SUPREME COURT
Case Title : The Committee of Creditors of Think & Learn Pvt Ltd vs Riju Raveendran & Ors
Case Number : C.A. 2594/2026
The Supreme Court on Monday reserved its verdict on a challenge by the Committee of Creditors (CoC) against its exclusion from proceedings concerning a plea to remove GLAS Trust Company LLC from the CoC of Think & Learn Pvt. Ltd. The challenge arises from the NCLAT's February 24, 2026, order concerning the CoC's impleadment in the proceedings initiated by former Byju's director Riju Ravindran.
Case Title : ANSHUL GUPTA VS. INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
Case Number : DIARY NO. - 57176/2026
The Supreme Court on Monday issued notice on a plea filed by insolvency professional Anshul Gupta challenging the National Company Law Appellate Tribunal's (NCLAT) order holding that an insolvency professional whose registration is suspended cannot continue to act in other ongoing insolvency proceedings. A Bench of Justices Manoj Misra and Vijay Bishnoi, however, did not stay the NCLAT order and directed the appellate tribunal to decide Gupta's appeal in the meantime.
Supreme Court Directs Impleadment Of CoC In Plea To Remove GLAS Trust From Byju's CoC
Case Title : The Committee of Creditors of Think and Learn Private Limited Versus Riju Ravindran and Ors.
Case Number : Civil Appeal No.2594 of 2026
CITATION : 2026 LLBiz SC 318
The Supreme Court has recently directed the Committee of Creditors (CoC) of Think & Learn Pvt Ltd. to be impleaded in proceedings concerning a plea by suspended director Riju Ravindran seeking removal of GLAS Trust Company LLC from the CoC. A division bench of Justices J.B. Pardiwala and K. Vinod Chandran taking into account the consent of the parties, directed that IA No. 466 of 2025, which was reserved for orders on Riju Ravindran's plea concerning the removal of GLAS Trust from the CoC, be listed before the NCLT Bengaluru within two weeks with the CoC impleaded and heard.
HIGH COURT
Case Title : P.D Vincent v. State of Kerala and Ors
Case Number : WP(Crl) No. 1434 of 2026
CITATION : 2026 LLBiz HC(KER) 185
The Kerala High Court on Tuesday directed authorities to keep coercive proceedings against the Resolution Professional of Kerala Housing Finance Limited (KHFL) in abeyance in cases concerning the company. It, however, clarified that proceedings against the other accused can continue. Justice G. Girish passed the interim order on a petition filed by P.D. Vincent, the Resolution Professional of KHFL, which was admitted into the Corporate Insolvency Resolution Process (CIRP) by the NCLT Kochi in September 2019.
NCLAT
NCLAT Delhi Says Counsel's Personal Difficulties Cannot Explain Appellant's 202-Day Refiling Delay
Case Title : RAJENDRA DEVIDAS PURANIK
Case Number : Company Appeal (AT) (Insolvency) 326/2026
CITATION : 2026 LLBiz NCLAT 361
Conversion of IBC Appeal Into Companies Act Appeal Does Not Save Limitation: NCLAT
Case Title : Anjaniputra Ispat Ltd. Vs IAG Company Ltd & Trust Estate Khimji Keshwaji
Case Number : Company Appeal (AT) 39/2026
CITATION : 2026 LLBiz NCLAT 363
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently held that an appeal filed under the insolvency law does not provide continuity for limitation when it is transformed into an appeal under the company law. The tribunal was dealing with an appeal initially filed under Section 61 of the Insolvency and Bankruptcy Code (IBC), which provides for appeals against orders in insolvency proceedings. The appellant later sought to convert it into an appeal under Section 421 of the Companies Act, 2013, which provides for appeals against orders passed in company law proceedings.
NCLAT Orders ₹54 Crore Refund To JFC Finance After It Is Outbid In Moser Baer Solar Auction
Case Title : ARVIND GARG Vs JFC FINANCE (INDIA) LIMITED
Case Number : I.A. No. 4727 of 2026 in Comp. App. (AT) (Ins) No. 1820 of 2025
CITATION : 2026 LLBiz NCLAT 365
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has rejected a plea by the Liquidator of Moser Baer Solar Ltd. seeking to keep JFC Finance (India) Ltd.'s ₹54 crore deposit until the highest bidder in a fresh auction pays the entire sale consideration. A bench of Officiating Chairperson Justice Yogesh Khanna and Technical Member Barun Mitra held that JFC's deposit had to be returned once another bidder surpassed its bid, as specifically directed in the court's earlier order.
Case Title : Bhumika Nilay R. Shah & Ors Vs Prawincharan Prafulcharan Dwary & Ors
Case Number : Company Appeal (AT) (Insolvency) 702/2026, 703/2026, 704/2026
CITATION : 2026 LLBiz NCLAT 364
The National Company Law Appellate Tribunal (NCLAT) has ruled that personal guarantors of an insolvent company cannot re-agitate the extent of their liability under a Deed of Guarantee after the Debt Recovery Tribunal (DRT) has already adjudicated the issue and its order has attained finality.
Subhash Chandra Moves NCLAT Against Restraint On Alienating Assets In Insolvency Case
Case Title : Dr. Subhash Chandra Personal Guarantor VS Shiv Nandan Sharma Resolution Professional
Case Number : Company Appeal(AT)(Ins) 1818/2026
Case Title : Narendra Kishanlal Bubna v. Nakul Kishanlal Bubna & Ors
Case Number : Company Appeal (AT) No. 307 of 2026
CITATION : 2026 LLBiz NCLAT 366
The Principal Bench of the National Company Law Appellate Tribunal (NCLAT) at New Delhi, has held that a party's past inaction cannot influence adjudication of a matter on merits once the proceedings are being considered on merits.
NCLAT Declines To Interfere With Talent Unlimited CIRP, Grants Affle Liberty To Move NCLT
Case Title : Affle 3i Limited Vs Axis Trustee Services Limited & Talent Unlimited Online Services Private Limited
Case Number : Company Appeal (AT) (Insolvency) 1474/2026
CITATION : 2026 LLBiz NCLAT 368
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has declined to interfere with the order admitting Talent Unlimited Online Services Pvt. Ltd. into the Corporate Insolvency Resolution Process (CIRP). It has, however, given Affle 3i Limited liberty to approach the National Company Law Tribunal (NCLT) with a proper application under Section 65 of the Insolvency and Bankruptcy Code (IBC).
NCLAT Directs NCLT To Hear RP Replacement Plea Before Resolution Plan In Nimitaya Hotel CIRP
Case Title : Indian Bank Vs Nimitaya Hotel & Resorts Ltd
Case Number : Company Appeal (AT) (Insolvency) 1591/2026, 1592/2026, 1593/2026
CITATION : 2026 LLBiz NCLAT 367
The National Company Law Appellate Tribunal (NCLAT) at Delhi has directed the NCLT to first consider Indian Bank's application seeking replacement of the Resolution Professional (RP) in the insolvency proceedings of Nimitaya Hotel & Resorts Ltd. before taking up the Bank's applications seeking dismissal of the existing resolution plan and permission to issue a fresh Form-G. (expression of interest)
Mere Effect Of IBC Order On Property Possession Does Not Make It A Landlord-Tenant Matter: NCLAT
Case Title : DUKE FASHIONS (INDIA) LTD. Vs PRAMOD KUMAR MISRA & Ors
Case Number : Company Appeal (AT) (Insolvency) 1462/2026 & 1475/2026
CITATION : 2026 LLBiz NCLAT 369
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has reiterated that an insolvency dispute does not become a landlord-tenant dispute merely because an order under the Insolvency and Bankruptcy Code (IBC) affects possession of a property.
CoC's Commercial Wisdom Must Be Respected In Replacing Resolution Professional: NCLAT
Case Title : S. VISWANATHAN Vs CANARA BANK
Case Number : Company Appeal (AT) (Insolvency) 191/2022 & 231/2022
CITATION : 2026 LLBiz NCLAT 370
The National Company Law Appellate Tribunal (NCLAT) at Chennai has recently held that while a Resolution Professional (RP) must function independently and not at the whims of a dominant creditor, the Committee of Creditors' (CoC) majority view on replacing an RP must be respected.
NCLT
Case Title : Punjab National Bank v. M/s Shree Sai Prakash Alloys Pvt. Ltd.
Case Number : IA(IBC)/126/GB/2024 in CP(IB)/24/GB/2019
CITATION : 2026 LLBiz NCLT (GUA) 924
The National Company Law Tribunal (NCLT), Guwahati, on 10 September held that an unaccepted One-Time Settlement (OTS) proposal made before liquidation cannot be enforced as a matter of right to stop subsequent liquidation proceedings.
CLB Order Does Not Become Unenforceable Merely Because Forum Ceased To Exist: NCLT Guwahati
Case Title : 3A Capital Services Limited v. Prag Bosimi Synthetics Ltd. & Ors.
Case Number : CP/13/GB/2024 along with IA (Comp. Act)/11/GB/2025.
CITATION : 2026 LLBiz NCLT (GUA) 925
The National Company Law Tribunal (NCLT), Guwahati, on 16 September held that the abolition of the erstwhile Company Law Board (CLB) does not render a final order passed by the CLB incapable of enforcement.
Liquidation Pendency Cannot Confer Jurisdiction Over Property Outside Liquidation Estate: NCLT Delhi
Case Title : Vikas Chopra Vs Vivek Parti
Case Number : IA-383/2026 in Company Petition (IB) No. – 1680 (PB)/2019
CITATION : 2026 LLBiz NCLT(DEL) 926
The Delhi Bench of the National Company Law Tribunal (NCLT) on 3 September held that the mere pendency of liquidation proceedings does not confer jurisdiction on the Adjudicating Authority to determine an independent dispute over possession of immovable property that does not form part of the liquidation estate.
NCLT Mumbai Rejects SBI's ₹1,759 Crore Insolvency Plea Against Patanjali Foods Guarantor
Case Title : State Bank of India Versus Mr. Dinesh Shahra
Case Number : C.P. (IB) NO. 385/MB/2023
CITATION : 2026 LLBiz NCLT (MUM) 928
The National Company Law Tribunal (NCLT), Mumbai, has rejected State Bank of India's insolvency plea against Dinesh Shahra, personal guarantor for Patanjali Foods Ltd., formerly known as Ruchi Soya Industries Ltd. The tribunal held that SBI's petition over a debt of ₹1,759 crore was filed after the limitation period had expired. A coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar held that SBI's March 21, 2023 insolvency petition was not maintainable, as the limitation period had expired on February 26, 2023.
NCLT Delhi Issues Notice To CBI In Subhash Chandra's Personal Guarantor Insolvency Case
Case Title : Indiabulls Housing Finance Limited vs Dr Subhash Chandra
Case Number : IB-97/ND/2022
The Delhi Bench of the National Company Law Tribunal (NCLT) on Wednesday issued notice to the Central Bureau of Investigation (CBI) in proceedings concerning a repayment plan proposed for Essel Group Chairman Emeritus Dr Subhash Chandra in his capacity as a personal guarantor of his group companies.
Case Title : Indiabulls Housing Finance Limited vs Dr Subhash Chandra
Case Number : IB-97/ND/2022
The Delhi bench of the National Company Law Tribunal (NCLT) at Delhi on Wednesday orally remarked that the tribunal's functioning could come to a “standstill” if it had to hear the repayment plan proposed by Essel Group Chairman Subhash Chandra during regular court hours, amid the need for more Members.
Case Title : Pink City Fincap Private Limited v. Arthmate Tech Private Limited
Case Number : C.P. (IB) No. 257/KB/2025 along with I.A. (IB) No. 414/KB/2026.
CITATION : 2026 LLBiz NCLT (KOL) 929
The National Company Law Tribunal (NCLT) at Kolkata recently held that a financial creditor cannot demand premature redemption of Optionally Convertible Debentures (OCDs) when the contractual terms give the right of early redemption exclusively to the corporate debtor.
Secured Creditors Cannot Avoid Liquidation Costs Over Unfinalised Expenses: NCLT Chennai
Case Title : SPP Insolvency Professional LLP (IPE), Liquidator of Sri Lakshmi Saraswathi Spintex Ltd. v. Punjab National Bank
Case Number : IA (IBC) No. 1906/(CHE)/2025 in CP (IBC) No. 252/(CHE)/2022
CITATION : 2026 LLBiz NCLT (CHE) 931
The National Company Law Tribunal (NCLT) at Chennai has ruled that a secured creditor that chooses to realise its security under Section 52 of the Insolvency and Bankruptcy Code (IBC) cannot avoid its obligation to contribute towards liquidation costs merely because the expenses have not been finally determined.
Another Creditor Moves NCLT Delhi Against Bira Beer Maker Over ₹7.24 Crore Default
Case Title : Cheer Breweries Ltd. V/s B9 Beverages Ltd
Case Number : IB/426/ND/2026
Case Title : Sandeep Kumar Bhagat v. Punjab National Bank and Ors
Case Number : IA(IBC)/124/GB/2024
CITATION : 2026 LLBiz NCLT(GUA) 932
The National Company Law Tribunal (NCLT), Guwahati, on 10 September refused to direct Punjab National Bank (PNB) to accept a Rs. 22.50 crore One-Time Settlement (OTS) proposal made by Sandeep Kumar Bhagat in relation to three companies undergoing liquidation.
NCLT Mumbai Dismisses Insolvency Plea Against Shapoorji Pallonji
Case Title : UNITON INFRA PRIVATE LIMITED vs SHAPOORJI PALLONJI AND COMPANY PRIVATE LIMITED
Case Number : CP (IB) No.470/MB/2024
CITATION : 2026 LLBiz NCLT (MUM) 934
The National Company Law Tribunal (NCLT) at Mumbai has dismissed Uniton Infra Pvt. Ltd.'s ₹4.31 crore insolvency plea against Shapoorji Pallonji and Company Pvt Ltd, holding that the alleged operational debt was not due and payable under the parties' payment terms.
NCLT Ahmedabad Appoints Forensic Auditor To Verify ₹1.34 Crore Deposit In Gensol-Mufin Dispute
Case Title : Keshav Khaneja Vs Mufin Green Finance Limited
Case Number : IA/1349(AHM)2026 in C.P.(IB)/195(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 939
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 14 September appointed CA Anmol Bindra as an Independent Forensic Auditor to verify the adjustment of Rs. 1,34,14,800 furnished by Gensol Engineering Limited to Mufin Green Finance Limited.
Personal Guarantor Cannot Avoid Liability By Claiming No Personal Benefit From Loan: NCLT Indore
Case Title : The COSMOS Co-Op. Bank Ltd. Vs Rajendra Singhal
Case Number : CP(IB)/40(MP)2025
CITATION : 2026 LLBiz NCLT(IND) 941
The Indore Bench of the National Company Law Tribunal (NCLT) on 9 September held that a personal guarantor cannot avoid liability under a guarantee merely by claiming that he derived no personal or pecuniary benefit from the loan facilities availed by the corporate debtor.
Tribunal Cannot Rewrite Operational Creditor's Case: NCLT Mumbai
Case Title : Alliance Advertising and Marketing Pvt. Ltd. Vs Eduisfun Technologies Pvt Ltd
Case Number : C.P. (IB)/828(MB)2026
CITATION : 2026 LLBiz NCLT (MUM) 944
The National Company Law Tribunal (NCLT) at Mumbai has held that it cannot rewrite an operational creditor's insolvency case by separating invoices, determining different dates of default, and recalculating the debt when the creditor itself refused to amend its Section 9 application.
Case Title : Punjab National Bank v. Mr. Reji Abraham
Case Number : CP(IB)/177(CHE)/2026
CITATION : 2026 LLBiz NCLT (CHE) 945
The National Company Law Tribunal (NCLT) at Chennai has held that it cannot exercise extra-territorial jurisdiction over a personal guarantor where the underlying corporate debtors are foreign entities with no registered office in India.
“This Code being domestic legislation of limited territorial reach, confers no extra territorial jurisdiction upon the Adjudicating Authority to adjudicate obligations arising from entities situated beyond the sovereign and statutory framework of India. The Foreign Company though recognized for a certain limited Regulatory purposes under Chapter XXII of the Companies Act, 2013 do not become a Company within the meaning of Section 2(20) of the Companies Act, 2013 and cannot be brought within the fold of Section 3(7) of IBC without any express inclusion of a Foreign Company as a Corporate Debtor ” the tribunal observed.