NCLT Ahmedabad Rejects Conart Engineers' Insolvency Plea Against Senores Over Pre Existing Dispute

The Ahmedabad National Company Law Tribunal (NCLT) on 30 July held that an insolvency petition cannot be admitted when a pre existing dispute exists between parties over contractual claims, including certification of bills, recoveries and retention money. A Bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma dismissed Conart Engineers Limited's insolvency petition against Senores Pharmaceuticals Limited, holding that a dispute between the parties existed before the demand...

IBC Is Not A Corporate Death Warrant; Resolution Is Its Primary Objective: Justice Sanjeev Sachdeva

Supreme Court judge Justice Sanjeev Sachdeva on Tuesday said that the Insolvency and Bankruptcy Code should not be viewed as "a corporate death warrant," emphasising that its primary objective is the revival of financially distressed companies through resolution rather than liquidation. Speaking at the launch of IBC Mantra: The Law & Practice of the Insolvency and Bankruptcy Code, authored by Senior Advocate Tarun Gulati and Advocate Kumar Sambhav, Justice Sachdeva said the enactment of the...

Liquidator Not Entitled To Additional Remuneration For Litigation-Related Delay: NCLT Kochi

The National Company Law Tribunal (NCLT) at Kochi has recently held that a liquidator cannot claim additional remuneration beyond the fee prescribed under the statutory framework merely because the liquidation process remained pending due to litigation.The tribunal accordingly dismissed an application filed by the liquidator of Raihan Healthcare Private Limited.A coram of Judicial Member Vinay Goel and Technical Member Ravichandran Ramasamy was hearing an application filed by the liquidator. He...

NCLT Admits PNB's ₹294.65 Crore Claim Against TV Vision, Holds OTS Proposals Extend Limitation Period

The Mumbai Bench of the National Company Law Tribunal (NCLT) on 30 July admitted Punjab National Bank's insolvency application against TV Vision Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016, after finding that the loan transaction qualified as a financial debt and that default was established through documentary evidence. A Bench comprising Judicial Member Nilesh Sharma and Technical Member Sameer Kakar noted that repeated one time settlement (OTS) proposals acknowledging...

NCLAT Sets Aside Liquidator Appointment After NCLT Overlooked CoC's Recommendation

The National Company Law Appellate Tribunal (NCLAT) at Delhi has ruled that an adjudicating authority cannot appoint a liquidator without considering the Committee of Creditors' (CoC) unanimous recommendation. It set aside an NCLT order that independently appointed an insolvency professional from an IBBI panel instead of considering the CoC's choice.A bench of Judicial Member Justice Sharad Kumar Sharma and Technical Members Arun Baroka and Indevar Pandey observed that Section 34(1) of the...

IBC Amendment Removing Interim Moratorium For Personal Guarantors Applies To Pending Cases: Bombay High Court

The Bombay High Court has ruled that a recent amendment removing the automatic interim moratorium available to personal guarantors to corporate debtors under the Insolvency and Bankruptcy Code applies even to pending insolvency proceedings.Justice Somasekhar Sundaresan observed that the amendment, which took effect on May 26, 2026, applies to pending proceedings and operates retroactively, not retrospectively. Rejecting the guarantors' argument that the change applies only to fresh filings, the...

NCLT Ahmedabad Dismisses Insolvency Plea Against Suzlon Energy

The Ahmedabad Bench of the National Company Law Tribunal (NCLT) has recently rejected an insolvency plea against Suzlon Energy Limited. The plea was rejected after finding that the claim was time-barred and arose out of a pre-existing dispute.The petition was filed by Harri Wind Farms, which sought initiation of insolvency proceedings after claiming Rs 9.70 crore towards land procurement, No Objection Certificates (NOCs), and Power Evacuation (PE) connectivity for a proposed 25 MW wind power...

LiveLawBiz IBC Weekly Digest: July 27 - August 1, 2026

SUPREME COURT IBC Moratorium Applies Only To Corporate Debtor, Not Directors Or Promoters: Supreme CourtCase Title : TEJAS J.SHAH & AMISHA T. SHAH & ORS VERSUS MANTRI TECHNOLOGY CONSTELLATIONS PVT.LTD. Case Number : CIVIL APPEAL NOS.4289-4290 OF 2025 CITATION : 2026 LLBiz SC 248The Supreme Court on Monday held that the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016, operates only against the corporate debtor. It ruled that courts or adjudicating authorities...

LiveLawBiz IBC Monthly Digest: July 2026

SUPREME COURT Supreme Court Likens AI Hallucinations To Gas Behind Bhopal Gas Tragedy, Sets Aside CIRP Orders Over Fake Case Law Case Title : POOJA RAMESH SINGH Versus JAMMU AND KASHMIR BANK LTD AND ANR. Case Number : C.A. No. 11950/2025Comparing fake AI-generated legal material to the release of methyl isocyanate (the gas behind the Bhopal gas tragedy), the Supreme Court on Thursday warned that artificial intelligence could become "invisible, insidious, catastrophic" if...

NCLAT Stays NCLT Order Upholding Rejection Of ARCIL's ₹3,482 Crore Claim Against JCT

The National Company Law Appellate Tribunal (NCLAT) has recently kept in abeyance a National Company Law Tribunal (NCLT) order that upheld the Resolution Professional's rejection of Asset Reconstruction Company (India) Ltd.'s (ARCIL) financial claim against textile manufacturer JCT Ltd. The appellate tribunal observed that the issue of limitation must be decided before the committee of creditors (CoC) votes on a resolution plan.A bench of officiating Chairperson Justice Yogesh Khanna and...

Suspended Directors Cannot Operate Company Bank Accounts After CIRP Admission: NCLT Amaravati

The National Company Law Tribunal (NCLT) at Amaravati has held that once a corporate debtor is admitted into the Corporate Insolvency Resolution Process (CIRP), its suspended management has no authority to operate the company's bank accounts or transfer its funds. A coram of Judicial Member Kishore Vemulapalli and Technical Member Umesh Kumar Shukla observed that any operation of the company's bank account or transfer of funds without the Interim Resolution Professional's (IRP) authorisation...

NCLT Delhi Approves Revised Resolution Plan For JNC Constructions After Supreme Court Remand

The Delhi bench of the National Company Law Tribunal (NCLT) has approved the resubmitted resolution plan for JNC Constructions Pvt. Ltd., submitted by Gautam Builders in consortium with Rapid Contracts Pvt. Ltd. The approval comes after the Supreme Court set aside the tribunal's 2020 order and directed the Committee of Creditors (CoC) to reconsider the plan.A coram of Judicial Member Jyotsna Sharma and Technical Member Anu Jagmohan Singh observed that the tribunal's powers while considering a...