NCLT Delhi Admits Prudent ARC CIRP Plea Against Super Property, Says No Bar From Transferred Winding-Up

The New Delhi Bench of the National Company Law Tribunal (NCLT) on 16 June admitted an insolvency petition filed by Prudent ARC Ltd against Super Property Maintenance Pvt Ltd, holding that transferred winding-up proceedings, where no irreversible steps have been taken, do not bar initiation of Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The Bench of President Justice Anupinder Singh Grewal and Technical Member Ravindra observed: “Further,...

IBC Overriding Effect Not Available For Restructuring Outside Approved Resolution Plan: NCLT Hyderabad

The Hyderabad Bench of the National Company Law Tribunal (NCLT) on 12 June held that post-approval restructuring measures cannot claim the overriding effect of the Insolvency and Bankruptcy Code, 2016 unless they form part of the approved resolution plan. Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri dismissed an application filed by successful resolution applicant Krishna Kumar Haridas seeking directions to permit post-resolution capital restructuring of Fenoplast Ltd,...

NCLT Delhi Initiates CIRP Against Nirvikar Films LLP, Includes Undisputed Interest In Debt Calculation

The New Delhi Bench of the National Company Law Tribunal (NCLT) on 12 June held that interest stipulated in invoices and credit notes forms part of operational debt when the Corporate Debtor does not dispute it, and can be included while computing the statutory threshold under the Insolvency and Bankruptcy Code, 2016. President Justice Anupinder Singh Grewal and Technical Member Ravindra Chaturvedi admitted the Section 9 petition filed by Zenith Media Scope Pvt. Ltd. and ordered commencement...

NCLT Ahmedabad Rejects Plea On Preferential, Fraudulent Transactions Due To Failure Of Service

The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 12 June held that applications under Sections 43 and 66 of the Insolvency and Bankruptcy Code, 2016 cannot be adjudicated in the absence of valid service on respondents, as such adjudication would violate principles of natural justice. Judicial Member Shammi Khan and Technical Member Sanjeev Sharma dismissed an application filed by Omkarchand R. Maloo, Liquidator of Intelligent Textile Engineers Pvt. Ltd., seeking directions on...

NCLT Mumbai Rejects JM Financial ARC Insolvency Plea, Holds DRT Review Order Does Not Extend Limitation

The National Company Law Tribunal (NCLT), Mumbai on 23 June 2026 dismissed JM Financial Asset Reconstruction Company Ltd's Section 7 insolvency petition against Shubh Hospitality Pvt Ltd, holding that a Debt Recovery Tribunal (DRT) review order correcting errors in an earlier judgment does not extend the limitation period under the Insolvency and Bankruptcy Code, 2016. A Bench comprising Judicial Member K.R. Saji Kumar and Technical Member Sanjiv Dutt observed: “In other words, the Ld. DRT has...

NCLT Admits Bank of India Insolvency Plea Against Supreme Engineering, Rejects Section 10A Defence

On 23 June, the Mumbai Bench of the National Company Law Tribunal (NCLT) admitted Bank of India's Section 7 petition against Supreme Engineering Limited over a default of Rs. 117.50 crore, holding that Section 10A of the Insolvency and Bankruptcy Code, 2016 does not shield post-COVID defaults from insolvency proceedings. Judicial Member Nilesh Sharma and Technical Member Sameer Kakar admitted the petition, imposed a moratorium and appointed S. Gopalakrishnan as the Interim Resolution...

NCLAT Stays Insolvency Proceedings Against Vikram Solar

The National Company Law Appellate Tribunal (NCLAT) on Wednesday stayed the National Company Law Tribunal's (NCLT) order admitting insolvency proceedings against Vikram Solar Ltd. It also directed the company to deposit ₹91.98 lakh pending further hearing. A bench of Judicial Member Mohd Faiz Alam Khan and Technical Member Barun Mitra noted an earlier NCLAT order in Nishant Avinash Fadia v. Raspalfa Services Private Limited, which the Supreme Court did not interfere with. Keeping in view the...

Calcutta High Court Bars WBSEDCL From Seeking Pre-CIRP Late Surcharge From SRA For New Electricity Connection

The Calcutta High Court has recently held that West Bengal State Electricity Distribution Company Limited (WBSEDCL) could not insist that Pinax Paper Mills Private Limited pay pre-CIRP Late Payment Surcharge (LPSC) before granting a fresh electricity connection after approval of the company's resolution plan. Justice Ravi Krishan Kapur held that the successful resolution applicant was entitled to the benefit of the "clean slate" principle and that claims not forming part of the approved...

GST Compliance Services During CIRP Qualify As IRP Costs, But Fees Must Be Reasonable: NCLT Kolkata

The National Company Law Tribunal (NCLT) at Kolkata has held that GST compliance services rendered during a corporate insolvency resolution process may form part of insolvency resolution process costs when they are necessary for running the corporate debtor as a going concern. However, the tribunal declined to direct payment of an additional claim of ₹6.48 lakh after finding the fees sought were unreasonable in light of the work performed. A coram of Judicial Member Bidisha Banerjee and...

NCLT Allahabad Clears GSW Enterprises' ₹95 Crore Resolution Plan For Hind Agro Industries

The Allahabad bench of the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by G.S.W. Enterprises Private Limited for Hind Agro Industries Limited. The plan provides for payment of ₹95 crore towards settlement of stakeholder claims. It also envisages ₹200 crore towards working capital and capital expenditure over a five-year period. The bench of Judicial Member Praveen Gupta and Technical Member Ashish Verma passed the order. The tribunal observed that once...

NCLT Ahmedabad Orders Return Of Leased EVs In Gensol EV Lease's Insolvency

The Ahmedabad bench of the National Company Law Tribunal (NCLT) has directed Omega Seiki Mobility Private Limited to hand over the remaining leased electric vehicles in its possession, custody, or control belonging to Gensol EV Lease Limited, which is undergoing insolvency proceedings.While directing it to return the leased electric vehicles, the tribunal declined to decide Gensol EV Lease Limited's claim for about ₹1.14 crore in dues. It left the rival monetary claims open. The bench of...

NCLT Ahmedabad Refuses To Reverse Debtor's Transfer As Preferential Transaction, Says It Was Bank's Unilateral Act

The Ahmedabad bench of the National Company Law Tribunal (NCLT) has dismissed an application by Bank of Baroda, acting on behalf of the lenders of Sintex Prefab & Infra Ltd (SPIL), seeking reversal of a ₹26.79 crore transfer from the company's account as a preferential transaction. The tribunal found that the transfer was not shown to have been initiated, authorised or directed by the corporate debtor and was instead a unilateral act of IDBI Bank. A bench of Judicial Member Shammi Khan...