NCLT Ahmedabad Issues Contempt Notices Against Sai Infinium Over Unwarranted Allegations In CIRP Recall Plea

The National Company Law Tribunal (NCLT) at Ahmedabad has directed issuance of contempt notices to Sai Infinium Limited and its representatives after holding that a recall plea contained “contemptuous” allegations against the Bench. The tribunal also rejected the recall plea.. A coram of Judicial Member Chitra Hankare and Technical Member Dr. Velamur G. Venkata Chalapathy made the observation while dismissing an application filed by the corporate debtor seeking recall of an ex...

Attachment During Insolvency Unenforceable, But NCLT Kochi Cannot Lift Consumer Forum Order

The National Company Law Tribunal (NCLT) at Kochi has recently held that an attachment ordered by the Kerala State Consumer Disputes Redressal Commission during an insolvency moratorium is legally unenforceable but said it lacks jurisdiction to itself remove or set aside the attachment. A bench led by Judicial Member Vinay Goel said the attachment could not survive the moratorium or the approval of the resolution plan of the corporate debtor, under which the claim had already been dealt with. ...

Allotment In Proposed Realty Project Without Fund Disbursement By Claimants Is Not Financial Debt: NCLT Mumbai

The National Company Law Tribunal (NCLT) at Mumbai has dismissed six applications seeking recognition as financial creditors in the insolvency of E-Commerce Magnum Solution Ltd. It held that a purported allotment in a proposed real estate project, without proof of disbursement, does not create a financial debt under the Insolvency and Bankruptcy Code.“Merely producing a copy of the purported allotment letter will not by itself create a financial debt under Section 5(8) of the Code without...

NCLT Ahmedabad Extends Blu-Smart Mobility Insolvency Process By 90 Days

The National Company Law Tribunal (NCLT) at Ahmedabad has granted an additional 90 days to complete the insolvency process of Blu-Smart Mobility Limited, extending the deadline beyond January 24, 2026. The insolvency proceedings against the company had begun on July 28, 2025, after the tribunal admitted a petition filed by Catalyst Trusteeship Limited under Section 7 of the Insolvency and Bankruptcy Code. The case was filed on behalf of financial creditors. The original 180-day period was...

NCLT Chennai Directs Re-Verification of SBI Claim In Apollo Polyvinyl Insolvency

The National Company Law Tribunal (NCLT) at Chennai has recently held that a resolution professional cannot mechanically admit a lender's claim during insolvency proceedings when it distorts voting power in the committee of creditors. The tribunal ordered a fresh verification of the claim admitted in favour of the State Bank of India in the insolvency of Apollo Polyvinyl Private Limited. A coram of Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy said higher...

NCLT Amravati Approves ₹884.82-Crore Capri Global Plan For SevenHills Healthcare Backed By Reliance Group

The National Company Law Tribunal (NCLT) at Amravati has approved a Rs. 884.82 crores resolution plan submitted by Capri Global Holdings Pvt Ltd for revival of Sevenhills Healthcare Pvt Ltd.The tribunal reiterated that once a resolution plan satisfies the statutory requirements under the Insolvency and Bankruptcy Code, judicial interference with the commercial wisdom of lenders is impermissible.Judicial Member Kishore Vemulapalli noted that the plan met all requirements under the Code and the...

NCLT Directs 33 Schools Using 'Presidium' Brand to Deposit Trademark Revenue Into CIRP Account

The National Company Law Tribunal (NCLT) at New Delhi has directed 33 schools operating under the “Presidium” name to render accounts of amounts received and profits generated from use of the trademark and deposit the same into the Corporate Insolvency Resolution Process (CIRP) account of Presidium Educational Institution Private Limited. A coram of Judicial Member Manni Sankariah Shanmuga Sundaram and Technical Member Atul Chaturvedi held that the continued use of the trademark without a...

RP Cannot Refuse Creditor Substitution Merely Because CoC Has Approved Resolution Plan: NCLT Kolkata

The National Company Law Tribunal at Kolkata has held that a resolution professional cannot refuse substitution of a financial creditor merely because the corporate insolvency resolution process has progressed substantially or because a resolution plan has been approved by the Committee of Creditors (CoC) but is yet to receive approval of the adjudicating authority.A coram of Judicial Member Bidisha Banerjee and Technical Member Siddharth Mishra observed that under the insolvency law, a valid...

NCLT Approves ₹919-Crore Oberoi Realty-Led Plan To Revive Hotel Horizon

The National Company Law Tribunal (NCLT) at Mumbai has approved a Rs 919-crore resolution plan submitted by a consortium comprising Oberoi Realty Ltd, Shree Aman Developers Pvt Ltd and JM Financial Properties and Holdings Ltd for the revival of debt-laden Hotel Horizon Pvt Ltd. A bench comprising Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar noted that the resolution plan complied with all mandatory provisions of the Insolvency and Bankruptcy Code and applicable...

NCLT Mumbai Admits Smaaash Leisure To Insolvency Over Rs. 32 Crore Unpaid Debt

The National Company Law Tribunal (NCLT) at Mumbai has admitted an insolvency petition filed by J.C. Flower Asset Reconstruction Ltd against Smaash Leisure Ltd, a popular Indian gaming and entertainment company engaged in sports simulation technology and virtual reality games, for default of Rs. 32.19 crores.Smaaash Entertainment is the operational entity that runs and markets the “Smaaash” brand, while Smaaash Leisure Ltd is a group company. Smaaash, which had undergone insolvency proceedings,...

Homebuyers Acting As Resolution Applicants Cannot Challenge CIRP Framework After Filing Plan: NCLT Kochi

The National Company Law Tribunal (NCLT) at Kochi has recently held that a homebuyers' association cannot challenge the insolvency framework after submitting a resolution plan under it while hearing the insolvency of Samson and Sons Builders and Developers Private Limited. The order was passed by Judicial Member Vinay Goel. The tribunal said a party cannot accept the decisions of the Committee of Creditors and later question the same decisions after stepping into the role of a resolution...

Pledged Shares Already With Creditor Need Not Be Returned During CIRP: NCLT Mumbai

The National Company Law Tribunal (NCLT) at Mumbai has held that, in the facts of the case, pledged shares that were already lying in the custody of a secured creditor before the start of the corporate insolvency resolution process did not need to be transferred back to the corporate debtor's demat account during insolvency. A bench of Judicial Member Nilesh Sharma and Technical Member Charanjeet Singh Gulati held that, in this case, the Insolvency and Bankruptcy Code allows only preservation...