SUPREME COURT
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.
HIGH COURT
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.
NCLAT
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
NCLT
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 (KOL) 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.