SUPREME COURT
IBC Moratorium Applies Only To Corporate Debtor, Not Directors Or Promoters: Supreme Court
Case Title : TEJAS J.SHAH & AMISHA T. SHAH & ORS VERSUS MANTRI TECHNOLOGY CONSTELLATIONS PVT.LTD.
Case Number : CIVIL APPEAL NOS.4289-4290 OF 2025
CITATION : 2026 LLBiz SC 248
The Supreme Court on Monday held that the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016, operates only against the corporate debtor. It ruled that courts or adjudicating authorities cannot enlarge its scope to cover directors, promoters, subsidiary companies, personal guarantors or any other persons unless the statute expressly provides so. The court observed that the scope of the moratorium is statutory and must remain confined to what Section 14 contemplates.
Case Title : ONE CITY INFRASTRUCTURE PRIVATE LIMITED Versus GHAZIABAD DEVELOPMENT AUTHORITY AND ORS.
Case Number : C.A. No. 4473/2026
The Supreme Court on Thursday criticised the Ghaziabad Development Authority (GDA) and the Uttar Pradesh government for delaying approvals required to implement the resolution plan for Ansal Urban Condominiums Pvt. Ltd. (AUCPL), saying the authorities' "callous attitude" had forced around 1,600 homebuyers to litigate for nearly two decades. The court was hearing an appeal filed by One City Infrastructure Pvt. Ltd., the successful resolution applicant (SRA) for AUCPL, against the National Company Law Appellate Tribunal's (NCLAT) orders dated April 22, 2024, and February 5, 2026.
Supreme Court Upholds CIRP Against Rana Kapoor-Linked Bliss Companies
Case Title : BINDU KAPOOR SUSPENDED DIRECTOR BLISS ABODE PRIVATE LIMITED vs MAMTA BINANI RESOLUTION PROFESSIONAL
Case Number : C.A. 8431/2026
The Supreme Court on Friday refused to interfere with the National Company Law Appellate Tribunal's (NCLAT) judgment upholding the initiation of corporate insolvency resolution proceedings (CIRP) against Rana Kapoor-linked Bliss Abode Pvt. Ltd. and Bliss House Pvt. Ltd. It dismissed the appeals filed by suspended director Bindu Kapoor. A bench of Justices Sanjay Kumar and Sanjeev Sachdeva declined to interfere with the NCLAT's decision upholding the admission of Section 7 applications filed by JC Flowers Asset Reconstruction Pvt. Ltd.
Uncrystallised EPFO Interest, Damages Are Contingent Liabilities Under IBC: Supreme Court
Case Title : EMPLOYEES PROVIDENT FUND ORGANISATION VERSUS RACHNA JHUNJHUNWALA & ANR.
Case Number : Civil Appeal No(s). 9768/2026
CITATION : 2026 LLBiz (SC) 254
The Supreme Court has recently held that interest and damages on unpaid provident fund dues, if not determined before the commencement of the Corporate Insolvency Resolution Process (CIRP), are contingent liabilities. "Though PF dues are excluded from the liquidation estate under Section 36(4)(iii) of IBC, liability of CD towards interest and damages payable under Section 7Q and 14B of the 1952 Act, if not determined and finalized before CIRP commencement, would fall in the category of a contingent liability," the court ruled.
Underlying Contract's Subsistence Cannot Revive Time-Barred Debt Under IBC: Supreme Court
Case Title : Srinivasa Reddy Velagala v. Sravanthi Infratech Pvt Ltd
Case Number : Civil Appeal No. 876 of 2021
CITATION : 2026 LLBiz SC 272
The Supreme Court on Wednesday held that the mere subsistence of an underlying contract cannot give a creditor a continuing cause of action for an IBC default that has already occurred. It consequently ruled that a time-barred debt cannot be revived through insolvency proceedings. Justices J.B. Pardiwala and Manoj Misra held that the operational creditor's claims had crystallized in 2012, but it failed to pursue them within three years. The Court held that the insolvency application filed in 2018 was therefore barred by limitation.
Case Title : DAVIS KOOTTALA VARKEY & ORS. VERSUS SAMSON T. GEORGE & ORS.
Case Number : SPECIAL LEAVE PETITION No.18523/2026
CITATION : 2026 LLBiz SC 278
The Supreme Court has set aside a Kerala High Court order that entertained a writ petition challenging an NCLT order passed during liquidation proceedings.
Supreme Court To Examine If Winding-Up Petitions Transferred From HC To NCLT Must Meet IBC Threshold
Case Title : M/S AIDEM VENTURES PVT. LTD. VS. M/S. SKYLINE RADIO NETWORK LTD.
Case Number : DIARY NO. - 40757/2026
The Supreme Court on Wednesday agreed to examine whether a winding-up petition filed before a High Court can be subjected to the ₹1 crore minimum default threshold under the Insolvency and Bankruptcy Code after being transferred to the National Company Law Tribunal.
The Supreme Court on Thursday stayed the operation of the National Company Law Appellate Tribunal's (NCLAT) July 29, 2026.
The NCLAT held that the NCLT can adjudicate a dispute concerning an easementary right of way under the Insolvency and Bankruptcy Code where the dispute has a direct nexus with the insolvency or liquidation proceedings and affects value maximisation of the corporate debtor's assets.
Case Title : DEVENDRA SINGH YADAV AND ANR. vs BHUVAN MADAN AND ANR.
Case Number : C.A. No. 9798/2026
The Supreme Court on Tuesday upheld the National Company Law Appellate Tribunal's refusal to grant relief to an allottee of a Jaiprakash Associates Ltd. project, who had sought refund of around ₹4 lakh demanded from him towards common area charges after he had taken possession of his unit. A Bench comprising Chief Justice of India Surya Kant and Justices Joymalya Bagchi and V. Mohana after hearing the case, refused to interfere with the NCLAT order dated May 14, 2026.
Case Title : CANARA BANK (E-SYNDICATE BANK) VS. EQUINOX INDIA DEVELOPMENTS LIMITED
Case Number : DIARY NO. - 36294/2026
The Supreme Court on Monday issued notice on Canara Bank's challenge to the NCLAT order setting aside the admission of its Section 7 insolvency petition against Equinox India Developments Ltd., formerly Indiabulls Real Estate Ltd.
Case Title : STATE BANK OF INDIA AND ORS. Versus MANOJ KUMAR DAS AND ORS.
Case Number : C.A. No. 10778-10780/2026
The Supreme Court on Monday, 31 August, declined to interfere with the National Company Law Appellate Tribunal's (NCLAT) 30 June order which held that provident fund, gratuity and pension dues payable to Jet Airways' workmen do not form part of the liquidation estate, even where segregated funds were not available on the liquidation commencement date. A Bench of Chief Justice Surya Kant with Justices Joymalya Bagchi and V. Mohana refused to interfere with the order, while leaving the questions of law raised by the financial creditors open for consideration in an appropriate future case.
HIGH COURT
KSEB Cannot Demand Previous Owner's Power Dues From Auction Purchaser: Kerala High Court
Case Title : G. Nagendran v. Kerala State Electricity Board and Anr
Case Number : WA No. 1718 of 2022
CITATION : 2026 LLBiz HC(KER) 146
The Kerala High Court on Tuesday held that the Kerala State Electricity Board (KSEB) cannot insist that an auction purchaser of the assets of a company in liquidation clear the previous consumer's electricity arrears as a condition for obtaining a fresh electricity connection. A Division Bench of Justice A.K. Jayasankaran Nambiar and Justice Preeta A.K. ruled that the Electricity Act, 2003, the Kerala Electricity Supply Code, 2005; and the KSEB Terms and Conditions of Supply, 2005 do not permit recovery of an erstwhile consumer's dues from a subsequent purchaser seeking a fresh electricity connection.
Case Title : Tata Capital Financial Services Limited v. Neel Motors LLP and Ors
Case Number : Commercial Arbitration Petition No. 620 of 2021
CITATION : 2026 LLBiz HC(BOM) 430
The Bombay High Court has ruled that a recent amendment removing the automatic interim moratorium available to personal guarantors to corporate debtors under the Insolvency and Bankruptcy Code applies even to pending insolvency proceedings. Justice Somasekhar Sundaresan observed that the amendment, which took effect on May 26, 2026, applies to pending proceedings and operates retroactively, not retrospectively.
Case Title : Canbank Financial Services Ltd Versus Pallav Sheth
Case Number : SHOW CAUSE NOTICE NO. 2 OF 2025 IN OFFICIAL ASSIGNEE'S REPORT NO. 9 OF 2024 IN INSOLVENCY PETITION NO. 49 OF 1996
CITATION : 2026 LLBiz HC (BOM) 447
The Bombay High Court on 7 August held insolvent Pallav Sheth guilty of contempt under Section 33(4) of the Insolvency Act, 1909 for wilfully failing to disclose his assets and bank accounts to the Official Assignee, and sentenced him to one month's simple imprisonment with a fine of Rs. 2,000, with one week's further imprisonment in default. Justice N.J. Jamadar observed that an insolvent who makes positive statements on oath concealing assets and bank accounts cannot later invoke limitation to defeat contempt proceedings arising from such concealment.
Case Title : KANWAL CHAUDHARY vs INSOLVENCY AND BANKRUPTCY BOARD OFINDIA & ORS.
Case Number : W.P.(C) 9410/2021
The Delhi High Court on Thursday held that advocates rendering services as insolvency professionals must obtain GST registration, ruling that such services are subject to the forward charge mechanism and not the reverse charge mechanism applicable to legal services provided by advocates. A bench of Justices Pratibha M. Singh and Shail Jain passed the judgment on a petition filed by advocate Kanwal Chaudhary challenging an Insolvency and Bankruptcy Board of India (IBBI) order dated March 9, 2021.
Kerala High Court Expunges NCLT's Adverse Remarks Against Union Bank, Sets Aside ₹1 Lakh Cost
Case Title : Union Bank of India v. M/s Air Travel Enterprises India Limited
Case Number : WP(C) No. 25401 of 2026
CITATION : 2026 LLBiz HC(KER) 162
The Kerala High Court has expunged adverse observations made by the National Company Law Tribunal, Kochi Bench, against Union Bank of India over errors in an application seeking withdrawal of insolvency proceedings. The court also held that the bank would not be required to deposit the ₹1 lakh cost imposed by the tribunal. Justice Harisankar V. Menon observed that the bank had made mistakes in the application. These included invoking the wrong provision and not placing the settlement proposal before the Committee of Creditors.
Case Title : Jagmohan Garg v. National Spot Exchange Ltd and Anr
Case Number : Application No. 1749 of 2024
CITATION : 2026 LLBiz HC(BOM) 465
The Bombay High Court has held that personal insolvency proceedings initiated by a company director do not require cheque-bounce proceedings against the director to be stayed where the dishonoured cheque was issued towards the company's debt.
Insolvency Does Not Bar Liquidator From Recovering Chit Company Dues: Madras High Court
Case Title : P.V Krishnaprasad v. The Inspector General of Registration and Ors
Case Number : Crl.OP No. 21824 of 2026
CITATION : 2026 LLBiz HC(MAD) 240
The Madras High Court on 10 August held that the pendency of insolvency proceedings against a chit company does not prevent its Liquidator from taking steps under the Chit Funds Act, 1982 to recover amounts due to the company. Justice D. Bharatha Chakravarthy directed the Economic Offences Wing (EOW) to furnish the Liquidator of Thiripura Chits Private Limited with a complete set of investigation materials so that he could initiate recovery proceedings under the Chit Funds Act.
RERA Recovery Proceedings Not Automatically Illegal During CIRP: Karnataka High Court
Case Title : Mr. M Govind Reddy and Anr v. The State of Karnataka and Ors
Case Number : Writ Petition No. 23165 of 2026
CITATION : 2026 LLBiz HC (KAR) 147
The Karnataka High Court on 11 August held that the mere pendency of the Corporate Insolvency Resolution Process (CIRP) against a developer does not automatically render recovery proceedings initiated under another statute illegal.
IBC Amendment Excluding Personal Guarantors From Interim Moratorium Is Retroactive: Delhi High Court
Case Title : IDBI TRUSTEESHIP SERVICES LIMITED vs MANISH JAIN & ORS.
Case Number : CS(COMM) 800/2025
CITATION : 2026 LLBiz HC (DEL) 859
The Delhi High Court on 19 August held that the amendment inserting Section 96(4) into the Insolvency and Bankruptcy Code, 2016 (IBC) is retroactive and applies to pending insolvency applications, even though the Amending Act does not expressly say so.
Bombay High Court Upholds IBBI's Power To Levy 0.25% Fee On Successful Resolution Plans
Case Title : Hazel Mercantile Limited and Others v, Insolvency and Bankruptcy Board of India and Anr
Case Number : Writ Petition No. 703 of 2023
CITATION : 2026 LLbiz HC(BOM) 467
The Bombay High Court on 19 August upheld the validity of Regulation 31A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, holding that the provision enabling the IBBI to levy a regulatory fee on successful resolution plans is neither ultra vires the Insolvency and Bankruptcy Code, 2016 nor violative of Article 14 of the Constitution.
NCLAT
Easement Right Disputes Affecting Liquidation Fall Within NCLT's Jurisdiction: NCLAT New Delhi
Case Title : ARC Research and Development Centre Limited & Ors Vs Liquidator of Adya Oils and Chemicals Ltd & Ors
Case Number : Company Appeal (AT) (Insolvency) 292/2025
CITATION : 2026 LLBiz NCLAT 308
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 29 July held that the National Company Law Tribunal (NCLT) can decide disputes over an easementary right of way under the Insolvency and Bankruptcy Code, 2016 (IBC) where the dispute has a direct connection with the corporate insolvency resolution process or liquidation and affects value maximisation of the corporate debtor's assets.
Operational Creditor Cannot Use Conflicting Debt Documents To Extend Limitation: NCLAT New Delhi
Case Title : Sturdy Industries Limited Vs Surya Irrigation Private Limited
Case Number : Company Appeal (AT) (Insolvency) 607/2025
CITATION : 2026 LLBiz NCLAT 309
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 29 July held that an operational creditor cannot invoke insolvency proceedings by relying on inconsistent documents regarding the debt claimed and simultaneously seek to treat those documents as an acknowledgement of liability to extend the limitation period under Section 18 of the Limitation Act, 1963. A Bench comprising Judicial Member Justice N Seshasayee and Technical Member Arun Baroka dismissed the appeal filed by Sturdy Industries Limited against the order of the Jaipur Bench of the National Company Law Tribunal (NCLT), which had rejected its insolvency petition as time-barred and affected by pre-existing disputes.
NCLAT Dismisses DoT Appeal Against Rolta India Resolution Plan, Cites Its Implementation
Case Title : UNION OF INDIA Vs ROLTA INDIA LIMITED & Ors
Case Number : Company Appeal (AT) (Insolvency) 399/2026
CITATION : 2026 LLBiz NCLAT 310
The National Company Law Appellate Tribunal (NCLAT) on Thursday dismissed the Department of Telecommunications' (DoT) appeal challenging the National Company Law Tribunal's (NCLT) approval of the ₹900 crore resolution plan for Rolta India Limited. It held that once a resolution plan has been approved and fully implemented, statutory creditors cannot seek to reopen claims they failed to pursue in time.
NCLAT Stays NCLT Order Upholding Rejection Of ARCIL's ₹3,482 Crore Claim Against JCT
Case Title : Asset Reconstruction Company (India) Ltd. Vs Umesh Garg
Case Number : Company Appeal (AT) (Insolvency) 1246/2026
CITATION : 2026 LLBiz NCLAT 311
The National Company Law Appellate Tribunal (NCLAT) has recently kept in abeyance a National Company Law Tribunal (NCLT) order that upheld the Resolution Professional's rejection of Asset Reconstruction Company (India) Ltd.'s (ARCIL) financial claim against textile manufacturer JCT Ltd. The appellate tribunal observed that the issue of limitation must be decided before the committee of creditors (CoC) votes on a resolution plan.
NCLAT Sets Aside Liquidator Appointment After NCLT Overlooked CoC's Recommendation
Case Title : Rajesh Mehru Vs Punjab National Bank & Rajeesh Gupta
Case Number : Company Appeal (AT) (Insolvency) 530/2026
CITATION : 2026 LLBiz NCLAT 312
The National Company Law Appellate Tribunal (NCLAT) at Delhi has ruled that an adjudicating authority cannot appoint a liquidator without considering the Committee of Creditors' (CoC) unanimous recommendation. It set aside an NCLT order that independently appointed an insolvency professional from an IBBI panel instead of considering the CoC's choice. A bench of Judicial Member Justice Sharad Kumar Sharma and Technical Members Arun Baroka and Indevar Pandey observed that Section 34(1) of the Insolvency and Bankruptcy Code makes the resolution professional's continuation as liquidator the default position.
NCLAT New Delhi Sets Aside Monte Carlo Insolvency Order After Settlement & Prior Dispute Admission
Case Title : Mrunal Kanubhai Patel Vs Vanshita Transport
Case Number : Company Appeal (AT) (Insolvency) 1214/2026
CITATION : 2026 LLBiz NCLAT 313
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 3 August held that an insolvency process cannot continue once the operational creditor's claim has been fully settled and the creditor has no objection to setting aside the admission order. A Bench comprising Judicial Member Justice Mohd Faiz Alam Khan with Technical Members Indevar Pandey and Arun Baroke set aside the order passed by the Ahmedabad Bench of the National Company Law Tribunal (NCLT) admitting the Section 9 petition (provision allowing an operational creditor to initiate insolvency proceedings for unpaid operational debt) filed by Vanshita Transport against Monte Carlo Limited.
NCLAT Upholds Order Directing Suspended Log 9 Directors To Help Gensol RP Recover Leased EVs
Case Title : AKSHAY SINGHAL & Ors Vs KESHAV KHANEJA & Ors
Case Number : Company Appeal (AT) (Insolvency) 1364/2026
CITATION : 2026 LLBiz NCLAT 315
The National Company Law Appellate Tribunal (NCLAT) has upheld directions requiring the suspended directors of electric mobility company Log 9 Mobility Pvt. Ltd. to assist the resolution professional (RP) of EV leasing company Gensol EV Lease Ltd. in identifying and recovering leased electric vehicles. It ruled that the National Company Law Tribunal (NCLT) has wide powers under Section 60(5) of the Insolvency and Bankruptcy Code (IBC) to issue such directions during insolvency proceedings.
NCLAT Reserves Orders On Ex-Employee's Challenge To Jet Airways Aircraft Sale
Case Title : Aman Monga & Anr. Vs The Liquidator of Jet Airways (India) Ltd. & Ors.
Case Number : Company Appeal (AT) (Insolvency) 1257/2026
CITATION : 2026 LLBiz NCLAT 329
The National Company Law Appellate Tribunal (NCLAT) on Thursday reserved orders on an appeal filed by former Jet Airways employee Aman Monga challenging the dismissal of his application seeking to set aside the sale of certain Boeing 777-300ER aircraft assets during the airline's liquidation proceedings. The bench of Judicial Member Justice Mohammad Faiz Alam Khan and Technical Member Arun Baroka also granted the parties three days to file written submissions not exceeding two pages.
Case Title : Nitu Mittal Vs Rajesh Bansal & Anr
Case Number : Company Appeal (AT) (Insolvency) 297/2026
CITATION : 2026 LLBiz NCLAT 316
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has observed that an advocate's duty extends beyond diligently conducting a case. It includes maintaining regular communication with the client and informing them about the status of proceedings. A bench of Judicial Member Justice Mohammad Faiz Alam Khan and Technical Member Naresh Salecha made the observation while setting aside an NCLT order that had dismissed an application seeking recall of an order setting proceedings ex-parte.
NCLAT Dismisses Tropical Ventures' Plea To Halt Distribution Of INCAB Resolution Plan Funds
Case Title : Tropical Ventures Company Ltd Vs INCAB Industries Ltd
Case Number : I.A. No. 5101 of 2026 in Company Appeal (AT) (Insolvency) 662/2024
CITATION : 2026 LLBiz NCLAT 317
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently dismissed an application filed by Tropical Ventures Company Ltd. seeking to prevent distribution of funds under Vedanta Ltd.'s resolution plan for INCAB Industries Ltd. Tropical filed the application while its challenge to the NCLAT's June 30, 2026, judgment was pending before the Supreme Court. It wanted the amount under the resolution plan to be kept in an interest-bearing account until its ₹295 crore claim was finally adjudicated.
Time-Barred Insolvency Plea Can Be Rejected Without RP Appointment: NCLAT New Delhi
Case Title : Prabhaben Ravjibhai Harkani Vs Bank of Baroda & Axis Bank
Case Number : Company Appeal (AT) (Insolvency) 1002/2025
CITATION : 2026 LLBiz NCLAT 318
On 7 August, the New Delhi National Company Law Appellate Tribunal (NCLAT) held that the National Company Law Tribunal (NCLT) can reject a personal guarantor's insolvency application at the threshold if it is ex facie barred by limitation, without first appointing a Resolution Professional (RP) under Section 97 of the Insolvency and Bankruptcy Code, 2016 (IBC).
A Bench of Judicial Member Justice Mohd Faiz Alam Khan with Technical Members Arun Baroka and Indevar Pandey dismissed the appeal filed by Prabhaben Ravjibhai Harkani, personal guarantor of Shubham Ginning Pressing Pvt. Ltd., challenging the Ahmedabad Bench of the NCLT's order rejecting her Section 94 insolvency petition as time barred.
NCLAT New Delhi Says IRP Cannot Keep Creditors And Homebuyers Satisfied In Real Estate Insolvency
Case Title : Catalyst Trusteeship Limited & DCB Bank Limited Vs Suman Kumar Verma
Case Number : Company Appeal (AT) (Insolvency) 1539/2025
CITATION : 2026 LLBiz NCLAT 319
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 4 August held that an Interim Resolution Professional (IRP) cannot be expected to keep all stakeholders satisfied in a real estate insolvency process, where financial creditors and homebuyers have inherently conflicting interests. A Bench of Judicial Member Justice Mohd Faiz Alam Khan and Technical Member Naresh Salecha dismissed appeals seeking the replacement of the IRP in the insolvency proceedings of Swastik Homebuild Pvt. Ltd., observing that an IRP must remain neutral while balancing the competing interests of financial creditors and homebuyers.
Case Title : Nuzhat Aisha Naseer & Ors Vs Canara Bank & 3 Ors
Case Number : Company Appeal (AT) (Insolvency) 360/2026
CITATION : 2026 LLBiz NCLAT 320
The National Company Law Appellate Tribunal (NCLAT), Chennai, has observed that the law shows greater sympathy towards debt-trapped individuals than debt-trapped companies. It held that this approach gives tribunals greater flexibility to consider relief from bankruptcy. It has given a family of personal guarantors a fresh opportunity to work towards repayment and seek relief from bankruptcy despite their earlier failure to submit a repayment plan.
Case Title : Byju Raveendran Vs GLAS Trust Company LLC & Shailendra Ajmera
Case Number : Company Appeal (AT) (Insolvency) 383/2026
CITATION : 2026 LLBiz NCLAT 321
The National Company Law Appellate Tribunal (NCLAT), Chennai, on Monday dismissed an appeal filed by Byju Raveendran, suspended director and promoter of Think & Learn Pvt. Ltd., challenging Glas Trust's majority voting share in the company's Committee of Creditors (CoC).
NCLAT New Delhi Dismisses Chemstar Director's Appeal Against CIRP Admission Over ₹11.87 Crore Claim
Case Title : Ashutosh Majumdar Vs Omkara Asset Reconstruction Private Limited
Case Number : Company Appeal (AT) (Insolvency) 351/2025
CITATION : 2026 LLBiz NCLAT 322
On 18 August, the New Delhi National Company Law Appellate Tribunal (NCLAT) held that the National Company Law Tribunal (NCLT) need not determine the exact quantum of dues while admitting a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), once debt and default are established and the default exceeds the statutory threshold of Rs. 1 crore
Mere Notice Seeking Reply In SFIO Investigation Application Not Appealable: NCLAT New Delhi
Case Title : CFM Asset Reconstruction Private Limited Vs Canterbury Real Tech Private Limited Case Number : Company Appeal (AT) (Insolvency) 1556/2025
CITATION : 2026 LLBiz NCLAT 323
On 18 August, the New Delhi National Company Law Appellate Tribunal (NCLAT) held that an order merely directing parties to issue notice and file replies does not cause immediate prejudice and cannot form the subject matter of an appeal.
NCLAT Restores Insolvency Petition Dismissed After Counsel Missed Hearing
Case Title : Icatalyst Wealth Advisors Pvt. Ltd. Vs Sir John Bakeries India Pvt. Ltd.
Case Number : Company Appeal (AT) (Insolvency) 2047/2025
CITATION : 2026 LLBiz NCLAT 324
The National Company Law Appellate Tribunal (NCLAT), Delhi, has held that an insolvency petition dismissed for want of prosecution can be sought to be restored through a restoration application accompanied by a plea for condonation of delay. The tribunal ruled that a litigant should not be made to suffer when the non-appearance was due to a bona fide mistake by counsel. The bench comprised Judicial Member Justice Sharad Kumar Sharma and Technical Member Indevar Pandey.
Case Title : Sumit Bansal & Ors Vs Rajeev Lochan
Case Number : Company Appeal (AT) (Insolvency) 858/2025
CITATION : 2026 LLBiz NCLAT 325
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 19 August held that homebuyers who invoke arbitration to seek refund of their investment cannot simultaneously claim the status of financial creditors under the Insolvency and Bankruptcy Code (IBC), holding that their conduct amounts to giving up their status as allottees claiming financial debt.
Case Title : Sun Paper Ltd. Vs S. Dhanapal
Case Number : Company Appeal (AT) (Insolvency) 205/2023
CITATION : 2026 LLBiz NCLAT 327
The National Company Law Appellate Tribunal (NCLAT) at Chennai has ruled that a scheme proponent cannot be compelled to forfeit its Earnest Money Deposit (EMD) guarantee after choosing to withdraw once its scheme was not accepted in the liquidation process.
Case Title : Indian Bank Vs Mrs. Sneha Dharmendra Shah & Anr.
Case Number : Company Appeal (AT) (Insolvency) 1454/2026 & 1457/2026
CITATION : 2026 LLBiz NCLAT 328
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 19 August held that where a repayment plan submitted by personal guarantors has been approved in principle by the sole financial creditor, reasonable time must be granted to complete the Personal Insolvency Resolution Process (PIRP), as denying such time would defeat the purpose of the process.
NCLAT New Delhi Upholds Jet Airways Aircraft Sale, Dismisses Ex-Employees' Challenge
Case Title : Aman Monga & Anr. Vs The Liquidator of Jet Airways (India) Ltd. & Ors.
Case Number : Company Appeal (AT) (Insolvency) 1257/2026
CITATION : 2026 LLBiz NCLAT 329
On 21 August, the New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) dismissed an appeal filed by former employees of Jet Airways (India) Limited challenging the sale of the airline's aircraft assets during liquidation. Judicial Member Justice Mohd Faiz Alam Khan and Technical Member Arun Baroka held that the former employees, whose dues would be paid under the waterfall mechanism under Section 53 of the Insolvency and Bankruptcy Code (IBC), had no basis to challenge the liquidator's completed sale process.
NCLAT New Delhi Clarifies Property Inspection For Liquidation Does Not Affect Possessory Rights
Case Title : Middle East Management Services LLP & Anr. Vs Birendra Kumar Agarwal & Ors
Case Number : Company Appeal (AT) (Insolvency) 1518/2026
CITATION : 2026 LLBiz NCLAT 330
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 21 August held that an order directing inspection and measurement of property claimed to form part of a corporate debtor's liquidation estate does not affect disputed ownership or possessory rights when the inspection is limited to identifying and segregating the corporate debtor's property.
Personal Guarantor Cannot Extend Limitation Through Own OTS Proposals: NCLAT New Delhi
Case Title : Kanta Gupta Vs Bank of India & Ors
Case Number : Company Appeal (AT) (Insolvency) 1058/2026
CITATION : 2026 LLBiz NCLAT 331
The National Company Law Appellate Tribunal (NCLAT), New Delhi, on 21 August held that a personal guarantor cannot use her own one time settlement (OTS) proposals to extend limitation under Section 18 of the Limitation Act, 1963, while reiterating that limitation for initiating personal insolvency proceedings begins from the date of invocation of the guarantee.
NCLAT Chennai Restores CIRP Of Jeppiaar Cements, Says Fairness Must Prevail In Insolvency Resolution
Case Title : Babu Manoharan Jaikumar Christhurajan Vs Umesh Garg & Ors
Case Number : Company Appeal (AT) (Insolvency) 358/2022
CITATION : 2026 LLBiz NCLAT 333
The Chennai National Company Law Appellate Tribunal (NCLAT) has set aside the liquidation order dated 26 August 2022 against Jeppiaar Cements Pvt. Ltd., while observing that where multiple options exist to resolve a corporate debtor's insolvency, fairness should prevail, including settlement under Section 12A of the Insolvency and Bankruptcy Code (IBC), which permits the withdrawal of the CIRP upon a successful settlement with creditors.
NCLAT New Delhi To Hear Creditors' Challenge To NCLT Approval Of Subhash Chandra's ₹6.25 Crore Plan
On Monday, 31 August, the National Company Law Appellate Tribunal (NCLAT), New Delhi will hear creditors' appeal against the National Company Law Tribunal (NCLT), New Delhi Bench's approval of Dr. Subhash Chandra's Rs. 6.25 crore repayment plan against admitted claims of Rs. 22,006.57 crore. A Bench comprising officiating Chairperson Justice Yogesh Khanna with Technical Members Barun Mitra and Ajai Das Mehrotra agreed to hear the appeal urgently after Solicitor General Tushar Mehta, appearing for creditors including LIC Housing Finance, HDFC Bank and Union Bank of India, sought an urgent hearing; the Bench fixed the matter for 10:30 am on Tuesday.
NCLT
Impleadment Plea Can't Be Rejected Because Locus Standi Was Challenged Before It: NCLT Bengaluru
Case Title : Manyta Infrastructure Developments Pvt. Ltd v. Bouyant Technology Constellations Pvt. Ltd.
Case Number : CA No. 37/2026 in CP (IB) No. 121/BB//2025
CITATION : 2026 LLBiz NCLT (BEN) 756
The National Company Law Tribunal (NCLT), Bengaluru Bench, has held that an impleadment application cannot be rejected merely because it was filed after an objection to the petitioner's locus standi. "The scope of consideration in an application under Order I Rule 10(2) CPC is not confined to examining whether a party strengthens the case of the Applicant but for the tribunal to assess whether the presence of such party is necessary for complete, effective and final adjudication of the issues/controversy involved in the proceedings," the tribunal held.
NCLT Ahmedabad Dismisses Jindal's Insolvency Plea Against Kunal Structure For Failing IBC Threshold
Case Title : Jindal (India) Limited Vs Kunal Structure (India) Private Limited
Case Number : CP(IB)/14(AHM)2023
CITATION : 2026 LLBiz NCLT (AHM) 753
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 17 July dismissed the insolvency application filed by Jindal (India) Limited against Kunal Structure (India) Private Limited, holding that disputes regarding short-weight and LC charges reduced the undisputed claim below the statutory threshold of 1 crore.
Case Title : Elite Design Private Limited Vs Colorbar Cosmetics Private Limited
Case Number : CP (IB)-228/ND/2026
CITATION : 2026 LLBiz NCLT(DEL) 754
The New Delhi National Company Law Tribunal (NCLT) on 21 July held that an insolvency petition cannot be admitted when the Corporate Debtor establishes a genuine pre-existing dispute supported by substantial material. A Bench comprising Judicial Member Ashok Kumar Bhardwaj and Technical Member Banwari Lal Meena dismissed the insolvency petition filed by Elite Design Private Limited against Colorbar Cosmetics Private Limited, holding that the dispute raised by the latter was not a sham defence.
Separate Corporate Debtors' Defaults Cannot Be Combined To Meet ₹1 Crore IBC Threshold: NCLT Mumbai
Case Title : Mr R Srikant Ayyer Vs Neogreen Agriculture Llp
Case Number : C.P.(IB)/654(MB)2026
CITATION : 2026 LLBiz NCLT (MUM) 759
The Mumbai National Company Law Tribunal (NCLT) on 7 July held that a financial creditor cannot aggregate defaults owed by different corporate debtors to meet the minimum default threshold under Section 4 of the Insolvency and Bankruptcy Code, 2016 (IBC), even if the entities belong to the same corporate group. A Bench of Judicial Member Nilesh Sharma and Technical Member Sameer Kakar dismissed an insolvency application filed by Mr. R. Srikant Ayyer against Neogreen Agriculture LLP after finding that the default attributable to the respondent was below the statutory threshold of Rs. 1 crore.
Case Title : Jaykishan R Rathi Vs Ashok Kumar Baid & Ors
Case Number : IA No. 281 of 2023 In CP (IB) No. 6/NCLT/AHM/2021
CITATION : 2026 LLBiz NCLT (AHM) 757
The Ahmedabad National Company Law Tribunal (NCLT) on 13 July held that a consortium lender cannot unilaterally release a mortgaged property under a One Time Settlement (OTS) if such release prejudices the pari passu security interest of another secured creditor. A Bench comprising Judicial Member Chitra Hankare and Technical Member Dr. V.G. Venkata Chalapathy allowed the application and directed the suspended management of Baid Industries to restore Rs. 5,14,24,288 along with 12% simple interest to the liquidator.
Forensic Audit Report Alone Cannot Prove Fraudulent Trading Under IBC Section 66: NCLT Ahmedabad
Case Title : Shri Ramchandra Dallaram Choudhary Vs Gulabchand Jain & Anr.
Case Number : IA/505(AHM)2021 in CP(IB) 342 of 2018
CITATION : 2026 LLBiz NCLT (AHM) 758
The Ahmedabad National Company Law Tribunal (NCLT) on 13 July held that a forensic audit report cannot, by itself, establish fraudulent trading under Section 66 of the Insolvency and Bankruptcy Code, 2016 (IBC), unless the Resolution Professional independently examines the transactions and forms the statutory opinion required under Regulation 35A of the CIRP Regulations. A Bench of Judicial Member Chitra Hankare and Technical Member Dr VG Venkata Chalapathy rejected the liquidator's application against former directors of Vijay Timber Industries Pvt Ltd, holding that the Resolution Professional had failed to independently determine whether the transactions amounted to fraudulent trading.
NCLT Chennai Admits Insolvency Plea Against Pradhin Limited Over ₹12.98 Crore Default
Case Title : Tatad Nayan Gautambhai v. Pradhin Limited
Case Number : CP(IBC)/39(CHE)/2026
CITATION : 2026 LLBiz NCLT(CHE) 762
The National Company Law Tribunal (NCLT) at Chennai has admitted an insolvency petition against Pradhin Limited after finding that the financial creditor had established the existence of a financial debt and default of ₹12.98 crore. The shares of Pradhin Limited are listed on Bombay Stock Exchange Limited. The tribunal initiated the Corporate Insolvency Resolution Process against the company and appointed Rajesh Jasti as the interim resolution professional.
NCLT Ahmedabad Rejects Machino Polymers' Plea To Revise Claim In Sintex-BAPL Ltd Insolvency Case
Case Title : Machino Polymers Limited Vs Ashish Chhhawchharia
Case Number : IA/42(AHM)2026 in CP(IB) 759 of 2019
CITATION : 2026 LLBiz NCLT (AHM) 763
The Ahmedabad National Company Law Tribunal (NCLT) on 2 July held that an approved Resolution Plan cannot be modified to revise admitted claims after the conclusion of the Corporate Insolvency Resolution Process (CIRP), as it attains finality and binds all stakeholders. A Bench comprising Judicial Member Shammi Khan and Technical Member Sanjeev Sharma dismissed an application filed by Machino Polymers Limited seeking revision of its admitted claim against Sintex-BAPL Ltd., holding that no direction could be issued to the Resolution Professional to alter admitted claims or records after approval of the Resolution Plan.
NCLT Ahmedabad Rejects Insolvency Plea Against Manpasand Beverages Over Time-Barred ₹34.40 Cr Claim
Case Title : Do Well Moulds Vs Manpasand Beverages Ltd
Case Number : CP(IB) 764 of 2019
CITATION : 2026 LLBiz NCLT (AHM) 765
The Ahmedabad National Company Law Tribunal (NCLT) on 14 July dismissed the insolvency application filed by Do Well Moulds against Manpasand Beverages Ltd., holding that the claim was time-barred and involved pre-existing disputes regarding the genuineness of the transactions. A Bench comprising Judicial Member Chitra Hankare and Technical Member Dr. VG Venkata Chalapathy noted that an insolvency application cannot be admitted where the claim is barred by limitation, disputed prior to the demand notice, and arises from transactions allegedly linked to fraudulent circular trading.
Subsequent Shareholding Changes Cannot Retrospectively Cleanse Related-Party Status: NCLT Chandigarh
Case Title : Mona Portfolio Ltd. Vs Mohit Chawla
Case Number : I.A.(I.B.C)/1082(CH)2025 in CP (IB) No. 248/Chd/Chd/2019
CITATION : 2026 LLBiz NCLT(CHA) 766
The Chandigarh bench of the National Company Law Tribunal (NCLT) has recently ruled that a subsequent change in shareholding or directorship cannot retrospectively erase a company's related-party status for transactions entered into earlier. Dismissing an application filed by Mona Portfolio Ltd., the court held that the company had failed to establish that its claim against Chandigarh Overseas Pvt. Ltd. was a financial debt.
One Workman Cannot Represent Others In IBC Proceedings Without Authorisation: NCLT Kochi
Case Title : Devassykutty C.R and Ors v. Mr. Kizhakkekara Kuriakose Jose and Anr
Case Number : IA(IBC)/122/KOB/2026 in CP(IB)/29/KOB/2022
CITATION : 2026 LLBiz NCLT(KOC) 767
The National Company Law Tribunal (NCLT), Kochi has held that an application filed in the names of multiple workmen cannot be maintained on behalf of those who did not authorise the sole signatory to represent them. “….in the absence of any specific authorisation, authority, or power of attorney in favour of the signatory, the other applicants would not be bound by any action taken by the signatory. Since they may rely on the acts done by the signatory, which would not be binding upon them, it would not be appropriate for this Adjudicating Authority to permit the signatory to continue with this IA on behalf of the other applicants.” the tribunal ruled
Merits Of Oppression Plea Not To Be Examined While Deciding Waiver Application: NCLT Mumbai
Case Title : Devaunshi Mehta nee Thackersey Versus Bhishma Realty Ltd. & Ors.
Case Number : IA (Companies Act) No. 62 (MB) 2026 In Company Petition No. 28 of 2026 CITATION : 2026 LLBiz NCLT (MUM) 769
The Mumbai National Company Law Tribunal (NCLT) has held that while considering an application seeking waiver of eligibility requirements under the proviso to Section 244(1) of the Companies Act, 2013 (which prescribes the minimum shareholding threshold to file oppression and mismanagement petitions), the Tribunal need not examine the merits of the proposed petition. A Bench comprising Technical Member Prabhat Kumar and Judicial Member Sushil Mahadeorao Kochey was hearing an application filed by Devaunshi Mehta, a shareholder holding approximately 4.65% of the paid-up share capital of Bhishma Realty Ltd., seeking waiver of the requirement to maintain a petition under Sections 241 and 242 of the Companies Act, 2013 (provisions dealing with oppression and mismanagement of a company's affairs).
Case Title : Mangaldas Finance Vs Milano Papers Private Limited
Case Number : C.P.(IB)/38(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 770
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has held that a money lender who advances funds only to help a corporate debtor clear an existing bank loan cannot, in the facts of the case, claim the status of a financial creditor under the Insolvency and Bankruptcy Code (IBC). It rejected a Section 7 insolvency plea filed by Gujarat-based Mangaldas Finance seeking initiation of the corporate insolvency resolution process against Milano Papers Pvt. Ltd.
Case Title : LIS STUDYLINK INDIA PVT. LTD.
Case Number : (IB)-467/ND/2025
CITATION : 2026 LLBiz NCLT(DEL) 771
The New Delhi National Company Law Tribunal (NCLT) on 15 July ordered the dissolution of Lis Studylink India Pvt. Ltd. under Section 59 of the Insolvency and Bankruptcy Code, 2016 (IBC), holding that the company's voluntary liquidation process had been completed and no liabilities remained unsatisfied.
NCLT Kochi Allows Second CIRP After Settlement Breach Where Settlement Preserved Creditor's Right
Case Title : Raychem RPG Pvt Ltd v. Soura Natural Energy Solutions India Pvt Ltd
Case Number : CP(IBC)/17/KOB/2026
CITATION : 2026 LLBiz NCLT(KOC) 773
The National Company Law Tribunal (NCLT) at Kochi has recently admitted an insolvency petition against Soura Natural Energy Solutions India Private Limited, holding that an operational creditor is entitled to initiate fresh insolvency proceedings upon breach of a settlement where the settlement itself expressly preserves such a right. A coram of Judicial Member Vinay Goel and Technical Member Ravichandran Ramasamy was considering a petition filed by Raychem RPG Private Limited seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Soura Natural Energy Solutions over an alleged operational debt of ₹4.22 crore arising from the supply of solar panels, solar inverters and other goods.
NCLT Ahmedabad Approves ₹2,775 Crore Inox Neo-Authum Resolution Plan For Wind World India
Case Title : Ravi Sethia Vs Consortium of Inox Neo Energies Limited (Lead Member) and Authum Investment and Infrastructure Limited
Case Number : IA(Plan)/10(AHM)2026 In CP{(IB) 14 of 2018
CITATION : 2026 LLBiz NCLT (AHM) 774
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has approved the ₹2,775 crore resolution plan submitted by the consortium of Inox Neo Energies Limited and Authum Investment & Infrastructure Limited for Wind World (India) Limited. It held that there was no ground to interfere with the commercial wisdom of the Committee of Creditors (CoC).
NCLT Delhi Approves Revised Resolution Plan For JNC Constructions After Supreme Court Remand
Case Title : PRABHJIT SINGH SONI Vs GAUTAM BUILDERS WITH RAPID CONTRACTS PVT. LTD
Case Number : I.A No. 42 (Plan) of 2024 in C.P. NO. IB- 272 (PB)/2019
CITATION : 2026 LLBiz NCLT(DEL) 776
The Delhi bench of the National Company Law Tribunal (NCLT) has approved the resubmitted resolution plan for JNC Constructions Pvt. Ltd., submitted by Gautam Builders in consortium with Rapid Contracts Pvt. Ltd. The approval comes after the Supreme Court set aside the tribunal's 2020 order and directed the Committee of Creditors (CoC) to reconsider the plan. A coram of Judicial Member Jyotsna Sharma and Technical Member Anu Jagmohan Singh observed that the tribunal's powers while considering a resolution plan are limited.
Suspended Directors Cannot Operate Company Bank Accounts After CIRP Admission: NCLT Amaravati
Case Title : Global Enterprise and Another vs. Suvarnabhoomi Infra Developers Pvt Ltd.
Case Number : IA(IBC)/155/2026, IA(IBC)/156/2026, IA(IBC)/142/2026, IA(IBC)/101/2026 in CP(IB)/57/7/AMR/2024
CITATION : 2026 LLBiz NCLT(AMR) 777
The National Company Law Tribunal (NCLT) at Amaravati has held that once a corporate debtor is admitted into the Corporate Insolvency Resolution Process (CIRP), its suspended management has no authority to operate the company's bank accounts or transfer its funds. A coram of Judicial Member Kishore Vemulapalli and Technical Member Umesh Kumar Shukla observed that any operation of the company's bank account or transfer of funds without the Interim Resolution Professional's (IRP) authorisation violates Sections 14 and 17 of the Insolvency and Bankruptcy Code, 2016.
NCLT Ahmedabad Dismisses Insolvency Plea Against Suzlon Energy
Case Title : Harri Wind Farms Vs Suzlon Energy Limited
Case Number : CP(IB)/318(AHM)2022
CITATION : 2026 LLBiz NCLT (AHM) 778
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) has recently rejected an insolvency plea against Suzlon Energy Limited. The plea was rejected after finding that the claim was time-barred and arose out of a pre-existing dispute. The petition was filed by Harri Wind Farms, which sought initiation of insolvency proceedings after claiming Rs 9.70 crore towards land procurement, No Objection Certificates (NOCs), and Power Evacuation (PE) connectivity for a proposed 25 MW wind power project in Tamil Nadu
Case Title : Punjab National Bank Vs TV Vision Limited
Case Number : C.P. (IB)/143(MB)2026
CITATION : 2026 LLBiz NCLT (MUM) 779
The Mumbai Bench of the National Company Law Tribunal (NCLT) on 30 July admitted Punjab National Bank's insolvency application against TV Vision Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016, after finding that the loan transaction qualified as a financial debt and that default was established through documentary evidence. A Bench comprising Judicial Member Nilesh Sharma and Technical Member Sameer Kakar noted that repeated one time settlement (OTS) proposals acknowledging outstanding dues extend the limitation period under Section 18 of the Limitation Act
Liquidator Not Entitled To Additional Remuneration For Litigation-Related Delay: NCLT Kochi
Case Title : CA Mahalingam Suresh Kumar v. Union Bank of India and Anr
Case Number : IA(IBC)/248/KOB/2025
CITATION : 2026 LLBiz NCLT (KOC) 780
The National Company Law Tribunal (NCLT) at Kochi has recently held that a liquidator cannot claim additional remuneration beyond the fee prescribed under the statutory framework merely because the liquidation process remained pending due to litigation. The tribunal accordingly dismissed an application filed by the liquidator of Raihan Healthcare Private Limited. A coram of Judicial Member Vinay Goel and Technical Member Ravichandran Ramasamy was hearing an application filed by the liquidator.
NCLT Ahmedabad Rejects Conart Engineers' Insolvency Plea Against Senores Over Pre Existing Dispute
Case Title : Conart Engineers Limited Vs Senores Pharmaceuticals Limited
Case Number : C.P.(IB)/107(AHM)2026 with IA/734(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 781
The Ahmedabad National Company Law Tribunal (NCLT) on 30 July held that an insolvency petition cannot be admitted when a pre existing dispute exists between parties over contractual claims, including certification of bills, recoveries and retention money. A Bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma dismissed Conart Engineers Limited's insolvency petition against Senores Pharmaceuticals Limited, holding that a dispute between the parties existed before the demand notice was issued. It also rejected an application alleging fraudulent initiation of insolvency proceedings.
Case Title : Manoj kumar Goyal and Anr. V. Dinesh Kehtan
Case Number : IA NO. 1258 OF 2025 IN C.P.(IB) NO. 572(PB)/2019
CITATION : 2026 LLBiz NCLT (DEL) 782
The National Company Law Tribunal (NCLT) at New Delhi has refused to recall a resolution plan approved more than four years ago. It ruled that its limited inherent power of recall under Rule 11 of the NCLT Rules cannot be used as a substitute for a time-barred appeal under the Insolvency and Bankruptcy Code (IBC) or to reopen the Committee of Creditors' (CoC) commercial wisdom. "The limited inherent power of recall preserved under Rule 11 of the NCLT Rules, 2016 cannot be invoked as a substitute for a time-barred appeal under Section 61 of the Code, nor to reopen the non-justiciable commercial wisdom of the CoC or to conduct a fact-intensive enquiry into fraud that is beyond the summary jurisdiction of this Tribunal," the tribunal observed.
Case Title : Rishi Gupta and Anr v. IDBI Trusteeship Services Limited and Ors
Case Number : I.A. 3699 ND 2024 IN C.P. IB 445 (ND) OF 2023
CITATION : 2026 LLBiz NCLT(DEL) 786
The New Delhi National Company Law Tribunal (NCLT) has held that protective covenants in financing documents, including escrow arrangements, reserved matter approvals, monitoring rights and inspection mechanisms, do not by themselves make financial creditors “related parties” under the Insolvency and Bankruptcy Code, 2016 (IBC), unless such rights demonstrate actual control over the management or affairs of the corporate debtor.
Case Title : N.S. COMPANY Vs SADBHAV ENGINEERING LIMITED
Case Number : C.P. (IB)/34(AHM)2024
CITATION : 2026 LLBiz NCLT (AHM) 784
The Ahmedabad National Company Law Tribunal (NCLT) on 29 July held that claims arising solely from a Memorandum of Settlement (MoU) or settlement agreement do not constitute “operational debt” under Section 5(21) of the Insolvency and Bankruptcy Code, 2016 (IBC), as such claims do not arise from the supply of goods or services. A Bench comprising Judicial Member Chitra Hankare and Technical Member Dr V.G. Venkata Chalapathy rejected the insolvency petition filed by N.S. Company against Corporate Debtor Sadbhav Engineering Limited, holding that the claim was based on the MoU entered between the parties and not on any operational debt.
NCLT Ahmedabad Makes Neesa Leisure Resolution Plan Effective, Ends IBC Moratorium
Case Title : Amit Jain RP of Neesa Leisure Limited
Case Number : IA/896(AHM)2026 in CP(IB) 127 of 2017
CITATION : 2026 LLBiz NCLT (AHM) 787
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has passed a consequential order approving the resolution plan for hospitality company Neesa Leisure Limited, which owns and operates hotels and resorts under the Cambay brand The tribunal ruled that the plan submitted by Express Resorts and Hotels Limited, already approved by the National Company Law Appellate Tribunal (NCLAT), would now take effect.
NCLT Delhi Dissolves Newgen Payment Gateway After Voluntary Liquidation
Case Title : NEWGEN PAYMENT GATEWAY PRIVATE LIMITED
Case Number : C.P. (IB)/780/ND/2024
CITATION : 2026 LLBiz NCLT(DEL) 785
The Delhi bench of the National Company Law Tribunal (NCLT) has ordered the dissolution of Newgen Payment Gateway Private Limited, a company that provided payment processing services for credit cards, debit cards and bill payments. The bench found that the company's voluntary liquidation had been completed and all liabilities had been settled. The order was passed by Judicial Member Justice Jyotsna Sharma and Technical Member Anu Jagmohan Singh.
NCLT Jaipur Clears ₹288.37 Crore Resolution Plan For Holiday Inn Jaipur City Centre Operator ACCIL
Case Title : Asset Reconstruction Company(India) Limited v. ACCIL Corporation Private Limited
Case Number : IA(IBC)(Plan) No. 06/JPR/2026
CITATION : 2026 LLBiz NCLT(JAI) 789
The National Company Law Tribunal at Jaipur has approved the ₹288.37 crore resolution plan submitted by Oriental Structural Engineers Private Limited (OSEPL) for ACCIL Corporation Private Limited, which owns and operates the five-star Holiday Inn Jaipur City Centre. The approved resolution plan has a total value of ₹288.37 crore and was unanimously approved by the Committee of Creditors. A coram of Judicial Member Reeta Kohli and Technical Member Kavita Bhatnagar passed the order.
NCLT Mumbai Rejects Electrical Panel Supplier's Insolvency Plea Against L&T
Case Title : GS INDUSTRIES vs LARSEN & TOUBRO LIMITED
Case Number : CP (IB) No. 3783/MB/2019
CITATION : 2026 LLBiz NCLT (MUM) 790
On August 4, the Mumbai Bench of the National Company Law Tribunal dismissed a Section 9 insolvency application filed by GS Industries against Larsen & Toubro Ltd. (L&T). The tribunal said that the dispute between the parties regarding the quality of electrical panels supplied constituted a pre-existing dispute, thereby barring initiation of the corporate insolvency resolution process (CIRP).
Fraud Proceedings Under IBC Cannot Be Turned Into 'Battlefield' For Private Disputes: NCLT Kochi
Case Title : Mohan Kumar and Anr v. K Parameswaran Nair and Ors
Case Number : IA(IBC)/35/KOB/2025
CITATION : 2026 LLBiz NCLT(KOC) 794
The National Company Law Tribunal (NCLT) at Kochi has recently observed that fraud proceedings under the Insolvency and Bankruptcy Code cannot be turned into a “battlefield” for settling private disputes or creating fresh controversies to prolong adjudication under the Code. The observation came in a case concerning Section 66 of the Insolvency and Bankruptcy Code, which deals with fraudulent trading and transactions, where Resolution Professional K. Parameswaran Nair had alleged fraudulent trading and transactions by Samson and Sons Builders and Developers Private Limited.
NCLT Ahemdabad Rejects Jindal SMI's Insolvency Plea Against Astron Packaging As Principal Dues Paid
Case Title : Jindal SMI Coated Products Limited Vs Astron Packaging Limited
Case Number : C.P. (IB)/168(AHM)2024
CITATION : 2026 LLBiz NCLT (AHM) 797
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has rejected an insolvency petition filed by Jindal SMI Coated Products Limited against Astron Packaging Limited, finding that Astron had paid ₹3.23 crore against principal dues of ₹2.97 crore. The court further observed that the amount remaining after treating the payment towards principal was below the statutory threshold under the Insolvency and Bankruptcy Code (IBC).
Case Title : IDBI Trusteeship Services Limited v. Ozone Projects Private Limited
Case Number : CP/IB/49/2023
CITATION : 2026 LLBiz NCLT(CHE) 800
The Chennai National Company Law Tribunal (NCLT) has held that a financial creditor can invoke Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) where the existence of financial debt and default is established, and that a pending appeal against the insolvency proceedings does not prevent the Tribunal from deciding the petition.
A Bench comprising Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam rejected Ozone Projects Private Limited's application under Section 65 of the IBC, which permits the Tribunal to act where insolvency proceedings have been initiated fraudulently or with malicious intent, and admitted the company into CIRP on a petition filed by IDBI Trusteeship Services Limited, acting as debenture trustee
NCLT Chennai Dissolves Ashok Leyland-John Deere JV After 8-Year Voluntary Liquidation
Case Title : Guntutu Subhasree
Case Number : CP(IBC)/367(CHE)/2025
CITATION : 2026 LLBiz NCLT(CHE) 801
The Chennai National Company Law Tribunal (NCLT) on 16 July ordered the dissolution of Ashok Leyland John Deere Construction Equipment Company Private Limited after finding that the company had completely wound up its affairs and liquidated all its assets.
A Bench comprising Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam passed the order under Section 59(7) of the Insolvency and Bankruptcy Code, 2016 (which empowers the Tribunal to order dissolution after completion of voluntary liquidation).
NCLT Jaipur Replaces RP In Dropbase Liquidation, Says CIRP Beyond 330 Days Is Serious Lapse
Case Title : Karvy Forde Search Pvt Ltd v. Dropbase Software Pvt Ltd
Case Number : IA(IBC) No. 505/ 2025
CITATION : 2026 LLBiz NCLT(JAI) 802
The Jaipur National Company Law Tribunal (NCLT) on 17 July ordered liquidation of Dropbase Software Private Limited and replacing Resolution Professional Rajneesh Sharma with Anubha Singh as the Liquidator, citing his failure to adhere to the CIRP timeline. A Bench of Judicial Member Reeta Kohli and Technical Member Kavita Bhatnagar held that continuing the Corporate Insolvency Resolution Process (CIRP) beyond the statutory period without following the prescribed procedure amounts to a “serious lapse in the professional conduct” of the Resolution Professional (RP).
Case Title : Anand Hariharan v. Mantri Technology Constellations Pvt Ltd
Case Number : CP(IB) No. 92/BB/2026
CITATION : 2026 LLBiz NCLT(CHE) 803
The National Company Law Tribunal (NCLT) at Bengaluru has held that a separate Corporate Insolvency Resolution Process (CIRP) cannot be initiated for a particular real estate project when the developer as a whole is already undergoing CIRP. The ruling came while dismissing a homebuyer's insolvency plea against Buoyant Technology Constellations Private Limited, who argued that his claim arose exclusively from the Mantri Manyata Energia project.
Ahmedabad NCLT Orders Liquidation Of Shriram Cements, Holds SRA Cannot Rewrite Approved Plan
Case Title : Monitoring Committee of Shriram Cement Ltd. Vs High Performance Products Industries Pvt. Ltd.
Case Number : IA/1039(AHM)2023 & IA/170(AHM)2024 In CP(IB) 195 of 2018
CITATION : 2026 LLBiz NCLT (AHM) 804
The Ahmedabad National Company Law Tribunal (NCLT) on 22 July ordered liquidation of Shriram Cements Limited after holding that the Successful Resolution Applicant (SRA) failed to implement the Resolution Plan approved under the Insolvency and Bankruptcy Code, 2016 (IBC), and could not make its obligations conditional on resolution of a pending land dispute or release of a Bank Guarantee. A Bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma held that the SRA had submitted the Resolution Plan with knowledge of the pending land dispute and the issues concerning the Corporate Debtor's property, and therefore could not subsequently avoid its binding obligations under the approved Plan.
Subsequent Liquidation Order Cannot Bar Plea Alleging Fraudulent CIRP: NCLT Allahabad
Case Title : SUDHANSHU CHAUDHARY & ORS Vs GLOBAL NEW ENERGIES & TECHNOLOGIES
Case Number : IA NO.190/2026 IN CP (IB) NO.89/ALD/2022
CITATION : 2026 LLBiz NCLT (ALL) 805
The Allahabad bench of the National Company Law Tribunal (NCLT) has held that a subsequent liquidation order cannot bar adjudication of allegations that an insolvency process was initiated fraudulently or with malicious intent. The bench of Judicial Member Praveen Gupta and Technical Member Ashish Verma observed, “...the allegations under Section 65 were raised during the subsistence of the CIRP itself; they formed the basis of proceedings initiated by the erstwhile RP; and they remained unresolved at the time when liquidation came to be ordered. In such circumstances, the subsequent liquidation of the Corporate Debtor cannot operate as a bar to the adjudication of the present application.”
NCLT Delhi Rejects Insolvency Plea Over Claims Based On Unilateral Invoice Payment Terms
Case Title : Kannodia Technoplast Ltd. Vs Kay Pee Khaini Pvt. Ltd.
Case Number : CP (IB)-612/ND/2025
CITATION : 2026 LLBiz NCLT(DEL) 806
The Delhi bench of the National Company Law Tribunal (NCLT) has rejected Kannodia Technoplast Ltd.'s insolvency petition against Kay Pee Khaini Pvt. Ltd. It held that payment terms unilaterally mentioned in invoices cannot establish default when there is no bilateral contract between the parties. The order was passed by a bench comprising Judicial Member Ashok Kumar Bhardwaj and Technical Member Banwari Lal Meena.
NCLT Ahmedabad Directs Zyngo EV Mobility To Hand Over 16 Leased EVs To Gensol EV Lease
Case Title : Keshav Khaneja RP of Gensol EV Lease Limited Vs Rajiv Khurana RP of Zyngo EV Mobility Pvt. Ltd. & ors
Case Number : IA/622(AHM)2026 in C.P.(IB)/[199(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 807
The Ahmedabad National Company Law Tribunal (NCLT) on 27 July, partly allowed an application filed by the RP of Gensol EV Lease Ltd. and directed Zyngo EV Mobility Pvt. Ltd. to hand over 16 leased electric vehicles (EVs), along with their documents, keys and accessories. A Bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma held that a Resolution Professional (RP) can seek recovery of leased assets lying with a third party during the Corporate Insolvency Resolution Process (CIRP), while disputes over damages, vehicle condition, lease rentals and CIRP costs must be decided separately by the appropriate forum.
Case Title : Harsh Vardhan Krishnatray & Ors Vs Vatika One On One Private Limited
Case Number : CP IB NO. 29/(ND)/2026
CITATION : 2026 LLBiz NCLT(DEL) 808
The New Delhi National Company Law Tribunal (NCLT) on 23 July held that claims for assured returns and lease rentals under Builder Buyer Agreements do not qualify as “operational debt” under the Insolvency and Bankruptcy Code, 2016 (IBC), and that individual claims must meet the statutory threshold of Rs. 1 crore under Section 4 of the Code. A Bench of Judicial Member Manni Sankariah Shanmuga Sundaram and Technical Member Reena Sinha Puri dismissed an insolvency petition filed against Vatika One On One Pvt. Ltd., holding that the claims arose from real estate investment agreements and did not fall within the statutory definition of operational debt.
Case Title : Sane Guruji Premises Co-operative Society Limited vs ARCK Resolution Professional LLP
Case Number : IA (I.B.C)/2372(MB)2026 IN CP (IB) No. 1053/(MB)/2017
CITATION : 2026 LLBiz NCLT (MUM) 809
The National Company Law Tribunal (NCLT) at Mumbai has recently held that an explanation inserted into the Insolvency and Bankruptcy Code (IBC), excluding security interests created merely by operation of law from the definition of “security interest," will operate prospectively from May 26, 2026. A bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar observed that the amendment introduces a substantive restriction on the earlier definition. It cannot retrospectively nullify security interests already created by operation of law.
Later Default After Repayment Extension Cannot Revive COVID-Period Insolvency Claim: NCLT Mumbai
Case Title : Shaanxi Baoguang Import And Export Company Limited Vs Stelmec Limited
Case Number : IA(IBC)2690/(MB)2026
CITATION : 2026 LLBiz NCLT (MUM) 810
The National Company Law Tribunal (NCLT) at Mumbai has recently held that a creditor cannot rely on a later failure to repay after giving a company extra time when the original default occurred during the COVID-19 period. A bench of Judicial Member Nilesh Sharma and Technical Member Sameer Kakar ruled that extending the repayment period does not erase or extinguish the original default.
NCLT Launches E-Inspection, E-Certified Copy Services
The National Company Law Tribunal (NCLT) has launched e-Inspection and e-Certified Copy Services to provide advocates, litigants, and other stakeholders with faster and more convenient access to judicial records and certified copies. NCLT President Justice Anupinder Singh Grewal inaugurated the services through video conferencing on Wednesday. The services are part of the tribunal's broader digital transformation, which includes its revamped website and the ongoing e-Courts 2.0 initiative.
Case Title : Bharati Trading Enterprises Pvt. Ltd Vs Tecso Project Limited
Case Number : C.P.(IB)/I155(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 811
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has dismissed Bharati Trading Enterprises Pvt. Ltd.'s insolvency petition against Vadodara-based Tecso Project Ltd. over an alleged ₹18.91 crore operational debt. The tribunal found a plausible pre-existing dispute over contractual interest, computation of the principal amount, ledger entries and supporting documents. Judicial Member Shammi Khan and Technical Member Sanjeev Sharma also imposed a ₹2 lakh penalty on Bharati Trading under for misusing the insolvency process to recover debt.
NCLT Ahmedabad Dismisses Ricova International's Insolvency Plea Against Kraft Paper Manufacturer
Case Title : Ricova International Inc. Vs Shree Narayan Kraft Paper Mill LLP
Case Number : C.P.(IB)I159(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 812
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has dismissed an insolvency petition filed by Panama-based Ricova International INC against Shree Narayan Kraft Paper Mill LLP.
The bench comprising Judicial Member Shammi Khan and Technical Member Sanjeev Sharma found that there was pre-existing dispute between the parties. Ricova had claimed an operational debt of Rs 3,81,87,186.24 (USD 4,44,192.34) for the alleged supply of waste paper (NDLKC) pursuant to various indents placed between October 2024 and January 2025. The claimed date of default was April 13, 2025.
Case Title : Vitol SA Vs Abhishek Nagori
Case Number : IA/371(MP)2023 in TP 161 of 2019 [CP(IB) 19 of 2017]
CITATION : 2026 LLBiz NCLT (IND) 813
The National Company Law Tribunal (NCLT) at Indore has ruled that a mere divergence between a forensic auditor's interim and final reports, without any demonstrable infirmity, is not enough to disregard the final report or appoint an alternate auditor. The bench of Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta ruled, “Mere divergence between a preliminary draft and a final report, explained by a materially expanded record, does not by itself establish unreliability.”
Defective Or Withdrawn Liquidation Application Cannot End RP's Entitlement To Fees: NCLT Ahmedabad
Case Title : Sachin Naveen Sinha Vs Arvind D Gaudana
Case Number : IA/1097(AHM)2025 In C.P.(IB)/119{AHM)2022
CITATION : 2026 LLBiz NCLT (AHM) 815
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has recently held that a liquidation application that is subsequently withdrawn cannot by itself end a Resolution Professional's entitlement to remuneration if the RP continues to discharge statutory duties. The bench said a defective or withdrawn liquidation application that does not culminate in an order of liquidation cannot terminate the RP's entitlement to remuneration when he continues to function under the Insolvency and Bankruptcy Code, 2016.
Case Title : Mahananda Udhavrao Deshkhaire
Case Number : C.P.(IB) NO. 381(MB)/2024
CITATION : 2026 LLBiz NCLT(MUM) 817
The National Company Law Tribunal (NCLT), Mumbai Bench, has recently issued a bailable warrant of arrest against a personal guarantor for failing to appear before the tribunal despite clear directions to explain why the Resolution Professional's fees had not been paid.
The order was passed by Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar in personal insolvency proceedings against Mahananda Udhavrao Deshkhaire under Section 94(1) of the Insolvency and Bankruptcy Code, 2016.
Case Title : Nirmal Ujjwal Credit Co-operative Society Ltd v. Indian Bank and Ors.
Case Number : IA. 2396 of 2026 in C.P.(IB) NO. 1318(MB)/2022
CITATION : 2026 LLBiz NCLT(MUM) 818
The National Company Law Tribunal (NCLT), Mumbai Bench-I has directed the return of a ₹5 crore Earnest Money Deposit (EMD) Bank Guarantee furnished by Nirmal Ujjwal Credit Co-operative Society Limited during the Corporate Insolvency Resolution Process (CIRP) of Morarjee Textiles Limited. The court held that the guarantee could not be forfeited under the Request for Resolution Plan (RFRP) without any misrepresentation or misleading statement about the society's eligibility.
SARFAESI Notice Alone Cannot Establish Personal Guarantee Invocation Without Deed: NCLT Chandigarh
Case Title : Vijay Singh
Case Number : CP(IB)No.133/Chd/Hry/2026
CITATION : 2026 LLBiz NCLT(CHA) 819
The National Company Law Tribunal (NCLT), Chandigarh bench, has ruled that a personal guarantor seeking insolvency resolution must place the underlying Deed of Guarantee on record to establish that status. A SARFAESI demand notice by itself cannot conclusively establish invocation of the guarantee when the deed is absent.
Suspended Director Status Alone Cannot Justify Harsher Standard For His Resolution Plan: NCLT Kochi
Case Title : Mr. N.K Kurian v. Mr. K. Easwara Pillai and Anr Case Number : IA(IBC)/284/KOB/2026 CITATION : 2026 LLBiz NCLT(KOC) 822
The National Company Law Tribunal (NCLT), Kochi, has recently ruled that a Resolution Plan cannot be subjected to a more onerous standard merely because it has been submitted by a suspended director.
Bank's Internal Policies Cannot Override IBC Or RP Appointment Order: NCLT Guwahati
Case Title : Indian Bank v. Sudha Sarma
Case Number : IA(IBC)/55/GB/2026
CITATION : 2026 LLBiz NCLT(BEN) 823
The Guwahati National Company Law Tribunal (NCLT) on 24 July held that a bank's internal policies cannot override the statutory scheme of the Insolvency and Bankruptcy Code, 2016 (IBC) or the Tribunal's order appointing a Resolution Professional (RP).
SARFAESI Proceedings, ED Provisional Attachment Do Not Bar CIRP: NCLT Ahmedabad
Case Title : CFM Asset Reconstruction Private Limited Vs Capbridge Venture LLP
Case Number : C.P.(IB)/225(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 824
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has held that ongoing SARFAESI proceedings and provisional attachment of a secured property by the Directorate of Enforcement do not bar initiation of the Corporate Insolvency Resolution Process (CIRP) against Capbridge Venture LLP. “The contention that proceedings under the SARFAESI Act, 2002 bar the present Petition is untenable. The remedies available under the SARFAESI Act and the Insolvency and Bankruptcy Code operate in different fields, and initiation of statutory recovery measures does not preclude proceedings under Section 7 of the Code,” the tribunal observed.
NCLT Guwahati Admits IL&FS Insolvency Plea, Holds Pledged Shares Dispute No Defence To Default
Case Title : IL&FS Financial Services Limited v Adhunik Meghalaya Steels Private Limited
Case Number : CP(IB)/2/GB/2024
CITATION : 2026 LLBiz NCLT(GUA) 828
The Guwahati National Company Law Tribunal (NCLT) has held that a dispute over the invocation and appropriation of pledged securities cannot defeat an insolvency petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, once the existence of financial debt and default is established. A Bench of Judicial Member Rammurti Kushawaha and Technical Member Yogendra Kumar Singh made the observation while admitting an insolvency petition filed by IL&FS Financial Services Limited against Adhunik Meghalaya Steels Private Limited.
Case Title : Pen India Private Limited Vs. Reliance Entertainment Studios Private Limited
Case Number : C.P. (IB)/1063/MB/2025
CITATION : 2026 LLBiz NCLT (MUM) 829
The Mumbai National Company Law Tribunal (NCLT) on 19 August held that an amount advanced under a Security Deposit Agreement can constitute a financial debt under Section 5(8) of the Insolvency and Bankruptcy Code, 2016 (IBC).
Case Title : Aviator ML 29641, Limited Vs Spicejet Limited
Case Number : IB-674/ND/2024
CITATION : 2026 LLBiz NCLT(DEL) 831
The National Company Law Tribunal (NCLT), New Delhi, on 19 August allowed Aviator ML 29641 to withdraw its insolvency petition against SpiceJet Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, but imposed costs of Rs. 15 lakh on both parties for seeking withdrawal after the matter had been reserved for orders.
NCLT Chandigarh Sets Aside Canara Bank's SARFAESI Sale Of Mohan Rail Components' Assets
Case Title : Jaspal Singh & Ors Vs Canara Bank & Ors
Case Number : IA(I.B.C)/438(CH)2026 IN CP(IB)No.23/Chd/Pb/2023
CITATION : 2026 LLBiz NCLT(CHA) 832
The Chandigarh Bench of the National Company Law Tribunal (NCLT) has allowed applications filed by Jaspal Singh and Narinder Kaur, suspended directors and personal guarantors of Mohan Rail Components, and set aside the sale certificate issued by Canara Bank in respect of the company's core assets on 1 January 2026.
NCLT Indore Dismisses Union Bank's Plea To Include Four Belated EOIs In JSM Devcons CIRP
Case Title : Union Bank of India Vs Chaya Gupta RP of JSM Devcons India Pvt Ltd
Case Number : IA/580(MP)2025 in TP 230 of 2019 [CP(IB) 192 of 2017
CITATION : 2026 LLBiz NCLT (IND) 833
The Indore National Company Law Tribunal (NCLT) dismissed Union Bank of India's plea seeking inclusion of four belated EOIs in the Corporate Insolvency Resolution Process (CIRP) of JSM Devcons India Pvt. Ltd.
Case Title : Pradeep Kumar Goyal v. Mohit Chawla and Anr.
Case Number : I.A. (I.B.C) 924 (CH)2025 in CP (IB) No. 248/Chd/Chd/2019
CITATION : 2026 LLBiz NCLT (CHA) 836
The Chandigarh Bench of the National Company Law Tribunal (NCLT) has held that merely being classified as an “Other Creditor” does not confer on such creditor an unrestricted right to challenge a resolution plan, particularly where the challenge does not arise from the creditor's own admitted claim or any legally enforceable right under the Insolvency and Bankruptcy Code (IBC
Case Title : Tanay Securities & Sevices Pvt Ltd V/s Organic World Pvt Ltd
Case Number : CP(IB)/60(MP)2024
CITATION : 2026 LLBiz NCLT (IND) 837
The Indore Bench of the National Company Law Tribunal (NCLT) on 3 August admitted a Section 7 application under the Insolvency and Bankruptcy Code, 2016 (IBC) against Organic World Private Limited over a default of approximately Rs. 2.24 crore
NCLT Chennai Admits Gangotri Textiles' CIRP Plea, Holds Pending DRT Proceedings No Bar
Case Title : Gangotri Textiles Limited
Case Number : CP(IBC)/310(CHE)/2025
CITATION : 2026 LLBiz NCLT(CHE) 834
The National Company Law Tribunal (NCLT) at Chennai on 7 August admitted Gangotri Textiles Limited's application under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC), thereby initiating Corporate Insolvency Resolution Process (CIRP) against it.
NCLT Bengaluru Dissolves Infotech HAL After Completion Of Liquidation Process
Case Title : Infotech HAL Limited v. Infotech HAL Limited
Case Number : CP(IB) No. 99/BB/2024
CITATION : 2026 LLBiz NCLT (BEN) 835
On 17 August, the National Company Law Tribunal (NCLT) at Bengaluru ordered the dissolution of Infotech HAL Limited after finding that its affairs had been completely wound up and all its realisable assets had been dealt with in accordance with the Insolvency and Bankruptcy Code, 2016 (IBC).
Debenture Holders Retain Right To Initiate Insolvency Despite Trustee Appointment: NCLT Bengaluru
Case Title : India Housing Fund and Anr v. Gulam Mustafa Enterprises Private Limited
Case Number : CP(IB) No. 90/BB/2025
CITATION : 2026 LLBiz NCLT(BEN) 842
The National Company Law Tribunal (NCLT), Bengaluru has held that the appointment of a Debenture Trustee to represent debenture holders does not take away their independent statutory right as Financial Creditors to initiate insolvency proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC).
NCLT Indore Holds IBC Cannot Be Used To Settle Family Disputes, Rejects ₹4.21 Crore Section 7 Plea
Case Title : Prakash Chuhardas Khatri V/s Indore Glass House Pvt Ltd
Case Number : CP(IB)/61(MP)2025
CITATION : 2026 LLBiz NCLT(IND) 843
The Indore Bench of National Company Law Tribunal (NCLT) has held that a Section 7 application under the Insolvency and Bankruptcy Code (IBC) cannot be used to recover disputed amounts or settle an ongoing family dispute where the applicant fails to establish the existence of a financial debt and default.
Belated Homebuyer Claims Cannot Reopen Approved Resolution Plan: NCLT Indore
Case Title : Nishkarsh Kumar v. Chahya Gupta& Ors.
Case Number : IA /298/MP/2026 in Company Petition IB/74/94/HDB/2024
CITATION : 2026 LLBiz NCLT(IND) 844
The Indore Bench of the National Company Law Tribunal (NCLT) has held that a homebuyer's claim cannot be recognised after approval and implementation of a Resolution Plan, as entertaining such a belated claim would undermine the finality of the approved plan.
NCLT Delhi Approves Zee Founder Subhash Chandra's ₹6.5 Cr. Repayment Plan Against ₹22,006 Cr. Claims
Case Title : Indiabulls Housing Finance Limited Vs Dr. Subhash Chandra
Case Number : Company Petition No. (IB) - 97(ND)/2022
CITATION : 2026 LLBiz NCLT(DEL) 845
The National Company Law Tribunal (NCLT), New Delhi, on 25 August approved the repayment plan of Dr. Subhash Chandra, chairman of the Essel Group and founder of Zee TV, under Section 114 of the Insolvency and Bankruptcy Code, 2016 (IBC), subject to the exclusion of two unsupported claims.
NCLT Ahmedabad Admits Kalahridhaan Trendz Into CIRP Over ₹3.26 Crore Default
Case Title : Kushal Finnovatio Capital Pvt Ltd Vs Kalahridhaan Trendz Limited
Case Number : C.P.(IB)/16(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 841
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 14 August admitted Kushal Finnovation Capital Pvt. Ltd.'s insolvency petition against Kalahridhaan Trendz Limited over a default of more than Rs. 3.26 crore under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). Judicial Member Chitra Hankare and Technical Member Dr VG Venakata Chalapathy held that insolvency proceedings can be initiated where a financial debt is due and payable, the default exceeds the threshold prescribed under the IBC, and the petition is filed within limitation.
NCLT New Delhi Orders Liquidation Of Dalmia Life Care After CoC Gets 72.19% Vote
Case Title : RABINDRA KUMAR MINTRI
Case Number : IA (Liq.) 36/ND/2025 IN CP IB NO. 93/ND/2024
CITATION : 2026 LLBiz NCLT(DEL) 840
The New Delhi Bench of the National Company Law Tribunal (NCLT) on 19 August ordered the liquidation of Dalmia Life Care Private Limited under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, following a resolution passed by its Committee of Creditors (CoC) with 72.19% voting share.
NCLT Chennai Rejects Jyoti Ltd's Insolvency Plea Against Marg Ltd Over Pre-Existing Dispute
Case Title : Jyoti Limited v. Marg Limited
Case Number : CP/IB/262/CHE/2022
CITATION : 2026 LLBiz NCLT(CHE) 846
The National Company Law Tribunal (NCLT) at Chennai on 7 August dismissed an insolvency application filed by Jyoti Limited against Marg Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), over an operational debt of Rs. 22.67 crore. A Bench comprising Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy held that Marg had raised a genuine pre-existing dispute regarding its liability, which had continued through the arbitral proceedings and subsequent challenge to the award.
Suspended Directors Cannot Pursue 'Proxy Grievances' On Behalf Of Homebuyers: NCLT Chandigarh
Case Title : Vinod Bagai and Anr v. Rahul Jindal and Ors.
Case Number : I.A. No.1064 of 2025 In CP(IB) No. 98/Chd/Hry/2022 (Admitted)
CITATION : 2026 LLBiz NCLT(CHA) 848
The National Company Law Tribunal (NCLT), Chandigarh, on 13 August held that suspended directors cannot challenge a Corporate Insolvency Resolution Process (CIRP) or a Resolution Plan by raising grievances on behalf of a class of creditors to which they do not belong. A Bench comprising Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal rejected a challenge by the promoters, shareholders and suspended directors of Samar Estates Private Limited against the CIRP and the Resolution Plan approved by the Committee of Creditors (CoC).