SUPREME COURT
Supreme Court Says NCLT Could Not Have Decided Title Of Gloster Trademark In Fort Gloster Insolvency
Case Title : Gloster Limited vs Gloster Cables Limited & Ors.
Case Number : CIVIL APPEAL NO. 2996 OF 2024
CITATION : 2026 LLBiz SC 20
The Supreme Court on Thursday held that the National Company Law Tribunal could not have decided the ownership of the trademark “Gloster” while exercising powers under Section 60(5) of the Insolvency and Bankruptcy Code, as the dispute did not arise in relation to the insolvency resolution process. A bench of Justices J.B. Pardiwala and K.V. Viswanathan upheld the National Company Law Appellate Tribunal,decision setting aside the NCLT Kolkata's finding that the trademark belonged to the corporate debtor.
HIGH COURT
Case Title : MMS Steel and Power Private Limited v. Union of India and Ors
Case Number : WA No. 50 of 2026
CITATION : 2026 LLBiz HC (KER) 12
The Kerala High Court has refused to interfere with the National Company Law Tribunal's rejection of a resolution plan for an insolvent company, even though it had received 100% approval from the Committee of Creditors. A Division Bench of Chief Justice Soumen Sen and Justice Syam Kumar V.M. held that the NCLT was acting within its jurisdiction in examining the resolution plan and that writ jurisdiction could not be invoked merely because the tribunal disagreed with the Committee of Creditors.
Case Title : Arun Kumar Bagla v. SCJ Plastics Ltd.
Case Number : W.P. (CRL) 2165/2019 & CRL. M.A. 32848/2019
CITATION : 2026 LLBiz HC (DEL) 46
The Delhi High Court has said that a company's inability to pay its dues because of financial distress is a civil issue, not a criminal offense. A director cannot be prosecuted for cheating unless there is clear proof of personal fraud or personal gain. Justice Neena Bansal Krishna quashed cheating charges against a former managing director of Creative Wares Limited, a manufacturing company that later ran into financial trouble and was declared a sick industrial company by the BIFR.
NCLAT
NCLAT Expunges Adverse Remarks Against IL&FS Companies In Wind World Insolvency
Case Title : Jogihali Wind Energy Private Limited v. Yogesh Mehra and Ors.
Case Number : Company Appeal (AT) (Ins) No. 1249 of 2022
CITATION : 2026 LLBiz NCLAT 21
The National Company Law Appellate Tribunal (NCLAT) at Delhi has expunged adverse remarks made by the NCLT Ahmedabad against three IL&FS group companies during the insolvency proceedings of Wind World (India) Limited. The appellate tribunal held that the observations were made without evidence and could not be allowed to remain.
A bench of Judicial Member Justice Mohd. Faiz Alam Khan and Technical Member Indevar Pandey said removing a creditor from the Committee of Creditors is not a minor issue. The tribunal stressed that such decisions require procedural fairness.
Credits To Bankrupt's Bank Account Don't Automatically Vest In Bankruptcy Estate: NCLAT
Case Title : Shubash Chandra Mishra, Personal Guarantor vs Sunil Kumar, Bankrupt Trustee &Anr.
Case Number : Comp. App. (AT) (Ins) No. 1300/2025
CITATION : 2026 LLBiz NCLAT 17
The National Company Law Appellate Tribunal (NCLAT) at New Delhi has ruled that money lying in the bank account of a bankrupt personal guarantor forms part of the bankruptcy estate and can be frozen by the Bankruptcy Trustee.
A bench of Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra said that while all assets belonging to the bankrupt as of the bankruptcy commencement date vest in the trustee, the law treats assets acquired later differently.
Case Title : Rajiv Gupta v. Brijesh Singh Bhaduriya, Ertswhile RP of RCI Industries and Technologies Ltd and Ors.
Case Number : Comp. App.(AT) (Ins) No. 1859/2025
CITATION : 2026 LLBiz NCLAT 16
The National Company Law Appellate Tribunal (NCLAT) at New Delhi, has refused to interfere with the approval of a resolution plan for RCI Industries and Technologies Ltd., after the successful resolution applicant undertook not to claim any rights over two disputed properties and the plan was approved by the committee of creditors.
A bench comprising Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra said, “Resolution Plan having been approved by the CoC and SRA having offered not to claim any right which has been accepted by Adjudicating Authority, we are of the view that at the instance of the Suspended Directors the said decision cannot be interfered with.”
NCLAT Issues Notice On REC's ₹37.48 Crore Insolvency Appeal Against Poena Power
Case Title : REC Limited v. Poena Power Development Limited
Case Number : Company Appeal (AT) (Insolvency) No. 92 of 2026
The National Company Law Appellate Tribunal (NCLAT) at New Delhi on Thursday issued notice on an appeal by Maharatna PSU REC Limited against an NCLT order that rejected its bid to start insolvency proceedings against Poena Power Development Limited, a subsidiary of RattanIndia Power Limited, over an alleged default of about Rs 37.48 crore. REC has challenged the NCLT's refusal to admit its Section 7 petition, which was dismissed on the ground that no legally enforceable debt had arisen. The tribunal had held that the claim stemmed from Redeemable Preference Shares (RPS) that had not become redeemable under the Companies Act, as the parent company lacked profits or funds raised through a fresh share issue.
NCLAT Sets Aside Aman Hospitality CIRP After Suspended Director Undertakes To Pay ₹119 Crore Dues
Case Title : Raj Singh Gehlot, Suspended Director of Aman Hospitality Private Limited v. Anup Kumar, IRP of Aman Hospitality Private Limited and Anr
Case Number : Comp. App. (AT) (Ins) No. 94 of 2026
CITATION : 2026 LLBiz NCLAT 15
The National Company Law Appellate Tribunal (NCLAT) on Thursday set aside insolvency proceedings against Aman Hospitality Private Limited after the suspended director undertook to pay Bank of India's dues within three days, overturning an NCLT Delhi order admitting the company into the Corporate Insolvency Resolution Process (CIRP).
A bench comprising Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra allowed the appeal filed by suspended director Raj Singh Gehlot after taking on record his undertaking to settle the dues of the financial creditor, Bank of India.
NCLAT Lifts 'Impossible Condition' Of ₹40-Crore Security Imposed On Bankrupt Guarantor For US Travel
Case Title : Zankarsinh Kishorsinh Solanki v. Kanhaiyalal Salawat (Bankruptcy Trustee) & Ors. Case Number : Company Appeal (AT) (Insolvency) No. 2030 of 2025
CITATION : 2026 LLBiz NCLAT 14
The National Company Law Appellate Tribunal (NCLAT) has set aside a condition imposed by the NCLT Ahmedabad requiring a bankrupt personal guarantor to deposit Rs. 40 crore as security for travelling to the United States. The tribunal held that a person already declared bankrupt cannot be expected to arrange such funds.
A bench led by Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra held that imposing an “impossible condition” amounts to denial of permission to travel.
Case Title : Rakesh Phull (RP of Shivam Continental Pvt. Ltd.) v. Punjab Small Industries & Export Corporation Ltd. & Anr.
Case Number : Comp. App. (AT) (Ins) No. 50 of 2026
CITATION : 2026 LLBiz NCLAT 13
The National Company Law Appellate Tribunal (NCLAT) at Delhi has refused to interfere with an order admitting a late claim in an insolvency case. The tribunal said the delay did not, by itself, warrant interference since the liability was already disclosed to bidders during the process.
A bench of Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra noted that the Information Memorandum had flagged the dues. It had also cautioned resolution applicants to make their own enquiries.
“Sat Over Our Order”: NCLAT Seeks ISPT India IRP's Reply In Contempt Case
Case Title : National Company Law Appellate Tribunal Chennai Bench v. Anil Kumar Khicha Case Number : Contempt No. 1/2026 in Company Appeal (AT) (CH) (Ins) Nos. 531 & 532/2025 CITATION : 2026 LLBiz NCLAT 12
The National Company Law Appellate Tribunal (NCLAT) at Chennai has sought a reply from Anil Kumar Khicha, the Interim Resolution Professional (IRP) of ISPT India Pvt Ltd, in contempt proceedings after the tribunal earlier found that an email issued by him in the insolvency proceedings was contemptuous.
A bench comprising Judicial Member Justice Sharad Kumar Sharma and Technical Member Jatindranath Swain is dealing with the contempt proceedings arising from the insolvency proceedings of ISPT India Pvt Ltd.
NCLAT Upholds Adani Power's ₹4,000 Crore Resolution Plan For Vidarbha Industries
Case Title : Western Coalfields Ltd. v. Bimal Kumar Agarwal & Ors.
Case Number : Company Appeal (AT) (Insolvency) No. 1281 of 2025 with Company Appeal (AT) (Insolvency) No. 1317 of 2025
CITATION : 2026 LLBiz NCLAT 11
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently upheld Adani Power Limited's Rs 4,000 crore resolution plan for Vidarbha Industries Power Limited, rejecting challenges raised by Western Coalfields Limited, a fuel supplier and operational creditor, and an employee representative.
A bench of Chairperson Ashok Bhushan and Technical Member Barun Mitra held that changes made by Adani Power to the acquisition structure after the plan was approved by the committee of creditors were permitted under the plan itself.
NCLAT Quashes NCLT Condition Restricting Use of Rs 20 Crore In Carnival Films Resolution Plan
Case Title : Cine-Corp Filmdom Pvt. Ltd. v. Ashok Kumar Gulla (RP) & Anr.
Case Number : Company Appeal (AT) (Ins) No. 1614 of 2025
CITATION : 2026 LLBiz NCLAT 10
The National Company Law Appellate Tribunal (NCLAT) at New Delhi has set aside an NCLT Indore order that approved Carnival Films Private Limited's resolution plan but barred the use of nearly Rs. 20 crore lying in the company's bank account to pay creditors.
A bench of Judicial Member Justice Mohd. Faiz Alam Khan and Technical Member Arun Baroka said the NCLT had overstepped its jurisdiction. It noted that the NCLT had first recorded that the plan complied with Section 30(2) of the Insolvency and Bankruptcy Code and then imposed fresh conditions.
NCLT
Contempt Needs Breach Of Clear, Unambiguous Directions, Not Vague Ones: NCLT Hyderabad
Case Title : Venkata Chalam Varanasi v. Ritesh
Case Number : Cont App (IBC) 18/2025 in IA (IBC) 950/2025 & in Company Petition IB/249/95/2021
CITATION : 2026 LLBiz NCLT (HYD) 88
The National Company Law Tribunal (NCLT) at Hyderabad has recently held that contempt powers cannot be invoked unless a court's earlier directions are clear, specific, and unambiguous, and unless there is conscious and deliberate disobedience of those directions.
A coram of Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri said that while exercising contempt jurisdiction, the tribunal must strictly confine itself to the wording of the order alleged to have been violated. It said contempt jurisdiction cannot be invoked when directions are broad, general, or lacking precision.
NCLT Delhi Admits Rana Kapoor Family Company Bliss House Into Insolvency Over ₹922-Crore Default
Case Title : J.C. Flower Asset Reconstruction Pvt. Ltd. v. Bliss House Private Limited
Case Number : CP (IB) No. 585/ND/2025
CITATION : 2026 LLBiz NCLT (DEL) 87
The National Company Law Tribunal (NCLT) at Delhi has admitted Bliss House Private Limited, a real estate firm promoted by the family of Yes Bank founder Rana Kapoor, into insolvency over alleged defaults of about Rs 922.46 crore. The tribunal held that an arbitral award can extend the limitation period for initiating insolvency proceedings even if the award is under challenge.
A bench of Judicial Member Ashok Kumar Bhardwaj and Technical Member Reena Sinha Puri admitted a CIRP plea filed by J.C. Flowers Asset Reconstruction Private Limited.
NCLT Upholds ₹1 Notional Admission Of MCD's Rs 6,000-Crore Claim Against MEP Infrastructure
Case Title : Municipal Corporation of Delhi vs Ravindra Kumar Goyal
Case Number : IA (I.B.C) No. 5963/MB/2024 IN CP (IB) No. 973/MB/2023
CITATION : 2026 LLBiz NCLT (MUM) 83
The National Company Law Tribunal (NCLT) at Mumbai has upheld the treatment of a Rs. 6,000-plus crore claim filed by the Municipal Corporation of Delhi in the insolvency process of MEP Infrastructure Developers Ltd. The tribunal refused to interfere with the notional admission of the claim and its classification as unsecured.
A bench of Judicial Member K.R. Saji Kumar and Technical Member Anil Raj Chellan held that the admission of MCD's claim at a notional value of Rs. 1 did not warrant interference. The remaining amount of Rs. 6,073.35 crore continued to be reflected as a contingent claim in the insolvency process.
Case Title : Sarga Hotel Pvt Ltd and Anr vs West Bengal State Electricity Distribution Company Ltd Case Number : I.A.(IB) No. 2481/KB/2024 in C.P. (IB) No. 302/KB/2021
CITATION : 2026 LLBiz NCLT (KOL) 85
The National Company Law Tribunal (NCLT) at Kolkata has held that electricity dues linked to a corporate debtor's lessor cannot be imposed on a successful resolution applicant or used to deny a fresh electricity connection for revival of the corporate debtor.
A bench of Judicial Member Labh Singh and Technical Member Rekha Kantilal Shah observed that once a resolution plan is approved, the corporate debtor is entitled to a clean slate, with only those pre-CIRP claims extinguished that were duly admitted during the insolvency process.
NCLT Mumbai Approves Rs 345.6 Crore Hirani Ventures Plan For E-Commerce Magnum
Case Title : J.C. Flowers Assets Reconstruction Pvt Ltd vs E-Commerce Magnum Solution Ltd
Case Number : IA (I.B.C) (Plan) No. 115/MB/2025 in CP (IB) No. 364/MB/2021
CITATION : 2026 LLBiz NCLT (MUM) 84
The National Company Law Tribunal (NCLT) at Mumbai has approved a Rs. 345.60 crore resolution plan submitted by Hirani Ventures Pvt Ltd for E-Commerce Magnum Solution Ltd. The tribunal said it cannot interfere with the commercial decisions of lenders once a resolution plan complies with the Insolvency and Bankruptcy Code.
A bench of Judicial Member Ashish Kalia and Technical Member Sanjiv Dutt held that the plan met all requirements under Section 30(2) of the Code.
NCLT Mumbai Approves ₹467 Crore JSW Infrastructure Plan For NCR Rail Revival
Case Title : Edelweiss Asset Reconstruction Company Ltd vs NCR Rail Infrastructure Ltd
Case Number : IA (I.B.C) (Plan) No.87/MB/2025 in CP (IB) No.1079/MB/2022
CITATION : 2026 LLBiz NCLT (MUM) 82
The National Company Law Tribunal (NCLT) at Mumbai has approved a Rs 467.47 crore resolution plan submitted by JSW Infrastructure Limited for the revival of NCR Rail Infrastructure Limited, which operates a private freight terminal at Khurja in Uttar Pradesh. The plan was approved after receiving 100 percent voting approval from the Committee of Creditors.
A coram of Judicial Member Ashish Kalia and Technical Member Sanjiv Dutt, in an order pronounced on January 22, 2026, held, “In view of the aforesaid discussions and the settled legal position, we are of the considered view that the Plan meets the requirements of Section 30(2) of the Code and Regulations 37, 38, 38(1A), and 39(4) of the CIRP Regulations. The Plan is not in contravention of any of the provisions of Section 29A of the Code, as undertaken by the SRA, and is in accordance with the law.”
Case Title : India Bank v. Nipun Verma
Case Number : CP (IB) No. 571/MB/2024
CITATION : 2026 LLBiz NCLT (MUM) 81
The National Company Law Tribunal at Mumbai has recently admitted Indian Bank's insolvency petition against Nipun Verma, a personal guarantor for Frost International Limited, after rejecting his objection that the claim was time-barred.
A bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar held that the petition was filed within limitation. The tribunal said limitation was saved both by the Supreme Court's Covid extension orders and by a subsequent acknowledgement of debt in the borrower's audited accounts.
IBC Moratorium Not Automatic, Applies Only After Express Order: NCLT Mumbai
Case Title : Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Limited) vs ICICI Bank Ltd
Case Number : IA (I.B.C)/1983 (MB) 2025 & IA (I.B.C)/2915 (MB) 2025 IN C.P. (IB)/1371(MB)2017 CITATION : 2026 LLBiz NCLT (MUM) 80
The National Company Law Tribunal (NCLT) at Mumbai recently held that a moratorium under the Insolvency and Bankruptcy Code does not commence automatically on the insolvency commencement date and can take effect only when it is expressly declared by the adjudicating authority. On this basis, the tribunal dismissed applications filed by Patanjali Foods Ltd., formerly Ruchi Soya Industries Ltd., which came under Patanjali following approval of a resolution plan, seeking retrospective application of the moratorium against ICICI Bank and reversal of debits amounting to Rs 65.83 crore from the corporate debtor's bank accounts.
Approved Resolution Plan Cannot Be Modified Even If Plan Allows It: NCLT Mumbai
Case Title : Shanti G.D. Ispat and Power Pvt Ltd vs Dhiren Shantilal Shah & Ors
Case Number : I.A. (IB) No. 5533 of 2024 IN C.P. (IB) No. 271/MB/2021
CITATION : 2026 LLBiz NCLT (MUM) 71
The National Company Law Tribunal at Mumbai has held that a resolution plan approved under the Insolvency and Bankruptcy Code cannot be modified or amended after approval by the adjudicating authority, even if the plan itself contains a clause permitting such modification. The tribunal said that once a plan receives statutory approval under Section 31 of the Code, it attains finality and becomes binding on all stakeholders, including the successful resolution applicant, which cannot be reopened on contractual grounds.
OCDs Not Converted Into Equity By Notice Alone: NCLT Admits CIRP Against Arcturus Developers
Case Title : Beacon Trusteeship Limited v. Arcturus Developers Pvt. Ltd
Case Number : CP (IB) – 209/ND/2025
CITATION : 2026 LLBiz NCLT (DEL) 76
The National Company Law Tribunal (NCLT) at Delhi has admitted insolvency proceedings against Arcturus Developers Private Limited for a default of Rs 1,258.73 crore, holding that a mere conversion notice does not legally convert debt into equity unless mandatory statutory steps are completed.
A bench of Judicial Member Ashok Kumar Bhardwaj and Technical Member Reena Sinha Puri held that Optionally Convertible Debentures (OCDs) continue to retain the character of “financial debt” in the absence of actual allotment of equity shares.
Case Title : Joshi v. Shikharchand Jain, Liquidator of Dhanlaxmi Solvex Pvt. Ltd.
Case Number : TP No. 246 of 2019
CITATION : 2026 LLBiz NCLT (MUM) 75
The National Company Law Tribunal, Indore Bench, has held that a labor court award by itself cannot give priority to old workmen's dues in liquidation under the Insolvency and Bankruptcy Code. The tribunal said that priority for workmen's dues is limited to amounts arising in the twenty-four months preceding the liquidation commencement date as per waterfall mechanism
A coram of Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta said a prior labour adjudication cannot alter the IBC waterfall under Section 53.
Case Title : Unity Small Finance Bank Limited v. Bafna Motors Private Limited.
Case Number : 110. IA/80/2026 C.P. (IB)/344(MB)2025
CITATION : 2026 LLBiz NCLT (MUM) 73
The National Company Law Tribunal (NCLT), Mumbai Bench, has recently clarified that a resolution professional's duties under the Insolvency and Bankruptcy Code are limited to taking custody and control of a corporate debtor's assets and do not extend to improving their value.
A bench of Judicial Member Mohan Prasad Tiwari and Technical Member Charanjeet Singh Gulati noted that the corporate insolvency resolution process (CIRP) against Bafna Motors began on October 14, 2025.
Oral Deposit Still Repayable: NCLT Allahabad Directs NBFC To Refund Over ₹30 Lakh To Depositor
Case Title : Nidhi Agarwal v. Shivam Traders and Hire Purchase Pvt. Ltd.
Case Number : CP No. 57/ALD/2024
CITATION : 2026 LLBiz NCLT (PRA) 70
The National Company Law Tribunal (NCLT) at Allahabad has directed a non-banking financial company (NBFC) to refund nearly Rs 30 lakh with interest to a depositor with whom the company did not have any written deposit agreement. The tribunal held that the absence of a written agreement cannot be used as a defense to withhold repayment once receipt of funds is admitted and there is utilization.
NCLT Ahmedabad Admits Another Blu-Smart Entity To Insolvency Over Rs 142 Cr Default
Case Title : Catalyst Trusteeship Limited v. Blu-Smart Charge Private Limited
Case Number : CP(IB) No. 483/7/AHM/2025
CITATION : 2026 LLBiz NCLT (AHM) 66
The National Company Law Tribunal (NCLT) at Ahmedabad has admitted Blu-Smart Charge Private Limited into the Corporate Insolvency Resolution Process after a default of Rs 142.95 crore on debenture payments.
A bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma admitted a petition filed by Catalyst Trusteeship Limited under Section 7 of the Insolvency and Bankruptcy Code. The bench said the material on record clearly showed the existence of a financial debt and a default.
Promoter Fund Infusion To Satisfy Bank's Terms Not a 'Deposit' Under Companies Act: NCLT Mumbai
Case Title : Ansumera Realty & Infra Pvt Ltd vs Vimla Thakarashi Dedhia
Case Number : Company Application 370 of 2022 In Company Petition 412 of 2021
CITATION : 2026 LLBiz NCLT (MUM) 78
The National Company Law Tribunal at Mumbai (NCLT) has held that unsecured money brought into a company by its promoters to meet a bank's lending condition does not qualify as a deposit under the Companies Act, and that repayment proceedings under the deposit provisions cannot be maintained.
A bench of Judicial Member Mohan Prasad Tiwari and Technical Member Charanjeet Singh Gulati passed the order on January 21. The tribunal said, “Once the transaction is covered by the statutory exclusion, the amount so received cannot be treated as a 'deposit' within the meaning of Section 2(31) of the Companies Act, 2013.”
Directors Can't Bypass CEO To Call Board Meeting In Producer Company: NCLT Kochi
Case Title : Mrs Sunija Darsan v. Shelly Chandrangadan and Ors
Case Number : CP(C/ACT)/34(KOB)2021
CITATION : 2026 LLbiz NCLT (KOC) 86
The National Company Law Tribunal (NCLT) at Kochi has set aside a notice convening a board meeting of Harithamrutham Farmers Producer Company Limited, holding that the notice violated mandatory provisions of the Companies Act applicable to producer companies.
A coram of Judicial Member Vinay Goel held that once a Chief Executive Officer is appointed, the power to issue notice of board meetings rests only with the CEO.
NCLT Mumbai Dismisses Workmen's Belated Wage Claims Against IL&FS, Cites Moratorium
Case Title : S.A. Azad, Authorised Representative of Workmen vs Infrastructure Leasing and Financial Services Ltd.
Case Number : IA (COMPANIES.ACT)/120 (MB) 2025 IN CP/3638 (MB) 2018
CITATION : 2026 LLBiz NCLT (MUM) 79
The National Company Law Tribunal (NCLT) at Mumbai has dismissed an application filed by S.A. Azad, the authorised representative of 31 workmen, seeking admission of wage claims against Infrastructure Leasing and Financial Services Ltd. (IL&FS). The tribunal dismissed the application on the grounds that the claims were barred by the 2018 moratorium and filed beyond the extended timelines, while also noting that the workmen were not directly employees of IL&FS.
NCLT Ahmedabad Clears Cross-Border Merger of GNRL Oil & Gas Bahamas Unit With Indian Parent
Case Title : GNRL Oil and Gas Ltd. and Anr.
Case Number : CA (CAA) No. 12 of 2023
CITATION : 2026 LLBiz NCLT (AHM) 77
The National Company Law Tribunal (NCLT) at Ahmedabad has cleared a cross-border merger that will see a Bahamas-based oil and gas company merged into its Indian parent. A coram of Judicial Member Chitra Hankare and Technical Member V G Venkata Chalapathy said the scheme was “bona fide and in the interest of the shareholders and creditors” and approved it under the Companies Act.
NCLT Allahabad Allows India Glycols To Proceed With Bio Pharma, Spirits Demerger
Case Title : India Glycols Limited and Ors.
Case Number : CA (CAA) NO. 36/ALD/2025 (First Motion)
CITATION : 2026 LLBiz NCLT (ALL) 69
The National Company Law Tribunal (NCLT) at Allahabad has recently allowed India Glycols Limited, a listed green chemicals and bio-based products company, to move ahead with the proposed demerger that will split its biopharma business and its spirits and biofuel business into separate companies. The tribunal allowed its first motion application, dispensing with meetings of secured creditors and the resulting companies' shareholders
Delta Corp Moves NCLT Mumbai For Demerger Of Its Gaming And Hospitality Businesses
Delta Corp, a listed gaming and hospitality company popularly known for its casinos under the Deltin brand. has approached the National Company Law Tribunal, Mumbai, seeking approval to demerge its businesses into two separate entities, one focused on the gaming business and the other on hospitality and real estate.
The proposal forms part of a revised composite scheme of arrangement approved by the company's board of directors at its meeting held on December 6, 2024. Pursuant to the board approval, Delta Corp filed the scheme with the stock exchanges and subsequently filed the application under Sections 230 to 232 of the Companies Act.