NCLAT Upholds Voting Window Extended Within Unijules CIRP Timeline, Says No Material Irregularity

The National Company Law Appellate Tribunal (NCLAT) at Delhi has upheld the extension of the voting window in the insolvency resolution process of Unijules Life Sciences Ltd., holding that continuation of e-voting beyond the initially fixed date did not amount to a material irregularity as it remained within the overall CIRP timeline. Dismissing a batch of appeals filed by unsuccessful resolution applicants and dissenting financial creditor Satsai Finlease Pvt Ltd, the appellate tribunal...

NCLAT Refuses CIRP Deferment Despite Favourable Arbitral Award, Cites Higher Total Debt

The National Company Law Appellate Tribunal (NCLAT) on Friday upheld the admission of insolvency proceedings against a road project SPV, rejecting its plea to defer admission under Section 7 of the IBC on the ground that amounts claimed under an arbitral award exceeded the bank's claim. A bench of Justice Ashok Bhushan and Barun Mitra held that this was not a fit case to apply the Supreme Court's ruling in Vidarbha Industries Power Ltd. v. Axis Bank Ltd., which allows the NCLT to delay...

High Court Should Not Have Directed Delay Condonation After Dismissing Writ Against NCLT Order: NCLAT

The National Company Law Appellate Tribunal (NCLAT) at Chennai has observed that a High Court should not have directed exclusion of time or condonation of delay after declining to entertain a writ petition on the ground of availability of an alternative statutory remedy under the Insolvency and Bankruptcy Code (IBC).A bench of Judicial Member Justice Sharad Kumar Sharma and Technical Member Jatindranath Swain held.“Therefore, for all practical purposes when the Hon'ble High Court has observed...

Limitation For Action Against Personal Guarantor Begins Only On Clear Invocation Of Guarantee: NCLAT Chennai

The Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) on 9 April 2026 held that limitation for initiating insolvency proceedings against a personal guarantor under Section 95 of the Insolvency and Bankruptcy Code, 2016 starts only when the guarantee is clearly and unequivocally invoked, and not from earlier communications that only show default or an intention to recall the loan. A Bench comprising Judicial Member Justice Sharad Kumar Sharma upheld the order of the NCLT,...

NCLAT Issues Notice On Shikhar Dhawan's Appeal Against Rejection Of CIRP Plea Against Absolute Legends Sports

The National Company Law Appellate Tribunal (NCLAT) at Delhi on Friday issued notice in an appeal filed by cricketer Shikhar Dhawan challenging the rejection of his insolvency plea against Absolute Legends Sports Private Limited. The appellate tribunal will examine whether Dhawan's claim for unpaid player fees for his participation in the Legends League Cricket qualifies as an operational debt and whether the National Company Law Tribunal (NCLT) was right in holding that the debt was not due...

NCLAT Rejects Guarantor's Plea of Ignorance of Order Appointing Bankruptcy Trustee After Participating In Proceedings

The National Company Law Appellate Tribunal (NCLAT) at Chennai has dismissed an appeal filed by a personal guarantor to MBS Impex Pvt. Ltd. as barred by limitation, holding that his plea of gaining knowledge of the order at a later date was untenable since he had participated in the proceedings and that the delay of 32 days was beyond the condonable limit prescribed under law. A Bench comprising Judicial Member Justice Sharad Kumar Sharma and Technical Memer Jatindranath Swain observed,...

Monitoring Committee Cannot Revisit Approved Resolution Plan Or Alter Distribution Mechanism: NCLAT

The National Company Law Appellate Tribunal (NCLAT) at New Delhi has reiterated that a Monitoring Committee constituted under a resolution plan cannot assume the role of the Committee of Creditors (CoC) or the Adjudicating Authority to revisit or modify the terms of an already approved resolution plan. The tribunal dismissed an appeal filed by assenting financial creditors challenging the order of the NCLT, Cuttack Bench, which had directed payment to a dissenting financial creditor in...

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...

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...