NCLT Hyderabad Sets Aside Rejection of BEML's ₹2.57 Crore Claim in BEML Midwest CIRP, Orders Reverification

The National Company Law Tribunal (NCLT), Hyderabad, has recently set aside the rejection of a Rs.2.57 crore claim filed by BEML Limited against BEML Midwest Limited, finding that the liquidator's decision was not based on a complete and proper examination of the material on record and that the claim needed verification. The bench of Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri said that incomplete documentation by itself could not end the matter and that the claim had to be...

NCLT Mumbai Admits APRN Enterprises Insolvency Case, Emphasises Courts Cannot Rewrite Contracts

The Mumbai Bench of the National Company Law Tribunal (NCLT) on 6 April held that courts and tribunals cannot rewrite contracts and must enforce the bargain as agreed between parties, unless the agreement is vitiated by fraud, coercion, or illegality. A Bench of Judicial Member Nilesh Sharma and Technical Member Sameer Kakar admitted an insolvency application filed by APRN Enterprises Pvt Ltd against Marveledge Realtors Pvt Ltd. It observed: “Courts cannot rewrite contracts for the parties and...

Auction Of Corporate Debtor's Assets Under Depositors Act During IBC Moratorium Void: NCLT Indore

On 8 April, the Indore Bench of the National Company Law Tribunal (NCLT) set aside the auction of Suvidha Farming Ltd.'s assets conducted under the Chhattisgarh Protection of Interest of Depositors Act, 2005, holding that the sale was void as it took place during the moratorium period under the Insolvency and Bankruptcy Code (IBC), 2016. A Bench of Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta directed restoration of possession of the property to the Liquidator....

NCLT Kochi Approves Associated Alcohols' Resolution Plan For SDF Industries Revival

The National Company Law Tribunal at Kochi on Thursday approved a resolution plan submitted by Associated Alcohols & Breweries Limited for the revival of SDF Industries Limited.A coram of Judicial Member Vinay Goel allowed the application filed by the Resolution Professional of SDF Industries, noting that the plan had been approved by the Committee of Creditors with a 100% voting share and complied with all statutory requirements.The Corporate Insolvency Resolution Process against SDF...

NCLT Chennai Says Parties Cannot 'Cherry-Pick' Between Arbitral Award and Settlement In Landmark Housing CIRP

Holding that parties cannot “cherry-pick” between an arbitral award and a subsequent settlement to maximize recovery, the National Company Law Tribunal (NCLT) at Chennai dismissed a plea by landowners who sought Rs. 62.72 crore despite having agreed to settle their dues at Rs. 45 crore.A bench of Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy passed the order in the insolvency of Landmark Housing Projects Chennai Private Limited, upholding the liquidator's...

Tribunal's Residuary Powers Cannot Be Invoked After Resolution Plan Approval To Reopen Issues: NCLT Kolkata

The National Company Law Tribunal at Kolkata has held that its jurisdiction cannot be invoked after approval of a resolution plan to seek disclosure of CIRP documents or reopen settled issues. A bench of Judicial Member Bidisha Banerjee and Technical Member Siddharth Mishra said that once a plan is approved, “any claims not included in the plan are generally extinguished, preventing further disputes or litigation, ensuring a 'Clean Slate' for the successful resolution applicant.” The tribunal...

NCLT Chandigarh Refuses To Restrain Sale Of White Water's Panchkula Land After CIRP Set Aside

The National Company Law Tribunal (NCLT) at Chandigarh recently held that once a corporate insolvency process is set aside and the payment directed by the Supreme Court is complied with, it cannot restrain a company from dealing with its assets in the absence of a statutory moratorium that arises only upon admission of insolvency proceedings. A Bench of Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal said, “Once the CIRP is set aside and gets terminated, the CoC stands...

Mere Non-Explanation Of Fund Use Not Enough To Prove Fraudulent Trading Under IBC: NCLT Chennai

The National Company Law Tribunal (NCLT) in Chennai has held that mere non-explanation of fund utilisation or irregular accounting, without clear evidence of intent to defraud creditors, is insufficient to invoke fraudulent trading under Section 66 of the Insolvency and Bankruptcy Code. Examining the scope of Section 66, the Tribunal held that mere inability to explain fund utilisation in a business context does not meet the statutory requirement unless accompanied by clear evidence of intent...

NCLT Delhi Admits CIRP Pleas by JC Flowers Against Rana Kapoor-Linked RAB Subsidiaries Over ₹260 Crore Default

The Delhi Bench of the National Company Law Tribunal (NCLT) has admitted four CIRP pleas filed by JC Flowers Asset Reconstruction Pvt. Ltd. against subsidiaries of RAB Enterprises (India) Private Limited, a group promoted by Rana Kapoor and Bindu Kapoor. The proceedings have been initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016. The order, delivered on April 7, 2026, was passed by Judicial Member Ashok Kumar Bhardwaj and Technical Member Reena Sinha Puri. The four...

NCLT Bengaluru Dismisses Kingfisher Employees' Plea For Salary Dues, Says Karnataka High Court Is Proper Forum

The National Company Law Tribunal (NCLT) at Bengaluru has dismissed an application filed by former employees of Kingfisher Airlines seeking disbursement of their admitted salary dues, holding that the Karnataka High Court, which is supervising the winding-up proceedings, is the appropriate forum.A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada passed the order. 78 former pilots and staff of Kingfisher Airlines Limited filed an application before the NCLT...

Resolution Professional Cannot Convene Creditors' Meeting Without Repayment Plan: NCLT Kochi

On 13 April, the Kochi Bench of the National Company Law Tribunal (NCLT) held that, in the absence of a repayment plan, insolvency proceedings against a personal guarantor cannot proceed to the stage of convening a creditors' meeting and the Resolution Professional must file a report recording such non-submission. A Bench comprising Judicial Member Vinay Goel observed: “Where no Repayment Plan is submitted, the Resolution Professional has no option but to refrain from convening a meeting of...

Lease Rentals Not IRPC Without CoC Nod: NCLT Chennai Rejects DBS Bank's ₹46 Crore Claim In Orchid Pharma Insolvency

The National Company Law Tribunal (NCLT) at Chennai has dismissed an application by DBS Bank India Ltd seeking over Rs. 46 crore in lease rentals and CIRP-related expenses in the insolvency of Orchid Pharma Ltd, holding that in the present case such claims cannot be treated as Insolvency Resolution Process Costs in the absence of approval by the Committee of Creditors and cannot be raised after approval of the resolution plan. A coram of Judicial Member Jyoti Kumar Tripathi and Technical Member...