhi
Case Title : VIVEK KHANNA & Ors Vs GAURAV KATIYAR
Case Number : I.A. 843 ND 2025 IN C.P. IB 284 (PB) OF 2021
CITATION : 2026LLBiz NCLT (DEL) 1047
The National Company Law Tribunal (NCLT), Delhi, has held that creditors cannot be excluded from the Committee of Creditors (CoC) merely because they are accused of being proxies or benamidars of the suspended management.
Case Title : BEACON TRUSTEESHIP LIMITED Vs VATIKA IT PARKS PRIVATE LIMITED
Case Number : CP IB NO. 203/(ND)/2025
CITATION : 2026LLBiz NCLT (DEL) 1046
The Delhi Bench of the National Company Law Tribunal (NCLT) on 9 October admitted the insolvency petition filed by Beacon Trusteeship Ltd. against Vatika IT Parks Pvt. Ltd., finding that the company had defaulted on debenture redemption obligations of Rs. 233.75 crore.
Highest Bidder Has No Vested Right To Enforce Auction Sale Before Completion: NCLT Kochi
Case Title : Srinivasan PR (Liquidator) in the matter of Asten Realtors Private Limited
Case Number : IA(IBC)/416/KOB/2026 in CP(IBC)/54/KOB/2022
CITATION : 2026 LLBiz NCLT (KOC) 1045
The National Company Law Tribunal (NCLT), Kochi, on 16 October held that a highest bidder does not acquire a vested or enforceable right merely by being declared the highest bidder in an auction.
Homebuyers Can't Demand Other Creditors' Account Statements Over Suspected False Claims: NCLT Delhi
Case Title : VIVEK KHANNA & Ors Vs GAURAV KATIYAR
Case Number : I.A. 844 ND 2025 IN C.P. IB 284 (PB) OF 2021
CITATION : 2026LLBiz NCLT (DEL) 1048
The Delhi bench of the National Company Law Tribunal (NCLT) has recently held that homebuyers, despite being financial creditors, cannot demand individual account statements of other creditors merely on suspicion that their claims may be false or inflated.
Individual Creditor Cannot Reopen CIRP Over Individual Grievances Outside IBC Procedure: NCLT Delhi
Case Title : DR. SUDIP SARAN Vs NARENDRA KUMAR SHARMA & SHAIKH NAFIS ANJUM
Case Number : I.A. 1637 ND 2026 IN C.P. IB 284 (PB) OF 2021
CITATION : 2026LLBiz NCLT (DEL) 1050
The National Company Law Tribunal (NCLT), Delhi, has ruled that an individual homebuyer cannot seek to reopen insolvency proceedings against a company based on personal grievances by bypassing the procedures prescribed under the Insolvency and Bankruptcy Code (IBC).
Homebuyers Cannot Use IBC To Reopen RERA-Adjudicated Disputes: NCLT Delhi
Case Title : VIBHA NARULA GUPTA. & ORS Vs NARENDRA KUMAR SHARMA
Case Number : I.A. 3253 ND 2025 IN C.P. IB 284 (PB) OF 2021
CITATION : 2026LLBiz NCLT (DEL) 1049
The Delhi Bench of the National Company Law Tribunal (NCLT) on 5 October held that homebuyers cannot use insolvency proceedings to reopen contractual disputes already adjudicated by the Haryana Real Estate Regulatory Authority (HRERA). It clarified that Section 60(5) of the Insolvency and Bankruptcy Code (IBC) does not empower the NCLT to re-adjudicate such disputes or sit in appeal over HRERA's findings.
Case Title : MUKESH KAKAR Vs NARENDRA KUMAR SHARMA
Case Number : I.A. 6166 ND 2025 IN C.P. IB 284 (PB) OF 2021
CITATION : 2026LLBiz NCLT (DEL) 1051
The Delhi bench of the National Company Law Tribunal (NCLT) has held that a resolution plan can treat real estate allottees (home buyers) holding Builder-Buyer Agreements (BBAs) differently from those holding Memoranda of Understanding (MoUs), depending on their contractual rights and obligations.
NCLT Kolkata Admits Samsara Energy Into Insolvency Over Unpaid Interest On ₹39 Crore Loan\
Case Title : SREI Equipment Finance Limited v. Samsara Energy Limited
Case Number : C.P. (IB) No. 10/KB/2025
CITATION : 2026LLBiz NCLT (KOL) 1061
The National Company Law Tribunal (NCLT), Kolkata Bench, has recently admitted Samsara Energy Limited into insolvency after finding that its failure to pay interest constituted a default under the terms of a loan agreement, despite a nine-year moratorium on repayment of the principal.
Promoter Asset Transfers Can Constitute Preferential Transactions Under IBC: NCLT Mumbai
Case Title : Harish Kant Kaushik, Resolution Professional of Nirmangold Alloys Pvt. Ltd. v. Bhushan Pundlikrao Patil & Ors.
Case Number : IA (IBC) No. 2595 of 2022 in CP (IB) No. 4309 (MB) of 2018
CITATION : 2026LLBiz NCLT (MUM) 1063
The National Company Law Tribunal (NCLT), Mumbai, on 16 October held that transferring company assets to a promoter and adjusting their value against the promoter's loan liability can constitute a preferential transaction under Section 43 of the Insolvency and Bankruptcy Code (IBC), 2016, unless the transaction satisfies the statutory exceptions.
NCLT Chennai Rejects Carlsberg's Insolvency Plea Against Accord Over ₹3.06 Crore Bottle Charges
Case Title : Carlsberg India Private Limited v. Accord Distillers and Brewers Private Limited
Case Number : CP(IBC)/170(CHE)/2024
CITATION : 2026 LLBiz NCLT (CHE) 1064
The National Company Law Tribunal (NCLT), Chennai, on 16 October dismissed an insolvency petition filed by Carlsberg India Private Limited against Accord Distillers and Brewers Private Limited over an alleged operational debt of Rs. 11.27 crore.
Bank's Fraud Classification Is Beyond Summary Jurisdiction In Bankruptcy Proceedings: NCLT Chennai
Case Title : Indian Bank v. Mrs. Kamalaben D Patel
Case Number : CP(IB)/5(CHE)/2026
CITATION : 2026 LLBiz NCLT (CHE) 1065
The Chennai Bench of the National Company Law Tribunal (NCLT) on 16 October held that a bank's decision to reject a restructuring proposal or classify a loan account as fraudulent cannot be examined in bankruptcy proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC), as these issues fall outside the Tribunal's summary jurisdiction.
Tax Assessment Can Continue During Liquidation, Penalty Proceedings Cannot: NCLT Kolkata
Case Title : Sumit Binani, Liquidator of Gujarat NRE Coke Limited v. Assessment Unit, Income Tax Department, Ministry of Finance, Government of India
Case Number : I.A. (IB) No. 490/KB/2025 in C.P. (IB) No. 182/KB/2017
CITATION : 2026 LLBiz NCLT (KOL) 1066
The National Company Law Tribunal (NCLT), Kolkata, on 16 October held that tax authorities can continue assessment proceedings to determine a company's tax liability during liquidation but cannot initiate penalty proceedings against the corporate debtor through show-cause notices under Section 33(6) of the Insolvency and Bankruptcy Code, 2016 (IBC).
Case Title : Voyager Trading Partners LLC v. Nadella Agrotech Private Limited
Case Number : CP (IB) No. 72/BB/2026
CITATION : 2026 LLBiz NCLT (BEN) 1067
The National Company Law Tribunal (NCLT), Bengaluru, on 26 October admitted Nadella Agrotech Private Limited into the Corporate Insolvency Resolution Process (CIRP) over unpaid dues for palm olein supplied by US-based Voyager Trading Partners LLC.
NCLT Bengaluru Refers Stellence Pharmascience Resolution Plan Back To CoC Over Nil Creditor Payouts
Case Title : Religare Finvest Ltd. v. Stellence Pharmscience Pvt. Ltd.
Case Number : IA (IBC) (Plan) No. 3/2025 in CP (IB) No. 32/BB/2023
CITATION : 2026 LLBiz NCLT (BEN) 1068
The National Company Law Tribunal (NCLT), Bengaluru, on 27 October, referred the resolution plan of Stellence Pharmascience Private Limited back to its Committee of Creditors (CoC) for reconsideration, observing that the plan appeared to assume nil liquidation value for operational creditors, employees and government authorities without adequate deliberation by the CoC.
Liquidator Cannot Forfeit Auction EMD To Recover Unquantified Rent Dues: NCLT Mumbai
Case Title : Mamta Ravi Doshi & Ors. v. Avil Menezes, Liquidator of Auro Gold Private Limited
Case Number : IA (I.B.C)/3582(MB)2026 in CP (IB) No. 1802 of 2019
CITATION : 2026 LLBiz NCLT (MUM) 1069
The Mumbai Bench of the National Company Law Tribunal (NCLT) on 28 October, held that a liquidator cannot forfeit the earnest money deposit (EMD) of unsuccessful auction bidders to recover alleged rent dues that remain unquantified and unestablished.
Case Title : Sukhkarta Medicose Vs Anil Bandi
Case Number : CP(IB)/7(MP)2025
CITATION : 2026 LLBiz NCLT(IND) 1071
The Indore Bench of the National Company Law Tribunal (NCLT) has held that the related-party nature of an underlying transaction does not affect the validity of an independently executed personal guarantee.
Case Title : Rajendra Sanghi Vs Rakshit Dhirajlal Doshi & Ors
Case Number : IA/1068(AHM)2022 in CP(IB) 5 of 2018
CITATION : 2026LLBiz NCLT (AHM) 1072
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) has held that an unauthorised change of a corporate debtor's registered office during insolvency proceedings does not, by itself, attract penal action.
Disagreement With Its Assessment Of CIRP Developments Not Ground For Recall: NCLT Mumbai
Case Title : Markolines Infra Private Limited Vs Sion Panvel Tollways Private Limited
Case Number : IA/4528/2026 C.P. (IB)/4776(MB)2018
CITATION : 2026 LLBiz NCLT (MUM) 1075
The National Company Law Tribunal's Mumbai Bench has held that a disagreement with the Tribunal's assessment of developments during the Corporate Insolvency Resolution Process (CIRP) cannot, by itself, constitute a mistake warranting recall of an order
IBBI
IBBI Says Interim Moratorium For Personal Guarantors Ceased From May 26, 2026 Even In Pending Cases
In a circular issued on September 21, 2026, the Insolvency and Bankruptcy Board of India (IBBI) has clarified that the interim moratorium applicable to personal guarantors of corporate debtors under Sections 96 and 124 of the Insolvency and Bankruptcy Code (IBC) ceased to operate from May 26, 2026. The circular also applies to applications that were already pending before the Adjudicating Authority on that date.
IBBI Amends CIRP Regulations To Provide For Project-Wise Resolution Of Real Estate Companies
The Insolvency and Bankruptcy Board of India has amended the Insolvency Resolution Process for Corporate Persons Regulations, 2016, introducing project-specific measures for corporate debtors undergoing insolvency proceedings and having real estate projects.