NCLT Bengaluru Admits CIRP Against VOI Jeans Retail India Over ₹1.11 Crore Operational Debt Default

The National Company Law Tribunal (NCLT) at Bengaluru has admitted a petition filed by Raymond UCO Denim Pvt Ltd seeking initiation of the corporate insolvency resolution process (CIRP) against VOI Jeans Retail India Pvt. Ltd. for an operational debt of Rs 1.1 crore. A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada passed the order. Raymond UCO Denim, the operational creditor engaged in the business of manufacturing and supplying denim fabrics,...

Haryana RERA Late Fee Cannot Be Refunded In IBC Proceedings Without Challenge Before REAT: NCLT, Kolkata

The National Company Law Tribunal's Kolkata bench has recently observed that once the competent Real Estate Regulatory Authority levies and realizes late fee in exercise of its statutory powers, such levy assumes the character of a statutory charge payable to the State authority and cannot be ordered to be refunded in insolvency proceedings unless it is challenged before the appropriate appellate forum under the RERA law. “Once the competent RERA Authority has levied and realized late fee in...

Personal Guarantor Can Face Insolvency Even If Corporate Debtor Is In Liquidation: NCLT Indore

The National Company Law Tribunal (NCLT) at Indore has recently held that insolvency proceedings can be initiated against a personal guarantor even when liquidation proceedings against the corporate debtor are pending. The tribunal observed that the issue before it was, “whether an Insolvency Resolution Process can be initiated against the Personal Guarantor of a Corporate Debtor when the Liquidation Proceedings against the Corporate Debtor are already pending?” and held that “the above issue...

IBC Moratorium Operates Automatically, Not Dependent On Creditor's Knowledge Of CIRP: NCLT Indore

The National Company Law Tribunal (NCLT) at Indore has recently observed that the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016, operates automatically from the insolvency commencement date and is binding even if the creditor or statutory authority had no knowledge of the admission of the Corporate Insolvency Resolution Process (CIRP). A bench of Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta observed, “The statutory prohibition under...

Kerala High Court Sets Aside Rent Control Appellate Authority Order For Proceeding During IBC Moratorium

The Kerala High Court on Tuesday set aside an order of the Rent Control Appellate Authority after finding that an appeal against a corporate debtor had been taken up despite a moratorium being in force under the Insolvency and Bankruptcy Code. A bench of Chief Justice Soumen Sen and Justice Syam Kumar V.M. observed, “Under Section 14(1), it is clearly stated that once a moratorium is declared, there cannot be an institution of suits or continuation of pending suits or proceedings against the...

Liquidator Cannot Appeal His Own Replacement As He Is Not 'Person Aggrieved' Under IBC: NCLAT

The National Company Law Appellate Tribunal (NCLAT) on Tuesday held that a liquidator cannot maintain an appeal challenging his replacement under the Insolvency and Bankruptcy Code (IBC), ruling that removal from such a statutory assignment does not create a vested entitlement to continue in office.A bench of Chairperson Justice Ashok Bhushan and Technical Member Indevar Pandey observed, “It is well settled that once the Adjudicating Authority, for reasons recorded, directs replacement of a...

NCLAT Upholds Rejection Of Homebuyer's Claim Filed 4 Days Before CoC Vote On Resolution Plan For Developer

The National Company Law Appellate Tribunal (NCLAT) at Delhi on Tuesday upheld the rejection of a homebuyer's claim filed four days before a Committee of Creditors (CoC) meeting to vote on resolution plan, noting that under the CIRP Regulations, belated claims can be admitted only if they are submitted up to seven days before such meetings. A bench of Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra observed, "When we look at the above CIRP Regulations, it is amply clear that...

Suspended Management Cannot Order Independent Forensic Audits To Challenge CIRP Claims: NCLAT New Delhi

On Tuesday 10 March, the Principle Bench of the National Company Law Appellate Tribunal (NCLAT) at New Delhi held that a forensic audit report commissioned by suspended management is inadmissible due to bias, conflict of interest, and a breach of the Committee of Creditors (CoC) confidentiality.A Bench comprising Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra, was hearing an appeal by the suspended management of Chandigarh Overseas Pvt. Ltd. challenging the inadmissibility of...

NCLT Bengaluru Issues Notice To Flipkart On Insolvency Plea Alleging Rs 4.37 Crore Default

The National Company Law Tribunal (NCLT) at Bengaluru on Wednesday issued notice to Walmart-owned e-commerce company Flipkart Internet Pvt. Ltd. on an insolvency petition alleging a default of Rs 4.37 crore under the Insolvency and Bankruptcy Code, 2016. The petition has been filed by Netambit Value First Services Pvt. Ltd., an operational creditor, under Section 9 of the Code. A bench of Judicial Member Mahendra Khandelwal and Technical Member Ravindra Chaturvedi issued the notice after...

NCLT Mumbai Orders Dissolution Of Dr Lal PathLabs Subsidiary Suburban Diagnostics After Voluntary Liquidation

The National Company Law Tribunal (NCLT) at Mumbai has ordered the dissolution of Suburban Diagnostics (India) Pvt Ltd, a subsidiary of Dr Lal PathLabs, after the successful completion of its voluntary liquidation process under the Insolvency and Bankruptcy Code.A bench comprising Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar passed the order while noting that the process was conducted in “accordance with law”. “This Bench is satisfied that the voluntary liquidation...

NCLT Cuttack Dismisses SREI Trust Plea To Recall OSPIL CIRP Admission, Resolution Plan Orders; Imposes ₹1 Lakh Cost

The National Company Law Tribunal's Cuttack bench on Tuesday dismissed a recall application filed by SREI Multiple Asset Investment Management Trust seeking recall of the orders admitting Odisha Slurry Pipeline Infrastructure Ltd (OSPIL) into insolvency and approving its resolution plan. The tribunal held that the attempt amounted to an abuse of the legal process and reflected a lackadaisical attitude.A bench comprising Acting President Deep Chandra Joshi and Technical Member Banwari Lal Meena...

IBBI Introduces Electronic Forms To Monitor Insolvency Processes Of Personal Guarantors

The Insolvency and Bankruptcy Board of India (IBBI) on March 6, 2026, introduced a set of electronic forms to monitor insolvency resolution processes involving personal guarantors to corporate debtors under the Insolvency and Bankruptcy Code, 2016.As per the circular, resolution professionals currently submit periodic updates regarding such processes through emails which, the Board noted is “time-consuming and inefficient”. To address this, the IBBI has developed a set of electronic forms which,...