SUPREME COURT
Case Title : POOJA RAMESH SINGH Versus JAMMU AND KASHMIR BANK LTD AND ANR.
Case Number : C.A. No. 11950/2025
Comparing fake AI-generated legal material to the release of methyl isocyanate (the gas behind the Bhopal gas tragedy), the Supreme Court on Thursday warned that artificial intelligence could become "invisible, insidious, catastrophic" if used without safeguards.
The court set aside insolvency orders against Essel Infraprojects Ltd after finding that the National Company Law Tribunal and the National Company Law Appellate Tribunal had relied on non-existent, hallucinated case law.
Case Title : H.D.F.C. BANK LIMITED VERSUS KISHORE K. MEHTA (DEAD) THR. LRS.
Case Number : CIVIL APPEAL NO. 4211 OF 2010
CITATION : 2026 LLBiz SC 234
The Supreme Court on Monday held that a recovery certificate issued by a Debt Recovery Tribunal (DRT) before the 2016 amendment to the Recovery of Debts and Bankruptcy Act cannot be treated as a decree or order for initiating insolvency proceedings under the Bombay's Presidency Towns Insolvency Act, 1909. Dismissing HDFC Bank's appeal, the court observed that Parliament recognised such equivalence only through the 2016 amendment.
Case Title : M/s Tata Steel Ltd v. Varsha and Anr
Case Number : Civil Appeal Nos. 9052-9053 of 2026
CITATION : 2026 LLBiz SC 242
The Supreme Court on Friday observed that small operational creditors, including MSMEs and statutory local bodies, remain "significantly disenfranchised" under the Insolvency and Bankruptcy Code (IBC) by being placed at the bottom of the repayment waterfall. Observing that the issue falls within the legislative domain, the court urged the Law Commission of India and the legislature to examine whether a fairer repayment mechanism could be devised without compromising the efficiency and commercial certainty of the insolvency resolution process.
Case Title : VENUGOPAL DHOOT vs VOVL LIMITED
Case Number : C.A. 8718/2026
The Supreme Court on Tuesday issued notice in an appeal filed by Videocon Group founder Venugopal Dhoot. The appeal challenges the National Company Law Appellate Tribunal's (NCLAT) May 14, 2026, decision refusing to include the foreign oil and gas assets of Videocon Oil Venture Ltd. (VOVL) and its overseas subsidiaries in the corporate insolvency resolution process (CIRP) of Videocon Industries Ltd.
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.
HIGH COURT
Case Title : Uttamchand Devichand Shah AND The official assignee, High Court, Bombay.
Case Number : OFFICIAL ASSIGNEE REPORT NO. 46 OF 2025 IN INSOLVENCY PETITION NO. 28 OF 2001
CITATION : 2026 LLBiz HC (BOM) 369
The Bombay High Court on Thursday held that a creditor does not need to obtain a decree before lodging a claim with the Official Assignee after a debtor is declared insolvent under the Presidency Towns Insolvency Act, 1909.
Case Title : Sri Vineet Mohan Gupta & Anr. Vs. Canara Bank & Ors.
Case Number : AD-COM 2 OF 2026 With IA No.: CAN 1 of 2026
CITATION : 2026 LLBiz HC (CAL) 166
The Calcutta High Court has recently held that a civil suit filed before insolvency proceedings are initiated cannot be dismissed merely because proceedings under the Insolvency and Bankruptcy Code (IBC) begin later.
Case Title : Ambootia Tea Exports Private Limited & Ors. Vs. Sri Rani Sati Abasan Private Limited
Case Number : AD COM 3 of 2026
CITATION : 2026 LLBiz HC (CAL) 167
The Calcutta High Court has held that a court cannot entertain a suit instituted during the operation of an interim moratorium under the Insolvency and Bankruptcy Code where the statutory bar applies. It ruled that once the embargo is brought to the court's notice, the court must act in accordance with the law. Where the statutory conditions are met, the plaint must be rejected. A division bench of Justice Debangsu Basak and Justice Md. Shabbar Rashidi set aside a February 5, 2026 judgment of a Single Judge. The Single Judge had rejected an application by Ambootia Tea Exports Pvt. Ltd. (corporate debtor) and its directors seeking rejection of the plaint. It had instead decreed Sri Rani Sati Abasan Pvt. Ltd.'s (the lender) money recovery suit on admission.
Article 227 Cannot Be Used To Bypass NCLAT Remedy Against NCLT Orders: Kerala High Court
Case Title : The Erattupetta Municipality v. The National Company Law Tribunal and Anr
Case Number : OP(C) No. 2718 of 2023
CITATION : 2026 LLBiz HC(KER) 132
The Kerala High Court on 14 July held that parties cannot invoke the High Court's supervisory jurisdiction under Article 227 of the Constitution to challenge orders passed by the National Company Law Tribunal (NCLT) when the Insolvency and Bankruptcy Code, 2016 provides an effective statutory appellate remedy before the National Company Law Appellate Tribunal (NCLAT).
IBBI Chairperson Cannot Act As Disciplinary Committee Under IBC: Calcutta High Court
Case Title : Sashi Agarwal v. Union of India and Ors
Case Number : WPA 10330 of 2022
Citation: 2026 LLBiz HC(CAL) 176
The Calcutta High Court on 16 July held that the Chairperson of the Insolvency and Bankruptcy Board of India (IBBI) cannot act as the Disciplinary Committee under the Insolvency and Bankruptcy Code (IBC), as the Committee can consist only of Whole-Time Members of the IBBI. Justice Shampa Sarkar allowed the petition filed by Sashi Agarwal, an Insolvency Professional, and set aside the IBBI order cancelling his registration under Section 220(2) of the IBC, which empowers the Disciplinary Committee to pass orders after considering a report of investigation.
Case Title : Rajaram Food Products India Limited Vs The Joint District Registrar (Class-1) and Collector of Stamps, Nashik and others
Case Number : WRIT PETITION NO. 3018 OF 2026
CITATION : 2026 LLBiz HC(BOM) 404
The Bombay High Court has held that a liquidator conducting a public auction under the Insolvency and Bankruptcy Code (IBC) qualifies as an officer under the Registration Act. Therefore, a sale certificate issued during such an auction is exempt from compulsory registration and stamp duty. The exemption continues so long as only a copy of the sale certificate is filed with the registering authority. Stamp duty becomes payable only if the purchaser later seeks to use the sale certificate for any other purpose.
IBC Moratorium Won't Extinguish Directors' Criminal Liability For Cheque Bounce: Punjab & Haryana HC
Case Title : Ajay Gupta and another Vs Can Bank Factors Limited
Case Number : CRM-M-45498-2019 (O&M)
CITATION : 2026 LLBiz HC(PNH) 36
The Punjab and Haryana High Court on 20 July held that the moratorium under the Insolvency and Bankruptcy Code, 2016 (IBC) cannot extinguish a director's criminal liability for dishonour of cheques issued before commencement of insolvency proceedings against the company. Justice Manisha Batra dismissed a petition filed by Ajay Gupta seeking quashing of proceedings under Section 138 of the Negotiable Instruments Act, 1881 (NI Act) for cheque dishonour, holding that subsequent insolvency and liquidation proceedings of the company cannot shield directors from criminal prosecution for offences already committed.
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.
NCLAT
Jet Airways Workmen's PF, Gratuity Dues Must Be Paid, Fall Outside Liquidation Estate: NCLAT
Case Title : State Bank of India and Ors Vs Manoj Kumar Das & Ors
Case Number : Company Appeal (AT) (Insolvency) 419/2026 & 420/2026, 551/2026, 440/2026
CITATION : 2026 LLBiz NCLAT 260
The National Company Law Appellate Tribunal (NCLAT) at Delhi has held that provident fund, gratuity and pension dues owed to Jet Airways workmen must be paid as they fall outside the liquidation estate, even if no segregated funds existed on the liquidation commencement date.
IBC Not 'Holy Ganges' To Wash Corporate Debtor's Criminality Under PMLA: NCLAT
Case Title : Value Wise Consultancy Private Limited Vs The Deputy Director ED & Ors
Case Number : Company Appeal (AT) (Insolvency) 1226/2022 & 1227/2022
CITATION : 2026 LLBiz NCLAT 261
The National Company Law Appellate Tribunal (NCLAT) at Delhi on Tuesday held that the moratorium under the Insolvency and Bankruptcy Code (IBC) does not prevent the Enforcement Directorate (ED) from attaching assets alleged to be proceeds of crime under the Prevention of Money Laundering Act (PMLA).
Case Title : Assets Care & Reconstruction Enterprise Limited Vs Viswanadha Sarma & Ors
Case Number : Company Appeal (AT) (Insolvency) 949/2023, 1117/2023 & 1231/2023
CITATION : 2026 LLBiz NCLAT 262
Case Title : VINOD ANAND Vs GOLDEN ROLLS PRIVATE LIMITED
Case Number : Company Appeal (AT) (Insolvency) 1048/2026
CITATION : 2026 LLBiz NCLAT 264
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently held that a party cannot be prevented from filing an additional affidavit in proceedings that are yet to be decided on merits. It observed that such a restriction would create an "artificial procedural obstacle" and handicap a litigant in presenting its case.
NCLAT Upholds Insolvency Against Butter, Ghee Maker Jhandewalas Foods
Case Title : MR. RAAKESH B KULWAL, Vs PARAM DAIRY LIMITED
Case Number : Company Appeal (AT) (Insolvency) 1013/2025
CITATION : 2026 LLBiz NCLAT 265
The National Company Law Appellate Tribunal (NCLAT) has recently upheld the initiation of corporate insolvency proceedings against butter and ghee manufacturer and trader Jhandewalas Foods Limited. It held that the company's defence of a pre-existing dispute over unpaid dues was not supported by credible evidence and could not prevent the insolvency process. A bench of Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra observed, “In our considered view, we have no good grounds to disagree with the Adjudicating Authority that the alleged disputes claimed by the Corporate Debtor are feeble disputes not supported by credible evidence. In sum, no real pre-existing dispute is discernible.”
NCLAT Quashes Insolvency Admission Against Vikram Solar As Debt Falls Below ₹1 Crore
Case Title : Sameer Nagpal Suspended Director of Vikram Solar Ltd. Vs ISITVA Steel Pvt. Ltd. & Anr
Case Number : Company Appeal (AT) (Insolvency) 1087/2026
CITATION : 2026 LLBiz NCLAT 266
On Monday, the National Company Law Appellate Tribunal (NCLAT) set aside the admission of a Section 9 insolvency petition against Vikram Solar after both sides admitted that the debt was below the ₹1 crore threshold prescribed under the Insolvency and Bankruptcy Code (IBC).
Foreign Companies Need RBI Approval To Acquire Security Interest In Indian Immovable Property: NCLAT
Case Title : Tropical Ventures Company Ltd. Vs INCAB Industries Ltd
Case Number : Company Appeal (AT) (Insolvency) 662/2025, 16/2026 & 192/2026
CITATION : 2026 LLBiz NCLAT 268
The National Company Law Appellate Tribunal (NCLAT) at Delhi has held that a foreign company cannot acquire or be assigned a security interest over immovable property in India without the Reserve Bank of India's permission.
NCLT Cannot Sit In Appeal Over Civil Court Consent Decree In Insolvency Proceedings: NCLAT
Case Title : AKJ METALS PRIVATE LIMITED Vs BRIJESH SINGH BHADAURIYA & Ors
Case Number : Company Appeal (AT) (Insolvency) 1606/2025 & 1607/2025
CITATION : 2026 LLBiz NCLAT 269
The National Company Law Appellate Tribunal (NCLAT) at Delhi has held that the National Company Law Tribunal (NCLT) cannot disregard or invalidate a consent decree passed by a competent civil court during insolvency proceedings.
Resolution Professional's Report Is Recommendatory In Personal Guarantor Insolvency Cases: NCLAT
Case Title : DR. BADRI PRASAD Vs TATA CAPITAL FINANCIAL SERVICES LIMITED & RAJESH RAMANI "
Case Number : Company Appeal (AT) (Insolvency) 401/2024
CITATION : 2026 LLBiz NCLAT 270
The National Company Law Appellate Tribunal (NCLAT) in Chennai has held that a Resolution Professional's report in personal insolvency cases is only recommendatory and does not bind the adjudicating authority. It ruled that where debt, default, and the status of the personal guarantor are already established, the absence of such a report does not invalidate the proceedings.
Case Title : PROGFIN PRIVATE LIMITED Vs GANESH BENZOPLAST LIMITED
Case Number : Company Appeal (AT) (Insolvency) 1565/2025
CITATION : 2026 LLBiz NCLAT 271
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 30 June held that the mere disbursal of loan funds into a fraudulent bank account does not, by itself, create a binding financial debt under the Insolvency and Bankruptcy Code, 2016.
Interim Stay Of CIRP Admission Does Not Extinguish Moratorium Unless Specifically Vacated: NCLAT
Case Title : ABHISHEK SINGH Vs RAJARAM FOODS PRODUCTS INDIA LTD & MANPASAND BEVERAGES LTD
Case Number : Company Appeal (AT) (Insolvency) 1883/2025 & 105/2026
CITATION : 2026 LLBiz NCLAT 273
The National Company Law Appellate Tribunal (NCLAT) in Delhi has recently held that an interim stay of an order admitting a company into the Corporate Insolvency Resolution Process (CIRP) does not extinguish the accompanying moratorium.
Property Over Which Corporate Debtor Has No Subsisting Right Cannot Form Part Of Its CIRP: NCLAT
Case Title : Calcutta Pinjrapole Society Vs Pratap Mukherjee & Ors
Case Number : Company Appeal (AT) (Insolvency) 474/2026
CITATION : 2026 LLBiz NCLAT 272
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently held that a corporate debtor cannot include in its Corporate Insolvency Resolution Process (CIRP) an immovable property over which it has no subsisting legal right
Case Title : GAURAV BHALLA Vs BEACON TRUSTEESHIP LIMITED
Case Number : Company Appeal (AT) (Insolvency) 694/2026
CITATION : 2026 LLBiz NCLAT 274
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 30 June held that a debenture trustee, acting under a debenture trust deed and personal guarantee, can initiate insolvency proceedings against a personal guarantor under Section 95 of the Insolvency and Bankruptcy Code, 2016, and that clerical defects in guarantee documents do not defeat such proceedings where liability is otherwise established.
Case Title : Uniworth Enterprises LLP v. Starco Metaplast Private Limited
Case Number : Company Appeal (AT) (Insolvency) No. 1056 of 2025
CITATION : 2026 LLBiz NCLAT 275
The National Company Law Appellate Tribunal (NCLAT) at Delhi has set aside an order rejecting an insolvency application after finding that the corporate debtor had admitted outstanding dues in its reply to the statutory demand notice.
Commercial Wisdom Of Creditors No Bar To Judicial Scrutiny Of IRP Remuneration: NCLAT
Case Title : Mohd Nazim Khan Vs HDFC Bank Limited & Ors
Case Number : Company Appeal (AT) (Insolvency) 430/2025
CITATION : 2026 LLBiz NCLAT 275
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently held that disputes over an interim resolution professional's remuneration are not immune from judicial scrutiny merely because they arise from a decision of the Committee of Creditors (CoC).
Set-Off Under IBBI Liquidation Rules Applies Only Between Same Parties, Not Group Companies: NCLAT
Case Title : Assam Power Distribution Company Ltd. v. Mrs. Meena Sureka
Case Number : Company Appeal (AT) (Insolvency) No. 1205 of 2025
CITATION : 2026 LLBiz NCLAT 277
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has held that the benefit of set-off under the IBBI (Liquidation Process) Regulations, 2016 is available only where the mutual dealings are between the same parties and cannot be invoked to adjust dues owed by other group companies.
Case Title : Tech Lads India Pvt. Ltd. v. Satnam Global Infraprojects Ltd.
Case Number : Company Appeal (AT) (Insolvency) No. 1751 of 2025
CITATION : 2026 LLBiz NCLAT 278
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has held that Tech Lads India Pvt. Ltd.'s claim arising from an advance payment of ₹8 crore made to its consortium partner, Satnam Global Infraprojects Ltd., towards the supply of goods constituted an operational debt under the Insolvency and Bankruptcy Code, 2016.
OTS Breach Revives Original Loan Liability; Creditor Can Recover Full Dues: NCLAT New Delhi
Case Title : Gaurav Jaiswal Vs Indian Renewable Energy Development Agency Limited & Alok Kumar Agarwal
Case Number : Company Appeal (AT) (Insolvency) 594/2025
CITATION : 2026 LLBiz NCLAT 279
Creditors Cannot Question RP's Information Requests During Claim Verification: NCLAT New Delhi
Case Title : New Okhla Industrial Development Authority Vs Manohar Lal Vij & Gedpec Infratech Limited
Case Number : Company Appeal (AT) (Insolvency) 691/2024
CITATION : 2026 LLBiz NCLAT 280
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 30 June held that a creditor cannot question the information or clarifications sought by a Resolution Professional (RP) during verification of claims in the Corporate Insolvency Resolution Process (CIRP), as the RP is statutorily empowered to seek evidence necessary for substantiation of claims.
Continuation Of CIRP By Sole Creditor Despite Full Repayment Is Malicious Use Of IBC: NCLAT Delhi
Case Title : ACHAL KUMAR JINDAL Vs SANJAY KUMAR BHUWALKA & MAHESH AGARWAL
Case Number : Company Appeal (AT) (Insolvency) 2341/2024
CITATION : 2026 LLBiz NCLAT 281
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 30 June held that continuation of insolvency proceedings by a sole creditor despite full repayment of the debt amounted to malicious use of the Insolvency and Bankruptcy Code (IBC), which is intended for revival of corporate debtors and not for pursuing coercive or vindictive action
IBC S.121(2) Timeline For Personal Guarantor Bankruptcy Applications Directory, Not Mandatory: NCLAT
Case Title : Cosmos CO-Operative Bank Limited Vs Anil Kumar Gilra
Case Number : Company Appeal (AT) (Insolvency) 1095/2025
CITATION : 2026 LLBiz NCLAT 283
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 30 June held that the three month period prescribed under Section 121(2) of the Insolvency and Bankruptcy Code, 2016 (IBC) for filing a bankruptcy application against a personal guarantor is directory and not mandatory. Judicial Member Justice N Seshasayee and Technical Member Arun Baroka set aside the order of the Cuttack Bench of the National Company Law Tribunal (NCLT), which had dismissed Cosmos Co Operative Bank Limited's bankruptcy petition against personal guarantor Anil Kumar Gilra on the ground of delay.
Order Passed On Mistaken Facts Cannot Be Basis For Contempt: NCLAT
Case Title : ASHOK DATTATRAY ATRE & Ors Vs VIJENDRA KUMAR JAIN
Case Number : Contempt Case (AT) No.16 of 2026
CITATION : 2026 LLBiz NCLAT 284
The National Company Law Appellate Tribunal (NCLAT) has dismissed a contempt petition against a liquidator after holding that an order passed under a mistaken impression of facts cannot be enforced through contempt proceedings.
'Endless Indulgence' Under Guise Of Resolution Defeats IBC's Purpose: NCLAT
Case Title : Taguda Pte. Limited Vs SBI & Trupal Kumar Patel
Case Number : Company Appeal (AT) (Insolvency) 1710/2025
CITATION : 2026 LLBiz NCLAT 282
The National Company Law Appellate Tribunal (NCLAT) at Delhi has observed that the Insolvency and Bankruptcy Code (IBC) is intended to maximise value through a time-bound resolution process and cannot permit indefinite delays in implementing an approved resolution plan.
Case Title : Mega Mall Management Services Pvt. Ltd. v. Ajay Kumar Agarwal
Case Number : Company Appeal (AT) (Ins.) No. 1236 of 2025
CITATION : 2026 LLBiz NCLAT 285
The National Company Law Appellate Tribunal (NCLAT) has held that a related party cannot rely on its separate legal personality to refuse disclosure of financial information sought by a Resolution Professional where the information has a direct nexus with the corporate debtor's transactions and arrangements.
Expeditious Resolution Under IBC Cannot Override Natural Justice: NCLAT
Case Title : Hannu Steels Pvt. Ltd. v. Rathi Powertech Global Pvt. Ltd.
Case Number : Company Appeal (AT) (Ins.) No. 124 of 2026
CITATION : 2026 LLBiz NCLAT 286
The National Company Law Appellate Tribunal (NCLAT) in Delhi has held that the objective of speedy insolvency resolution under the Insolvency and Bankruptcy Code cannot come at the cost of fairness, setting aside an order that had closed a corporate debtor's right to file its reply in a pending insolvency case.
Case Title : Nakul Gupta Vs State Bank of India & Rajesh Mittal
Case Number : Company Appeal (AT) (Insolvency) 494/2024
CITATION : 2026 LLBiz NCLAT 287
The National Company Law Appellate Tribunal (NCLAT) in Delhi has upheld the initiation of personal insolvency proceedings against a former director of Technofab Engineering Limited, holding that under the terms of the deed of guarantee executed in the case, his resignation from the company did not discharge him from liability.
NCLAT New Delhi Expunges Remarks Against Mahavir Medicare RP, Clarifies RP's Independent IBC Duty
Case Title : Pragiti Construction Through Proprietor Renu Verma v. Committee of Creditors Represented by Mahavir Medicare & Anr.
Case Number : (I.A. Nos. 2480 & 2481 of 2026 in Company Appeal (AT) (Ins.) Nos. 2330 & 2331 of 2024)
CITATION : 2026 LLBiz NCLAT 288
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 6 July, held that a Resolution Professional (RP) must independently ensure that the Corporate Insolvency Resolution Process (CIRP) complies with the Insolvency and Bankruptcy Code, 2016 (IBC), and cannot merely implement the decisions of the Committee of Creditors (CoC)
Appeal Against Deferred Intervention Application In Insolvency Case Not Maintainable: NCLAT Chennai
Case Title : AYRA Consortium v. TruPro Insolvency Services LLP, Resolution Professional of Amar Prakaash Developers Pvt. Ltd.
Case Number : Company Appeal (AT) (CH) (INS) No. 200 of 2026
CITATION : 2026 LLBiz NCLAT 289
The Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) on 15 June held that an appeal under Section 61(1) of the Insolvency and Bankruptcy Code, 2016 cannot be filed against an order that only defers an intervention application for consideration along with a revised resolution plan after reconsideration by the Committee of Creditors (CoC).
Delayed Homebuyer Claim Cannot Be Rejected When RP Failed To Verify Records: NCLAT New Delhi
Case Title : Rajkumar Jhawar & Ors Vs Arun Kapoor & Ors
Case Number : Company Appeal (AT) (Insolvency) 13/2025
CITATION : 2026 LLBiz NCLAT 290
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 30 June held that a genuine homebuyer cannot be denied the benefit of an approved resolution plan merely because the homebuyer filed the claim belatedly, when the delay occurred due to the Resolution Professional's (RP) failure to identify and notify the homebuyer despite the corporate debtor's records reflecting the allotment.
Equity Investment Without Repayment Obligation Does Not Qualify As Financial Debt: NCLAT New Delhi
Case Title : Metamorphosis Trading LLP Vs Kumar Motors Private Limited
Case Number : Company Appeal (AT) (Insolvency) 1083/2024
CITATION : 2026 LLBiz NCLAT 291
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 1 July held that an amount advanced under a Subscription and Shareholders Agreement (SSA) towards purchase of equity shares and convertible warrants does not qualify as “financial debt” under the Insolvency and Bankruptcy Code, 2016 (IBC), unless the agreement creates a repayment obligation. Judicial Member Justice Mohd Faiz Alam Khan and Technical Member Ajai Das Mehrotra dismissed Metamorphosis Trading LLP's appeal against Kumar Motors Pvt. Ltd. and upheld an order of the Mumbai Bench of the National Company Law Tribunal (NCLT).
Acknowledged Interest On ICDs Forms Part Of Financial Debt Under IBC: NCLAT New Delhi
Case Title : WILD DREAMS TRADING COMPANY PVT. LTD. Vs ASCENDANCY FINANCIAL SERVICES PVT. LTD.
Case Number : Company Appeal (AT) (Insolvency) 636/2026
CITATION : 2026 LLBiz NCLAT 293
On 13 July, the New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) held that acknowledged interest on Inter Corporate Deposits (ICDs) forms part of “financial debt” under the Insolvency and Bankruptcy Code, 2016 (IBC). Judicial Member Justice N Seshasayee, along with Technical Members Indevar Pandey and Arun Baroka, allowed an appeal filed by Wild Dreams Trading Company Pvt. Ltd. against the Chandigarh Bench of the National Company Law Tribunal (NCLT), which had rejected its plea to initiate the Corporate Insolvency Resolution Process (CIRP) against Ascendancy Financial Services Pvt. Ltd.
NCLAT New Delhi Upholds CIRP Against Simbhaoli Sugar, Holds Farmers' Claims Must Be Considered
Case Title : Surender Pal Singh Mangat. Vs Oriental Bank of Commerce & Ors
Case Number : Company Appeal (AT) (Insolvency) 1404/2024 & 1405/2024
CITATION : 2026 LLBiz NCLAT 294
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 13 July upheld the admission of Corporate Insolvency Resolution Process (CIRP) against Simbhaoli Sugar Limited, holding that the insolvency proceedings were initiated independently of the Reserve Bank of India (RBI) circular later struck down by the Supreme Court.
Officiating Chairperson Justice Yogesh Khanna and Technical Member Ajai Das Mehrotra dismissed appeals filed against the order of the Allahabad Bench of the National Company Law Tribunal (NCLT), which had admitted the CIRP application against the sugar company.
IBC Cannot Be Used to Validate Illegal Constructions Or Defeat Town Planning Laws: NCLAT
Case Title : Uttar Pradesh Housing and Development Board Vs K.S.N. Buildwell Pvt. Ltd. & Anr.
Case Number : Company Appeal (AT) (Insolvency) 1581/2023 & 820/2025
CITATION : 2026 LLBiz NCLAT 295
The National Company Law Appellate Tribunal (NCLAT) in Delhi has held that while a corporate debtor's subsisting contractual and development rights under a hire-purchase agreement may constitute assets under the Insolvency and Bankruptcy Code (IBC), the insolvency process cannot be used to legitimise unauthorised construction or defeat statutory town planning laws.
Case Title : Maharashtra Airport Development Company Ltd. Vs Vinod Kumar Kothari & Anr.
Case Number : Company Appeal (AT) (Insolvency) 1355/2023 & 939/2024
CITATION : 2026 LLBiz NCLAT 296
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 14 June held that a liquidator can sell the shell legal entity of a corporate debtor through public auction during liquidation after consulting creditors, where all assets of the corporate debtor have already been realised and dissolution is the only remaining option. Judicial Member Justice Mohd Faiz Alam Khan and Technical Member Naresh Salecha upheld the sale of Abhijeet MADC Nagpur Energy Pvt. Ltd.'s legal entity, holding that Maharashtra Airport Development Company (MADC) could not challenge the sale when dissolution was the only alternative after the sale of all assets.
Case Title : Jiostar India Pvt. Ltd. Vs Absolute Legends Sports Pvt. Ltd
Case Number : Company Appeal (AT) (Insolvency) 1199/2026
The National Company Law Appellate Tribunal (NCLAT) on Monday issued notice in an appeal filed by Jiostar India Pvt. Ltd. against an order rejecting its insolvency plea against Absolute Legends Sports Pvt. Ltd., the promoter of the Legends League Cricket Masters T20 tournament. The appellate tribunal observed that the National Company Law Tribunal (NCLT) had failed to consider Jiostar's contention that the Media Rights Agreement had been duly signed on its behalf by Ankush Mahajan.
Case Title : UCO Bank Vs Subrata Das & Rahul Gupta
Case Number : Company Appeal (AT) (Insolvency) 451/2025 & 452/2025
CITATION : 2026 LLBiz NCLAT 297
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 14 July held that financial creditors can directly initiate insolvency proceedings against personal guarantors without any pending Corporate Insolvency Resolution Process (CIRP) or liquidation proceedings against the corporate debtor. Judicial Member Justice Mohd Faiz Alam Khan and Technical Member Naresh Salecha allowed appeals filed by UCO Bank against orders of the Kolkata Bench of the National Company Law Tribunal (NCLT), which had rejected insolvency applications filed against personal guarantors Subrata Das and Rahul Gupta of Haridra Vintrade Private Limited.
NCLAT Sets Aside NCLT Order Applying Corporate Insolvency Threshold To Personal Insolvency Plea
Case Title : Mukesh Kumar Vs Baba Shri Chand Alloys & Ors
Case Number : Company Appeal (AT) (Insolvency) 1045/2026
CITATION : 2026 LLBiz NCLAT 298
The National Company Law Appellate Tribunal (NCLAT) in Delhi has set aside an order of the National Company Law Tribunal (NCLT) that dismissed a personal insolvency application after applying the minimum default threshold applicable to corporate insolvency proceedings. The appellate tribunal has remanded the matter to the NCLT Chandigarh for fresh consideration. A bench of Judicial Member Justice N. Seshasayee and Technical Member Barun Mitra held that the application must be reconsidered in light of the threshold prescribed for insolvency proceedings involving individuals and partnership firms.
Case Title : Association of Independent House Owners of Jaypee Greens Vs Bhuvan Madan
Case Number : Company Appeal (AT) (Insolvency) 877/2026 & 878/2026
CITATION : 2026 LLBiz NCLAT 299
The National Company Law Appellate Tribunal (NCLAT) in Delhi has dismissed appeals filed by the Association of Independent House Owners of Jaypee Greens, refusing to interfere with an order declining to direct the inclusion of a mandatory condition in Jaiprakash Associates Ltd's resolution plan for the construction of a social club. The appellate tribunal noted that the resolution plan had already been approved. It also took note of the Successful Resolution Applicant's (SRA) undertaking to engage with the association on the issue.
CoC-Approved Valuation Cannot Be Reopened At Instance Of Suspended Director: NCLAT New Delhi
Case Title : Santosh R. Shetty Vs Rajan Deshraj Agarwal & Ors
Case Number : Company Appeal (AT) (Insolvency) 1378/2024
CITATION : 2026 LLBiz NCLAT 300
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 14 July held that a suspended director cannot seek fresh valuation of a corporate debtor's assets after the Committee of Creditors (CoC) has approved the valuation reports and the resolution plan. Valuation decisions fall within the CoC's commercial wisdom. Judicial Member Justice Mohd Faiz Alam Khan and Technical Member Naresh Salecha dismissed appeals filed by Santosh R. Shetty, suspended director and promoter of Sristi Hospitality Pvt. Ltd., challenging orders passed by the Mumbai Bench of the National Company Law Tribunal (NCLT). The NCLAT upheld the rejection of his revaluation plea and the approval of the resolution plan
Pending Compromise Scheme No Bar To Insolvency Proceedings: NCLAT
Case Title : Kavish Gupta Vs Yes Bank Ltd & Ors
Case Number : Company Appeal (AT) (Insolvency) 1015/2025, 812, 813, 815, and 816 of 2025
CITATION : 2026 LLBiz NCLAT 301
The National Company Law Appellate Tribunal (NCLAT) in Delhi has held that a proposed scheme of compromise under the Companies Act and ongoing one-time settlement (OTS) negotiations cannot prevent the admission of insolvency proceedings once financial debt and default are established. A bench of Judicial Member Justice N. Seshasayee and Technical Members Arun Baroka and Indevar Pandey held that the National Company Law Tribunal (NCLT) was justified in admitting insolvency proceedings against KKSPUN India Limited over Yes Bank's claim of about ₹32.57 crore.
Gratuity Payable To Retiring Employee Cannot Be Equated With Salary, Not Part Of CIRP Costs: NCLAT
Case Title : Subir Mukherjee Vs Ram Ratan Modi
Case Number : Company Appeal (AT) (Insolvency) 72/2025
CITATION : 2026 LLBiz NCLAT 302
The National Company Law Appellate Tribunal (NCLAT) in Delhi has held that gratuity payable to an employee who retires during the corporate insolvency resolution process cannot be treated as part of the insolvency resolution process costs. It held that gratuity is a terminal benefit and not an expense incurred by the Resolution Professional (RP) in running the insolvency process.
A bench of Judicial Member Justice N. Seshasayee and Technical Members Arun Baroka and Indevar Pandey upheld an order of the National Company Law Tribunal (NCLT), Kolkata. The tribunal had rejected a former director and employee's plea to classify his gratuity and leave encashment dues as CIRP costs.
Case Title : Arvinder Kaur Vs Santanu Kumar Samanta & Bank of Maharashtra
Case Number : Company Appeal (AT) (Insolvency) 264/2025
CITATION : 2026 LLBiz NCLAT 303
The National Company Law Appellate Tribunal (NCLAT) in Delhi has held that the dismissal of a debt recovery case for default does not wipe out the underlying debt or prevent insolvency proceedings against a personal guarantor. It dismissed an appeal filed by a personal guarantor challenging the National Company Law Tribunal's (NCLT) order admitting the Bank of Maharashtra's application.
Case Title : Shree Dhanvantari Pharmaceuticals Vs Konkan Ayur Pharma Private Limited
Case Number : Company Appeal (AT) (Insolvency) 988/2024
CITATION : 2026 LLBiz NCLAT 304
The National Company Law Appellate Tribunal (NCLAT) has recently clarified that where a majority of partners has decided to initiate insolvency proceedings, the petition need not be signed by all of them, as one partner may act on behalf of the firm under the Partnership Act. The tribunal, however, dismissed the appeal before it after holding that the insolvency application was barred by limitation.
Case Title : Sachin Naveen Sinha Vs The Insolvency and Bankruptcy Board of India
Case Number : I.A. No.4537 of 2026 in Company Appeal (AT) (Ins) No. 1165 of 2026
CITATION : 2026 LLBiz NCLAT 306
The National Company Law Appellate Tribunal (NCLAT) in Delhi has recently stayed the operation of the Insolvency and Bankruptcy Board of India's (IBBI) order suspending an insolvency professional from continuing in his other ongoing assignments, while leaving the suspension undisturbed in the corporate insolvency resolution process (CIRP) from which he had been removed. The interim relief allows him to continue in his other assignments pending adjudication of his appeal.
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.
NCLT
Case Title : AXIS TRUSTEE SERVICES LIMITED Vs TALENT UNLIMITED ONLINE SERVICES PRIVATE LIMITED
Case Number : C.P.(IB)–169(ND)/2026
CITATION : 2026 LLBiz NCLT(DEL) 657
The National Company Law Tribunal (NCLT) at New Delhi has admitted an insolvency plea over a default of about Rs 5.77 crore against Talent Unlimited Online Services Private Limited, known as the parent company of Bobble AI, on secured non-convertible debentures.Business & Corporate Law
Case Title : St John Lines PTE Limited v. R Venkatakrishnan
Case Number : IA/13/IBC/2025 in CP(IB)/759/CHE/2018
CITATION : 2026 LLBiz NCLT(CHE) 658
A step-down subsidiary cannot use indirect or colourable means to extract assets or establish parallel claims against its holding company undergoing liquidation, the National Company Law Tribunal, Chennai, held.
NCLT Allahabad Says It Cannot Determine Unadjudicated MSMED Interest Claims During CIRP
Case Title : MODERN OVERSEAS PRIVATE LIMITED Vs PARAMJEET SINGH BHATIA & Ors
Case Number : IA No.722/2025 IN CP (IB) No.04/ALD/2019
CITATION : 2026 LLBiz NCLT (ALL) 660
The Allahabad Bench of the National Company Law Tribunal (NCLT) has recently held that it cannot determine an unadjudicated claim for interest under the Micro, Small, and Medium Enterprises Development (MSMED) Act during the corporate insolvency resolution process if the interest liability had not been adjudicated by a competent forum before the insolvency proceedings commenced.
NCLT Chandigarh Holds Marketing MoU Cannot Confer Homebuyer Status, Rejects ₹11 Crore Claim
Case Title : RealPro Assets Ltd Vs Rahul Jindal
Case Number : I.A.(I.B.C) No.891 of 2025 in CP (IB) No. 98/Chd/Hry/2022
CITATION : 2026 LLBiz NCLT(CHA) 659
The Chandigarh Bench of the National Company Law Tribunal (NCLT) on 11 June held that a marketing and sales facilitation agreement does not confer the status of a homebuyer or financial creditor in the absence of documents evidencing allotment of flats.
Case Title : Keshab Chand Gupta & Ors Vs Rahul Jindal & Ors
Case Number : I.A.(I.B.C)/585(CH)/2025 in CP (IB) No. 98/Chd/Hry/2022
CITATION : 2026 LLBiz NCLT(CHA) 661
The Chandigarh Bench of the National Company Law Tribunal (NCLT) has dismissed an application filed by three homebuyers seeking recognition as financial creditors of Samar Estates Pvt. Ltd. The tribunal held that the applicants failed to establish that the disputed Rs 60 lakh had been disbursed to the corporate debtor. It noted that the applicants themselves admitted the money had been paid into the personal accounts of the company's directors.
Case Title : Punjab National Bank vs. Goyal Energy and Steel Limited
Case Number : IA (IB) (Plan) No. l/CB/2026 in CP (IB) No. 41/CB/2o23
CITATION : 2026 LLBiz NCLT (CUT) 663
The National Company Law Tribunal (NCLT) at Cuttack has recently approved a resolution plan worth ₹79 crore for Goyal Energy and Steel Limited, submitted by Mumbai-based Nakshatra Asset Ventures Ltd.
Case Title : Green Consultancy Vs Jhaveri Spices Private Limited
Case Number : C.P.(IB)/122(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 664
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 23 June 2026 dismissed an insolvency petition filed by Green Consultancy against Jhaveri Spices Pvt. Ltd., holding that a claim arising from a sales incentive scheme promising transfer of immovable property does not qualify as “operational debt” under the Insolvency and Bankruptcy Code, 2016 (IBC), and therefore cannot sustain proceedings under Section 9.
Mere Allegations Of Fraud Cannot Become A Vehicle To Reopen Every Concluded CIRP: NCLT Bengaluru
Case Title : Smt. Yogitha Vijayakumar v. Mrs Shirley Mathew
Case Number : IA No. 857 of 2025 in CP(IB) No. 02/BB/2020
CITATION : 2026 LLBiz NCLT(BEN) 665
The National Company Law Tribunal at Bengaluru has reiterated that mere allegations of fraud cannot be permitted to become a vehicle for reopening every concluded Corporate Insolvency Resolution Process, especially when such allegations are founded on materials that were already available during the insolvency proceedings.
Case Title : M.P Krishnan v. M/s Frontier Shelters Pvt Ltd
Case Number : IA(IBC) 159/2026 in CP(IB) No. 170/BB/2025
CITATION : 2026 LLBiz NCLT(BEN) 666
The National Company Law Tribunal (NCLT) at Bengaluru has recently held that allowing a group of homebuyers to intervene in a developer's insolvency petition at the pre-admission stage would "amount to opening the floodgates" for objections on extraneous considerations
NCLT Chandigarh Rejects Recasting Of Claims Based On Pre-CIRP Refunds, Upholds RP Methodology
Case Title : Ashok Gupta & Ors. v. Rahul Jindal, Resolution Professional, Samar Estate Pvt. Ltd.
Case Number : I.A. (I.B.C.) No. 2596 of 2024 in CP (IB) No. 98/Chd/Hry/2022
CITATION : 2026 LLBiz NCLT(CHA) 668
The Chandigarh Bench of the National Company Law Tribunal (NCLT) on 5 June 2026 held that homebuyers cannot reappropriate amounts refunded before commencement of the Corporate Insolvency Resolution Process (CIRP) towards interest to enhance their admitted claims.
Case Title : Tollman International Private Limited v. Capstech Network Private Limited
Case Number : I.A. No. 206/ND/2025 in C.P. (IB) No. 2/ND/2024
CITATION : 2026 LLBiz NCLT(DEL) 667
The National Company Law Tribunal (NCLT) in New Delhi has held that perjury jurisdiction cannot be invoked to penalise every pleading defect or omission.
Settlement Restructuring Payment Timelines Does Not Change Nature Of Operational Debt: NCLT Chennai
Case Title : Om Tranns Infra Corporation Private Limited v. Everrenew Energy Private Limited
Case Number : CP(IB)/140(CHE)/2025
CITATION : 2026 LLBiz NCLT(CHE) 673
The National Company Law Tribunal (NCLT) at Chennai has held that a settlement agreement that merely restructures repayment or acknowledges an existing liability does not extinguish or alter the original character of the debt.
Monitoring Committee Cannot Override Fee Caps In Approved Resolution Plan: NCLT Bengaluru
Case Title : Mr. Padmanabhan Nair v. Mr. Pulkit Agarwal
Case Number : IA No. 304 of 2026 in CP(IB) No. 87/BB/2023
CITATION : 2026 LLBiz NCLT(BEN) 674
The Bengaluru Bench of the National Company Law Tribunal (NCLT) on 22 June held that a Monitoring Committee cannot override or modify fee caps prescribed under an approved resolution plan through internal arrangements or mutual consent.
Patient Privacy Can't Bar RP's Access To Hospital Management System: NCLT Indore
Case Title : Chaya Gupta, Resolution Professional of Greater Kailash Hospitals Private Limited v. Anil Bandi & Anr.
Case Number : I.A. (I.B.C.) No. 347(MP)2025 in C.P. (IB) No. 3(MP)2024
CITATION : 2026 LLBiz NCLT(IND) 672
The National Company Law Tribunal (NCLT) in Indore has ruled that suspended directors of a hospital undergoing insolvency proceedings cannot deny a resolution professional access to its Hospital Management System by citing patient-data privacy.
Case Title : M/s. Silver Collections Private Limited v. M/s. Paragon Knits Limited
Case Number : CP (IB) No. 763/(ND)/2024
CITATION : 2026 LLBiz NCLT(DEL) 675
The New Delhi National Company Law Tribunal (NCLT) has held that once parties enter into a settlement agreement before admission of a Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016, any subsequent default arising from such settlement does not give rise to an “operational debt” and cannot sustain insolvency proceedings
Case Title : IIFL Home Finance Limited Vs. M/S. J-Seventy-One Properties And Pictures Pvt. Ltd.
Case Number : C.P. (IB)/721(MB)2025
CITATION : 2026 LLBiz NCLT (MUM) 678
The Mumbai Bench of the National Company Law Tribunal (NCLT) has admitted an insolvency plea filed by IIFL Home Finance Ltd. against J-Seventy One Properties and Pictures Pvt. Ltd. after finding that the company owed a financial debt of about ₹2.42 crore and had remained in default. Judicial Member Nilesh Sharma and Technical Member Sameer Kakar held that the financial debt and the continuing default were established through documentary evidence.
Case Title : Vaishali Patrikar, Resolution Professional vs M/s Dev Land and Housing Private Limited and Others
Case Number : IA 1626 of 2023
CITATION : 2026 LLBiz NCLT (MUM) 679
The Mumbai Bench of the National Company Law Tribunal (NCLT), hearing proceedings arising from the corporate insolvency resolution process (CIRP) of Satra Properties (India) Ltd., has held that the forfeiture of ₹29.35 crore advanced by the company to Dev Land & Housing Pvt. Ltd. was a fraudulent transaction.
Interest-Bearing Inter-Corporate Loan Can Qualify As Financial Debt Under IBC: NCLT Kolkata
Case Title : Scorpion Nirman Private Limited v. Swal Limited
Case Number : C.P. (IB) No. 261/KB/2025
CITATION : 2026 LLBiz NCLT (KOL) 677
The National Company Law Tribunal (NCLT), Kolkata Bench, has held that an inter-corporate loan carrying interest qualifies as a "financial debt" under Section 5(8) of the Insolvency and Bankruptcy Code, 2016, provided it satisfies the twin requirements of time value of money and commercial effect of borrowing
Case Title : Immix Trade Private Limited Vs Sunrise Properties Pvt Ltd
Case Number : IA/2411/2025 C.P. (IB)/1154(MB)2023
CITATION : 2026 LLBiz NCLT (MUM) 680
The National Company Law Tribunal (NCLT) at Mumbai has recently held that a financial creditor's invocation of pledged shares after the commencement of the Corporate Insolvency Resolution Process (CIRP) violated the moratorium under the Insolvency and Bankruptcy Code (IBC). It ruled that the creditor's contractual right to invoke the pledge could not override the statutory moratorium.
Case Title : Bank Of Maharashtra Vs DNR India Autotech Private Limited
Case Number : C.P.(IB)/1(MB)2026
CITATION : 2026 LLBiz NCLT (MUM) 681
The Mumbai Bench of the National Company Law Tribunal (NCLT) has recently admitted Bank of Maharashtra's insolvency plea against DNR India Autotech Pvt Ltd. The Corporate Insolvency Resolution Process has been initiated over an alleged default of ₹17.98 crore arising from a corporate guarantee executed by the company for credit facilities extended to Tirumalla Agro Industries Pvt Ltd
IBC Threshold Must Be Tested Against MahaRERA Records At Time Of Filing Petition: NCLT Mumbai
Case Title : K. D. LITE DEVELOPERS PRIVATE LIMITED vs M.S. Gopikrishnan & Ors
Case Number : IA No.3045 of 2024 In C.P (IB) No.1420 of 2020
CITATION : 2026 LLBiz NCLT (MUM) 682
On 6 July, the Mumbai Bench of the National Company Law Tribunal (NCLT) held that the number of allottees reflected on the MahaRERA website on the date of filing an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) is the relevant benchmark for determining whether the statutory threshold for initiating insolvency proceedings is satisfied.
COVID Extension Does Not Waive Interest On Delayed Liquidation Payments: NCLT Mumbai
Case Title : IDBI Bank Ltd. V/s. S Kumars Nationwide Ltd.
Case Number : IA 2447/2021 In C.P. (IB) 294(MB)/2018
CITATION : 2026 LLBiz NCLT (MUM) 683
On 6 July, the Mumbai Bench of the National Company Law Tribunal (NCLT) held that a liquidator's extension of the timeline for payment of auction consideration due to COVID 19 disruptions under Regulation 47A of the Liquidation Process Regulations does not waive the successful bidder's liability to pay contractual interest for delayed payment.
IBC Claim Requires Crystallised Right To "Payment," Not Mere Right To "Performance": NCLT Kolkata
Case Title : Indian Overseas Bank vs D C Industrial Plant Services Private Limited
Case Number : I.A. (IB) No. 1832/KB/2019 In C.P. (IB) No. 45/KB/2018
CITATION : 2026 LLBiz NCLT (KOL) 684
The Kolkata Bench of the National Company Law Tribunal (NCLT) on 3 July held that a contractual right to performance cannot be treated as a “right to payment” under Section 3(6) of the Insolvency and Bankruptcy Code, 2016, unless the claim has crystallised into a payable amount.
Statutory Authorities Not Exempt From CIRP Timelines: NCLT Mumbai Rejects EPFO's Delayed Claim
Case Title : The Central Board of Trustees, PFO vs Ashok Kumar Golechha
Case Number : INV. P. No. (IBC)/141/(MB)/2025
CITATION : 2026 LLBiz NCLT (MUM) 687
The Mumbai Bench of the National Company Law Tribunal refused to condone a 400-day delay by the Employees' Provident Fund Organisation (EPFO) in filing its claim in the corporate insolvency resolution process (CIRP) of Sovika Aviation Services Pvt Ltd
Case Title : KDRA INSOLVENCY PROFESSIONALS PRIVATE LIMITED vs ARMAAN SUNIL KOTHARI
Case Number : IA (I.B.C) (Plan) No. 46/MB/2025 in CP (IB) No. 786/MB/2023
CITATION : 2026 LLBiz NCLT (MUM) 688
The Mumbai Bench of the National Company Law Tribunal has rejected the resolution plan submitted by Armaan Sunil Kothari for 4B Networks Pvt Ltd. It held that the plan wrongly allowed the successful resolution applicant (SRA) to exclusively retain recoveries from pending Preferential, Undervalued, Fraudulent and Extortionate (PUFE) proceedings, including one seeking recovery of about ₹7,349 crore.
Case Title : Oriental Bank Of Commerce Vs Panache Exports Pvt Ltd
Case Number : IA/3782/2025 C.P. (IB)/2607(MB)2019
CITATION : 2026 LLBiz NCLT (MUM) 689
The Mumbai Bench of the National Company Law Tribunal (NCLT) has held that a cooperative society can enforce its statutory first charge over a property against an auction purchaser even after participating in the liquidation process by filing its claim before the liquidator.
NCLT Kochi Rejects Insolvency Plea Against BPL, Finds It Was Attempt To Recover Arbitral Award Dues
Case Title : M/s Morgan Securities and Credits Pvt Ltd v. BPL Limited
Case Number : CP(IB)/10/KOB/2026
CITATION : 2026 LLBiz NCLT (KOC) 690
The National Company Law Tribunal (NCLT) at Kochi has recently dismissed an insolvency plea against consumer electronics company BPL Limited. It held that the Insolvency and Bankruptcy Code (IBC) cannot be invoked as an additional or parallel mechanism to recover the balance amount under an arbitral award after a creditor has already pursued execution proceedings.
Case Title : Mehsana Food Tradelinkers Pvt. Ltd. Vs Mehsana Dairy and Food Products Limited
Case Number : C.P.(IB)/99(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 691
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 26 June held that a corporate debtor cannot defeat an insolvency petition by raising contractual disputes that are unsupported by contemporaneous evidence.
NCLT Mumbai Rejects ₹4.43 Cr Section 9 Plea, Holds Pre Existing Dispute Over Part Of Debt Sufficient
Case Title : Lumens Technologies Private Limited Vs. Radhika Opto Electronics Limited
Case Number : C.P. (IB)/780/MB/2025
CITATION : 2026 LLBiz NCLT (MUM) 692
The Mumbai Bench of the National Company Law Tribunal (NCLT) on 30 June held that a pre existing dispute raised before issuance of a demand notice can defeat a Section 9 application under the Insolvency and Bankruptcy Code (IBC), even if the dispute relates only to a part of the operational debt, unless the disputed amount is wholly insignificant.
Case Title : Jet Airways (India) Limited, Through Mr. Satish Kumar Gupta, Liquidator, Jet Airways (India) Limited vs Maharashtra Industrial Development Corporation
Case Number : IA NO. 5460 OF 2025 IN CP (IB) NO. 2205 OF 2019
CITATION : 2026 LLBiz NCLT (MUM) 694
The National Company Law Tribunal (NCLT) in Mumbai on Wednesday set aside the Maharashtra Industrial Development Corporation's (MIDC) cancellation of two plot allotments made to Jet Airways (India) Ltd, holding that the airline's rights under the long-term lease arrangements form part of its liquidation estate. The tribunal directed MIDC to execute the lease agreements with the corporate debtor.
NCLT Mumbai Admits Kishore Biyani-Led Future Consumer Into CIRP Over ₹263.77 Crore Default
Case Title : Resurgent India Special Situations Fund Vs Future Consumer Limited
Case Number : C.P. (IB)/914(MB)2025
CITATION : 2026 LLBiz NCLT (MUM) 695
The Mumbai Bench of the National Company Law Tribunal on Wednesday admitted Kishore Biyani-led Future Consumer Ltd into the Corporate Insolvency Resolution Process (CIRP) on a petition filed by Resurgent India Special Situations Fund.
Case Title : MR. ASHOK KUMAR GOLECHHA
Case Number : I.A. (I.B.C) (Plan) No.41/MB/2025, INVP No.74/2025 & IA 2818/2025 in CP (IB) No.314/MB/2023
CITATION : 2026 LLBiz NCLT (MUM) 697
Describing the Resolution Professional's explanation for wrongly portraying VAS Infrastructure Ltd.'s development rights as ownership rights as "shocking and bewildering," the National Company Law Tribunal rejected a ₹85.05 crore resolution plan for the company.
Case Title : The Canara Bank Limited Vs. Globiz Exim Private Limited
Case Number : C.P. (IB)/595/MB/2025
CITATION : 2026 LLBiz NCLT (MUM) 699
On 8 July, the Mumbai Bench of the National Company Law Tribunal (NCLT) held that a second demand notice cannot revive a time-barred insolvency claim arising from an on-demand corporate guarantee, where limitation had already commenced upon invocation of the guarantee.
NCLT Ahmedabad Admits Insolvency Plea Against Montecarlo, Rejects 'Pre-Existing Dispute' Defence
Case Title : Vanshita Transport Vs Montecarlo Limited
Case Number : C.P.(IB)/246(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 700
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 6 July admitted an insolvency petition against Montecarlo Limited, holding that disputes raised only after receipt of a demand notice cannot be treated as “pre-existing disputes” under the Insolvency and Bankruptcy Code, 2016 (IBC).
NCLT Bengaluru Issues Notice To Ola Electric Technologies In ₹9.57 Crore Insolvency Plea
Case Title : Seoyon E-Hwa Summit Mobility Krishnagiri Private Limited, Vs Ola Electric Technologies Private Limited
Case Number : CP(IB) No. 149/BB/2026
Today, the Bengaluru Bench of the National Company Law Tribunal (NCLT) issued notice in an insolvency petition against Ola Electric Technologies Private Limited after an operational creditor alleged that the company defaulted on payment of Rs. 9.57 crore
NCLT Mumbai Dismisses Insolvency Plea Against Shapoorji Pallonji
Case Title : Ovaron Infrastructure & MEP Services Vs. Shapoorji Pallonji And Company Private Limited
Case Number : C.P. (IB)/639/MB/2025
CITATION : 2026 LLBiz NCLT (MUM) 702
The National Company Law Tribunal (NCLT) at Mumbai on Friday dismissed Ovaron Infrastructure & MEP Services' insolvency plea against construction major Shapoorji Pallonji and Company Pvt. Ltd. It found that the principal claim of ₹96.18 lakh remained below the Insolvency and Bankruptcy Code's ₹1 crore threshold. The claim crossed the threshold only after adding disputed interest under the Micro, Small, and Medium Enterprises Development (MSMED) Act and GST.
NCLT Kochi Says CoC Cannot Cripple Insolvency Process By Refusing To Fund Essential CIRP Costs
Case Title : CS Narender Reddy Banala v. T.S Jayaprakash
Case Number : IA(IBC)/23/KOB/2025 in CP(IB)/05/KOB/2024
CITATION : 2026 LLBiz NCLT (KOC) 703
The National Company Law Tribunal (NCLT) at Kochi has ruled that the Committee of Creditors (CoC) cannot cripple the Corporate Insolvency Resolution Process (CIRP) by refusing to meet its essential costs. It observed that the insolvency process cannot function if the Resolution Professional is deprived of the funds required to discharge statutory duties.
NCLT Mumbai Rejects 100 Jet Lite Employees' Bid To Claim Dues In Jet Airways Liquidation
Case Title : Yogen Vaman Vemekar & Ors Versus Mr. Satish Kumar Gupta & Ors
Case Number : IA NO. 5729 OF 2025 IN CP (IB) NO. 2205 OF 2019
CITATION : 2026 LLBiz NCLT (MUM) 704
The Mumbai Bench of the National Company Law Tribunal has dismissed an application filed by 100 former employees of Jet Lite (India) Ltd. seeking to have their employment dues admitted in the liquidation of Jet Airways (India) Ltd.
Liquidator Cannot Take Possession Of Asset Where Ownership Is Seriously Disputed: NCLT Mumbai
Case Title : Birendra Kumar Agrawal Versus Middle East Management Services LLP
Case Number : IA(I.B.C)/1023/MB/2025 IN CP(IB) No. 93 of 2022
CITATION : 2026 LLBiz NCLT (MUM) 705
Case Title : Mr. Kedar Parshuram Mulye vs SRI ADHIKARI BROTHERS DIGITAL NETWORK LIMITED
Case Number : IA(IBC)(Plan)/15/MB/2026 IN CP (IBPP) No. 1 of 2025
CITATION : 2026 LLBiz NCLT (MUM) 706
The Mumbai Bench of the National Company Law Tribunal approved the pre-packaged insolvency resolution plan of SAB Events & Governance Now Media Ltd.
Case Title : M/s Shapos Services Private Limited v. Sri. Mayank Tiwari and Ors
Case Number : IA No. 184 of 2025 in CP(IB) No. 78/BB/2024
CITATION : 2026 LLBiz NCLT (BEN) 708
The National Company Law Tribunal (NCLT) at Bengaluru has ruled that the Companies Act, 2013 and the Digital Personal Data Protection Act, 2023 cannot be relied upon to fasten liability on a third-party cloud service provider where there is no direct legal or contractual nexus with the corporate debtor. A bench of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada held that Amazon Web Services India Pvt. Ltd. (AWS India) and its officials could not be directed to cooperate under the Insolvency and Bankruptcy Code because they were neither personnel of Shapos Services Private Limited nor associated with the company's management.
NCLT Delhi Admits CIRP Plea, Holds Advance Paid For Unsupplied Goods Qualifies As Operational Debt
Case Title : NARINDRA & NARINDRA STEEL CORPORATION Vs SWADESH GREEN INFRA LIMITED
Case Number : IB – 394(ND)/2025
CITATION : 2026 LLBiz NCLT(DEL) 707
The Delhi Bench of the National Company Law Tribunal (NCLT) has admitted insolvency proceedings against Swadesh Green Infra Limited after holding that an advance payment made under a commercial arrangement for the supply of goods qualified as an operational debt. The tribunal found that the supplier had failed to deliver the remaining goods.
NCLT Admits Insolvency Plea Against The Moms Co. Parent Over ₹1.32 Crore Dues
Case Title : Bjain Pharmaceuticals Private Limited Vs AMISHI CONSUMER TECHNOLOGIES PVT LTD
Case Number : C.P (IB)/469/(ND)/2025
CITATION : 2026 LLBiz NCLT(DEL) 709
The Delhi Bench of the National Company Law Tribunal (NCLT) has admitted an insolvency petition filed by Bjain Pharmaceuticals Pvt. Ltd. against Amishi Consumer Technologies Pvt. Ltd., the company behind the personal care brand The Moms Co., which manufactures personal care products over an operational debt of ₹1.32 crore.
Case Title : Indian Overseas Bank Vs Mhow Ghatabill Toll Roads Pvt. Ltd.
Case Number : CP (IB) – 159(ND)/2026
CITATION : 2026 LLBiz NCLT(DEL) 710
The Principal Bench of the National Company Law Tribunal (NCLT), New Delhi, has admitted an insolvency petition filed by Indian Overseas Bank against infra company Mhow Ghatabill Toll Roads Pvt. Ltd. over an alleged default of ₹117.74 crore.
Case Title : Sanjeev Mahajan Vs Nimitaya Hotel Resorts Ltd.
Case Number : TA (IBC)-28(PB)/2026
CITATION : 2026 LLBiz NCLT(DEL) 711
The Principal Bench of the National Company Law Tribunal (NCLT), New Delhi, has dismissed a transfer application filed by the ex-promoter of Nimitaya Hotel Resorts Ltd. seeking to move the company's insolvency proceedings from the Special Bench to another bench. The tribunal imposed costs of ₹50,000 after finding that the applicant had concealed material facts.
CIRP Not Maintainable Against Company Struck Off From Register: NCLT Mumbai
Case Title : Adamji Investments Private Limited V/s M Cons Media Marketing Private Limited
Case Number : C.P. (IB)/159(MB)2025
CITATION : 2026 LLBiz NCLT (MUM) 713
The Mumbai Bench of the National Company Law Tribunal (NCLT) has reiterated that a Corporate Insolvency Resolution Process (CIRP) cannot be initiated against a company whose name has already been struck off from the register of companies. It observed that once the company's certificate of incorporation is cancelled, it no longer remains a "corporate person" under the Insolvency and Bankruptcy Code.
NCLT Records Highest-Ever First-Quarter Performance Under IBC, Approves 78 Resolution Plans
The National Company Law Tribunals (NCLT) across the country have recorded their highest-ever first-quarter performance under the Insolvency and Bankruptcy Code (IBC), approving 78 resolution plans between April and June 2026, according to a performance report issued by its Registrar on July 13, 2026. The 78 resolution plans, involving an aggregate approved value of ₹5,517.66 crore, surpassed the previous first-quarter high of 73 approvals recorded during April-June 2024.
During the corresponding quarter, the tribunal had approved none in 2017, 13 in 2018, 26 in 2019, 19 in 2020, 35 in 2021, 42 in 2022, 45 in 2023, 73 in 2024, and 58 in 2025.
NCLT Mumbai Rejects Resolution Professional's Two Fraudulent Transaction Pleas In RCIL Insolvency
Case Title : Anish Niranjan Nanavaty (Resolution Professional of Reliance Communications Infrastructure Limited) V/s Netizen Engineering Pvt. Ltd.
Case Number : IA (COMPANIES.ACT)/770 (MB) 2021 IN CP/3025 (MB) 2019
CITATION : 2026 LLBiz NCLT (MUM) 715
The Mumbai bench of the National Company Law Tribunal has dismissed two applications filed by the Resolution Professional of Reliance Communications Infrastructure Ltd (RCIL), which alleged fraudulent transactions involving Netizen Engineering Pvt Ltd (NEPL) and RCIL's wholly owned subsidiary, Worldtel Tamil Nadu Pvt Ltd (WTPL). The tribunal found that the transactions did not increase the corporate debtor's liabilities.
Case Title : Hinganghat Infrastructure Private Limited Vs. Mr. Jagdish Kumar
Case Number : I.A. No.3289 of 2024 In C.P (IB) No. 3402 of 2019
CITATION : 2026 LLBiz NCLT (MUM) 716
The Mumbai bench of the National Company Law Tribunal has dismissed an application filed by Hinganghat Infrastructure Pvt Ltd seeking a direction to the Resolution Professional and the Committee of Creditors (CoC) of Deegee Orchards Pvt Ltd to refund its ₹5 lakh Participation Money Deposit (PMD) and ₹25 lakh Earnest Money Deposit (EMD). The tribunal held that the company's failure to disclose its relationship and arrangement with the former management of the corporate debtor amounted to a fraudulent practice under the Request for Resolution Plan (RFRP).
NCLT Delhi Questions Indian Bank's Belated RP Removal Bid, Cites Lack Of Basis For 'Loss Of Trust'
Case Title : Indian Bank Vs Nimitiya Hotel and Resorts Limited
Case Number : IA-1222/2026 in (IB)-1913(ND)2019
CITATION : 2026 LLBiz NCLT(DEL) 717
The New Delhi National Company Law Tribunal (NCLT) on 7 July questioned Indian Bank's attempt to replace the Resolution Professional (RP) of Nimitiya Hotel and Resorts Limited more than two and a half years after approving the resolution plan, observing that the bank failed to provide any factual basis beyond citing “loss of trust”. Judicial Member Jyotsna Sharma and Technical Member Reena Sinha Puri directed that copies of its orders dated 20 March 2026, 15 April 2026, and 20 May 2026 be forwarded to the Chairman of Indian Bank for examination and necessary action.
NCLT Delhi Admits CIRP Against Regal Enterprises, Rejects Solvency Claim Without Evidence
Case Title : Akkme Food Craft Limited Vs Regal Enterprises Limited
Case Number : IA-2409/2026 & IB NO.181(PB)/2026
CITATION : 2026 LLBiz NCLT(DEL) 719
The New Delhi National Company Law Tribunal (NCLT) on 9 July admitted a Corporate Insolvency Resolution Process (CIRP) petition against Regal Enterprises Limited, holding that a financial creditor only needs to establish the existence of debt and default under Section 7 of the Insolvency and Bankruptcy Code (IBC).
Case Title : PASHUPATI FACILITY AND MANAGEMENT SERVICE PRIVATE LIMITED Vs PRODOT MEDIA PRIVATE LIMITED
Case Number : CP (IB) 127 (ND) 2025
CITATION : 2026 LLBiz NCLT(DEL) 718
The New Delhi Bench of the National Company Law Tribunal (NCLT) on 1 July held that a corporate guarantor's co-extensive liability is not extinguished merely because a Financial Creditor's claim has been partially admitted under the resolution plan of the principal borrower. Judicial Member Mahendra Khandelwal and Technical Member Atul Chaturvedi admitted an insolvency petition filed by Pashupati Facility and Management Service Pvt. Ltd. against Prodot Media Pvt. Ltd., in its capacity as a corporate guarantor for the loan default of Teriyaki Builders Pvt. Ltd.
NCLT Mumbai Dissolves BSE Institute of Research Development & Innovation After Voluntary Liquidation
Case Title : BSE Institute of Research Development & Innovation Private Limited
Case Number : CP (IB) No. 666/MB-IV/2025
CITATION : 2026 LLBiz NCLT (MUM) 720
The National Company Law Tribunal (NCLT) in Mumbai on Thursday ordered the dissolution of BSE Institute of Research Development & Innovation Private Limited after finding that its voluntary liquidation had been completed in accordance with law and that the company's affairs had been completely wound up.
NCLT Mumbai Dismisses Insolvency Plea Against Ganesh Benzoplast Over Disputed Corporate Guarantee
Case Title : UC Inclusive Credit Private Limited Vs. Ganesh Benzoplast Limited
Case Number : C.P.(IB)/1388(MB)2025
CITATION : 2026 LLBiz NCLT (MUM) 721
The National Company Law Tribunal (NCLT) in Mumbai has dismissed an insolvency plea filed by UC Inclusive Credit Pvt. Ltd. against Ganesh Benzoplast Ltd. It held that the application could not be admitted because the corporate guarantee relied upon by the lender is under challenge in multiple civil and criminal proceedings involving allegations of fraud and forgery.
A coram comprising Judicial Member Sushil Mahadeorao Kochey and Technical Member Sameer Kakar dismissed the plea seeking initiation of the corporate insolvency resolution process over an alleged default of about ₹6.25 crore.
Case Title : DCB Bank Ltd Vs Kalka Home Developers Pvt. Ltd
Case Number : IB-496/ND/2023 IA-32/ND/2025, IA-3749/ND/2025, IA-5128/ND/2025
CITATION : 2026 LLBiz NCLT(DEL) 722
The New Delhi Bench of the National Company Law Tribunal (NCLT) on 3 July held that a resolution plan cannot provide an operational creditor, including the government, an amount lower than the liquidation value payable to it under the Insolvency and Bankruptcy Code, 2016 (IBC). Judicial Member Ashok Kumar Bhardwaj and Technical Member Atul Chaturvedi rejected the plan submitted for Kalka Home Developers Pvt. Ltd., observing that the plan failed to comply with Section 30(2)(b) of the IBC, which requires operational creditors to receive at least the amount they would have received in liquidation
Case Title : Canara Bank v. KGOC Terminals Private Limited
Case Number : RCP (IBC)/1/7/AMR/2026 (Old Case CP (IB)/16/7/AMR/2023)
CITATION : 2026 LLBiz NCLT(AMR) 724
The National Company Law Tribunal (NCLT), Amaravati Bench, has admitted Canara Bank's insolvency plea against KGOC Terminals Private Limited. It held that the company could not rely on the COVID-19 suspension on insolvency filings because it had already defaulted on its loan repayments before that period began. The later classification of the loan account as a non-performing asset (NPA) did not change that position.
NCLT Kochi Recalls Oral Order Minutes After Pronouncement Over Undisclosed Facts
Case Title : CA Rajmohan R(RP) in the matter of M/s Air Travel Enterprises India Ltd
Case Number : IA(IBC)/313/KOB/2026 in CP(IBC)/33/KOB/2023
CITATION : 2026 LLBiz NCLT(KOC) 725
The National Company Law Tribunal (NCLT) at Kochi recently recalled its oral order allowing withdrawal of the corporate insolvency resolution process (CIRP) against Air Travel Enterprises India Limited. The tribunal did so within five minutes of pronouncing the order, after the Resolution Professional (RP) brought to its notice material facts regarding the Committee of Creditors (CoC) that had not been disclosed earlier.
NCLT Ahmedabad Directs Moeving To Return 124 EVs Owned By Gensol EV Lease During Insolvency Process
Case Title : Keshav Khaneja RP of Gensol EV Lease Limited Vs Moeving Urban TechnologiesPvt. Ltd
Case Number : IA/I181(AHM)2026 In C.P.(IB)/199(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 728
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 10 July held that vehicles owned by a Corporate Debtor cannot be retained by a third party merely because they were handed over under a contractual arrangement. A Bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma partly allowed the application filed by the Resolution Professional (RP) of Gensol EV Lease Limited and directed Moeving Urban Technologies Pvt. Ltd. to return 124 electric vehicles, along with registration certificates, insurance documents, permits, keys, chargers and accessories, within 15 days.
NCLT Delhi Orders Dissolution of Cross-Border Payments Company Paysend India
Case Title : PAYSEND INDIA PRIVATE LIMITED
Case Number : CP (IB) No. 296/ND/2025
CITATION : 2026 LLBiz NCLT(DEL) 729
The Delhi Bench of the National Company Law Tribunal (NCLT) has ordered the dissolution of cross-border payments company Paysend India Private Limited after finding that its affairs had been completely wound up and its assets fully liquidated The order was passed by the bench of Acting President Bachu Venkat Balaram Das and Technical Member Yogendra Kumar Singh. Paysend India Private Limited was incorporated on July 25, 2022 as a private limited company with its registered office at Nehru Place, South Delhi. The company operated in money transfers, remittances, merchant acquiring, prepaid payment instruments, and multi‑currency digital wallets.
Case Title : D Manuel Anand
Case Number : CP(IBC)/199(CHE)2025
CITATION : 2026 LLBiz NCLT(CHE) 730
The National Company Law Tribunal (NCLT) at Chennai has held that a personal guarantor's withdrawal of an earlier insolvency application after securing a One Time Settlement (OTS) for one loan account does not, by itself, bar the filing of a fresh insolvency application in respect of continuing liabilities. A coram of Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy was considering a petition filed by D. Manuel Anand, a personal guarantor to Servo Craft HR Solutions Private Limited, under Section 94(1) of the IBC seeking initiation of the insolvency resolution process against himself.
Case Title : Swapnil Jain, Resolution Professional of Bengal EMTA Coal Mines Limited v. Bengal EMTA Coal Mines Limited
Case Number : IA (IBC) No. 602/KB/2023 in CP (IB) No. 1699/KB/2018)
CITATION : 2026 LLBiz NCLT(KOL) 731
The Kolkata Bench of the National Company Law Tribunal (NCLT) has recently refused to approve the resolution plan submitted by successful resolution applicant Sarika Maiwall for Bengal EMTA Coal Mines Limited. It found that the plan proposed a payout of just ₹86 lakh against admitted claims of nearly ₹299 crore and appeared to extinguish substantial statutory liabilities despite pending proceedings before the Supreme Court.
NCLT Kochi Dismisses Union Bank's Plea To Withdraw CIRP, Says Section 12A Procedure Is Mandatory
Case Title : Union Bank of India v. M/s Air Travel Enterprises India Ltd
Case Number : IA(IBC)/313/KOB/2026 in CP(IB)/33/KOB/2023
CITATION : 2026 LLBiz NCLT(KOC) 736
On Tuesday, 21 July, the Kochi Bench of the National Company Law Tribunal (NCLT) held that once a corporate insolvency resolution process (CIRP) is admitted, it cannot be withdrawn merely on the basis of a bilateral settlement between the financial creditor and the corporate debtor without following the statutory procedure under the Insolvency and Bankruptcy Code (IBC). A Bench of Judicial Member Vinay Goel and Technical Member Ravichandran Ramasamy dismissed Union Bank of India's application seeking withdrawal of the CIRP against Air Travel Enterprises India Limited and imposed costs of Rs. 1 lakh on the Bank.
Rights Of Creditor In CIRP Are Determined By The IBC, Not The Quantum Of Claim: NCLT Chandigarh
Case Title : Rajeev Bhambri Vs Mohit Chawla
Case Number : I.A.(I.B.C)/1221(CH)2025 In CP (IB) No. 248/Chd/Chd/2019
CITATION : 2026 LLBiz NCLT(CHA) 737
The Chandigarh National Company Law Tribunal (NCLT) on 10 July held that a creditor cannot seek disclosure of a resolution plan pending approval merely because it has a substantial claim. The Insolvency and Bankruptcy Code, 2016 (IBC) determines a creditor's rights in a Corporate Insolvency Resolution Process (CIRP), and not the quantum of its dues. A Bench of Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal dismissed the application filed by Resolution Professional (RP) Rajeev Bhambri seeking disclosure of the resolution plan of Chandigarh Overseas Private Limited, holding that Bhambri, classified as an “Other Creditor – Related Party”, could not claim access to the plan under the IBC.
NCLT Indore Holds Resolution Professional Cannot Revive Lease Terminated By CoC
Case Title : Kuldeep Tank Vs Vatsal Acharya
Case Number : IA/111(MP)2026 in CP(IB)/16(MP)2024
CITATION : 2026 LLBiz NCLT(IND) 738
The Indore Bench of the National Company Law Tribunal (NCLT) on 7 July held that an unregistered lease deed cannot create valid rights over the Corporate Debtor's property and that a Resolution Professional (RP) cannot revive a lease arrangement that the Committee of Creditors (CoC) has already decided to terminate. The Bench of Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta directed Vatsal Acharya to vacate the factory premises of Shree Uttam Food Products, holding that he occupied the premises without valid authority.
NCLT Kochi Holds Kerala Trade Centre Project; Developmental Rights Form Part Of KCCI's CIRP Assets
Case Title : Jossy Steephen Kattur v. Cherupushpam Films Private Limited and Ors
Case Number : IA(IBC)/142/KOB/2026 in CP(IB)/33/KOB/2021
CITATION : 2026 LLBiz NCLT (KOC) 740
The National Company Law Tribunal (NCLT), Kochi, has held that the Kerala Trade Centre project and the development and allied rights vested in Kerala Chamber of Commerce and Industries (KCCI) under a Joint Development Agreement (JDA) form part of the company's asset base during its Corporate Insolvency Resolution Process (CIRP). It also directed the landowner, Cherupushpam Films Private Limited, to cooperate in implementing the resolution plan.
Case Title : ROBIN DAHIYA Vs ABHIMANYU MITTAL
Case Number : IA 39 of 2026 In CP(IB) No. 125/Chd/Hry/2021
CITATION : 2026 LLBiz NCLT(CHA) 741
The Chandigarh Bench of the National Company Law Tribunal (NCLT) on 1 July held that a suspended director has the locus to bring alleged violations of the Insolvency and Bankruptcy Code, 2016 (IBC) and the Corporate Insolvency Resolution Process (CIRP) Regulations before the NCLT, but cannot question the commercial wisdom of the Committee of Creditors (CoC). A Bench comprising Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal dismissed an application filed by Robin Dahiya, suspended director of Hygiene Feeds & Farms Pvt. Ltd., seeking rejection of the Resolution Plan approved by the CoC, after finding no statutory violations or procedural irregularities.
NCLT Chandigarh Rejects Department's ₹975.56 Cr Claim Filed 1305 Days Late In Gupta Builders CIRP
Case Title : Dy Commissioner of Income Tax Vs Mukesh Gupta
Case Number : IA(IBC) No. 97/2026 In CP (IB) No. 237/Chd/Chd/2021
CITATION : 2026 LLBiz NCLT(CHA) 745
The Chandigarh National Company Law Tribunal (NCLT) on 10 July held that the Income Tax Department cannot seek condonation of an extraordinary delay to introduce claims after approval of a Resolution Plan, as such belated claims would disturb the finality of the Corporate Insolvency Resolution Process (CIRP). A Bench comprising Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal dismissed the application filed by the Deputy Commissioner of Income Tax seeking condonation of a 1305-day delay in filing claims worth Rs. 975.56 crore against Gupta Builders and Promoters Pvt. Ltd.
NCLT Mumbai Dispenses With JSW Steel Unsecured Creditors' Meeting In Piombino Steel Merger
Case Title : Piombino Steel Limited and JSW Steel Limited
Case Number : 02nd July 2026.
CITATION : 2026 LLBiz NCLT (MUM) 747
The National Company Law Tribunal (NCLT), Mumbai, has recently dispensed with the meeting of unsecured creditors of JSW Steel Limited in its proposed amalgamation with its subsidiary, Piombino Steel Limited. It, however, directed the company to issue notices to unsecured creditors with outstanding balances exceeding ₹50 lakh, informing them that they may file objections before the Tribunal within 30 days.
NCLT Chandigarh Upholds Rejection Of ARCIL's ₹3,482 Crore Claim Against JCT Limited As Time-Barred
Case Title : Asset Reconstruction Company (India) Limited Vs Umesh Garg & CoC
Case Number : I.A. No.83 of 2026 In CP(IB) No. 325/Chd/Pb/2023
CITATION : 2026 LLBiz NCLT(CHA) 748
The National Company Law Tribunal (NCLT) in Chandigarh has recently refused to admit Asset Reconstruction Company (India) Limited's claim of ₹3,482 crore in the insolvency process of JCT Limited. Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal ruled the debt was time‑barred. “The claim, even if computed from the original invocation in January 2002 or the subsequent default in April 2011, is barred by limitation,” the bench said.
Case Title : Sai Educare Private Limited v. Vensysco Technologies Limited
Case Number : IA No. 108/JPR/2026
CITATION : 2026 LLBiz NCLT(JAI) 749
The National Company Law Tribunal (NCLT) at Jaipur has held that alleged defects in the certified copy of a Board Resolution, including objections that it did not disclose the date of the Board meeting or carried mechanically reproduced signatures, do not invalidate an insolvency application where the Operational Creditor has, in substance, authorized the initiation of proceedings. A coram of Judicial Member Reeta Kohli and Technical Member Kavita Bhatnagar was considering an interlocutory application filed by Sai Educare Private Limited, the corporate debtor, seeking rejection of the Section 9 petition filed by Vensysco Technologies Limited.
IRP, RP Cannot Authorise Recovery Barred By IBC Moratorium: NCLT Indore
Case Title : Prawincharan Prafulcharan Dwary Vs Bank of India
Case Number : IA/42(MP) 2021 in TP 162 of 2019 [CP(IB) 18 of 2017
CITATION : 2026 LLBiz NCLT(IND) 750
The Indore bench of the National Company Law Tribunal (NCLT) has recently held that Bank of India violated the IBC moratorium by appropriating ₹16.49 crore from a company's cash credit account during its Corporate Insolvency Resolution Process (CIRP). The amount was used to discharge letters of credit (LCs) issued before the insolvency commencement date. Holding that the bank had recovered its own pre-CIRP dues during the moratorium, the tribunal directed it to reverse the appropriation. It was also directed to credit the amount to the corporate debtor's account within four weeks.
NCLT Delhi Rejects APS Infra Resolution Plan, Says Resolution Applicant Can't Retain PUFE Recoveries
Case Title : Praveen Kumar Garg Vs APS Infra Engineers Private Limited
Case Number : I.A. No. 65/ND/2025 IN CP(IB)-556/ND/2023
CITATION : 2026 LLBiz NCLT(DEL) 751
The Delhi bench of the National Company Law Tribunal (NCLT) has held that a resolution plan allowing the Successful Resolution Applicant (SRA) to retain recoveries from avoidance (PUFE) transactions is contrary to the CIRP Regulations. Rejecting the resolution plan submitted by SPG Infra Projects Pvt. Ltd. for APS Infra Engineers Pvt. Ltd., the bench ordered the company's liquidation. "When we talk of distribution, the understanding would be that the same should be distributed amongst the creditors.
Could the intention of Regulation be that the proceeds could be retained by the SRA, there could be such provision in the Regulation or the Regulation could say that the Plan will provide that how the proceed would be dealt with," the court observed while interpreting Regulation 38(2)(d) of the CIRP Regulations.
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).