NCLAT Revives Culver Max's Insolvency Plea Against Fintech Firm Over Sony LIV Marketing Dues

The National Company Law Appellate Tribunal (NCLAT) at Delhi recently revived an insolvency case filed by Culver Max Entertainment Private Limited, the company formerly known as Sony Pictures Network India, against the firm Odishsa based Rechargekit fintech over unpaid dues arising from the marketing of Sony LIV premium subscription plans. The Appellate Tribunal ruled that the insolvency court could not have rejected the plea without first providing Culver Max a mandatory opportunity to fix...

Unpaid Salary Cannot Trigger Insolvency If Converted Into Investment Through Settlement: NCLT Delhi

The National Company Law Tribunal (NCLT) at New Delhi, has recently ruled that salary dues converted into an investment/loan through a settlement cannot be treated as an operational debt under the Insolvency and Bankruptcy Code. The tribunal dismissed a Section 9 insolvency petition filed by a former director against a real estate company. A bench of Judicial Member Bachu Venkat Balaram Das and Technical Member Dr Sanjeev Ranjan held that once unpaid salary is consciously recast as an...

IBC Jurisdiction Depends On Debtor's Registered Office, Not Bank Branch That Issued Notices: NCLT Kochi

The National Company Law Tribunal (NCLT) at Kochi recently held that insolvency proceedings can be initiated only before the bench having jurisdiction over the place where the corporate debtor's registered office is located, and not based on the bank branch that issued demand or recovery notices. A coram comprising Judicial Member Vinay Goel said this while dealing with a jurisdictional objection raised by a Kerala based corporate debtor. Reaffirming its jurisdiction to settle the dispute,...

CIRP Plea Of Operational Creditor Fails If Debt Is Recorded As Disputed With Information Utility: NCLAT

The National Company Law Appellate Tribunal (NCLAT) at New Delhi has recently reiterated that once a debt is recorded as “disputed” with an Information Utility, insolvency courts have no discretion to examine the merits of the dispute and must reject a Section 9-CIRP plea under the Insolvency and Bankruptcy Code . A bench of Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra of the dismissed an appeal filed by Accurate Transheat Pvt. Ltd., upholding the order of the...

LiveLawBiz: Business Law Daily Round-Up: December 28, 2025

TAX Delhi High Court Grants Bail To Accountant Accused Of Running Fake Firms, Passing Fraudulent ITC On ₹5 Lakh BondITAT Flags Mismatch Between Stock & Sales Of Jewellery Firm During Demonetisation Period, Orders Fresh ExaminationDelhi High Court Allows Use Of Transitional CENVAT Credit For Mandatory Pre-Deposit Before CESTATOnce GST Appeal Is Filed On Portal, No Mandatory Requirement To File Hard Copy Or Certified Copy Of Order: J&K&L High CourtGST Refund Claim Cannot Be Rejected...

LiveLawBiz: Business Law Daily Round-Up: December 27, 2025

TaxWorks Contract Service Provided To CESC For Transmission Or Distribution Of Electricity Not Liable To Service Tax: CESTAT KolkataRemuneration Paid To Whole-Time Directors Treated As 'Salary'; Service Tax Not Leviable: CESTAT Chennai Limitation Not “Extinguishing Engine' For Substantive Rights: Calcutta High Court Condones 2262 Day Delay In Filing Appeal GST | Mismatch In E-Way Bill Destination Is Substantive Violation, Not Bonafide Error: Madhya Pradesh High Court No Service Tax Payable On...

Acceptance of Goods Does Not End Pre-Existing Dispute If Quality Issues Emerge After Use: NCLT Ahmedabad

The National Company Law Tribunal (NCLT) at Ahmedabad recently ruled that accepting and consuming goods does not, by itself, erase a dispute. Quality defects that emerge after consumption can still qualify as a valid pre-existing dispute under insolvency law. A bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma passed the order on December 19, 2025, while dismissing a Section 9 CIRP application filed by Hella Infra Market Metal Private Limited against SMW Ispat Private...

Interest Stated In Invoices Not Counted To IBC Threshold Without Debtor's Acceptance : NCLT Delhi

The National Company Law Tribunal (NCLT) at New Delhi recently reiterated that interest mentioned only in invoices cannot be counted for meeting the insolvency threshold unless there is clear evidence that the corporate debtor accepted liability to pay such interest. A bench of Judicial Member Mahendra Khandelwal and Technical Member Anu Jagmohan Singh observed, “Merely because the interest is mentioned in the invoices it cannot be operated against the Corporate Debtor if there is no document...

Homebuyers Cannot Be Forced To Act As Resolution Applicants To Complete Their Own Project: NCLT Kolkata

The National Company Law Tribunal (NCLT) at Kolkata has stepped in on the insolvency resolution of Riverbank Developers Pvt Ltd. It held that homebuyers cannot be forced to step into the shoes of a resolution applicant just because a housing project remains incomplete. The tribunal made it clear that the objective of insolvency proceedings is timely and fair resolution, not the imposition of additional financial or construction obligations on homebuyers who lack the means or willingness to...

IBC Annual Digest 2025- Part 1

Supreme CourtHomebuyers File Review Petition Against Supreme Court Judgment Holding Greater Noida Industrial Authority A 'Secured Creditor' Under IBC Case Title: Blossom Zest Flat Buyers Welfare Association v. Greater Noida Industrial Development Authority and Ors. A plea has been filed before the Supreme Court seeking review of its judgment dated February 12, 2024 which classified Greater Noida Industrial Development Authority as a 'secured creditor' for the purposes of Corporate...

Cheque Dishonour Prosecution Barred When Accounts Are Blocked By Insolvency Law: Delhi High Court

The Delhi High Court has quashed three criminal cases linked to cheque dishonour, reiterating that cheques returned with the remark “account blocked” due to insolvency proceedings cannot lead to criminal prosecution.A single bench of Justice Neena Bansal Krishna passed the order while allowing petitions filed by Farhad Suri and Dhiren Navlakha, directors of Sumeru Processors Pvt. Ltd. The court said the section 138 of the Negotiable Instruments Act pertaining to cheque dishonor apply only when a...

NCLT Mumbai Grants Interim Protection To Provogue Liquidator From Arrest Over IBC Actions

The National Company Law Tribunal (NCLT) at Mumbai recently protected a liquidator from arrest by the Economic Offences Wing in a dispute arising from actions taken under the Insolvency and Bankruptcy Code. The tribunal said that section 236 of the Code bars courts from taking cognisance of IBC offences unless a complaint is filed by the Insolvency and Bankruptcy Board of India or the Central Government. The court, comprising Judicial Member Lakshmi Gurung and Technical Member Hariharan...