SUPREME COURT
Case Title : CA RAMCHANDRA DALLARAM CHOUDHARY Versus ADANI INFRASTRUCTURE AND DEVELOPERS PRIVATE LIMITED
Case Number : DIARY NO. 5988 OF 2026
The Supreme Court on Monday declined to interfere with a National Company Law Appellate Tribunal (NCLAT) order directing Adani Infrastructure & Developers Pvt Ltd to pay 12% interest on delayed payment of ₹255 crore. The amount formed part of the consideration for its ₹325-crore purchase of a land parcel belonging to Anil Ltd, which is under liquidation. A bench of Justices Dipankar Datta and Satish Chandra Sharma dismissed an appeal filed by the liquidator. The liquidator had challenged the NCLAT's decision to waive interest for a portion of the delay period.
Case Title : COSMIC CRF LIMITED VERSUS MYOTIC TRADING PRIVATE LIMITED & ORS.
Case Number : Civil Appeal Nos.4266-4267/2026
CITATION : 2026 LLBiz SC 215
The Supreme Court has recently held that once a company has been resolved under an approved insolvency resolution plan and all remaining dues stand extinguished, those dues cannot be "resurrected" to assess the eligibility of a prospective resolution applicant a year later. It set aside orders that had declared Cosmic CRF Ltd ineligible to participate in the corporate insolvency resolution process of Amzen Transportation Industries Pvt. Ltd.
Supreme Court Upholds Admission of Insolvency Plea Filed by Ingram Micro Against Bathla Teletech
Case Title : BATHLA TELETECH PRIVATE LIMITED vs INGRAM MICRO INDIA PRIVATE LIMITED
Case Number : Civil Appeal No(s). 8188/2026
CITATION : 2026 LLBiz SC 219
The Supreme Court has refused to interfere with an NCLAT ruling that Bathla Teletech Pvt Ltd's claims relating to unsold iPhone 8 inventory and backend discounts did not constitute a genuine pre-existing dispute capable of defeating an insolvency application. The order leaves intact insolvency proceedings against the electronics reseller at the instance of Ingram Micro India Pvt Ltd. A Bench of Justices Dipankar Datta and Satish Chandra Sharma dismissed an appeal filed by Bathla Teletech, holding that no substantial question of law arose from the NCLAT's judgment.
Case Title : THRANI INDUSTRIES LTD VERSUS KNK MANAGEMENT
Case Number : Diary No(s). 61278/2025
CITATION : 2026 LLBiz SC 220
The Supreme Court has refused to entertain an appeal by Thrani Industries Ltd against insolvency proceedings initiated against it, holding that the company's explanation for a 166-day delay in refiling the case was nothing more than a "lame excuse". A Bench of Justices Dipankar Datta and Satish Chandra Sharma dismissed the appeal after finding that Thrani Industries had failed to show any sufficient cause for the prolonged delay.
Case Title : CA RAMCHANDRA DALLARAM CHOUDHARY VERSUS ADANI INFRASTRUCTURE AND DEVELOPERS PRIVATE LIMITED
Case Number : D.No.5988/2026
CITATION : 2026 LLBiz SC 224
The Supreme Court has recently held that litigants cannot circumvent the Insolvency and Bankruptcy Code's strict limitation regime by filing defective appeals to save the limitation and curing defects later at their convenience. A bench of Justices Dipankar Datta and Satish Chandra Sharma posed the following question: “Can or should a litigant be permitted to circumvent the rigours of limitation by filing a defective appeal as a device to save limitation and, thereafter, to opt to cure the notified defects at leisure? Can or should this Court countenance such a practice?”
Case Title : UNION OF INDIA AND ANR. Versus ARCELORMITTAL NIPPON STEEL INDIA LIMITED FORMERLY KNOWN AS ESSAR STEEL INDIA
Case Number : Diary No. 24062-2026
The Supreme Court on Monday issued notice on the Union government's challenge to a Gujarat High Court judgment concerning the transfer of Essar Steel-related proceedings from the National Company Law Tribunal (NCLT) Ahmedabad to Mumbai. A bench of Chief Justice Surya Kant and Justice V. Mohana tagged the matter with connected cases raising similar issues and posted it for hearing on July 29.
Case Title : VOIZZIT TECHNOLOGY PVT. LTD. AND ANR. vs. CLAUDIA Z. SPRINGER AND ORS.
Case Number : Diary No. - 37048/2026
Two companies claiming rights over BYJU'S US subsidiaries, Epic Creations Inc. and Tangible Play Inc., have approached the Supreme Court against a Kerala High Court judgment that removed a US bankruptcy trustee from a commercial suit filed in Ernakulam.
Supreme Court Issues Notice On Plea Against NCLAT Relief To Former Deccan Chronicle Promoter
Case Title : L AND T FINANCE LIMITED Versus T. VENKATRAM REDDY AND ANR.
Case Number : C.A. No. 8371/2026
The Supreme Court on Thursday issued notice in a plea filed by L&T Finance Ltd challenging an NCLAT order that set aside bankruptcy proceedings against former Deccan Chronicle Holdings Limited promoter and personal guarantor T. Venkatram Reddy.
The bankruptcy proceedings had been set aside by NCLAT on April 2, 2026, after the appellate tribunal on the same date quashed the underlying personal insolvency proceedings initiated against Reddy under Section 95 of the Insolvency and Bankruptcy Code, holding them to be barred by limitation.
Case Title : VOIZZIT TECHNOLOGY PVT LTD vs THE DIRECTOR CENTRAL BUREAU OF INVESTIGATION
Case Number : DIARY NO. 37706 OF 2026
Two companies linked to the BYJU'S insolvency dispute, Voizzit Technology Pvt Ltd and Voizzit Information Technology LLC, have approached the Supreme Court. They are challenging a Kerala High Court judgment that refused to direct the CBI, Enforcement Directorate (ED) and National Investigation Agency (NIA) to investigate alleged irregularities in the insolvency resolution process of BYJU'S parent company, Think & Learn Pvt. Ltd.
Case Title : PRAGYA JHUNJHUNWALA VERSUS STATE BANK OF INDIA AUTHORISED REPRESENTATIVE & ANR
Case Number : SPECIAL LEAVE PETITION (CIVIL) Diary No(s). 35986/2026
CITATION : 2026 LLBiz SC 230
The Supreme Court on Wednesday allowed India Power Corporation Ltd.'s shareholder Pragya Jhunjhunwala to approach the National Company Law Appellate Tribunal (NCLAT) Chairperson for consideration of a reference arising from a split verdict on applications seeking an interim stay of the company's admission into insolvency proceedings
HIGH COURT
IBC Resolution Plan Acceptance Is “Settlement” Under Section 16 Court Fees Act: Delhi High Court
Case Title : SAINIK INDUSTRIES PVT. LTD Vs INDIAN SUGAR MANUFACTURING COMPANY LIMITED
Case Number : CS(COMM) 474/2019
CITATION : 2026 LLBiz HC (DEL) 572
On 1 June, the Delhi High Court held that acceptance of claims under a resolution plan in insolvency proceedings amounts to a “settlement” within the meaning of Section 16 of the Court Fees Act, 1870, thereby entitling a plaintiff to refund of court fee upon withdrawal of the suit. Justice Subramonium Prasad allowed Sainik Industries Pvt. Ltd. to withdraw its recovery suit against Indian Sugar Manufacturing Company Ltd. and directed refund of the entire court fee.
Madhya Pradesh High Court Bars Post-Resolution Proceedings Against Corporate Debtor's “New Avatar”
Case Title : Pushp Ratna Realty Pvt Ltd v. Kamal Nayan Mishra and Ors
Case Number : Writ Petition No. 19362 of 2026
CITATION : 2026 LLBiz HC(MP) 41
The Madhya Pradesh High Court on 27 May held that once a resolution plan is approved under the Insolvency and Bankruptcy Code, 2016, the corporate debtor in its “new avatar” cannot face pre-resolution claims or proceedings that stand extinguished under the approved plan. Justice Jai Kumar Pillai reiterated that the insolvency framework ensures a “clean slate” to the successful resolution applicant and allowed the petition filed by Pushp Ratna Realty Pvt Ltd, whose resolution plan the NCLT, Indore had approved.
Bombay HC Orders Release Of MPID-Attached Property After Approval Of Steel Company's Resolution Plan
Case Title : Dwarka Iron Industries Pvt. Ltd. Versus Competent Authority (under MPID Act, 1999) & Anr
Case Number : WRIT PETITION NO. 5272 OF 2026
CITATION : 2026 LLBiz HC (BOM) 311
Case Title : K.N Marzook v. Dhanlaxmi Bank Limited and Ors
Case Number : WP(C) No. 97 of 2025
CITATION : 2026 LLBiz HC(KER) 94
On 25 May, the Kerala High Court held that it cannot entertain a writ petition challenging insolvency proceedings initiated before the National Company Law Tribunal (NCLT), New Delhi, against a personal guarantor merely because the underlying credit facilities were availed in Kerala, since territorial jurisdiction under the Insolvency and Bankruptcy Code depends on the location of the corporate debtor's registered office.
Bombay High Court Quashes Awards Against Guarantors Despite IBC Moratorium On Debt
Case Title : Ajeet Madhukar Mulay vs Abhyudaya Co-Operative Bank Limited & Ors
Case Number : COMMERCIAL ARBITRATION PETITION NO. 843 OF 2024
CITATION : 2026 LLBiz HC (BOM) 321
The Bombay High Court on Tuesday held that arbitral awards resulting in enforcement of a debt that has become temporarily unenforceable due to a statutory moratorium run contrary to the fundamental policy of Indian law. The court consequently quashed two awards obtained by Abhyudaya Co-operative Bank against guarantors of insolvency resolution bound Nirmangold Alloys Pvt. Ltd. and Nirmangold Plasttech Pvt Ltd.
Case Title : BPL Limited v. National Company Law Tribunal Kochi Bench
Case Number : WP(C) No. 19348 of 2026
CITATION : 2026 LLBiz HC(KER) 98
The Kerala High Court has held that the National Company Law Tribunal (NCLT) can permit additional objections in insolvency proceedings. It cannot reject such requests on the ground that there is no provision under the Insolvency and Bankruptcy Code or the NCLT Rules to entertain them.
Case Title : Voizzit Technology Pvt Ltd and Anr v. The Director and Ors
Case Number : WP(Crl) No. 74 of 2026
CITATION : 2026 LLBiz HC(KER) 99
The Kerala High Court has recently dismissed a plea seeking a court-monitored investigation by the Central Bureau of Investigation (CBI), Enforcement Directorate (ED), and National Investigation Agency (NIA) into allegations connected with the corporate insolvency resolution process of Think and Learn Private Limited (BYJU'S).
Case Title : MR K C M GOWDA Vs ADITYA BIRLA CAPITAL LIMITED& ACE EMBEDDED INTENSIVE CARE UNITS PRIVATE LIMITED
Case Number : WRIT PETITION NO. 16159 OF 2026
CITATION : 2026 LLBiz HC (KAR) 82
The Karnataka High Court has held that the National Company Law Tribunal (NCLT) is entitled to examine whether an applicant possesses the requisite locus standi to invoke the personal guarantor insolvency framework before permitting the process to proceed.
Case Title : ANUJ GOYAL vs NATIONAL COMPANY LAW TRIBUNAL AND ORS. T HROUGH REGISTRAR
Case Number : W.P.(C) 8240/2026
CITATION : 2026 LLBiz HC (DEL) 628
The Delhi High Court has recently refused to issue directions to the National Company Law Tribunal (NCLT) for urgent listing of a homebuyer's transfer plea in an ongoing insolvency proceeding. The court observed that such directions cannot be issued in exercise of its writ jurisdiction. A vacation bench of Justice Tejas Karia dismissed a petition filed by homebuyer Anuj Goyal and imposed costs of ₹25,000, payable to the Delhi High Court Bar Clerks' Association within two weeks.
Case Title : Ferro Alloys Corporations Ltd.-versus- Sub Divisional Magistrate, Champua & Anr.
Case Number : CRLMC No. 5590 of 2025
CITATION : 2026 LLBiz HC (ORI) 21
The Orissa High Court has recently quashed criminal proceedings against Ferro Alloys Corporation Ltd over alleged environmental law violations. It held that continuation of the prosecution was not sustainable as the violations happened before the insolvency resolution. Justice Dr. Sanjeeb K. Panigrahi also noted that offences under Section 15 of the Environment (Protection) Act, 1986 have since been decriminalised. They have been replaced with a regime of civil penalties.
Case Title : Darshan Mandir Co-operative Housing Society Limited V/s. District Deputy Registrar, Co-operative Society, Mumbai (4) and others
Case Number : WRIT PETITION NO. 16318 of 2025
CITATION : 2026 LLBiz HC (BOM) 352
A housing society's application for deemed conveyance of land and building cannot be put on hold merely because insolvency proceedings are pending against a developer, the Bombay High Court has held. The court ruled that a moratorium under the Insolvency and Bankruptcy Code (IBC) does not prevent authorities from deciding such applications under the Maharashtra Ownership Flats Act (MOFA). Justice Sandeep V. Marne set aside an order that had rejected a deemed conveyance application filed by Darshan Mandir Co-operative Housing Society on the ground that Corporate Insolvency Resolution Process (CIRP) proceedings were pending against Vas Infrastructure Ltd.
Case Title : Pinax Paper Mills Private Limited -Vs.- The State of West Bengal & Anr.
Case Number : WPA 10983 of 2025
CITATION : 2026 LLBiz HC (CAL) 158
The Calcutta High Court has recently held that West Bengal State Electricity Distribution Company Limited (WBSEDCL) could not insist that Pinax Paper Mills Private Limited pay pre-CIRP Late Payment Surcharge (LPSC) before granting a fresh electricity connection after approval of the company's resolution plan
NCLAT
NCLAT Delhi Rules Unregistered Development Agreement Cannot Defeat CIRP Rights Over Ananta Residency
Case Title : Phoenix ARC Pvt. Ltd Vs Halwasiya Developments Pvt. Ltd. & Ors
Case Number : Company Appeal (AT) (Insolvency) 164-166/2025, 266-268/2025, 295/2025 & 365/2025
CITATION : 2026 LLBiz NCLAT 248
he New Delhi Bench of the National Company Law Appellate Tribunal on 25 May partly allowed a batch of appeals concerning the Ananta Residency project, holding that Halwasiya Developments Pvt. Ltd. could not claim ownership or exclusive rights under an unregistered Development Agreement executed in 2018. Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra noted that the project continued to form part of the Corporate Insolvency Resolution Process (CIRP) despite the 2014 mortgage and initiation of insolvency proceedings against the Corporate Debtor.
NCLAT New Delhi Orders Fresh Auction In MBSL Case, Holds JFC Finance Excluded Over BAANKNET Glitch
Case Title : JFC FINANCE (INDIA) LTD. Vs ARVIND GARG & Ors
Case Number : Company Appeal (AT) (Insolvency) 1820/2025
CITATION : 2026 LLBiz NCLAT 249
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 29 May allowed the appeal filed by JFC Finance (India) Ltd., holding that the bidder was wrongfully excluded from the e-auction process due to a possible technical glitch on the BAANKNET platform and directing a fresh auction with a reserve price of Rs 54 crore.
NCLAT Holds Appeal E-Filed At 9 PM On Last Condonable Day Within Limitation
Case Title : Acrow Realcon Pvt. Ltd. & Ors. v. Union Bank of India & Ors.
Case Number : I.A. Nos. 2936, 2937, 2938 & 2939 of 2026 in Company Appeal (AT) (Insolvency) Nos. 755-758 of 2026
CITATION : 2026 LLBiz NCLAT 251
The National Company Law Appellate Tribunal (NCLAT) in Delhi has held that an insolvency appeal filed electronically at 9 PM on the last day of the condonable period cannot be treated as time-barred merely because it was filed after the tribunal's working hours.
Going Concern Sale Does Not Transfer Subsidiaries Outside Liquidation Estate: NCLAT
Case Title : RAGHAVA SQUARE PRIVATE LIMITED Vs IVRCL LIMITED & Ors
Case Number : Company Appeal (AT) (Insolvency) 93/2025 & 96/2025, 309/2024, 310/2024
CITATION : 2026 LLBiz NCLAT 252
he National Company Law Appellate Tribunal (NCLAT) in Chennai has recently held that a purchaser of a corporate debtor sold as a going concern in liquidation cannot claim rights over its subsidiaries, joint ventures, or associate entities merely because they belong to the same corporate group. The tribunal ruled that such assets fall outside the liquidation estate and do not automatically pass to the successful bidder.
NCLAT Upholds NCLT Order Asking CoC To Consider Prior Judicial Observations On RP Before Appointment
Case Title : TSN Raja
Case Number : Company Appeal (AT) (Insolvency) 264/2026 & 265/2026
CITATION : 2026 LLBiz NCLAT 253
The National Company Law Appellate Tribunal (NCLAT) in Chennai has refused to interfere with an order directing the Committee of Creditors (CoC) to consider adverse observations made against an insolvency professional in an earlier proceeding. The observations were to be considered before proceeding with approval of his appointment as Resolution Professional in two corporate insolvency cases. A bench of Justice Sharad Kumar Sharma and Technical Member Jatindranath Swain observed that the National Company Law Tribunal (NCLT) Hyderabad's direction was only precautionary in nature. It did not finally determine any rights.
Insolvency Professional Can Continue Existing Assignments After Attaining Age 70: NCLAT
Case Title : Chavva Naga Sampathi Tayaru Vs Sri Ananda Lakshmi Narasimha Industries India Pvt Ltd & Central Bank of India
Case Number : Company Appeal (AT) (Insolvency) 261/2026 & 260/2026
CITATION : 2026 LLBiz NCLAT 254
The National Company Law Appellate Tribunal (NCLAT) at Chennai has held that an insolvency professional can continue handling assignments already entrusted to him even after turning 70 years of age, the upper age limit for insolvency professionals, if the Authorisation for Assignment (AFA) expires during the course of those assignments. LLP Legal Services.
Case Title : MR. RAIZ BASHIRUDEEN Vs TATA CAPITAL FINANCIAL SERVICES LIMITED
Case Number : Company Appeal (AT) (Insolvency) 400/2024
CITATION : 2026 LLBiz NCLAT 257
The National Company Law Appellate Tribunal (NCLAT) at Chennai has recently held that insolvency proceedings against a personal guarantor cannot be invalidated solely because a separate deed of guarantee has not been placed on record.
NCLAT Upholds NCLT Order Allowing Liquidator To Challenge JDA, GPA Termination Before Civil Court.
Case Title : Sri Brindhavan Brick Works Vs DiMax Restructuring Private Limited
Case Number : Company Appeal (AT) (Insolvency) 275/2026
CITATION : 2026 LLBiz NCLAT 258
The National Company Law Appellate Tribunal (NCLAT) at Chennai has upheld an order allowing the liquidator of a company under liquidation to approach a civil court to challenge the unilateral termination of a Joint Development Agreement (JDA) and cancellation of a General Power of Attorney (GPA) relating to the Manapakkam project.
Case Title : Raychem RPG Pvt Ltd Vs Soura Natural Energy Solutions India Pvt Ltd
Case Number : Company Appeal (AT) (Insolvency) 180/2026
CITATION : 2026 LLBiz NCLAT 255
On 10 June, the Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) allowed an appeal filed by Raychem RPG Pvt Ltd, set aside the order of the National Company Law Tribunal (NCLT), Kochi Bench, and directed grant of a final opportunity to rectify defects, subject to payment of costs of Rs. 50,000.
NCLAT Stays Insolvency Proceedings Against Vikram Solar
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 259
The National Company Law Appellate Tribunal (NCLAT) on Wednesday stayed the National Company Law Tribunal's (NCLT) order admitting insolvency proceedings against Vikram Solar Ltd. It also directed the company to deposit ₹91.98 lakh pending further hearing.
Anil Ambani Appeals NCLT Order Admitting SBI's Personal Guarantor Insolvency Plea
Case Title : Anil Dhirajlal Ambani Vs State Bank of India & Anr.
Case Number : Company Appeal (AT) (Ins) No. 1088 of 2026
On Wednesday, Industrialist Anil Ambani approached the Delhi bench of the National Company Law Appellate Tribunal (NCLAT) against the personal insolvency proceedings initiated by the the State Bank of India (SBI).
Jet Airways Workmen's PF, Gratuity Dues Must Be Paid, Fall Outside Liquidation Estate: NCLAT
Case Title: State Bank of India & Ors vs Manoj Kumar Das & Ors
Case Number: Company Appeal (AT) (Insolvency) No. 419 & 420 of 2026
CITATION: 2026 LLBiz NCLAT 260
NCLT
Case Title : SREI Equipment Finance Limited v. Kitply Industries Limited
Case Number : CP(IB)/8/GB/2024
CITATION : 2026 LLBiz NCLT(GUA) 527
The National Company Law Tribunal (NCLT) at Guwahati has held that insolvency proceedings cannot be admitted mechanically where serious disputes concerning the genuineness and enforceability of the underlying debt are already pending consideration before another forum. A bench of Judicial Member Rammurti Kushawaha and Technical Member Yogendra Kumar Singh observed, “Where the creditor itself alleges in separate proceedings that the transaction is fraudulent and constitutes wrongful trading, this Tribunal cannot mechanically proceed on the assumption that a clear and undisputed 'financial debt' exists. The issue is not merely about computation of dues but concerns the very substratum and legitimacy of the transaction itself.”
NCLT Delhi Rejects Jiostar's Insolvency Plea Against Legends League Cricket Promoter
Case Title : Jiostar India Pvt. Ltd. Vs Absolute Legends Sports Private Limited
Case Number : C.P. IB/667/ND/2025
CITATION : 2026 LLBiz NCLT(DEL) 529
The Delhi bench of the National Company Law Tribunal (NCLT) has recently dismissed an insolvency plea filed by Jiostar India Pvt. Ltd. against Absolute Legends Sports Pvt. Ltd., the company behind the Legends League Cricket Masters T20 tournament. The tribunal held that Jiostar failed to establish that its claim for unpaid commentary-production charges and reimbursement of Ministry of Information and Broadcasting (MIB) fees under agreements relating to the broadcast rights of the Legends League Cricket tournament qualified as an operational debt.
Case Title : Ashok Arora Vs Mothers Pride Education Personna Pvt. Ltd & Presidium Educational Institution Pvt. Ltd.
Case Number : I.A. NO. 6318 OF 2025 IN C.P. IB 559 (ND) OF 2021 & I.A. NO. 6314 OF 2025 IN C.P. IB 638 (ND) OF 2021
CITATION : 2026 LLBiz NCLT(DEL) 530
On 1 June, the New Delhi Bench of the National Company Law Tribunal (NCLT) ended the insolvency proceedings against Presidium Educational Institution Pvt. Ltd. and Mothers Pride Education Personna Pvt. Ltd., after finding that the process had gone beyond the 330-day legal limit, suffered from irregularities, and did not result in any resolution plan. Judicial Member Manni Sankariah Shanmuga Sundaram and Technical Member Atul Chaturvedi disposed of the CIRPs and recalled the admission orders and withdrew the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016
Case Title : UCO Bank v. Mrs. Mallika Barooah
Case Number : CP(IB)/13/GB/2025
CITATION : 2026 LLBiz NCLT(GUA) 531
The National Company Law Tribunal (NCLT) at Guwahati has rejected UCO Bank's insolvency application seeking initiation of proceedings against Mallika Barooah in relation to dues claimed from Berial Engineers Private Limited. The tribunal held that the bank failed to establish invocation of the guarantee and that the application was barred by limitation. A bench of Judicial Member Rammurti Kushawaha and Technical Member Yogendra Kumar Singh passed the order while dealing with the bank's application against Barooah. The bank claimed that she was a personal guarantor to credit facilities extended to the company.
Redirecting RP To MCA Website Does Not Constitute Cooperation Under IBC: NCLT Indore
Case Title : Teena Saraswat Pandey Vs Aditya Bhatnagar
Case Number : IA/224(MP)2025 in CP(IB)/17(MP)2024
CITATION : 2026 LLBiz NCLT(IND) 533
Merely directing a Resolution Professional (RP) to obtain information from public portals such as the MCA website and responding with "refer MCA website" or "not applicable" does not amount to cooperation during the insolvency resolution process, the National Company Law Tribunal (NCLT) at Indore has reiterated while directing the suspended management of Xyron Technologies Limited to furnish records sought by the RP.
NCLT Hyderabad Flags Nearly Ten-Fold Increase In Admitted Claim In CIRP, Orders Fresh Verification
Case Title : Frontline Enterprises Limited vs. Global Insolvency Professionals Private Limited and Anr
Case Number : CP (IB) No. IA (IBC) No. 1580 of 2025 In CP (IB) No. 217/7/HDB/ 2024
CITATION : 2026 LLBiz NCLT(HYD) 534
The National Company Law Tribunal (NCLT) at Hyderabad has directed a fresh verification of a financial creditor's claim in the corporate insolvency resolution process of Sri Nagakrishna Chemicals Ltd. after noting a nearly ten-fold increase in the admitted claim amount. The tribunal noted that the amount reflected in the creditor's application was about ₹7.95 crore, while the amount admitted during the CIRP stood at ₹73.98 crore.
Insolvency Plea Must Be Based On Fresh Default After Loan Account Regularisation: NCLT Mumbai
Case Title : IIFL Home Finance Limited vs Bombay ISLE Developers Private Limited
Case Number : CP (IB) No. 352/(MB)/2024
CITATION : 2026 LLBiz NCLT (MUM) 537
The Mumbai bench of the National Company Law Tribunal (NCLT) has held that a financial creditor cannot base an insolvency petition on a historical default that ceased to exist after the loan account was regularised, and must instead rely on a fresh default specifically pleaded in the application. Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar observed: “If the Corporate Debtor commits another default after the account has been regularised, a fresh Default occurs, and an application may lie basis such default, but such date of default has to be expressly pleaded by the applicant in the application. The Financial Creditor must file the Section 7 Petition using this new date of default, not the historical one. A Financial Creditor cannot base its Section 7 Petition on a historical Default date that no longer exists. Doing so makes the Petition technically flawed and subject to dismissal by this Adjudicating Authority.”
Case Title : In the matter of Smt. Madhubala R Jain, Personal Guarantor to M/s. Kankria Agro Limited
Case Number : C.P. (IB) NO. 203/MB/2026
CITATION : 2026 LLBiz NCLT (MUM) 539
The National Company Law Tribunal (NCLT) at Mumbai has admitted an insolvency resolution application filed by a personal guarantor. It held that the pendency of recovery proceedings under the SARFAESI Act, by itself, cannot render such an application non-maintainable. A coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar observed: “In view of the overriding effect accorded to the Insolvency and Bankruptcy Code, 2016 under Section 238, pendency of recovery proceedings under the SARFAESI Act cannot, by itself, render the present application non-maintainable. In the absence of material demonstrating mala fides or abuse of process, the present proceedings cannot be rejected solely on the ground that recovery proceedings had already been initiated by the Financial Creditor. Though the filing of the present application immediately prior to the scheduled e-auction may raise suspicion, the same, in the absence of any further material, cannot by itself constitute a ground for rejection of the application.”
Case Title : Suman Kumar Verma Resolution Professional vs Countertops and Cabinets (India) Private Limited & Ors
Case Number : IA (I.B.C)/5092/2025 IN CP (IB) 903/2019
CITATION : 2026 LLBiz NCLT (MUM) 541
The National Company Law Tribunal (NCLT) in Mumbai has recently held that a tenant's continued occupation of a corporate debtor's property after expiry of its arrangement cannot defeat the objectives of the corporate insolvency resolution process (CIRP) or obstruct implementation of an approved resolution plan. The tribunal directed Countertops and Cabinets (India) Pvt Ltd to hand over possession of a Jaipur property owned by Krystal Stone Exports Ltd within 15 days.
NCLT Ahmedabad Admits Insolvency Plea Against Osia Hyper Retail's Personal Guarantor
Case Title : Unity Small Finance Bank Limited Vs Kavita Dhirendra Chopra
Case Number : C.P.(IB)/361(AHM)2025 & IA/365(AHM)2026 in C.P.(1B)/361(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 543
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has admitted an application filed by Unity Small Finance Bank Limited and initiated insolvency resolution proceedings against Kavita Dhirendra Chopra, the personal guarantor of Osia Hyper Retail Limited. The application was filed in relation to an alleged default of Rs. 10,03,58,635.
NCLT Mumbai Rejects Personal Guarantor's Insolvency Plea, Says It Was Filed To Scuttle Auction Sale
Case Title : In the matter of MRS. VANDANA RAVINDRA CHAUDHARI(Personal Guarantor of Heera Ind Trading Pvt. Ltd.)
Case Number : C.P. (IB) NO. 794/MB/2025
CITATION : 2026 LLBiz NCLT (MUM) 544
The National Company Law Tribunal (NCLT) in Mumbai has rejected a personal insolvency plea filed by a personal guarantor to Heera Group companies. It observed that the application was moved after the auction of a mortgaged property and was intended to scuttle the concluded auction process initiated by Union Bank of India. A Bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar dismissed the plea filed by Vandana Ravindra Chaudhari. She had furnished personal guarantees for credit facilities extended by Union Bank of India to Heera Ind Trading Pvt Ltd, Heera Hospitality Pvt Ltd and Pratham Heera Sales Pvt Ltd.
Housing Society Cannot Recover Admitted Insolvency Dues From Auction Buyers: NCLT Mumbai
Case Title : Anil Patel & Ors. Versus Panchratna Co-operative Housing Society and Anr.
Case Number : IA 1195/2026
CITATION : 2026 LLBiz NCLT (MUM) 545
The National Company Law Tribunal (NCLT) at Mumbai has held that a housing society which has lodged and secured admission of its claim in a corporate debtor's insolvency proceedings cannot seek to recover the same dues directly from purchasers of the debtor's property sold during liquidation. A Bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar passed the ruling while allowing an application filed by auction purchasers Anil Patel, Kiran Patel and Madhav Patel in relation to a flat purchased by them in the liquidation of C. Mahendra Export Ltd.
NCLT Mumbai Rejects Think Hard India Plea Against Guarantor For Non-Invocation Of Guarantee
Case Title : Think Hard India Private Limited VS Mr. Narendra Rajani
Case Number : C.P. (IB)/1265(MB)2022
CITATION : 2026 LLBiz NCLT (MUM) 548
On 5 June, the Mumbai Bench of the National Company Law Tribunal (NCLT) dismissed an insolvency application that Think Hard India Pvt Ltd filed against Narendra Rajani, the personal guarantor of Seya Industries Ltd, holding that no liability had arisen against the guarantor because the creditor had not validly invoked the personal guarantee.
NCLT Kochi Holds Suspended Management Has No Locus After Liquidation, Rejects Auction Challenge
Case Title : M/s Sree Bhadra Parks & Resorts Ltd v. Mr. K Parameswaran Nair
Case Number : IA(IBC)/15/KOB/2026 in IBA/13/KOB/2020
CITATION : 2026 LLBiz NCLT (KOC) 549
On 1 June, the Kochi Bench of the National Company Law Tribunal (NCLT), held that suspended directors cannot institute or pursue proceedings in the name of a corporate debtor after commencement of liquidation and that authorities cannot reopen a concluded liquidation auction in the absence of fraud, collusion or material irregularity.
Case Title : In the matter of: Mr. Amit Chandrakant Shah (Resolution Professional of Frost International Limited)
Case Number : IA (IBC) (PLAN) No. 135 of 2025 in C.P. (IB) 973(MB)2020
CITATION : 2026 LLBiz NCLT (MUM) 550
The National Company Law Tribunal's Mumbai Bench has approved Greensward Enterprise Pvt Ltd's resolution plan for Frost International Ltd, with a total value of Rs 181.20 crore, including interest on deferred payments. The company has been undergoing insolvency proceedings since February 2023. The plan secured 69.26% approval from the Committee of Creditors (CoC). A bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar approved the plan while allowing an application filed by Resolution Professional Amit Chandrakant Shah under the Insolvency and Bankruptcy Code.
Flipkart Faces Fresh Insolvency Plea Before NCLT Bengaluru Over ₹1.69 Crore Marketing Services Dues
Case Title : M/s Applabs Media Pvt Ltd Vs M/s Flipkart Internet Pvt Ltd
Case Number : CP(IB) No. 59/BB/2026
The National Company Law Tribunal at Bengaluru has issued notice to Flipkart Internet Private Limited on a plea filed by Applabs Media Private Limited seeking initiation of insolvency proceedings over an alleged operational debt of ₹1.69 crore.
NCLT Chandigarh Issues Notice To Gridlogic Games On PhonePe's ₹3.93 Crore Insolvency Plea
Case Title : Phonepe Limited Vs. Gridlogic Games Private Limited
Case Number : CP (IB) No. 142/Chd/Hry/2026
The Chandigarh Bench of the National Company Law Tribunal (NCLT) has issued notice to Gridlogic Games Private Limited on an insolvency application filed by PhonePe Limited over alleged unpaid dues of ₹3.93 crore for promotional services rendered on its platform.
NCLT Bengaluru Dismisses Netambit's Insolvency Plea Against Flipkart, Finds Pre-Existing Dispute
Case Title : Netambit Value First Services Pvt Ltd v. Flipkart Internet Private Limited
Case Number : CP(IB)-329/BB/2025
CITATION : 2026 LLBiz NCLT(BEN) 553
The National Company Law Tribunal (NCLT) at Bengaluru has dismissed an insolvency petition filed by Netambit Value First Services Pvt Ltd against Flipkart Internet Private Limited, holding that the material on record disclosed the existence of a pre-existing dispute between the parties.
NCLT Chandigarh Admits Primezone Developers To CIRP, Treats Plot Allottee Payments As Financial Debt
Case Title : Sandeep Turan Vs Primezone Developers Private Limited
Case Number : CP (IB) 128/Chd/Hry/2022
CITATION : 2026 LLBiz NCLT(CHA) 552
On 5 June, the Chandigarh Bench of the National Company Law Tribunal (NCLT) admitted Primezone Developers Pvt. Ltd. to the Corporate Insolvency Resolution Process (CIRP), holding that payments made by plot allottees constitute financial debt under the Insolvency and Bankruptcy Code. Corporate Legal Insights
Case Title : Vichitra Narayan Pathak
Case Number : IA/220(MP)2026 in C.P.(IB)/35(MP)2021
CITATION : 2026 LLBiz NCLT(IND) 556
The Indore bench of the National Company Law Tribunal (NCLT) has observed that rejection of a repayment plan by the Committee of Creditors (CoC) has the same effect as rejection of the plan by the adjudicating authority, while rejecting a personal guarantor's repayment plan after it was voted down by creditors.
NCLT Ahmedabad Admits CIRP Against Areli Commerce, Rejects Financial Hardship Defence In S.7 Case
Case Title : Standard Capital Markets Limited Vs Areli Commerce Private Limited
Case Number : CP (IB) No. 49/7/AHM/2026
CITATION : 2026 LLBiz NCLT (AHM) 555
On 10 June, the Ahmedabad Bench of the National Company Law Tribunal (NCLT) initiated the Corporate Insolvency Resolution Process (CIRP) against Areli Commerce Pvt. Ltd., holding that financial hardship, liquidity constraints and market conditions cannot be used to defeat a Section 7 petition once debt and default are established.
Secured Creditor Cannot Be Compelled To Issue NOC For Sale Of Secured Assets: NCLT Bengaluru
Case Title : Gulam Mustafa Enterprises Private Limited v. Piramal Finance Limited
Case Number : IA No. 1088 of 2025 in CP(IB) No. 48/BB/2023
CITATION : 2026 LLBiz NCLT(BEN) 557
The National Company Law Tribunal (NCLT) at Bengaluru has recently held that a secured creditor cannot be compelled to issue a No Objection Certificate (NOC) for the sale of secured assets merely because the corporate debtor proposes an alternative mechanism for repayment of its dues. Corporate Legal Insights
NCLT Mumbai Initiates Personal Guarantor Insolvency Proceedings Against Anil Ambani On SBI Plea
Case Title : STATE BANK OF INDIA vs ANIL DHIRAJLAL AMBANI
Case Number : C.P. (IB)/916(MB)2020
CITATION : 2026 LLBiz NCLT (MUM) 558
Industrialist Anil Ambani has been admitted to personal insolvency proceedings by the Mumbai Bench of the National Company Law Tribunal on an application filed by State Bank of India over guarantees furnished for loans extended to Reliance Communications Ltd (RCOM) and Reliance Infratel Ltd (RITL), involving a default of ₹853.25 crore.
NCLT Mumbai Admits Canara Bank's ₹282 Crore Insolvency Plea Against Reliance Infra SPV HK Toll Road
Case Title : The Canara Bank Limited Vs. HK Toll Road Private Limited
Case Number : IA (I.B.C) 5338/MB/2025 in C.P. (IB)/522/MB/2025
CITATION : 2026 LLBiz NCLT (MUM) 559
The Mumbai Bench of the National Company Law Tribunal (NCLT) has admitted Canara Bank's insolvency petition against HK Toll Road Private Limited.
The company is a Reliance Infrastructure-promoted special purpose vehicle executing the Hosur-Krishnagiri six-laning highway project in Tamil Nadu. The admission was over a default of Rs. 282.59 crore.
Case Title : CA Prashant Jain, Resolution Professional
Case Number : I.A. (PLAN) NO. 88 OF 2025 IN CP (IB) NO. 299 OF 2023
CITATION : 2026 LLBiz NCLT (MUM) 562
The Mumbai Bench of the National Company Law Tribunal (NCLT) on 8 June approved the resolution plan submitted by Sunsai Media Developers Pvt Ltd for Vin Semiconductors Pvt Ltd, finding that it complied with the Insolvency and Bankruptcy Code and CIRP Regulations.
NCLT Hyderabad Directs Reconsideration Of Sarda Agro Scheme After HC Removes Wilful Defaulter Tag
Case Title : Allahabad Bank v. Sarda Agro Oils Limited
Case Number : IA (IBC) Nos. 542 & 543 of 2025 in CP (IB) No. 102/07/HDB/2019
CITATION : 2026 LLBiz NCLT(HYD) 561
The Hyderabad Bench of the National Company Law Tribunal (NCLT) on 22 May allowed an application filed by Ashok Kumar Sarda, promoter and former director of Sarda Agro Oils Limited, and Vijay Sarda, a shareholder, and directed the liquidator to reconsider their compromise scheme.
Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri held that the scheme required reconsideration after the Telangana High Court set aside the wilful defaulter classification that had led to their ineligibility under the Insolvency and Bankruptcy Code (IBC).
NCLT Bengaluru Declares Congress MLC Naseer Ahmed Bankrupt Over ₹1,454 Crore Personal Guarantee Dues
Case Title : Canara Bank and Ors v. Mr. Naseer Ahmed
Case Number : IA No. 342 of 2025 in CP(IB) No. 07/BB/2021
CITATION : 2026 LLBiz NCLT (BEN) 565
The National Company Law Tribunal (NCLT) at Bengaluru recently ordered Congress MLC Naseer Ahmed bankrupt. The Tribunal noted that he failed to submit any repayment plan during his personal insolvency resolution process.
'Other Creditors' Have No Right To Pre‑Approval Disclosure Of Resolution Plan: NCLT Chandigarh
Case Title : Sandeep Kumar& Ors Vs Chandigarh Overseas Pvt. Ltd.
Case Number : I.A. No.1819 of 2024 In CP(IB) No. 248/Chd/Chd/2019
CITATION : 2026 LLBiz NCLT(CHA) 560
The Chandigarh Bench of the National Company Law Tribunal (NCLT) on 5 June dismissed an application seeking disclosure of a resolution plan before its approval and held that “Other Creditors” cannot access it at the pre-approval stage.
Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal heard the application filed by Sandeep Kumar and two others and rejected it.
Fresh Relief On New Facts Not Fraudulent Despite Earlier Denial Of Similar Claim: NCLT Mumbai
Case Title : Jyoti Structures Limited Versus DBS Bank Limited
Case Number : IA (I.B.C.) No. 390/2026 In IA (IBC)(LIQ.) No. 93/2025 In C.P (IB) No. 1137/2017
CITATION : 2026 LLBiz NCLT (MUM) 566
On 11 June, the Mumbai Bench of the National Company Law Tribunal (NCLT) held that a party's failure to obtain a relief in earlier proceedings does not make a subsequent application seeking the same relief fraudulent or malicious when it is based on fresh facts and supervening events under Section 65 of the Insolvency and Bankruptcy Code.
Case Title : Ramareddy Devraj v. IC India Pvt Ltd
Case Number : CP(IB) No. 190/BB/2025
CITATION : 2026 LLBiz NCLT (BEN) 569
The National Company Law Tribunal (NCLT) at Bengaluru has held that part-payments made after issuance of a demand notice do not, by themselves, conclusively establish the absence of a dispute over the entire operational debt claimed in an insolvency petition where the quantum of liability remains disputed.
NCLT Allahabad Rejects Insolvency Plea Against Noida Metro Rail Over Pre-Existing Dispute
Case Title : EMPIRE TRANSPORT SERVICES LIMITED Vs NOIDA METRO RAIL CORPORATION LIMITED
Case Number : CP (IB) NO.45/ALD/2021
CITATION : 2026 LLBiz NCLT (ALL) 570
The Allahabad Bench of the National Company Law Tribunal (NCLT) has dismissed an insolvency plea filed by Empire Transport Services Limited (ETSL) against Noida Metro Rail Corporation Limited (NMRC).
The plea arose from alleged unpaid dues under a Bus Operators Agreement for operation and maintenance of bus services in Noida, Greater Noida and the Noida-Greater Noida connectivity corridor. A bench of Judicial Member Praveen Gupta and Technical Member Ashish Verma observed that the material on record demonstrated the existence of disputes between the parties before the issuance of the demand notice.
ARC Must Establish Guarantee Was Assigned Before Proceeding Against Personal Guarantor: NCLT Mumbai
Case Title : OMKARA ASSETS RECONSTRUCTION PRIVATE LIMITED Versus MR. AGNELLO LOUIS D'SOUZA
Case Number : C.P. (IB) NO. 837/MB/2024
CITATION : 2026 LLBiz NCLT (MUM) 572
An Asset Reconstruction Company cannot proceed against an alleged guarantor merely by establishing the existence of a guarantee and must also show that the guarantee was assigned to it, the National Company Law Tribunal (NCLT), Mumbai, has held.
A bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar rendered the ruling while dismissing an insolvency petition filed by Omkara Assets Reconstruction Pvt Ltd against Agnello Louis D'Souza.
Creditors Cannot Bypass COVID-Era Insolvency Bar Through Arbitral Award Or Fresh Demand: NCLT Mumbai
Case Title : NKGSB Co-operative Bank Limited V/s. KSM Multitrade LLP
Case Number : CP (IB)/778(MB)/2024
CITATION : 2026 LLBiz NCLT (MUM) 573
The National Company Law Tribunal (NCLT) at Mumbai has recently held that creditors cannot circumvent the insolvency bar imposed during the COVID-19 period by relying on a subsequent arbitral award or a fresh demand arising from the same default. The tribunal observed that accepting such an interpretation would defeat the purpose of the statutory protection.
NCLT Allahabad Orders Liquidation Of Usha India Ltd, Rejects ₹22.49 Crore Resolution Plan
Case Title : CHIRAG RAJENDRA KUMAR SHAH Vs THE ADMINISTRATOR OF THE SPECIFIED UNDERTAKING OF THE UNIT TRUST OF INDIA & USHA INDIA LIMITED
Case Number : IA (PLAN) No.07/2025 IN CP (IB) NO.25/ALD/2023
CITATION : 2026 LLBiz NCLT (ALL) 573
The Allahabad Bench of the National Company Law Tribunal (NCLT) has rejected the resolution plan submitted by the consortium of Dr Mukesh Kumar Agarwal and Divyansh Agarwal for Usha India Limited. The tribunal also ordered liquidation of the company. The bench of Judicial Member Praveen Gupta and Technical Member Ashish Verma held that it was unable to record satisfaction that the approved resolution plan complied with the mandatory requirements of the Insolvency and Bankruptcy Code.
NCLT Delhi Approves ₹135.39 Crore Resolution Plan For Mastana Foods
Case Title : Amit Agarwal Vs HR Commercials Private Limited in consortium with M/s Crown Steels & Ors
Case Number : IA (IBC) (PLAN) No. - 48/2025 IN Company Petition No. (IB)-630(PB)/2019
CITATION : 2026 LLBiz NCLT(DEL) 574
The Delhi bench of the National Company Law Tribunal (NCLT) has approved a resolution plan worth ₹135.39 crore submitted by a consortium of HR Commercials Pvt. Ltd. and Crown Steels for Mastana Foods Pvt. Ltd. A bench of President Anupinder Singh Grewal and Technical Member Ravindra Chaturvedi observed that the adjudicating authority cannot interfere with the commercial wisdom of the Committee of Creditors (CoC) so long as the resolution plan complies with the Insolvency and Bankruptcy Code.
Case Title : Gayatri Engimech Private Limited Vs Sisa Mosaic Private Limited
Case Number : C.P.(IB)/250(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 575
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has rejected an insolvency application, holding that the petition may be collusive. The tribunal also observed that the Memorandum of Understanding (MOU) relied upon by the applicant appeared to be a fictitious document created for filing the case.
Case Title : Gayatri Engimech Private Limited Vs Sisa Mosaic Private Limited
Case Number : C.P.(IB)/250(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 575
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has rejected an insolvency application, holding that the petition may be collusive. The tribunal also observed that the Memorandum of Understanding (MOU) relied upon by the applicant appeared to be a fictitious document created for filing the case. The application was filed by Gayatri Engimech Pvt. Ltd. against Sisa Mosaic Pvt. Ltd. seeking initiation of the corporate insolvency resolution process over an alleged default of ₹3.58 crore arising from an unsecured loan transaction.
Case Title : Montage Enterprises Pvt Ltd. Versus M/s Neemsar Vyapaar Pvt. Ltd. Limited
Case Number : IA (Dis.)-21(ND)/2024 In IB-716(ND)/2022
CITATION : 2026 LLBiz NCLT(DEL) 578
The National Company Law Tribunal (NCLT) at Delhi has recently ordered the dissolution of Neemsar Vyapaar Private Limited after finding no impediment to doing so, even though a GST demand of ₹100. 20 crore had been raised against the company during the liquidation process. A bench of Judicial Member Bachu Venkat Balaram Das and Technical Member Ravindra Chaturvedi observed that there was no impediment to dissolution, clarifying that proceedings could continue against persons concerned with the company.
NCLT Delhi Approves ₹1.89 Crore Repayment Plan For Woolways India Personal Guarantor
Case Title : SBI v.. Babita Nayar
Case Number : IA-3478/2024 IN IB-696(ND)/2021
CITATION : 2026 LLBiz NCLT(DEL) 579
The National Company Law Tribunal (NCLT) at Delhi has approved a repayment plan worth ₹1.89 crore proposed by Babita Nayar, personal guarantor to Woolways India Limited. The plan envisages repayment to creditors within five months through the sale of immovable properties and financial assistance from friends and relatives. A bench of Judicial Member Bachu Venkat Balaram Das and Technical Member Ravindra Chaturvedi also clarified, in a connected matter, that an earlier direction requiring the State Bank of India (SBI) to deposit ₹2 lakh into the account of the Resolution Professional was only an interim measure intended to facilitate the insolvency process. It was not a determination of the final professional fee payable.
Case Title : Pramod Kumar Misra Vs M/S DUKE FASHIONS (INDIA) LTD.
Case Number : I.A. No. 1975 of 2023 & I.A. No. 1991 of 2023 in CP (IB) NO. 66/CHD/PB/2019
CITATION : 2026 LLBiz NCLT(CHA) 580
On 11 June, the Chandigarh Bench of the National Company Law Tribunal (NCLT), held that the Liquidator under the Insolvency and Bankruptcy Code, 2016 (IBC) has overriding authority to recover possession of liquidation estate assets, and that rent control proceedings cannot obstruct such statutory duties. Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal directed Duke Fashions (India) Ltd. and UV & W Products Pvt. Ltd. to vacate and hand over possession of prime properties in Ludhiana forming part of the liquidation estate of Venus Garments (India) Limited.
NCLT Bengaluru Allows Change In Default Date In Insolvency Plea Against Cafe Coffee Day Parent
Case Title : Reschtsanwalt Dr.Christian Bachmann v. Coffee Day Global Limited
Case Number : IA No. 722 of 2025 in CP(IB) No. 232/BB/2024
CITATION : 2026 LLBiz NCLT(BEN) 584
The National Company Law Tribunal (NCLT) at Bengaluru recently allowed an amendment to the date of default in an insolvency petition against Cafe Coffee Day parent Coffee Day Global Ltd, permitting the date to be changed from November 27, 2020, to September 30, 2019. A bench of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada held that the proposed amendment merely aligned the date of default with the factual foundation already set out in the pleadings and did not amount to introducing a new cause of action.
NCLT Delhi Rejects Former SpiceJet Pilot's Insolvency Plea Against Airline Over Salary Dues
Case Title : CAPT. DEVESH BBYAN Vs SPICEJET LIMITED
Case Number : C.P. (IB)-148/ND/2025
CITATION : 2026 LLBiz NCLT(DEL) 585
The National Company Law Tribunal (NCLT) at Delhi has recently dismissed an insolvency plea filed by a former SpiceJet pilot over alleged unpaid salary dues, holding that the claim fell below the minimum threshold required for initiating insolvency proceedings and was also the subject of a pre-existing dispute
Case Title : Ram Niranjan Kajaria & Ors. v. Anil Plantations Private Limited & Ors.
Case Number : IA (Companies Act)/144/KB/2025; COMP. APPL. 43/KB/2024
CITATION : 2026 LLBiz NCLT (KOL) 586
The National Company Law Tribunal (NCLT) in Kolkata has held that family settlement agreements entered into by only some members of a family cannot be recognised as binding settlements where other legal heirs and coparceners continue to assert rights in the disputed estate and shareholding. The tribunal ruled that two such agreements relied upon in a dispute concerning Anil Plantations Private Limited were void and illegal. It further held that the agreements could not render the company petition non-maintainable.
Case Title : Sanjeev Jhunjhunwala, Liquidator of Dooteriah & Kalej Valley Tea Private Limited v. Goutam Kumar Roy & Anr.
Case Number : I.A. (IB) No. 27/KB/2026 in C.P. (IB) No. 557/KB/2017
CITATION : 2026 LLBiz NCLT (KOL) 587
The National Company Law Tribunal (NCLT), Kolkata Bench, has recently held that after the omission of the provisions permitting going-concern sales under the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, it cannot allow the sale of a corporate debtor as a going concern or as a continuing juristic entity during liquidation.
Case Title : Attukal Bhagavathy Temple Trust & Anr. v. Attukal Devi Institute of Medical Sciences Ltd. & Anr.
Case Number : IA(IBC)/217/KOB/2025 in CP(IBC)/22/KOB/2024
CITATION : 2026 LLBiz NCLT (KOB) 591
The National Company Law Tribunal (NCLT) at Kochi has recently refused to direct the Resolution Professional to hand over possession of a hospital property leased by Attukal Bhagavathy Temple Trust to Attukal Devi Institute of Medical Sciences Ltd., observing that such a direction could not be issued during the subsistence of the Corporate Insolvency Resolution Process (CIRP) and moratorium. The tribunal observed that such a direction could not be issued while the Corporate Insolvency Resolution Process (CIRP) and moratorium remained in force.
NCLT Hyderabad Refuses To Direct VNR Infrastructure Liquidator To Process Subcontractor's Bills
Case Title : SS Rail Works Pvt. Ltd. v. VNR Infrastructure Ltd. (Under Liquidation)
Case Number : IA No. 44 of 2022 in CP (IB) No. 12/10/HDB/2017
CITATION : 2026 LLBiz NCLT (HYD) 592
The National Company Law Tribunal (NCLT) at Hyderabad has refused to direct the liquidator of VNR Infrastructure Ltd. to process a subcontractor's bills and secure payment from North East Frontier Railway authorities.
Proceedings Before Calcutta High Court No Bar To Examining Preferential Transactions: NCLT Kolkata
Case Title : McNally Bharat Engineering Company Limited Through its Resolution Professional Mr. Ravi Sethia … Resolution Professional/Applicants Versus McNally Trolex JV & Ors
Case Number : I.A. (IB) No. 342/KB/2023 In Company Petition (IB) No. 891/KB/2020
CITATION : 2026 LLBiz NCLT (MUM) 595
The Kolkata Bench of the National Company Law Tribunal (NCLT) on 12 June held that the mere pendency of proceedings before the Calcutta High Court does not prevent it from examining whether a transaction amounts to a preferential transaction under Section 43 of the Insolvency and Bankruptcy Code, 2016.
NCLT Ahmedabad Directs Return Of 5 EVs To Gensol EV Lease, Bars Arbitration During Moratorium
Case Title : Keshav Khaneja RP of Gensol EV Lease Limited Vs EC Wheels India Private Limited
Case Number : IA/1429(AHM)2025 In C.P.(IB)/199(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 596
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 15 June held that leased vehicles forming part of a corporate debtor's assets must be returned to the Resolution Professional during insolvency proceedings. Further, that rival monetary claims cannot be decided in summary jurisdiction under Section 60(5) of the Insolvency and Bankruptcy Code (IBC).
Case Title : Frontline Wind Energy Private Limited v. K. Vatsa Kumar, Liquidator of PPS Enviro Power Private Limited & Anr.
Case Number : IA (IBC) No. 239 of 2026 in CP (IB) No. 407/7/HDB/2018
CITATION : 2026 LLBiz NCLT (HYD) 593
The Hyderabad Bench of the National Company Law Tribunal (NCLT) has held that reliefs and concessions arising from a liquidation auction conducted on a going-concern basis cannot extend directly to third-party investor entities who did not participate in the bidding process or receive auction documents.
Case Title : Phantom Studios India Private Limited vs EROS International Media Limited Case Number : C.P. No. (IB) 598/MB/C-III/2024
CITATION : 2026 LLBiz NCLT (MUM) 599
The Mumbai Bench of the National Company Law Tribunal (NCLT) has dismissed an insolvency plea filed by Phantom Studios India Pvt Ltd against Eros International Media Ltd. The Tribunal held that Phantom Studios' claim for ₹1.48 crore arising from the parties' co-production arrangement for the film NH10 did not qualify as an operational debt under the Insolvency and Bankruptcy Code. A bench of Judicial Member Lakshmi Gurung and Technical Member Hariharan Neelakanta Iyer rejected Phantom Studios' petition seeking initiation of the corporate insolvency resolution process against Eros over an alleged default of Rs 1.48 crore.
NCLT Ahmedabad Admits Insolvency Plea Against Evoq Remedies Over ₹1.95 Crore Unrefunded Advance
Case Title : Harbhole Agrotech Vs Evoq Remedies Limited
Case Number : CP (IB) No.149/9/AHM/2026
CITATION : 2026 LLBiz NCLT (AHM) 600
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has admitted Harbhole Agrotech's insolvency petition against Evoq Remedies Limited over an alleged default in refunding Rs 1.95 crore paid in advance for the supply of FSG Castor Oil. A bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma found that the debt and default had been established. It also found that no pre-existing dispute had been shown on record.
Only Security Created Over Corporate Debtor's Assets Confers Secured Creditor Status: NCLT Kochi
Case Title : Dileep K.P v. YES Bank Limited
Case Number : IA(IBC)/138/KOB/2026 in CP(IBC)/33/KOB/2025
CITATION : 2026 LLBiz NCLT(KOC) 602
The National Company Law Tribunal (NCLT) at Kochi has held that a creditor cannot claim the status of a secured financial creditor in a corporate insolvency resolution process merely because its debt is backed by the personal assets of promoters.
Case Title : Radhey Sham Midha & Sandeep Kumar Bhatla Vs Rahul Jindal
Case Number : I.A.(I.B.C)/46(CH)/2025 in CP (IB) No. 98/Chd/Hry/2022
CITATION : 2026 LLBiz NCLT(CHA) 590
The Chandigarh Bench of the National Company Law Tribunal (NCLT) has dismissed a plea by two flat buyers seeking recognition as financial creditors of Samar Estates Pvt. Ltd. and inclusion in the company's Committee of Creditors (CoC).
NCLT Kochi Holds 2026 IBC Amendment Clarifying Liquidation Distribution Applies Retrospectively
Case Title : Meenachil East Urban Co-operative Bank Limited v. CA Mahalingam Suresh Kumar and Anr
Case Number : IA(IBC)/1/KOB/2025 in IBA/240/KOB/2019
CITATION : 2026 LLBiz NCLT(KOC) 603
The National Company Law Tribunal (NCLT) has ruled that a 2026 clarification to the insolvency law governing the entitlement of secured creditors who relinquish their security interests during liquidation applies to pending proceedings.
Income Tax Department Cannot Continue Pre-CIRP Attachment After Resolution Plan Approval: NCLT Kochi
Case Title : Orchid Valley Apartment Buyers Association v. Assistant Commissioner of Income Tax Circle and Anr
Case Number : MA(IBC)/02/KOB/2026 in IA(IBC)/215/KOB/2023 in CP(IB)/05/KOB/2021
CITATION : 2026 LLBiz NCLT(KOC) 605
The National Company Law Tribunal (NCLT) at Kochi recently held that the Income Tax Department cannot continue a pre-CIRP attachment over a corporate debtor's property after approval of a resolution plan. A coram of Judicial Member Vinay Goel and Technical Member Ravichandran Ramasamy allowed an application filed by Orchid Valley Apartment Buyers Association, the successful resolution applicant for the Orchid Valley project of Samson and Sons Builders and Developers Private Limited.
Tribunal Cannot Expand Asset Base After Approval of Resolution Plan Under Section 31: NCLT Guwahati
Case Title : PRAG India vs Ms. Sudha Sharma
Case Number : IA(IBC)/23/GB/2026 in IA(IBC)(PLAN) 1/GB/2025 in CP(IB)/128/GB/2018
CITATION : 2026 LLBiz NCLT(GUA) 607
The Guwahati Bench of the National Company Law Tribunal (NCLT) on 12 June held that once a resolution plan is approved under Section 31 of the Insolvency and Bankruptcy Code, it cannot be used to rewrite, modify or expand the asset base contemplated under the plan.
NCLT Mumbai Admits Central Bank Of India's ₹44.68 Crore Insolvency Plea Against Deepak Education
Case Title : CENTRAL BANK OF INDIA vs DEEPAK EDUCATION LIMITED
Case Number : CP (IB) No. 374/MB/2024
CITATION : 2026 LLBiz NCLT (MUM) 608
On 17 June, the Mumbai Bench of the National Company Law Tribunal (NCLT) admitted a Section 7 petition filed by Central Bank of India against Deepak Education Ltd over a default of Rs. 44.68 crore, thereby initiating the Corporate Insolvency Resolution Process against the company.
Case Title : Surinder Aggarwal & Ors. Vs Raheja Developers Limited
Case Number : CP (IB) – 182(ND)/2024
CITATION : 2026 LLBiz NCLT(DEL) 610
The New Delhi National Company Law Tribunal (NCLT) on 8 June held that homebuyers' payments towards a real estate project constitute financial debt under Section 5(8)(f) of the Insolvency and Bankruptcy Code (IBC). President Justice Anupinder Singh Grewal and Technical Member Ravindra Chaturvedi admitted a Section 7 petition filed by 176 allottees of Raheja Developers' Revanta project seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the developer.
Case Title : Rajesh Kumar Loomba, Liquidator of Julka Rice and Oil Mills Limited v. Julka Rice and Oil Mills Limited (Under Liquidation)
Case Number : IA (IBC) 585(CH)/2026 in CP (IB) No. 38/Chd/Pb/2018
CITATION : 2026 LLBiz NCLT (CHA) 604
The National Company Law Tribunal (NCLT) at Chandigarh has allowed the liquidator of a rice mill to initiate execution proceedings for recovery of enhanced compensation awarded for land acquired by the Punjab government.
Collusion Allegations Alone Cannot Establish Fraudulent Insolvency Proceedings: NCLT Chandigarh
Case Title : Dr. Vijay Vohra v. Himalaya Food International Ltd.
Case Number : IA (IBC) No. 900/CH/2025 in CP (IB) No. 161/Chd/HP/2023
CITATION : 2026 LLBiz NCLT(CHA) 612
The National Company Law Tribunal (NCLT) in Chandigarh has held that allegations of collusion, related-party dealings, and disputes among shareholders or directors are not enough to establish that insolvency proceedings were initiated fraudulently. A bench of Judicial Member Khetrabasi Biswal and Technical Member Kaushalendra Kumar Singh rejected an application filed by Dr Vijay Vohra, a promoter shareholder and director of A.P.J. Laboratories Ltd.
Case Title : Aditya Birla Finance Limited v. G. Thiyagarajan
Case Number : CP(IB)/43(CHE)/2024 and IA(IBC)/799(CHE)/2024
CITATION : 2026 LLBiz NCLT(CHE) 613
The National Company Law Tribunal (NCLT) at Chennai has reiterated that a settlement reached during the liquidation of a corporate debtor does not absolve a personal guarantor of liability under a separate contract of guarantee.
Case Title : One 97 Communication Limited vs Fabzen Technologies Private Limited
Case Number : C.P. (IB)/884(MB)2025
CITATION : 2026 LLBiz NCLT (MUM) 615
The National Company Law Tribunal (NCLT) in Mumbai has admitted an insolvency plea filed by One97 Communications Ltd, which operates Paytm, against gaming company Fabzen Technologies Pvt Ltd over unpaid dues of more than ₹3.41 crore for digital advertising services. A bench of Judicial Member Nilesh Sharma and Technical Member Sameer Kakar held that One97 had established the existence of an operational debt and a payment default, while Fabzen had failed to show any pre-existing dispute.
Bare Production Of Guarantee Deed Without Commercial Nexus Cannot Establish Debt: NCLT Mumbai
Case Title : Naman Syntex Prop Daksha Rajendra Ahuja. Versus Mrs. Mansi Lalit Kumar Manjrekar
Case Number : CP (IB) No.970/MB/2025
CITATION : 2026 LLBiz NCLT (MUM) 619
The Mumbai Bench of the National Company Law Tribunal on 16 June held that a Section 95 insolvency petition under the Insolvency and Bankruptcy Code cannot be sustained on the basis of a mere guarantee deed without supporting evidence of commercial context, consideration, financial capacity and nexus establishing a legally enforceable debt.
Case Title : Krishkan Investment Private Limited. Vs Utkal Steels Limited
Case Number : TP(IBC)/2(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 621
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 17 June held that insolvency proceedings against a corporate guarantor cannot be made conditional on the realisation of assets of the principal borrower and reaffirmed that a guarantor's liability remains co-extensive with that of the principal debtor under Section 128 of the Indian Contract Act, 1872.
Case Title : Edelweiss Asset Reconstruction Company Ltd. v/s. Fab Metals Private Limited & Ors
Case Number : I.A. No. 3983 of 2024 IN C.P. (IB) No. 1224/MB/2020
CITATION : 2026 LLBiz NCLT (MUM) 624
The National Company Law tribunal (NCLT) at Mumbai has held that creditors cannot claim the benefit of a subsequent increase in the value of a corporate debtor's assets after approving a resolution plan. The tribunal ruled that the gain cannot be claimed merely because the increase was not contemplated when the plan was approved.
Insolvency Against Personal Guarantor Maintainable Without CIRP Against Borrower: NCLT Kolkata
Case Title : Indian Bank Versus Santosh Jhawar, Personal Guarantor of M/s Burgundy Life Style Pvt. Ltd
Case Number : I.A. (IB) No. 1690/KB/2024 In C.P. (IB) No. 193/KB/2024
CITATION : 2026 LLBiz NCLT (KOL) 627
The National Company Law Tribunal (NCLT) at Kolkata has reiterated that insolvency proceedings against a personal guarantor can be maintained even if no insolvency proceedings have been initiated against the principal borrower.
NCLT Bengaluru Holds Bank Cannot Retain Title Deeds After Full Payment of Resolution Plan Dues
Case Title : Kotak Mahindra Bank v. Arun Shelters
Case Number : IA(IBC) 1002/ 2025 in CP(IB) No. 305/BB/2019
CITATION : 2026 LLBiz NCLT (BEN) 628
The National Company Law Tribunal (NCLT) at Bengaluru has held that a bank that has received the full amount payable under an approved resolution plan cannot continue withholding a corporate debtor's title deeds and security documents. The tribunal held that the pendency of an appeal concerning an interest dispute is not, by itself, a valid reason to retain those documents. A bench of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada directed Kotak Mahindra Bank to hand over the original title deeds, security papers and charge release documents relating to the Arun Aurovilla project within 15 days.
Case Title : Union Bank of India Vs. Rashmi Realty Builders Private Limited
Case Number : C.P. (IB)/1119/MB/2025
CITATION : 2026 LLBiz NCLT (MUM) 629
The National Company Law Tribunal (NCLT) in Mumbai has recently held that the substantial completion of a real estate project and the sale of flats and shops in it do not bar insolvency proceedings by a lender. The tribunal observed that such circumstances do not extinguish an unpaid financial debt. A coram of Judicial Member Nilesh Sharma and Technical Member Sameer Kakar admitted Union Bank of India's insolvency plea against Rashmi Realty Builders Pvt Ltd over a default of more than ₹60 crore. The tribunal also rejected the developer's allegation that the proceedings had been initiated with malicious intent.
Secured Creditor Cannot Enforce Security After Statutory Timeline Under Regulation 21A: NCLT Mumbai
Case Title : The Vishweshwar Limited, Pune Sahakari Bank Vs Prashant Jain
Case Number : I.A No. 4943/2025 In CP No. 1852 /2019
CITATION : 2026 LLBiz NCLT (MUM) 630
The Mumbai Bench of the National Company Law Tribunal (NCLT) on 10 June held that compliance with the timelines prescribed under Regulation 21A of the IBBI (Liquidation Process) Regulations is mandatory and that a secured creditor cannot be permitted to realise its security interest after failing to exercise its option within the stipulated period.
Resolution Professional Cannot Be Replaced For Disagreement With Recommendation: NCLT Jaipur
Case Title : Mr. Islamuddin Kagzi v. Union Bank of India
Case Number : IA(IBC) No. 567/JPR/2025 in RCP(IB) No. 4/95/JPR/2025
CITATION : 2026 LLBiz NCLT (JAI) 631
The National Company Law Tribunal at Jaipur on 19 June held that a Resolution Professional appointed in personal guarantor insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 cannot be replaced merely on account of a party's dissatisfaction with the professional's recommendation. Judicial Member Reeta Kohli and Technical Member Kavita Bhatnagar dismissed an application filed by Islamuddin Kagzi, personal guarantor to Sanga Builders Private Limited, who sought substitution of the Resolution Professional appointed in proceedings initiated by Union Bank of India under Section 95 of the IBC.
NCLT Mumbai Initiates CIRP Against Longrange Commodities, Admits ₹90.54 Crore UCO Bank Petition
Case Title : UCO Bank V/s Longrange Commodities Limited
Case Number : C.P. (IB)/514(MB)2025
CITATION : 2026 LLBiz NCLT (MUM) 632
On 12 June, the Mumbai Bench of the National Company Law Tribunal (NCLT) admitted Longrange Commodities Pvt Ltd into the Corporate Insolvency Resolution Process on a petition filed by UCO Bank over a default of Rs. 90.54 crore and appointed Kuldeep Tank as the Interim Resolution Professional. Judicial Member Nilesh Sharma and Technical Member Sameer Kakar held that a Section 7 petition under the Insolvency and Bankruptcy Code, 2016 is maintainable where the financial creditor establishes financial debt, default, and valid acknowledgements extending limitation, and further held that curable procedural defects cannot defeat substantive rights.
IBC Approval Does Not Auto-Delete ROC Charges, Companies Act Procedure Must Be Followed: NCLT Jaipur
Case Title : The Administrator of Specified Undertaking of Unit Trust of India and Anr v. Modern Syntex (India) Ltd
Case Number : IA No. 29/JPR/2026 in CP(IB) No. 39(PB)/2018
CITATION : 2026 LLBiz NCLT(JAI) 634
The Jaipur Bench of the National Company Law Tribunal on 22 June ruled that approval of a resolution plan under the Insolvency and Bankruptcy Code, 2016 does not automatically delete pre-CIRP charge entries from the records maintained by the Registrar of Companies. Judicial Member Reeta Kohli and Technical Member Kavita Bhatnagar held that parties must still follow the statutory procedure under the Companies Act, 2013 for satisfaction or modification of such charges and partly allowed the application filed by Vaaso Infrastructure Private Limited.
Dues Arising From TReDS Transactions Are Operational Debt, Not Financial Debt: NCLT Jaipur
Case Title : Bank of Maharashtra v. Ashiana Ispat Limited
Case Number : CP No.(IB)-73/07/JPR/2025
CITATION : 2026 LLBiz NCLT(JAI) 635
The National Company Law Tribunal (NCLT) at Jaipur has dismissed Bank of Maharashtra's insolvency plea (section 7) against Ashiana Ispat Limited. The tribunal held that dues arising from invoice discounting transactions undertaken through the Trade Receivables Discounting System (TReDS) were operational debt and not financial debt.
Case Title : Bank of Baroda Vs Sintex Industries Ltd & Ors
Case Number : IA No. 439 of 2021 in CP(IB) No. 321 of 2020
CITATION : 2026 LLBiz NCLT (AHM) 638
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has dismissed an application by Bank of Baroda, acting on behalf of the lenders of Sintex Prefab & Infra Ltd (SPIL), seeking reversal of a ₹26.79 crore transfer from the company's account as a preferential transaction.
NCLT Ahmedabad Orders Return Of 150 Leased EVs In Gensol EV Lease's Insolvency
Case Title : Keshav Khaneja RP of Gensol EV Lease Limited Vs Omega Seiki Mobility Pvt. Ltd & Ors
Case Number : IA/1511(AHM)2025 in C.P.(IB)/199(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 637
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has ordered Omega Seiki Mobility Private Limited to return leased electric vehicles belonging to Gensol EV Lease Limited, which is undergoing insolvency proceedings.
NCLT Allahabad Clears GSW Enterprises' ₹95 Crore Resolution Plan For Hind Agro Industries
Case Title : Paramjeet Singh Bhatia Vs GSW ENTERPRISE PRIVATE LIMITED & Ors
Case Number : IA (PLAN) NO.8/2025 IN CP (IB) NO.04/ALD/2019
CITATION : 2026 LLBiz NCLT (ALL) 636
The Allahabad bench of the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by G.S.W. Enterprises Private Limited for Hind Agro Industries Limited. The plan provides for payment of ₹95 crore towards settlement of stakeholder claims. It also envisages ₹200 crore towards working capital and capital expenditure over a five-year period.
GST Compliance Services During CIRP Qualify As IRP Costs, But Fees Must Be Reasonable: NCLT Kolkata
Case Title : PRATEEK S JAIN & ASSOCIATES vs PRATIM BAYAL AND ANR.
Case Number : I.A. No. 69/KB/2026 IN C.P. (IB) No. 1377/KB/2020
CITATION : 2026 LLBiz NCLT (KOL) 640
The National Company Law Tribunal (NCLT) at Kolkata has held that GST compliance services rendered during a corporate insolvency resolution process may form part of insolvency resolution process costs when they are necessary for running the corporate debtor as a going concern.
NCLT Admits Bank of India Insolvency Plea Against Supreme Engineering, Rejects Section 10A Defence
Case Title : Bank of India Vs Supreme Engineering Limited
Case Number : IA(I.B.C)/ 5513(MB)2025 IN C.P. (IB)/ 660(MB)2025
CITATION : 2026 LLBiz NCLT (MUM) 641
On 23 June, the Mumbai Bench of the National Company Law Tribunal (NCLT) admitted Bank of India's Section 7 petition against Supreme Engineering Limited over a default of Rs. 117.50 crore, holding that Section 10A of the Insolvency and Bankruptcy Code, 2016 does not shield post-COVID defaults from insolvency proceedings.
Case Title : JM FINANCIAL ASSET RECONSTRUCTION COMPANY LIMITED vs SHUBH HOSPITALITY PRIVATE LIMITED
Case Number : CP (IB) No. 3500/MB/2019
CITATION : 2026 LLBiz NCLT (MUM) 642
The National Company Law Tribunal (NCLT), Mumbai on 23 June 2026 dismissed JM Financial Asset Reconstruction Company Ltd's Section 7 insolvency petition against Shubh Hospitality Pvt Ltd, holding that a Debt Recovery Tribunal (DRT) review order correcting errors in an earlier judgment does not extend the limitation period under the Insolvency and Bankruptcy Code, 2016.
NCLT Ahmedabad Rejects Plea On Preferential, Fraudulent Transactions Due To Failure Of Service
Case Title : Omkarchand Maloo Vs Yash Jatinbhai Baxi & Ors
Case Number : IA/644(AHM)2022 in CP(IB) 657 of 2019
CITATION : 2026 LLBiz NCLT (AHM) 643
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 12 June held that applications under Sections 43 and 66 of the Insolvency and Bankruptcy Code, 2016 cannot be adjudicated in the absence of valid service on respondents, as such adjudication would violate principles of natural justice. Judicial Member Shammi Khan and Technical Member Sanjeev Sharma dismissed an application filed by Omkarchand R. Maloo, Liquidator of Intelligent Textile Engineers Pvt. Ltd., seeking directions on alleged preferential and fraudulent transactions, due to failure to effect service on Respondent Nos. 1 to 3.
Case Title : Zenith Media Scope Private Limited Vs Nirvikar Films LLP
Case Number : CP (IB) –190(PB)/2026
CITATION : 2026 LLBiz NCLT(DEL) 644
The New Delhi Bench of the National Company Law Tribunal (NCLT) on 12 June held that interest stipulated in invoices and credit notes forms part of operational debt when the Corporate Debtor does not dispute it, and can be included while computing the statutory threshold under the Insolvency and Bankruptcy Code, 2016.
Case Title : Krishnna Kumar Haridas VS BSE LIMITED & ORS
Case Number : I.A No. 559 of 2026 IN C.P (IB) No.10/7/HDB/2022
CITATION : 2026 LLBiz NCLT (HYD) 645
The Hyderabad Bench of the National Company Law Tribunal (NCLT) on 12 June held that post-approval restructuring measures cannot claim the overriding effect of the Insolvency and Bankruptcy Code, 2016 unless they form part of the approved resolution plan.
Case Title : PRUDENT ARC LTD Vs SUPER PROPERTY MAINTENANCE PVT. LTD
Case Number : C.P. (IB) NO. 218 OF 2026
CITATION : 2026 LLBiz NCLT(DEL) 646
The New Delhi Bench of the National Company Law Tribunal (NCLT) on 16 June admitted an insolvency petition filed by Prudent ARC Ltd against Super Property Maintenance Pvt Ltd, holding that transferred winding-up proceedings, where no irreversible steps have been taken, do not bar initiation of Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016.
NCLT Kochi Rejects ADIMS Resolution Plan Over Dependence On Uncertain Lease, Terminates CIRP
Case Title : CA Rajmohan R, Resolution Professional, M/s Attukal Devi Institute of Medical Sciences Limited
Case Number : IA(IBC)(Plan)/06/KOB/2025 in CP(IB)/22/KOB/2024
CITATION : 2026 LLBiz NCLT(KOC) 648
On 25 June, the Kochi Bench of the National Company Law Tribunal (NCLT) declined to approve the resolution plan submitted for Attukal Devi Institute of Medical Sciences Limited (ADIMS), holding that plans founded on speculative contingencies and unresolved third-party disputes cannot be sustained solely on the basis of Committee of Creditors' (CoC) approval.
Case Title : Allegis Services (India) Pvt. Ltd Vs Olive Telecommunication Pvt. Ltd.
Case Number : TP (Co. Act.) No. 30(PB)/2024
CITATION : 2026 LLBiz NCLT(DEL) 649
The New Delhi Bench of the National Company Law Tribunal (NCLT) on 11 June admitted the Section 9 application filed by Allegis Services (India) Pvt. Ltd against Olive Telecommunication Pvt. Ltd, commenced Corporate Insolvency Resolution Process (CIRP), declared moratorium under Section 14, and appointed Harmeet Kaur as Interim Resolution Professional (IRP).
Going-Concern Liquidation Buyer Not Entitled To Automatic Waivers Under IBC: NCLT Mumbai
Case Title : Consortium of Maheshkumar Tejraj Inani and Space Realtors Pvt. Ltd. v. Ganesh Venkata Siva Rama Krishna Remani, Liquidator of Warden Surgical Company Pvt. Ltd.
Case Number : I.A. 4284/2025 in C.P. (IB) No. 746/MB/C-III/2022
CITATION : 2026 LLBiz NCLT(MUM) 647
The Mumbai Bench of the National Company Law Tribunal (NCLT) on 12 June held that a successful auction purchaser acquiring a corporate debtor as a going concern during liquidation is not automatically entitled to waivers, concessions, or reliefs sought through an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016.
Case Title : IFCI Ltd. Vs PARAMJEET SINGH BHATIA
Case Number : IA No. 588/2025 IN CP(IB) No.04/ALD/2019
CITATION : 2026 LLBiz NCLT (ALL) 650
The Allahabad Bench of the National Company Law Tribunal (NCLT) on 11 June held that the waterfall mechanism under the Insolvency and Bankruptcy Code, 2016 does not permit artificial sub-classification among secured creditors while distributing proceeds after approval of a resolution plan. Judicial Member Praveen Gupta and Technical Member Ashish Verma partly allowed an application filed by IFCI Ltd. in the Corporate Insolvency Resolution Process (CIRP) of Hind Agro Industries Ltd.
NCLT Bengaluru Approves ₹17.25 Crore Resolution Plan For Dunlop Polymers
Case Title : Miller Trader Pvt. Ltd. vs Dunlop Polymers Pvt. Ltd.
Case Number : I.A (IBC) (Plan) 10/2024 in CP (IB) No.123/BB/2019
CITATION : 2026 LLBiz NCLT (MUM) 651
The Bengaluru bench of the National Company Law Tribunal (NCLT) has approved a ₹17.25 crore resolution plan for Dunlop Polymers Pvt. Ltd. The order brings an end to a corporate insolvency resolution process in which 1,673 days were excluded from the CIRP period.
Mere OTS Proposals, Settlement Talks Cannot Postpone Valid Insolvency Application: NCLT Ahmedabad
Case Title : State Bank of India Vs Varidhi Cotspin Pvt Ltd
Case Number : C.P.(1B)/404(AHM)2025 With IA/870(AHM)2026 & IA/871(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 653
The Ahmedabad bench of the National Company Law Tribunal (NCLT), while dismissing applications filed by a cotton spinning company seeking time to pursue a one-time settlement (OTS), held that OTS proposals, ongoing settlement discussions and identification of prospective purchasers cannot defeat or postpone adjudication of a valid insolvency application.
Case Title : Adesh Kumar Singla
Case Number : I.A.(I.B.C)/ 690 (CH) 2026 in C.P.(IB) No. 129/CHD/Hry/2021
CITATION : 2026 LLBiz NCLT(CHA) 655
The Chandigarh bench of the National Company Law Tribunal (NCLT) has allowed the withdrawal of the Corporate Insolvency Resolution Process (CIRP) against a corporate debtor after its suspended management settled the claims of the sole financial creditor and the operational creditor. Following the settlements, the statutory requirements for withdrawal of the CIRP stood fulfilled.
Case Title : Bank of Baroda Vs IDBI Bank Ltd
Case Number : IA/580(AHM)2021 in CP(IB) 321 of 2020
CITATION : 2026 LLBiz NCLT (AHM) 654
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has recently ruled that a forensic audit report alone cannot deprive a corporate debtor of ownership over money standing in its bank account. It also cannot confer any adjudicated right on a bank to disregard the Insolvency and Bankruptcy Code.
Case Title : Madhura Infra Engineering Pvt. Ltd. Vs. Calyx Lenora Realty LLP
Case Number : IA. (IB) No. 2068 of 2025
CITATION : 2026 LLBiz NCLT (MUM) 656
The National Company Law Tribunal (NCLT), Mumbai, dismissed applications filed by four homebuyers and one operational creditor of Calyx Lenora Realty LLP seeking condonation of delay and admission of claims filed more than 500 days after the prescribed deadline.
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.
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. The tribunal made the observation while dismissing an application filed by St. John Lines PTE Limited against the liquidator of its holding company, St. John Freight Systems Limited.
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. The tribunal made the observation while dismissing an operational creditor's plea seeking to enhance its admitted claim and challenge an approved resolution plan.
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. Company law resources
IBBI
IBBI Introduces Framework For Termination Of Voluntary Liquidation Proceedings
The Insolvency and Bankruptcy Board of India (IBBI) has put in place a formal mechanism for ending voluntary liquidation proceedings before a company is dissolved. The latest changes also tighten the claims process by requiring stakeholders to update claims that have been partly or fully satisfied and by obligating liquidators to explain why any claim has been rejected. The changes have been introduced through the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Second Amendment) Regulations, 2026, which came into force on June 1.
IBBI Introduces Wider Asset Disclosure Requirements For Personal Guarantors
The Insolvency and Bankruptcy Board of India (IBBI) has amended the insolvency resolution and bankruptcy frameworks governing the personal guarantors to corporate debtors. The changes mandate a comprehensive asset disclosure and lay down a mechanism to facilitate asset transfers in related corporate insolvency proceedings. The changes came into force from June 1, 2026, through the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) (Amendment) Regulations, 2026, and the IBBI (Bankruptcy Process for Personal Guarantors to Corporate Debtors) (Second Amendment) Regulations, 2026.
IBBI Requires Going Concern Assessment Reports Before CoC Decides On Continuation Of Operations
The Insolvency and Bankruptcy Board of India (IBBI) has amended the corporate insolvency resolution process framework to require resolution professionals to prepare a Going Concern Assessment Report. This will help the Committee of Creditors (CoC) decide whether the corporate debtor should continue operating during the insolvency process. If operations are to continue, the committee will also determine their scope and duration.