Bank's No Dues Certificate Not Determinative At CIRP Admission: NCLT Jaipur

The National Company Law Tribunal (NCLT) at Jaipur, has admitted Prayag Polytech Private Limited into insolvency over a Rs.34.14 crore default to Canara Bank. The bench of Judicial Member Reeta Kohli and Technical Member Kavita Bhatnagar held that disputes over “No Dues Certificates” cannot defeat a Section 7 petition at the threshold. The Tribunal observed that reliance on NOCs was “a serious defence, but it is not determinative at admission stage because the Bank's case is that the...

NCLT Delhi Appoints Two-Member Committee To Monitor Jaypee Infratech Project Progress

The National Company Law Tribunal (NCLT), New Delhi, recently appointed a two-member expert committee to assess the progress of construction of Jaypee Infratech Limited (JIL) projects under the approved resolution plan. A Bench comprising President Ramalingam Sudhakar and Technical Member Ravindra Charurvedi passed the direction while hearing multiple applications raising concerns regarding delays and grievances of homebuyers. The Bench held: “Without prejudice to the contentions raised in...

Former District Judge Deep Chandra Joshi To Serve As Acting President Of NCLT

The Ministry of Corporate Affairs on Friday has notified that Shri Deep Chandra Joshi, Former District Judge, has been appointed as the Acting President of the National Company Law Tribunal with effect from 14 February 2026. He is currently the senior-most member of the NCLT.As per the notification, this follows after the tenure of Justice (Retired) Ramalingam Sudhakar as President of NCLT on 13 February 2026. Invoking Section 415 (1) of the Companies Act, 2013, the Ministry clarified that Deep...

NCLT Guwahati Quashes Income Tax Reassessment Against Maxim Infrastructure For Pre-CIRP Dues

The National Company Law Tribunal (NCLT), Guwahati Bench, has ruled that the Income Tax Department cannot reopen tax assessments for dues it failed to claim during a company's insolvency process.A coram comprising Judicial Member Rammurti Kushawaha and Technical Member Yogendra Kumar Singh on January 15, allowed an application filed by Maxim Infrastructure & Real Estate Pvt. Ltd. It quashed reassessment proceedings for Assessment Year 2018–19.“Since the Respondent failed to lodge its claim...

No Overlapping Secured Interest Between Homebuyers And Financier Where Builder Is Liable: NCLT Mumbai

The National Company Law Tribunal (NCLT), Mumbai, recently held that in a real estate insolvency, homebuyers' and a housing finance company's secured interests cannot overlap. Where the builder has undertaken repayment obligations, the financier's interest must be protected. A Bench comprising Judicial Member Ashish Kalia and Technical Member Sanjiv Dutt, on 29 January allowed an application filed by GIC Housing Finance Ltd. in the corporate insolvency resolution process (CIRP) of Karrm...

NCLT Allahabad Reserves Verdict On Vedanta Plea Against CoC Approval Of Adani's JAL Plan

The National Company Law Tribunal at Allahabad has reserved its orders on Vedanta Limited's challenge to the Committee of Creditors' approval of Adani Enterprises' resolution plan for insolvent Jaiprakash Associates Limited. Vedanta was one of the resolution applicants in the process. The matter was heard by Judicial Member Praveen Gupta and Technical Member Ashish Verma, who reserved orders after hearing Vedanta and the Resolution Professional. Vedanta has sought a direction to send the...

Interest Mentioned In Invoice Cannot Be Counted For IBC Threshold Without Binding Agreement: NCLT Kochi

The National Company Law Tribunal (NCLT) at Kochi has dismissed an insolvency petition after holding that an operational creditor cannot rely solely on an interest clause printed on invoices to inflate the claim amount and cross the statutory Rs. 1 crore threshold under the Insolvency and Bankruptcy Code, in the absence of any binding agreement for payment of interest. Judicial Member Vinay Goel rejected a Section 9 plea filed by Savino Ceramic Private Limited against Fontana Impex Private...

NCLT Ahmedabad Slaps ₹2 Lakh Cost on Dharmadev Infra Director, Admits ₹20.97 Crore Insolvency Plea

Calling it a “counterblast” and an abuse of process, the National Company Law Tribunal (NCLT) Ahmedabad has imposed ₹2,00,000 in personal costs on a director of Dharmadev Infrastructure Limited while admitting an insolvency petition over dues of ₹20,97,43,678. A coram of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma dismissed an application filed under Sections 60(5) and 65 of the Insolvency and Bankruptcy Code, holding that no ingredient of fraudulent or malicious...

Recall Of Order Not Permissible For Party's Failure; 'Mistake' Must Be Tribunal's Error: NCLT Hyderabad

The National Company Law Tribunal (NCLT) at Hyderabad has recently held that a mistake warranting recall of order must be apparent on the face of the record and attributable to an error of the tribunal, and not to the failure of a party to place relevant material before it. A coram comprising Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri on February 11, 2026, dismissed a recall application filed by Colliers International (India) Property Services Pvt. Ltd. Colliers is the...

NCLT Kochi Rejects Plea To Implead CBI In Corporate Petition Alleging Oppression And Mismanagement

The Kochi Bench of the National Company Law Tribunal (NCLT) on 6 February dismissed an application by MRPN Minority Share Holder Customer Welfare Association, seeking to implead the Central Bureau of Investigation (CBI) in a pending company petition against Mary Rani Popular Nidhi Ltd. under Sections 241 and 242 of the Companies Act, 2013. The application alleged key managerial persons of the company of oppression and mismanagement. The Bench comprising Judicial Member Shri Vinay Goel, held...

IBC Cannot Be Used To Legitimize Proceeds of Crime: NCLT Recalls Alchemist Limited CIRP

The National Company Law Tribunal (NCLT) at New Delhi has recalled its own order admitting insolvency proceedings against Alchemist Limited, holding that the Code cannot be used to legitimise proceeds of crime. The tribunal found that the Corporate Insolvency Resolution Process (CIRP) was “vitiated by fraud, collusion and malicious intent.” Invoking its powers under Section 65 of the Insolvency and Bankruptcy Code (IBC) suo motu while allowing an application filed by the Directorate of...

Personal Difficulties Of Counsel Not “Sufficient Cause” To Restore Insolvency Petition: NCLT Chandigarh

The National Company Law Tribunal (NCLT) at Chandigarh recently observed that a counsel's personal difficulties, including childcare responsibilities as well as technical glitches, do not amount to “sufficient cause” for repeated non-appearance in insolvency proceedings under the Insolvency and Bankruptcy Code. Dismissing a third application seeking restoration of an insolvency petition filed by True Steels Private Limited, the Tribunal said the IBC is a time-bound code that requires strict...