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...

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...

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...

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...

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...

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. ...

NCLAT Dismisses SGN Appeal On Its Claims Over Tower 5 Of Morpheus Bluebell In CIRP Against Its Developer

The National Company Law Appellate Tribunal (NCLAT) at Delhi has dismissed an appeal by SGN Universal Construction Company Pvt. Ltd. challenging observations made by the NCLT on its claimed rights over Tower 5 of the “Morpheus Bluebell” project in Greater Noida (West), developed by M/s Morpheus Prodevelopers Pvt. Ltd. The appellate tribunal said the Adjudicating Authority had not returned any finding on those claims and that such issues fall for consideration within the insolvency process. A...

NCLAT Upholds NCLT Mumbai Order Directing Eviction Of Unauthorised Occupant In Infra Company CIRP

The National Company Law Appellate Tribunal (NCLAT) at Delhi has upheld an order directing eviction of an unauthorised occupant from a corporate debtor's property during insolvency proceedings. The court upheld the NCLT Mumbai's view that a Resolution Professional can approach the NCLT to secure possession of assets and that requiring separate civil proceedings would “unduly prolong the insolvency process which is a time bound process.” A bench of Judicial Member Justice Ashok Bhushan and...

NCLAT New Delhi Modifies NCLT Order In Vatika Ltd. Insolvency, Restricts CIRP To 'Aspirations' Project

The New Delhi National Company Law Appellate Tribunal (NCLAT) on 27 March, held that insolvency proceedings in real estate cases must be confined to the specific project for which financing was raised. A Bench comprising Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra heard an appeal by Surender Singh, the suspended director of Vatika Limited in relation to the “Aspirations” project in Sector 88B, Gurgaon. The Tribunal held: “In the facts of the present case, CIRP against...

NCLAT Sets Aside Resolution Plan For Manjeera Constructions Over Three-Day Delay In Crediting Earnest Money

The National Company Law Appellate Tribunal (NCLAT) at Delhi recently set aside the approval of a resolution plan for Manjeera Constructions Limited after finding that the successful resolution applicant's earnest money deposit was credited three days after the stipulated deadline, rendering the bid non-responsive A bench of Judicial Member Justice Sharad Kumar Sharma and Technical Member Jatindranath Swain rejected the contention that the requirement stood satisfied since the amount had been...