NCLT Ahmedabad Directs Restoration Of Gensol EV Lease's GST Registration During CIRP

The Ahmedabad bench of the National Company Law Tribunal has directed the GST authorities to restore the GST registration of Gensol EV Lease Limited during its Corporate Insolvency Resolution Process (CIRP). The bench held that the cancellation shall not operate against the company during CIRP, observing that the GST registration “has a direct bearing upon the statutory compliances” and may materially affect the Resolution Professional's ability to manage the company's affairs.Judicial Member...

NCLT Indore Rejects Oswal Woollen Mills Insolvency Plea Against EKI Energy

The Indore Bench of the National Company Law Tribunal (NCLT) has dismissed Oswal Woollen Mills Ltd.'s insolvency petition against EKI Energy Services Ltd., a carbon-credit developer and supplier.The petition concerned alleged unpaid dues arising from the supply of Certified Emission Reductions (CERs).The bench of Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta found that a genuine pre-existing dispute existed between the parties before Oswal issued its statutory...

NCLT Mumbai Dismisses Jet Airways Plea Seeking $92M Refund From Boeing Over Undelivered Aircraft

The Mumbai Bench of the National Company Law Tribunal (NCLT) has dismissed the Liquidator of Jet Airways' plea seeking a refund of $92.129 million, or about ₹500 crore, paid to Boeing as advance and pre-delivery payments for aircraft that were never delivered. The tribunal comprising Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar held that the dispute revolved around the parties' aircraft purchase agreements and could not be adjudicated in its limited jurisdiction...

NCLT Mumbai Approves ₹1,611-Crore Resolution Plan For Gstaad Hotels, Dismisses Objections

The Mumbai bench of the National Company Law Tribunal has approved Shree Naman Developers Private Limited's ₹1,611-crore resolution plan for Gstaad Hotels Private Limited. Gstaad Hotels owns the JW Marriott hotel in BengaluruIt also dismissed objections raised by suspended directors Deepak B. Raheja and Anita D. Raheja.The bench comprising Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar ruled that the plan complied with the requirements of the Insolvency and...

Corporate Debtor Cannot Use Dispute Between Lenders To Delay Insolvency Proceedings: NCLT Kochi

The National Company Law Tribunal (NCLT) at Kochi bench has ruled that a borrower cannot use a dispute between consortium lenders over restructuring to block insolvency proceedings. This is so when the financial debt and default are otherwise established.“The Corporate Debtor cannot be permitted to take advantage of an inter se dispute between the Financial Creditors so as to delay or defeat the insolvency proceedings,” Judicial Member Vinay Goel and Technical Member Ravichandran Ramasamy...

NCLT Ahmedabad Rejects A.R. Company's Insolvency Plea Against Sadbhav Engineering

The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 19 August dismissed an insolvency petition filed by A.R. Company against Sadbhav Engineering Limited over unpaid dues arising from the supply of road and building construction materials. A Bench comprising Judicial Member Chitra Hankare and Technical Member Dr V.G. Venkata Chalapathy observed: “The claim arising from the alleged breach of the MOU has to be pursued in accordance with the remedies contemplated under the MOU and...

Cloud Storage Sale-and-Leaseback Qualifies As Financial Lease Under IBC: NCLT Allahabad

The National Company Law Tribunal, Allahabad Bench has held that a sale-and-leaseback arrangement created through two linked agreements constituted a “financial lease” under the Insolvency and Bankruptcy Code, 2016. The arrangement involved applicants first purchasing cloud storage units from Vuenow Marketing Services Limited (VMSL) and then leasing the same units to Zebyte Rental Planet Private Limited for 10 years in return for monthly payments.The court observed, “In view of the foregoing...

IBC Section 96 Moratorium Is Debtor-Centric, Not Debt-Specific: NCLT Guwahati

The National Company Law Tribunal (NCLT) at Guwahati on 14 August held that the interim moratorium under Section 96 of the Insolvency and Bankruptcy Code, 2016 (IBC) protects a personal guarantor as a whole, and not just against a particular debt. It therefore barred a fresh insolvency application against the guarantor while an earlier application was pending. A Bench comprising Judicial Member Rammurti Kushawaha and Technical Member Yogendra Kumar Singh, rejected UCO Bank's insolvency petition...

Liquidator Cannot Admit Unadjudicated PF Dues Based On Departmental Estimates: NCLT Ahmedabad

The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 17 August 2026 held that uncrystallised and provisional provident fund demands cannot be enforced in liquidation, upholding the Liquidator's decision to admit only Rs. 1.68 lakh of provident fund dues and reject the balance claim of Rs. 1.77 crore.A Bench comprising Judicial Member Shammi Khan and Technical Member Sanjeev Sharma held that a statutory authority cannot require a Liquidator to admit a claim merely because the amount...

NCLT Bengaluru Approves Promoters' ₹18.34 Crore Resolution Plan For Sanjeevini Medlife Hospitals

The National Company Law Tribunal (NCLT), Bengaluru, on 13 August approved a resolution plan submitted by the erstwhile promoters of Sanjeevini Medlife Hospitals (India) Private Limited, a Micro, Small and Medium Enterprise (MSME), after the Committee of Creditors approved the plan with 100% voting share. A Bench comprising Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada held: “The Resolution Plan marked as Annexure 20, submitted by Dr. G.R. Subhash Kumar Reddy...

NCLT Ahmedabad Directs Gensol RP To Hand Over 10 EVs To Mahindra Finance During CIRP

The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 20 August partly allowed an application filed by Mahindra & Mahindra Financial Services Limited (MMFSL) concerning 17 electric vehicles (EVs) allegedly retained by Gensol Engineering Limited during its Corporate Insolvency Resolution Process (CIRP).A Bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma directed the Resolution Professional (RP) of Gensol to hand over 10 of the vehicles to MMFSL, holding...

Loan Paid To Director's Account Not Company Debt Without Proof Of Corporate Borrowing: NCLT Chennai

The National Company Law Tribunal (NCLT) at Chennai has held that a loan directly disbursed into the personal bank account of a company's director cannot be treated as a financial debt of the company without supporting evidence. The creditor must establish that the borrowing was undertaken by the company and that the funds were received or utilised by it for its business.A coram of Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy observed,“A financial disbursement...