Liquidator Cannot Outsource Core Duties: NCLT Hyderabad Directs Deloitte To Refund ₹7.48 Crore In Lanco Case

The National Company Law Tribunal (NCLT), Hyderabad, has held that while liquidation rules allow a liquidator to appoint professionals to assist in the process, that power cannot be used to outsource the liquidator's own statutory duties or claim payments beyond the prescribed fee structure. Applying this principle, the tribunal directed Deloitte Touche Tohmatsu India LLP to refund ₹7.48 crore to Lanco Infratech's liquidation estate. Under the liquidation framework, Regulation 7 permits a...

Pending Avoidance Applications No Bar To Dissolution Of Corporate Debtor: NCLT Hyderabad

The Hyderabad Bench of the National Company Law Tribunal (NCLT) on 6 May held that pendency of avoidance applications, including those relating to preferential, undervalued, fraudulent and extortionate (PUFE) transactions, cannot preclude dissolution of a corporate debtor under Section 54 of the Insolvency and Bankruptcy Code, 2016, particularly in view of Regulation 44A of the Liquidation Process Regulations. Judicial Member Justice Rajeev Bhardwaj and Technical Member Sanjay Puri allowed an...

Decision On Corporate Debtor's Leased Premises Falls Within CoC's Commercial Wisdom: NCLT Kochi

On 8 May 2026, the National Company Law Tribunal (NCLT), Kochi held that the decision on whether leased premises occupied by a corporate debtor should be retained or vacated during CIRP or liquidation falls within the commercial wisdom of the Committee of Creditors (CoC). Judicial Member Vinay Goel passed the order and disposed of the application by directing the CoC to convene a meeting within 15 days and take a considered decision on the issue of continuation or vacation of the premises. He...

NCLT Guwahati Allows Successful Resolution Applicant To Continue Avoidance Proceedings After CIRP Conclusion

The National Company Law Tribunal (NCLT) at Guwahati has permitted Peerless Hospitex Hospital and Research Center Limited, the successful resolution applicant for Ayursundra Hospital (Guwahati) Private Limited, to prosecute a pending avoidance application after the conclusion of the Corporate Insolvency Resolution Process by substituting the Resolution Professional. The tribunal held that the approved resolution plan, read with subsequent implementation decisions, contemplated continuation of...

NCLT Proceedings Time Excludable Under Section 14 Limitation Act: Calcutta High Court

The Calcutta High Court on 6 May held that the time spent prosecuting insolvency proceedings before the National Company Law Tribunal (NCLT) is liable to be excluded under Section 14 of the Limitation Act, 1963, even where a Section 9 application under the Insolvency and Bankruptcy Code, 2016 (IBC) is rejected on the ground of pre-existing dispute. Justice Aniruddha Roy allowed a commercial suit filed by Jones Lang LaSalle Property Consultants (India) Pvt Ltd against M. A. Leasing and...

Fraudulent Inventory Write-Off To Conceal Non-Existent Stock Attracts Section 66 Liability: NCLT Mumbai

The Mumbai Bench of the National Company Law Tribunal (NCLT) on 7 May held that the write-off of inventory worth Rs. 10,83,69,000 by Nagraj Alloys Private Limited during CIRP was a fraudulent transaction intended to conceal non-existent stock and defraud creditors, thereby attracting liability under Section 66(1) of the Insolvency and Bankruptcy Code, 2016. Technical Member Prabhat Kumar and Judicial Member Sushil Mahadeorao Kochey allowed the application filed by the Resolution Professional,...

NCLAT Delhi Refuses CIRP Against Indorama Ventures, Holds Pre-Existing Disputes Bar Section 9 Plea

The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 6 May held that a Section 9 application under the Insolvency and Bankruptcy Code, 2016 (IBC) cannot be maintained where genuine pre-existing disputes exist between the parties regarding contractual performance, liquidated damages and statutory deductions. Chairperson Justice Ashok Bhushan and Technical Member Indevar Pandey dismissed the appeal filed by Rattan Singh Builders Pvt. Ltd. (RSB) against Indorama Ventures...

NCLT Mumbai Criticises Mediaman Infotech Former RP For Seeking CIRP Extension To Keep 'Assignment In Hand'

The National Company Law Tribunal (NCLT) at Mumbai has criticised the erstwhile Resolution Professional in the insolvency of Mediaman Infotech Private Limited, observing that his attempt to extend the Corporate Insolvency Resolution Process beyond 180 days appeared aimed at continuing his assignment as Resolution Professional. The Bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar observed: “It is further noted that, no expression of interest was received in...

Separate CIRP For Another Project Of Same Builder Cannot Be Initiated Through Interlocutory Pleas: NCLT Bengaluru

The Bengaluru Bench of the National Company Law Tribunal (NCLT) on 28 April held that a separate Corporate Insolvency Resolution Process (CIRP) for another real estate project cannot be initiated through interlocutory applications in an already admitted insolvency proceeding. Judicial Member Justice Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada ruled that the Insolvency and Bankruptcy Code, 2016 (IBC) permits initiation of CIRP only through independent applications under...

Invoice Dues, Supply Advances Can Be Clubbed As Operational Debt Under IBC: NCLT Chennai

The Chennai Bench of the National Company Law Tribunal (NCLT) on 28 April held that outstanding invoice dues and advance payments made towards supply of goods can be clubbed together as “operational debt” under the Insolvency and Bankruptcy Code, 2016 (IBC) for the purpose of maintaining a petition under Section 9 of the IBC. Technical Member Venkataraman Subramaniam and Judicial Member Sanjiv Jain admitted the application filed by Enmas India Pvt. Ltd. seeking initiation of Corporate...

NCLT Mumbai Holds Water Supply And Service Charges To RIICO Not CIRP Costs

The National Company Law Tribunal (NCLT) at Mumbai on 5 May held that water supply charges and industrial service/maintenance charges payable to Rajasthan State Industrial Development & Investment Corporation Ltd. (RIICO) do not qualify as Corporate Insolvency Resolution Process (CIRP) costs under the Insolvency and Bankruptcy Code, 2016. Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar partly allowed RIICO's application seeking payment of dues from Shrivallabh...

Show Cause Notice Does Not Create Enforceable Debt Claimable In Liquidation: NCLT Ahmedabad

The Ahmedabad bench of the National Company Law Tribunal (NCLT) has recently held that a show cause notice is merely a proposal to determine liability and does not create an enforceable debt while dismissing the Commissioner of Customs' delayed Rs 1.63 crore claim against Spel Granito Pvt. Ltd. in liquidation. Judicial Member Shammi Khan and Technical Member Sanjeev Sharma observed: “A Show Cause Notice is only a proposal to determine liability and does not create an enforceable or adjudicated...