IBC
Delayed Homebuyer Claim Cannot Be Rejected When RP Failed To Verify Records: NCLAT New Delhi
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 30 June held that a genuine homebuyer cannot be denied the benefit of an approved resolution plan merely because the homebuyer filed the claim belatedly, when the delay occurred due to the Resolution Professional's (RP) failure to identify and notify the homebuyer despite the corporate debtor's records reflecting the allotment. Judicial Member Justice N Seshasayee and Technical Members Arun Baroka and Indevar Pandey...
LiveLawBiz IBC Weekly Digest: July 6 - July 11, 2026
HIGH COURT Suit Filed During IBC Interim Moratorium Attracts Rejection Of Plaint Provision Under CPC: Calcutta High Court Case Title : Ambootia Tea Exports Private Limited & Ors. Vs. Sri Rani Sati Abasan Private Limited Case Number : AD COM 3 of 2026 CITATION : 2026 LLBiz HC (CAL) 167The Calcutta High Court has held that a court cannot entertain a suit instituted during the operation of an interim moratorium under the Insolvency and Bankruptcy Code where the statutory bar applies. It...
NCLT Delhi Says Transfer Plea Cannot Be Allowed 'At Mere Asking,' Dismisses Ex-Promoter's Application
The Principal Bench of the National Company Law Tribunal (NCLT), New Delhi, has dismissed a transfer application filed by the ex-promoter of Nimitaya Hotel Resorts Ltd. seeking to move the company's insolvency proceedings from the Special Bench to another bench. The tribunal imposed costs of ₹50,000 after finding that the applicant had concealed material facts. The order was passed by NCLT President Justice Anupinder Singh Grewal who observed, “A transfer application cannot be allowed at...
NCLT Delhi Admits Indian Overseas Bank's CIRP Plea Against Mhow Ghatabill Toll Roads Over ₹117.74 Crore Default
The Principal Bench of the National Company Law Tribunal (NCLT), New Delhi, has admitted an insolvency petition filed by Indian Overseas Bank against infra company Mhow Ghatabill Toll Roads Pvt. Ltd. over an alleged default of ₹117.74 crore.The tribunal found that the bank had established the existence of a financial debt and default in repayment and that the application was filed within the prescribed limitation period. A bench of President Justice Anupinder Singh Grewal and Technical Member...
NCLT Admits Insolvency Plea Against The Moms Co. Parent Over ₹1.32 Crore Dues
The Delhi Bench of the National Company Law Tribunal (NCLT) has admitted an insolvency petition filed by Bjain Pharmaceuticals Pvt. Ltd. against Amishi Consumer Technologies Pvt. Ltd., the company behind the personal care brand The Moms Co., which manufactures personal care products over an operational debt of ₹1.32 crore. The bench of Judicial Member Justice Jyotsna Sharma and Technical Member Anu Jagmohan Singh while admitting the plea, observed that there was no pre-existing dispute as...
NCLT Delhi Admits CIRP Plea, Holds Advance Paid For Unsupplied Goods Qualifies As Operational Debt
The Delhi Bench of the National Company Law Tribunal (NCLT) has admitted insolvency proceedings against Swadesh Green Infra Limited after holding that an advance payment made under a commercial arrangement for the supply of goods qualified as an operational debt. The tribunal found that the supplier had failed to deliver the remaining goods. A bench of Judicial Member Bachu Venkat Balaram Das and Technical Member Ravindra Chaturvedi observed: “Thus, the advance payment was not a standalone...
Companies Act, DPDP Act Cannot Fasten Liability On Third-Party Cloud Service Provider Under IBC: NCLT Bengaluru
The National Company Law Tribunal (NCLT) at Bengaluru has ruled that the Companies Act, 2013 and the Digital Personal Data Protection Act, 2023 cannot be relied upon to fasten liability on a third-party cloud service provider where there is no direct legal or contractual nexus with the corporate debtor. A bench of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada held that Amazon Web Services India Pvt. Ltd. (AWS India) and its officials could not be directed to...
NCLT Mumbai Approves SAB Events Revival Plan, Grants First-Motion Relief For Merger With Sri Adhikari Brothers
The Mumbai Bench of the National Company Law Tribunal approved the pre-packaged insolvency resolution plan of SAB Events & Governance Now Media Ltd. As part of the resolution plan, it granted first-motion relief for the company's proposed amalgamation with Sri Adhikari Brothers Digital Network Pvt Ltd by dispensing with shareholders' and creditors' meetings, while directing issuance of statutory notices to the concerned authorities.A bench of Judicial Member Sushil Mahadeorao Kochey and...
Liquidator Cannot Take Possession Of Asset Where Ownership Is Seriously Disputed: NCLT Mumbai
The Mumbai Bench of the National Company Law Tribunal (NCLT) has recently held that a liquidator cannot take custody of an asset where a third party raises a serious dispute over ownership and claims an independent title. The tribunal observed that in such cases, the appropriate course is to seek determination of title before the competent civil forum rather than invoke its summary jurisdiction. A bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar made the...
NCLT Kochi Says CoC Cannot Cripple Insolvency Process By Refusing To Fund Essential CIRP Costs
The National Company Law Tribunal (NCLT) at Kochi has ruled that the Committee of Creditors (CoC) cannot cripple the Corporate Insolvency Resolution Process (CIRP) by refusing to meet its essential costs. It observed that the insolvency process cannot function if the Resolution Professional is deprived of the funds required to discharge statutory duties. A bench of Judicial Member Vinay Goel and Technical Member Ravichandran Ramasamy observed: “The Committee of Creditors, being the supreme...
