SUPREME COURT
Case Title : MOHD NAZIM KHAN vs HDFC BANK LIMITED AND ORS.
Case Number : C.A. 12083/2026
The Supreme Court on Wednesday refused to interfere with a National Company Law Appellate Tribunal (NCLAT) order holding that a Committee of Creditors' decision on an Interim Resolution Professional's remuneration is subject to judicial scrutiny. However, after examining the decision on merits, the NCLAT upheld the CoC's decision to fix the IRP's total remuneration at ₹3 lakh. A Division Bench of Justices P.S. Narasimha and Alok Aradhe after hearing the parties, refused to interfere with the NCLAT order.
Case Title : ASMITHA MICROFIN LIMITED VS. RESERVE BANK OF INDIA
Case Number : DIARY NO. - 48051/2026
The Supreme Court on Thursday issued notice on a challenge to a National Company Law Appellate Tribunal (NCLAT) ruling that refused to allow an NBFC to initiate insolvency proceedings against itself. The tribunal held that the company remained a financial service provider despite cancellation of its Reserve Bank of India (RBI) registration under the Insolvency and Bankruptcy Code (IBC).
IBC Appeal Limitation Runs From NCLAT Order, Not Receipt Of Certified Copy: Supreme Court
Case Title : EMPLOYEE S PROVIDENT FUND ORGANIZATION VERSUS COC OF VAS DATA SERVICES PVT. LTD.
Case Number : Diary No(s). 32869/2026
The Supreme Court has recently ruled that the limitation period for an appeal against an NCLAT order would run from the date the order is provided, and not from the date a certified copy is obtained. “Assuming that under the NCLAT Rules, 2016, there is an obligation to provide copy of the order to the parties, the period of limitation would run from the date when the order is provided under NCLAT Rules, 2016, and not from the date when certified copy is obtained,” a Division Bench of Justice Manoj Misra and Justice Vijay Bishnoi observed.
HIGH COURT
Bombay High Court Quashes Insolvency Professional's Suspension Over SCN Based On Extraneous Material
Case Title : Jitender Kumar Jain Versus Union of India & Ors.
Case Number : WRIT PETITION (L) NO. 2817 OF 2025
CITATION : 2026 LLBiz HC (BOM) 491
The Bombay High Court has quashed an Insolvency and Bankruptcy Board of India (IBBI) Disciplinary Committee order suspending insolvency professional Jitender Kumar Jain's authorisation for assignment for three months. The court found that the show-cause notice issued to Jain was based on material outside the investigation conducted against him. A Bench of Justice Manish Pitale and Justice Shreeram V. Shirsat delivered the judgment on August 25, 2026.
NCLAT
Practising CA Not Ineligible To Submit Resolution Plan Merely By Profession: NCLAT Delhi
Case Title : Vinay Gupta Vs Oswal Minerals Limited & Satellite Cables Pvt. Ltd
Case Number : Company Appeal (AT) (Insolvency) 1038/2026 & 1032/2024
CITATION : 2026 LLBiz NCLAT 345
The National Company Law Appellate Tribunal (NCLAT), Delhi has dismissed appeals filed by suspended directors of Satellite Cables Pvt. Ltd., holding that a practising Chartered Accountant cannot be treated as ineligible to submit a resolution plan merely by virtue of being a Chartered Accountant. A Bench of Judicial Member Justice Mohd Faiz Alam Khan and Technical Member Arun Baroka also held that procedural irregularities in a Corporate Insolvency Resolution Process (CIRP) must be shown to have materially affected the approval of a resolution plan to sustain a challenge under Section 61 of the Insolvency and Bankruptcy Code (IBC).
NCLAT Closes Insolvency Process Despite Failure Of Statutory Withdrawal Mechanism
Case Title : Deepak Modi Vs Shalfeyo Industries Private Limited
Case Number : Company Appeal (AT) (Insolvency) 222/2025
CITATION : 2026 LLBiz NCLAT 346
The National Company Law Appellate Tribunal at New Delhi, has closed the insolvency proceedings against Shalfeyo Industries Private Limited. It held that although the statutory mechanism for withdrawing the proceedings under Section 12A could not be completed, keeping the Corporate Insolvency Resolution Process alive would serve no meaningful purpose.
NCLAT Quashes Guarantor Insolvency Proceedings Filed Before Different NCLT Bench Than CIRP
Case Title : Kamlesh Rani Singla Vs Praveen Kumar Garg & Ors
Case Number : Company Appeal (AT) (Insolvency) 275/2026
CITATION : 2026 LLBiz NCLAT 347
The National Company Law Appellate Tribunal (NCLAT) at New Delhi, has quashed insolvency proceedings against a personal guarantor after finding that the corporate debtor's Corporate Insolvency Resolution Process (CIRP) was pending before another NCLT Bench. The bench of Judicial Member Justice Sharad Kumar Sharma and Technical Members Arun Baroka and Indevar Pandey held that where the CIRP of a corporate debtor is pending before one NCLT Bench, proceedings concerning its personal guarantor must be filed before the same Bench under Section 60(2) of the Insolvency and Bankruptcy Code, 2016 (IBC).
'Clean Slate' Protection U/S 32A IBC Extends To Going Concern Buyers During Liquidation: NCLAT Delhi
Case Title : AMITKUMAR RISHI KUMAR BHABHDA & Ors Vs AMIT CHANDRASHEKHAR PODDAR & Ors
Case Number : Company Appeal (AT) (Insolvency) 221/2026
CITATION : 2026 LLBiz NCLAT 349
The Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 9 September held that the “clean slate” protection under Section 32A of the Insolvency and Bankruptcy Code, 2016 (IBC) extends to buyers who purchase a corporate debtor as a going concern during liquidation.
NCLAT Delhi Says Resolution Applicant's Death Is Not Liquidation Ground, Revives Genius Exports CIRP
Case Title : ARUN KUMAR SINGH Vs GENIUS EXPORTS PRIVATE LIMITED & Ors
Case Number : Company Appeal (AT) (Insolvency) 1699/2025 & 1700/2025; 1701 & 1702 of 2025
CITATION : 2026 LLBiz NCLAT 348
On 9 September, the National Company Law Appellate Tribunal (NCLAT), New Delhi held that the death of a resolution applicant before approval of a resolution plan does not, by itself, justify liquidation of the corporate debtor, particularly when a withdrawal application under Section 12A of the Insolvency and Bankruptcy Code, 2016 (IBC) based on a settlement is pending.
Case Title : North Life Spaces LLP Vs Dalal Family Private Trust
Case Number : Company Appeal (AT) (Insolvency) 1610/2025
CITATION : 2026 LLBiz NCLAT 350
The National Company Law Appellate Tribunal (NCLAT) at Delhi, has ruled that a deposit expressly made “without prejudice” to a debtor's rights and contentions cannot, by itself, be treated as an unconditional admission of liability. The bench of Judicial Member Justice N. Seshasayee and Technical Member Indevar Pandey observed, “A deposit expressly made without prejudice cannot, by itself, be treated as an unconditional admission of a liability, particularly when the appellant had already raised specific objections to the maintainability of the proceedings. At the best it only indicates that the appellant is solvent and not insolvent to initiate CIRP.”
NCLT President Can Transfer Cases Across Territorial Jurisdictions: NCLAT
Case Title : Kamlesh Rani Singla Vs Praveen Kumar Garg & Ors
Case Number : Company Appeal (AT) (Insolvency) 275/2026
CITATION : 2026 LLBiz NCLAT 347
The National Company Law Appellate Tribunal (NCLAT), New Delhi has ruled that the President of the National Company Law Tribunal (NCLT) can transfer a case from one bench to another even when the benches are in different territorial jurisdictions. The bench comprising Judicial Member Justice Sharad Kumar Sharma, Technical Member Arun Baroka and Technical Member Indevar Pandey held that Rule 16(d) of the NCLT Rules, 2016 does not restrict the President's power to transfers within the same territorial jurisdiction.
NCLAT Upholds ₹4.37 Crore Liability On Linkson International Suspended Directors Over Round-Tripping
Case Title : Yashwant Lalchand Sangla Vs Manish Baldeva
Case Number : Company Appeal (AT) (Insolvency) 830/2024
CITATION : 2026 LLBiz NCLAT 351
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has upheld a ₹4.37 crore contribution ordered against suspended directors of Linkson International Ltd., finding that money raised through property loans was routed back to the company and its related entities. “It appears to be a crystal-clear case of round-tripping of money, and the sole purpose of it was to defraud the creditors,” the tribunal observed.
Later Amendment Cannot Retrospectively Alter Liquidation Process Already Commenced: NCLAT
Case Title : State Bank of India Vs Garden Court Distilleries Pvt Ltd & Akhil Ahuja,
Case Number : Company Appeal (AT) (Insolvency) 1138/2026 & 1145/2026
CITATION : 2026 LLBiz NCLAT 352
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has ruled that a later regulatory amendment cannot retrospectively alter a liquidation process that had already commenced. It held that the rights and obligations arising from the process must be determined under the regulations in force when the liquidation order was passed.
NCLT
Expiry Of Lease After Resolution Plan Approval Not Related To Insolvency Process: NCLT Mumbai
Case Title : IDBI BANK LIMITED VS POWERDEAL ENERGY SYSTEMS INDIA PRIVATE LIMITED
Case Number : C.P. (IB)/4072(MB)2019
CITATION : 2026 LLBiz NCLT (MUM) 867
The National Company Law Tribunal's (NCLT) Mumbai Bench has held that a dispute over handing over possession after expiry of a lease period does not arise out of or relate to the insolvency resolution of a Corporate Debtor when the lease period expires after approval of its resolution plan. "Accordingly, it cannot be said that the issue of handing over on expiry of lease period is arising out of or in relation to the insolvency resolution of the Corporate Debtor. Since, the cause of action has arisen after approval of the Resolution Plan, we do not consider that non handing over the possession of premises by Respondent No. 1 and 2 after determination of lease period results into obstruction in the implementation of the approved resolution plan," the court ruled.
NCLT Indore Rejects Colama Commercial's Intervention Plea In Satiate Agri Insolvency
Case Title : Colama Commercial Co Ltd Vs Satiate Agri Ltd & Its Board
Case Number : Inv.P/8(MP)2026 in CP(IB)/77(MP)2026
CITATION : 2026 LLBiz NCLT(IND) 870
The Indore Bench of the National Company Law Tribunal (NCLT) on 20 August dismissed an intervention application filed by Colama Commercial Co. Ltd. in the insolvency proceedings initiated by Excellence Finance Pvt. Ltd. against Satiate Agri Ltd.
NCLT Ahmedabad Admits Fettech Commercial Enterprises' Insolvency Plea Against Mercury Trade Links
Case Title : Fettech Commercial Enterprises Pvt Ltd Vs Mercury Trade Links Ltd
Case Number : C.P.(IB)/24(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 871
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 1 September admitted the insolvency petition filed by Fettech Commercial Enterprises Pvt. Ltd. against Mercury Trade Links Ltd. A Bench comprising Judicial Member Chitra Hankare and Technical Member Dr VG Venkata Chalapathy observed: “...we are satisfied that there exists an operational debt of Rs.2,70,00,000/- and that a default has occurred. The debt is due and payable, the demand notice has been served to the CD and no genuine preexisting dispute has been established by the Corporate Debtor.”
Loan Paid To Director's Account Not Company Debt Without Proof Of Corporate Borrowing: NCLT Chennai
Case Title : Rajesh Kumar Saraf HUF v. Veremax Technologie Services Ltd
Case Number : CP(IB)/202(CHE)/2024
CITATION : 2026 LLBiz NCLT(CHE) 874
The National Company Law Tribunal (NCLT) at Chennai has held that a loan directly disbursed into the personal bank account of a company's director cannot be treated as a financial debt of the company without supporting evidence. The creditor must establish that the borrowing was undertaken by the company and that the funds were received or utilised by it for its business.
NCLT Ahmedabad Directs Gensol RP To Hand Over 10 EVs To Mahindra Finance During CIRP
Case Title : Mahindra and Mahindra Financial Services Limited Vs Keshav Khaneja RP for Gensol Engineering Limited & Anr
Case Number : IA/1294(AHM)2025 in C.P.{IBY/195(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 873
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 20 August partly allowed an application filed by Mahindra & Mahindra Financial Services Limited (MMFSL) concerning 17 electric vehicles (EVs) allegedly retained by Gensol Engineering Limited during its Corporate Insolvency Resolution Process (CIRP).
NCLT Bengaluru Approves Promoters' ₹18.34 Crore Resolution Plan For Sanjeevini Medlife Hospitals
Case Title : Sanjeevani Medlife Hospitals (India) Private Limited
Case Number : IA(Plan) No. 02/ 2025
CITATION : 2026 LLBiz NCLT(BEN) 878
The National Company Law Tribunal (NCLT), Bengaluru, on 13 August approved a resolution plan submitted by the erstwhile promoters of Sanjeevini Medlife Hospitals (India) Private Limited, a Micro, Small and Medium Enterprise (MSME), after the Committee of Creditors approved the plan with 100% voting share.
Liquidator Cannot Admit Unadjudicated PF Dues Based On Departmental Estimates: NCLT Ahmedabad
Case Title : Regional Provident Fund Commissioner Vs Pankaj Prabhudayal Goenka
Case Number : IA/1032(AHM)2026 in CP(IB) 781 of 2019
CITATION : 2026 LLBiz NCLT (AHM) 880
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 17 August 2026 held that uncrystallised and provisional provident fund demands cannot be enforced in liquidation, upholding the Liquidator's decision to admit only Rs. 1.68 lakh of provident fund dues and reject the balance claim of Rs. 1.77 crore.
IBC Section 96 Moratorium Is Debtor-Centric, Not Debt-Specific: NCLT Guwahati
Case Title : UCO Bank v. Satyawan Sarma
Case Number : CP(IB)/24/GB/2026
CITATION : 2026 LLBiz NCLT(GUA) 881
The National Company Law Tribunal (NCLT) at Guwahati on 14 August held that the interim moratorium under Section 96 of the Insolvency and Bankruptcy Code, 2016 (IBC) protects a personal guarantor as a whole, and not just against a particular debt. It therefore barred a fresh insolvency application against the guarantor while an earlier application was pending.
Cloud Storage Sale-and-Leaseback Qualifies As Financial Lease Under IBC: NCLT Allahabad
Case Title : Achhru Ram Jindal & Ors. v. M/s Zebyte Rental Planet Private Limited
Case Number : August 20, 2026
CITATION : 2026 LLBiz NCLT(ALL) 882
The National Company Law Tribunal, Allahabad Bench has held that a sale-and-leaseback arrangement created through two linked agreements constituted a “financial lease” under the Insolvency and Bankruptcy Code, 2016. The arrangement involved applicants first purchasing cloud storage units from Vuenow Marketing Services Limited (VMSL) and then leasing the same units to Zebyte Rental Planet Private Limited for 10 years in return for monthly payments.
NCLT Ahmedabad Rejects A.R. Company's Insolvency Plea Against Sadbhav Engineering
Case Title : A. R. COMPANY Vs Sadbhav Engineering Limited
Case Number : COMPANY PETITION (IB) 72 (AHM) 2024
CITATION : 2026 LLBiz NCLT (AHM) 883
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 19 August dismissed an insolvency petition filed by A.R. Company against Sadbhav Engineering Limited over unpaid dues arising from the supply of road and building construction materials
Corporate Debtor Cannot Use Dispute Between Lenders To Delay Insolvency Proceedings: NCLT Kochi
Case Title : Indian Bank v. M/s Aks Cold Storage Ltd
Case Number : CP(IBC)/19/KOB/2026
CITATION : 2026 LLBiz NCLT(KOC) 884
The National Company Law Tribunal (NCLT) at Kochi bench has ruled that a borrower cannot use a dispute between consortium lenders over restructuring to block insolvency proceedings. This is so when the financial debt and default are otherwise established.
NCLT Mumbai Approves ₹1,611-Crore Resolution Plan For Gstaad Hotels, Dismisses Objections
Case Title : JAYESH SANGHRAJKA Vs SHREE NAMAN DEVELOPERS PRIVATE LIMITED
Case Number : IA (IBC) (PLAN) No. 42 of 2026 IN CP (IB) 291 of 2023
CITATION : 2026 LLBiz NCLT (MUM) 885
The Mumbai bench of the National Company Law Tribunal has approved Shree Naman Developers Private Limited's ₹1,611-crore resolution plan for Gstaad Hotels Private Limited. Gstaad Hotels owns the JW Marriott hotel in Bengaluru
NCLT Mumbai Dismisses Jet Airways Plea Seeking $92M Refund From Boeing Over Undelivered Aircraft
Case Title : Jet Airways (India) Limited vs The Boeing Company
Case Number : I.A. 2737 of 2026 & I.A. 3221 of 2026 IN C.P. (IB) No. 2205 of 2019
CITATION : 2026 LLBiz NCLT (MUM) 887
The Mumbai Bench of the National Company Law Tribunal (NCLT) has dismissed the Liquidator of Jet Airways' plea seeking a refund of $92.129 million, or about ₹500 crore, paid to Boeing as advance and pre-delivery payments for aircraft that were never delivered. The tribunal comprising Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar held that the dispute revolved around the parties' aircraft purchase agreements and could not be adjudicated in its limited jurisdiction under the Insolvency and Bankruptcy Code (IBC).
NCLT Indore Rejects Oswal Woollen Mills Insolvency Plea Against EKI Energy
Case Title : Oswal Woollen Mills Ltd Vs Eki Energy Services Ltd
Case Number : CP(IB)/56(MP)2025
CITATION : 2026 LLBiz NCLT(IND) 888
The Indore Bench of the National Company Law Tribunal (NCLT) has dismissed Oswal Woollen Mills Ltd.'s insolvency petition against EKI Energy Services Ltd., a carbon-credit developer and supplier. The petition concerned alleged unpaid dues arising from the supply of Certified Emission Reductions (CERs).
NCLT Ahmedabad Directs Restoration Of Gensol EV Lease's GST Registration During CIRP
Case Title : Keshav Khaneja Vs Mahendra Singh
Case Number : IA/989(AHM)2026 in C.P.(IB)/[199(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 889
The Ahmedabad bench of the National Company Law Tribunal has directed the GST authorities to restore the GST registration of Gensol EV Lease Limited during its Corporate Insolvency Resolution Process (CIRP). The bench held that the cancellation shall not operate against the company during CIRP, observing that the GST registration “has a direct bearing upon the statutory compliances” and may materially affect the Resolution Professional's ability to manage the company's affairs.