Supreme Court Refuses To Condone 166-Day Refiling Delay In IBC Appeal, Calls Explanation A 'Lame Excuse'

The Supreme Court has refused to entertain an appeal by Thrani Industries Ltd against insolvency proceedings initiated against it, holding that the company's explanation for a 166-day delay in refiling the case was nothing more than a "lame excuse". A Bench of Justices Dipankar Datta and Satish Chandra Sharma dismissed the appeal after finding that Thrani Industries had failed to show any sufficient cause for the prolonged delay. The company had attributed the delay to the non-availability of...

Supreme Court Upholds Admission of Insolvency Plea Filed by Ingram Micro Against Bathla Teletech

The Supreme Court has refused to interfere with an NCLAT ruling that Bathla Teletech Pvt Ltd's claims relating to unsold iPhone 8 inventory and backend discounts did not constitute a genuine pre-existing dispute capable of defeating an insolvency application. The order leaves intact insolvency proceedings against the electronics reseller at the instance of Ingram Micro India Pvt Ltd. A Bench of Justices Dipankar Datta and Satish Chandra Sharma dismissed an appeal filed by Bathla Teletech,...

Extinguished Dues Cannot Be 'Resurrected' To Disqualify Resolution Applicant Under IBC: Supreme Court

The Supreme Court has recently held that once a company has been resolved under an approved insolvency resolution plan and all remaining dues stand extinguished, those dues cannot be "resurrected" to assess the eligibility of a prospective resolution applicant a year later. It set aside orders that had declared Cosmic CRF Ltd ineligible to participate in the corporate insolvency resolution process of Amzen Transportation Industries Pvt. Ltd. A Bench of Justices J.B. Pardiwala and Ujjal Bhuyan...

Supreme Court Refuses To Interfere With Interest On Adani Infra's Delayed ₹255 Crore Payment For Land Bought In Liquidation

The Supreme Court on Monday declined to interfere with a National Company Law Appellate Tribunal (NCLAT) order directing Adani Infrastructure & Developers Pvt Ltd to pay 12% interest on delayed payment of ₹255 crore. The amount formed part of the consideration for its ₹325-crore purchase of a land parcel belonging to Anil Ltd, which is under liquidation. A bench of Justices Dipankar Datta and Satish Chandra Sharma dismissed an appeal filed by the liquidator. The liquidator had challenged...

Supreme Court Issues Notice On Plea Alleging Jaypee Used “Facade” Deals To Divert ₹13,833 Crore Homebuyer Funds

The Supreme Court on Tuesday issued notice on a writ petition alleging that Rs. 13,833 crore out of Rs. 14,599 crore collected from homebuyers by the Jaypee Group was diverted through transfers to group entities and undervalued land transactions. The matter came up before a bench comprising the Chief Justice Surya Kant, Justice Joymalya Bagchi and Justice Vipul M. Pancholi issued notice. “Issue notice, returnable on 15.07.2026,” the court recorded.Filed by a homebuyer in the 'KASABLANCA'...

Successful Resolution Applicant Cannot Renegotiate After CoC Approves Resolution Plan: Supreme Court

The Supreme Court on Wednesday held that a Successful Resolution Applicant cannot seek to renegotiate or stall implementation of a resolution plan after it has been approved by the Committee of Creditors (CoC). A Bench of Justices K. V. Viswanathan and Vipul M. Pancholi passed the ruling while dismissing appeals filed by Sanjay Dave, former promoter-director and Successful Resolution Applicant (SRA) of Oracle Home Textiles Ltd. The Court held that once the CoC approves a resolution plan...

Supreme Court Declines Ex-NCLAT Member's Plea Challenging Post-Retirement Practice Restriction Before NCLT, NCLAT

The Supreme Court on Wednesday declined to entertain a writ petition filed by former National Company Law Appellate Tribunal (NCLAT) Technical Member Vijai Pratap Singh challenging the statutory restriction prohibiting former tribunal members from appearing before the National Company Law Tribunal (NCLT) and NCLAT after retirement.Appearing in person, Singh argued that an absolute prohibition was excessive and suggested that a cooling-off period could instead be introduced. A Bench comprising...

Supreme Court Issues Notice In Plea Challenging HC Order Barring Registered Office Shift Pending NCLAT Appeals

On Friday, 22 May, the Supreme Court issued notice on a plea filed by Hindusthan National Glass & Industries Ltd, a corporate debtor, challenging the Calcutta High Court judgment dated 15 May 2026. The judgement had held that the company could not shift its registered office from Kolkata to Mumbai while appeals against its insolvency resolution plan remained pending before the NCLAT.A Division Bench of Justices Pamidighantam Sri Narasimha and Alok Aradhe, while issuing notice, declined to...

Supreme Court Orders No Coercive Steps In Plea Seeking Bar On NI Act Proceedings During Personal Insolvency

Another plea has been filed in the Supreme Court seeking a declaration that proceedings under the Negotiable Instruments Act and the Payment and Settlement Systems Act cannot continue against personal guarantors once the interim moratorium under the Insolvency and Bankruptcy Code is triggered.The plea has been filed by Karan Bhatia, suspended director of Uttam Cylinders Pvt Ltd and a personal guarantor for the company's loans. A Bench of Chief Justice Surya Kant, Justice Joymalya Bagchi and...

Venugopal Dhoot Moves Supreme Court Against NCLAT Order Excluding Videocon Foreign Oil Assets From VIL CIRP

Videocon founder Venugopal Dhoot has moved the Supreme Court against an NCLAT ruling refusing to bring the group's foreign oil and gas assets into the insolvency resolution process of Videocon Industries Ltd.The matter is yet to be listed by the Supreme Court. The NCLAT on May 14, 2026 noted that Dhoot himself had earlier requested lenders in 2016 and 2017 to separate Videocon Industries from the foreign oil and gas business. It said this was done to “protect the oil and gas assets of the group...

Supreme Court Says Alleged 'Hallucinated' Citations By NCLT-NCLAT In Essel Infraprojects Case Under Examination

The Supreme Court on Tuesday said allegations that the NCLT and NCLAT relied on allegedly fake citations in insolvency proceedings against Essel Infraprojects Ltd were already under administrative examination and had been referred to a committee. The court also reserved judgment in the appeal filed by the company's suspended director. A Bench of Justices P.S. Narasimha and Alok Aradhe made the observation while hearing the appeal filed by suspended director Pooja Ramesh Singh against orders...

Supreme Court Says Appeal Without Certified Copy Was "Wholly Incompetent," Sets Aside NCLAT Order Condoning Delay

The Supreme Court on Tuesday set aside an NCLAT order condoning delays in filing and refiling an insolvency appeal against the approval of a resolution plan for Samson and Sons Builders and Developers Pvt Ltd, holding that the appeal was a “wholly incompetent appeal” as there was effectively no filing of a valid appeal in the eyes of the law.A bench of Justices Sanjay Kumar and K. Vinod Chandran set aside the NCLAT's November 10, 2025 order condoning delays of 15 days in filing and 150 days in...