NCLT Bengaluru Gives Ola Electric 4 Weeks For Objections In ₹9.84 Crore Insolvency Case With Anevolve

On Monday, 6 April, the Bengaluru Bench of the National Company Law Tribunal (NCLT) heard an insolvency petition filed by Anevolve Mando Emobility Pvt Ltd against Ola Electric Technologies Pvt Ltd under Section 9 of the Insolvency and Bankruptcy Code, over an alleged operational debt of Rs. 9.84 crore arising from the supply of motors.Before a Bench comprising Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada, Anevolve stated that it had issued a demand notice under...

NCLT Allahabad Confirms Flat Possession To Renaissance Realty, Orders ₹1 Crore To JAL Insolvency Estate

The Allahabad Bench of the National Company Law Tribunal (NCLT), while deciding an application filed by Renaissance Realty, acknowledged that the applicant had already received possession of a flat in the Jaypee Greens Kalypso Court project. A Bench of Judicial Member Praveen Gupta and Technical Member Ashish Verma also ordered that Rs. 1 crore recovered under RERA proceedings be returned to the insolvency estate of JAL. It observed: “In the circumstances of the present case, since the...

Supreme Court Declines To Interfere With Adani Plan For Jaiprakash, Urges NCLAT To Expedite Vedanta Appeals

The Supreme Court on Monday, 6 April, declined to interfere with the implementation of the resolution plan submitted by Adani Enterprises for Jaiprakash Associates Ltd, and directing the National Company Law Appellate Tribunal (NCLAT) to expedite hearing of the appeals filed by Vedanta Ltd, scheduled for 10 April. A Bench of Chief Justice Surya Kant and Justice Joymalya Bagchi said: “In view of the fact that Company Appeal AT (Ins) 552, 553 of 2026 are now listed for final hearing before the...

CIRP Petition By Non-Existent Entity Not Maintainable Post Amalgamation: NCLAT Chennai

The Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) on 2 April, held that a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by a non-existent entity is not maintainable, particularly where the entity had been dissolved pursuant to an approved scheme of amalgamation prior to initiation of proceedings.Section 9 allows operational creditors, such as suppliers, employees, or service providers , to initiate the Corporate Insolvency Resolution...

Operational Creditors Cannot Seek Resolution Plan Disclosure At Pre-Approval Stage: NCLT Ahmedabad In JAL CIRP

The Allahabad Bench of the National Company Law Tribunal (NCLT) has recently held that operational creditors cannot seek disclosure of a resolution plan or liquidation value at the pre-approval stage under the Insolvency and Bankruptcy Code while rejecting a plea arising out of the insolvency of JaiPrakash Associates Limited.Notably, The resolution plan for the company was approved on March 17 in separate proceedings and is under challenge before the National Company Law Appellate Tribunal.A...

Default Is A Singular Event, Not Continuing: NCLAT Sets Aside Insolvency Admission Against Deccan Chronicle Guarantor

The National Company Law Appellate Tribunal (NCLAT) at Chennai recently rejected a creditor's attempt to treat a loan default as a “continuing guarantee” to overcome limitation, holding that default under the Insolvency and Bankruptcy Code is a singular event that cannot be stretched to revive time-barred proceedings, especially where the demand notice itself records a specific date of default A bench of Judicial Member Justice Sharad Kumar Sharma and Technical Member Jatindranath Swain...

NCLAT Rejects Successful Bidder's Plea For Post-Sale Reliefs In Veda Biofuel Liquidation

The National Company Law Appellate Tribunal (NCLAT) at Chennai has recently upheld the rejection of post-sale reliefs sought by MS Biotech Pvt. Ltd., finding that a bidder who enters an auction on an “as is where is” basis cannot later turn around and ask for concessions beyond what was agreed. A bench of Judicial Member Justice Sharad Kumar Sharma and Technical Member Jatindranath Swain dismissed the company's appeal against the NCLT, Amravati Bench order dated July 3, 2025. MS Biotech had...

IBC Moratorium Can't Revive Missed Written Statement Deadline: Delhi High Court

The Delhi High Court has recently held that filing an application under Order VII Rule 11 of the Code of Civil Procedure, which allows a defendant to seek rejection of a plaint at the threshold on legal grounds, cannot revive the statutory period for filing a written statement once it has expired. The court clarified that this position would apply even in a case where the defendant had invoked insolvency proceedings under the Insolvency and Bankruptcy Code. A bench of Justice Mini Pushkarna...

Judicial Custody Of Appellant No Ground To Extend IBC Limitation: NCLAT In Alps Leisure Liquidation

The National Company Law Appellate Tribunal (NCLAT) at New Delhi has recently dismissed two applications as time-barred, holding that judicial custody cannot be used to bypass the statutory limitation period under the Insolvency and Bankruptcy Code. The appellate tribunal clarified that Section 61 of the IBC permits condonation only up to 15 days beyond the initial 30-day limitation period and does not allow any extension beyond this outer limit, even if the appellant was in judicial custody. ...

Satinder Singh Bhasin Could Not Use IBC Limitation To Shield ₹50 Crore Bail Deposit From BIIPL: Supreme Court

The Supreme Court on Thursday, while considering pleas seeking cancellation of bail granted to Satinder Singh Bhasin, rejected his contention that the Interim Resolution Professional (IRP) of Bhasin Infotech and Infrastructure Pvt. Ltd. (BIIPL), of which he is a director, could not question the Rs.50 crore deposited as a bail condition due to the two-year look-back period under the Insolvency and Bankruptcy Code.It found that the amount that had been deposited for securing the bail was sourced...

NCLT Ahmedabad Keeps MAHAGENCO's Termination Of Gensol's ₹292.5 Crore EPC Contract Inoperative During CIRP

The Ahmedabad Bench of the National Company Law Tribunal (NCLT) has held that Maharashtra State Power Generation Company Limited's (MAHAGENCO) termination of Gensol Engineering Limited's Rs 292.5 crore EPC contract will remain inoperative during the company's insolvency process. The order by a bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma came on an application filed by Resolution Professional Keshav Khaneja, who sought to restrain MAHAGENCO from giving effect to the...

Supreme Court Dismisses BCCI Review Against Order Setting Aside NCLAT Decision Closing Byju's CIRP

The Supreme Court recently dismissed a review petition filed by the Board of Control for Cricket in India (BCCI) against its October 23, 2024 ruling in the Byju's insolvency case.In that ruling, the court had set aside the National Company Law Appellate Tribunal's approval of a post-admission settlement in the corporate insolvency resolution process of Think & Learn Pvt. Ltd., Byju's parent company. It had also held that once insolvency proceedings are admitted, they cannot be withdrawn...