No Eviction While Lease Dispute Pending: NCLAT Grants Relief To Rose Constructions

The National Company Law Appellate Tribunal (NCLAT) in Delhi has set aside an order against Rose Constructions, holding that it cannot be treated as an encroacher while its claim of lawful possession under a lease deed is still pending adjudication. A bench of Judicial Member Justice N. Seshasayee and Technical members Arun Baroka and Indevar Pandey said, “There are two aspects: (a) I.A. 1197 of 2019 which is premised on the legitimacy of the lease deed dated 20.12.2017 and other is I.A. 2738...

NCLAT Bars Recovery Of Premises Occupied By Future Lifestyle In Kolkata Mall During CIRP

The National Company Law Appellate Tribunal (NCLAT) at Delhi has refused to allow recovery of premises occupied by Future Lifestyle Fashion Ltd, the Kishore Biyani-led company, in a Kolkata mall during its insolvency process. The court held that such possession is protected under the moratorium.Dismissing an appeal by Sudha Apparels Ltd, the tribunal held that since the Resolution Professional (RP) was in possession of the leased premises during the Corporate Insolvency Resolution Process...

NCLT Ahmedabad Rejects Time-Barred Voluntary Insolvency Plea By Personal Guarantor, Flags Attempt To Stall Recovery

The Ahmedabad bench of the National Company Law Tribunal (NCLT) has dismissed a voluntary insolvency application by a personal guarantor (Section 94 of the Insolvency and Bankruptcy Code, 2016), holding that the plea was barred by limitation and filed with the intent to stall recovery proceedings under the SARFAESI Act. The bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma observed: “The timing of the present application, coupled with the fact that the Personal Guarantor...

NCLT Chandigarh Rejects Omkara ARC's Claim In Vikas WSP CIRP, Holds Creditors Cannot Override IBC Timelines

The Chandigarh Bench of the National Company Law Tribunal (NCLT) on 10 March dismissed an application filed by Omkara Assets Reconstruction Pvt. Ltd. seeking admission of its claim as a secured financial creditor in the corporate insolvency resolution process (CIRP) of Vikas WSP Ltd. A Bench comprising Judicial Member Khetrabasi Biswal and Technical Member Kaushalendra Kumar Singh held that the claim, filed 1,267 days after the prescribed deadline and after the Committee of Creditors (CoC)...

NCLAT New Delhi Lays Down Illustrative Factors For Withdrawal Of CIRP Before CoC Formation

The National Company Law Appellate Tribunal (NCLAT) on 6 April laid down illustrative guidelines for adjudicating authorities while considering applications for withdrawal of Corporate Insolvency Resolution Process (CIRP) under Section 12A of the Insolvency and Bankruptcy Code (IBC) before the constitution of the Committee of Creditors (CoC). A Bench comprising Judicial Member Justice N. Seshasayee and Technical Members Arun Baroka and Indevar Pandey held that once CIRP is admitted, the...

No Power Under IBC To Order TDS Refund; Issue To Be Decided By Income Tax Dept.: NCLAT

The National Company Law Appellate Tribunal (NCLAT) at Chennai has recently observed that tribunals under the Insolvency and Bankruptcy Code (IBC), 2016 cannot order a refund of Tax Deducted at Source (TDS) and that such issues must be decided by the Income Tax Department, even in cases involving companies under liquidation. A bench of Judicial Member Justice Sharad Kumar Sharma and Technical Member Jatindranath Swain made the observation while dismissing an appeal filed by S. Dhanapal, the...

Delhi High Court Issues Notice On Plea Challenging 'Present and Voting' Framework Under IBC

The Delhi High Court recently issued notice in a writ petition filed by homebuyers of the Supertech Township project challenging the “present and voting” principle used to determine voting outcomes of homebuyers in the committee of creditors under the Insolvency and Bankruptcy Code.A bench of Chief Justice Devendra Kumar Upadhyaya and Justice Tejas Karia directed the respondents, the Union of India through the Ministry of Corporate Affairs, the Insolvency and Bankruptcy Board of India, interim...

IBC Amendment 2026 Gets Presidential Assent, Introduces Creditor-Led Insolvency

The Insolvency and Bankruptcy Code (Amendment) Act, 2026 received Presidential assent on Monday, ushering in a creditor-initiated insolvency resolution process, tighter statutory timelines, and a larger role for the Committee of Creditors (CoC) during liquidation.One of the additions is the insertion of Chapter IV-A, introducing a creditor-initiated insolvency resolution process (CIIRP). Under Sections 58A and 58B, specified financial creditors holding at least 51% in value can initiate...

PMLA Attachment Does Not Suspend Liquidator's Duty To Preserve Corporate Debtor's Assets: NCLT Mumbai

The National Company Law Tribunal (NCLT) at Mumbai has recently observed that a liquidator's obligation to preserve and protect assets forming part of the liquidation estate continues despite attachment under the Prevention of Money Laundering Act (PMLA), so long as such assets are not confiscated.A bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Sanjiv Dutt was dealing with an application filed by Kohinoor City Office Towers Industrial Estate & Premises Co-operative...

NCLAT Allows NCLT To Decide Deceased Depositor's Claim Without Awaiting Probate

Holding that issues relating to repayment and retention of deposits made by a deceased depositor fall within the jurisdiction of the National Company Law Tribunal, the National Company Law Appellate Tribunal (NCLAT), Chennai, has allowed an appeal by a claimant and remanded the matter for fresh consideration without awaiting the outcome of pending probate proceedings. A bench of Judicial member Justice Sharad Kumar Sharma and Technical Member Jatindranath Swain clarified that questions...

Sole Financial Creditor Can't 'Jump In and Out' Of CIRP; No Claim Withdrawal After CoC Entry: NCLT Mumbai

Holding that a sole secured financial creditor cannot ''jump in and jump out" of the corporate insolvency resolution process (CIRP), the National Company Law Tribunal (NCLT) at Mumbai emphasised that such conduct would undermine the scheme and objectives of the Insolvency and Bankruptcy Code (IBC).A bench of Judicial Member K.R. Saji Kumar and Technical Member Anil Raj Chellan was hearing an application filed by SREI Equipment Finance Ltd. seeking withdrawal of its claim and exit from the...

Supreme Court Issues Notice In Homebuyers' Writ Against Ansal Properties' ₹257 Crore Default

The Supreme Court on Monday, 6 April, issued notice in a writ petition filed by the Genuine Homebuyers Association for Relief (GHAR), in Uttar Pradesh, challenging the insolvency proceedings against Ansal Properties and Infrastructure Ltd in relation to the Sushant Golf City project in Lucknow. A Bench of Justices J.B. Pardiwala and K.V. Viswanathan, after hearing the homebuyer association, directed that the petition be tagged with the main matter involving Ansal Properties. Advocate Prashant...