Oppression Must Be Continuous, Ex Shareholder Cannot File Oppression Plea: NCLT Chennai

The National Company Law Tribunal (NCLT) at Chennai recently reiterated that oppression must be continuous and ongoing and that a person who has ceased to be a shareholder cannot file a plea alleging oppression and mismanagement. A coram of Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy said such remedies are available only to existing members whose rights are presently affected. The tribunal said, “Oppression under Section 241 must be continuous, ongoing,...

NCLT Bengaluru Dismisses Insolvency Plea Over Rs 428 Crore Claim Against Atria Group Firm

The National Company Law Tribunal (NCLT) at Bengaluru has dismissed an insolvency plea seeking to recover over Rs. 428 crore from Atria Group's renewable energy arm, Atria Brindavan Power. The plea was filed by Piramal Capital and Housing Finance Limited and Omkara Assets Reconstruction Private Limited. It said the case was about recovering money, not resolving insolvency.A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada found that the insolvency process...

Insolvency Threshold For Transferred Cases Depends On Filing Date, Not Transfer Date: NCLT Bengaluru

The National Company Law Tribunal (NCLT) at Bengaluru has recently held that winding-up and insolvency cases transferred from High Courts continue to be governed by the monetary threshold that applied when they were first filed, and not by the higher limits introduced later. The tribunal made this ruling in a dispute between logistics firm Schenker India Private Limited and Lapp India Private Limited. A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada...

Arbitral Award Holder Must Return Amount Withdrawn From Court After Insolvency Resolution: Bombay High Court

The Bombay High Court has held that where an arbitral award passed against a company is under challenge, and the company later successfully comes out of insolvency, the award holder cannot retain money withdrawn from court deposits if the claim itself is wiped out under an approved resolution plan. The court said such amounts must be returned, as the award itself no longer survives. A single-judge bench of Justice Somasekhar Sundaresan, in an order dated December 17, 2025, allowed an interim...

LiveLawBiz: Business Law Daily Round-Up: January 01, 2026

TAX CBI Court Convicts Central Excise Inspector In Disproportionate Assets Case, Awards 5 Yrs Imprisonment & ₹63 Lakh Fine; Wife Jailed For Abetment Gujarat High Court Grants Relief After Transfer Pricing Objections Were Mistakenly Filed Before Wrong Authority, Quashes Final AssessmentTree Plantation & Maintenance In Non-Forest Areas By Charitable Trust Exempt From GST: Gujarat AAR Transfer Pricing | Comparables With Non-Export Operations Can't Be Benchmarked Against Export-Only...

Refunds Under Vivad Se Vishwas Scheme Cannot Be Enforced Under Insolvency Jurisdiction: NCLT Chennai

The National Company Law Tribunal (NCLT) at Chennai has held that refunds claimed under the Vivad Se Vishwas–I Scheme, a government COVID-19 relief measure that allows MSMEs to seek return of most performance guarantees forfeited during the pandemic, cannot be enforced through insolvency proceedings under Section 60(5) of the Insolvency and Bankruptcy Code. In a recent order, the tribunal said that such claims must be dealt with by the authorities implementing the scheme and not by an...

Liquidator Cannot Claim Fee On SARFAESI Realisations Outside Liquidation Estate: NCLT Ahmedabad

The National Company Law Tribunal (NCLT) at Ahmedabad recently held that when a secured creditor enforces its security interest under the SARFAESI Act without involving the liquidator, the amount realised does not form part of the liquidation estate. The liquidator therefore count in that sale to compute the liquidator's fee.A coram of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma, while dealing with an application filed by liquidator Ramesh Kumar Totla against State Bank of...

Bidder Who Stayed Outside Restored CIRP Lacks Locus To Challenge Approved Resolution Plan: NCLT Kolkata

The National Company Law Tribunal (NCLT) at Kolkata , has recently held that a bidder who joined the first round of the insolvency process but stayed out of the second, restored round cannot later challenge a resolution plan approved by lenders. A coram of Judicial Member Labh Singh and Technical Member Rekha Kantilal Shah, in an order dated December 3, observed that participation in the restored CIRP process is essential to challenge the same. The tribunal said, “A bidder or applicant who...

Common Resolution Professional For Group Companies Not Barred Under IBC: NCLT Mumbai

The National Company Law Tribunal (NCLT) at Mumbai recently held that the Insolvency and Bankruptcy Code, 2016 does not prohibit the appointment of a single resolution professional for companies belonging to the same corporate group. According to the tribunal, such an appointment does not by itself create a conflict of interest. A coram of Judicial Member Lakshmi Gurung and Technical Member Hariharan Neelakanta Iyer, while dismissing a plea seeking removal of a common resolution professional,...

LiveLawBiz: Business Law Daily Round-Up: December 31, 2025

TAX Kerala High Court Grants Bail To Accused Caught In ₹5,000 Land Tax Bribery Trap By VigilanceCustoms | I-STAT Blood Gas Cartridges Are Accessories Of Analyser And Not Diagnostic Reagents; No Differential Duty Payable: CESTAT MumbaiNo Interest On Excise Duty Payable In Revenue-Neutral Situation Even Though Duty Demand Attained Finality: Calcutta High CourtCustoms | Barcode Scanners With Ancillary Mobile Features Not Classifiable As Smartphones; Exempted From Basic Duty: CESTAT New DelhiGST |...

IBBI Makes Beneficial Ownership Disclosure Mandatory for Insolvency Resolution Applicants

The Insolvency and Bankruptcy Board of India (IBBI) has made it mandatory for companies bidding to take over insolvent firms to clearly disclose who ultimately owns or controls them, also known as their beneficial owners.The change was notified on December 22, 2025, and applies to bidders taking part in the corporate insolvency resolution process. The amended rules were published in the Gazette of India on December 23, 2025. Under the new regulations, every resolution applicant must submit a...

Raw Material Advances Made During Insolvency To Keep the Company Running Are CIRP Costs: NCLT Delhi

The National Company Law Tribunal (NCLT) at New Delhi has held that advances paid for the supply of raw material under a job work arrangement can be treated as corporate insolvency resolution process costs if they were necessary to keep the corporate debtor functioning as a going concern during CIRP. A coram of President Justice Ramalingam Sudhakar and Technical Member Ravindra Chaturvedi was dealing with a dispute between Teneron Limited, a supplier of aluminium raw material, and Metenere...