NCLT Kochi Orders Original Concessionaire To Transfer ₹35.83 Lakh Jatayu Project Revenue To Common Pool

The National Company Law Tribunal (NCLT) at Kochi has directed that Rs 35.83 lakh lying in the current account of Guruchandrika Builders and Property Private Limited, the original concessionaire of the Jatayupara Tourism Project, be transferred to the project's common pool account, saying the move was necessary to maintain continuity of financial supervision. The direction was issued in an order delivered on Monday (January 5, 2026) by Judicial Member Vinay Goel. The dispute centers on the...

NCLT Delhi Clears Merger Of Fortis Subsidiaries Into Fortis Hospitals Despite SFIO Probe Concerns

The National Company Law Tribunal (NCLT) at New Delhi has approved the merger of four Fortis group subsidiaries into Fortis Hospitals Limited, overruling objections linked to an ongoing investigation into the group's former promoters. The approval was granted on January 5, 2026, nearly two years after the tribunal passed its first order in the matter. The merger will take effect from April 1, 2022. A coram of Judicial Member Ashok Kumar Bhardwaj and Technical Member Ravindra...

Settlement Between Operational Creditor and Suspended Director Can't Override Lenders' Claims: NCLT Ahmedabad

The National Company Law Tribunal (NCLT) at Ahmedabad has recently held that a settlement between an operational creditor and a suspended director cannot be used to withdraw a company from insolvency once the Committee of Creditors is in place.Dismissing a withdrawal plea in the insolvency of Vimla Fuels & Metals Limited, the tribunal said such a private arrangement cannot override the claims of financial creditors exceeding Rs 61 crore. A bench of Judicial Member Shammi Khan and Technical...

Insolvency Proceedings Cannot Be Reopened After Settlement Without Proof Of Fresh Default: NCLT Ahmedabad

The National Company Law Tribunal (NCLT) at Ahmedabad has dismissed an insolvency plea against Shukla Dairy Private Limited, holding that once parties settle and the case is closed, an operational creditor cannot reopen insolvency proceedings without clear bank records showing a fresh default. A coram of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma said bare allegations of non-payment are not enough, especially when the corporate debtor places specific proof of payment on...

Fraud Has No Look-Back Period, Directors Cannot Use Lapse Of Time As Shield : NCLT Kochi

The National Company Law Tribunal (NCLT) at Kochi has held that allegations of fraudulent and wrongful trading are not restricted by any fixed look-back period, and directors cannot avoid personal liability merely by arguing that the conduct took place long ago. It therefore directed the suspended directors of a Kochi-based insolvent company to jointly contribute Rs 11.95 crore to the company's assets.The tribunal said delay by itself cannot be used as a shield where the conduct complained...

NCLT Ahmedabad Orders Recovery of ₹2 Lakh Costs From Personal Guarantor As Arrears of Land Revenue

The National Company Law Tribunal (NCLT) at Ahmedabad has directed that costs of Rs 2 lakh imposed earlier on a personal guarantor be recovered as arrears of land revenue, after finding that he had repeatedly ignored its order and failed to pay the amount. A coram of Judicial Member Justice Shammi Khan and Technical Member Sanjeev Sharma noted that the personal guarantor had shown continued and wilful non-compliance. It observed, “In view of the continued and wilful non-compliance by the...

NCLT Mumbai Approves Merger Of THPL Warehousing Services Into Booker India

The National Company Law Tribunal at Mumbai has approved the merger of THPL Support Services Ltd into Booker India Ltd, allowing the subsidiary company to be dissolved without winding up as part of a group level corporate restructuring exercise. A coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar in an order dated January 5 observed, “From the material on record, the Scheme appears to be fair and reasonable and is not in violation of any provisions of...

Foreign Citizenship, No Assets In India No Bar To IBC Proceedings Against Personal Guarantor: NCLT Chennai

The National Company Law Tribunal (NCLT) at Chennai recently held that insolvency proceedings under the Insolvency and Bankruptcy Code, 2016, can be initiated against a personal guarantor even if he is a foreign citizen and does not own any assets in India. The tribunal said nationality and absence of property in India do not prevent the Code from applying. A coram of Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam rejected the objection to the maintainability of...

NCLT Admits Gensol EV's Insolvency Plea Against Mindra EV Over ₹1.61 Crore Default

The National Company Law Tribunal (NCLT) at Ahmedabad has recently admitted an insolvency petition filed by Gensol EV Lease Limited, a debt ridden company that was itself admitted to insolvency in June 2025, against Mindra EV Private Limited. The plea was admitted over a default of Rs 1.61 crore after the corporate debtor failed to appear or contest the case despite being served with notice. A coram of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma held that a corporate debtor...

Self-Prepared Interest Calculations Cannot Substitute Contractual Proof In CIRP: NCLT Indore

The National Company Law Tribunal (NCLT) at Indore has held that self-prepared interest calculations, such as Excel sheets, cannot be the basis for admitting interest claims in insolvency proceedings without supporting contractual or statutory records. A coram of Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta said that interest can form part of financial debt only when it is contractually agreed or clearly reflected in the corporate debtor's records. The...

Personal Guarantor's Failure To Submit Repayment Plan Leads To Bankruptcy: NCLT Hyderabad

The National Company Law Tribunal (NCLT) at Hyderabad has ordered bankruptcy proceedings against P Kameswari, the personal guarantor of Viceroy Hotels Limited. The tribunal said that when a repayment plan is not filed or does not receive creditor approval, the law treats it as a rejection of the repayment plan under the Insolvency and Bankruptcy Code. Viceroy Hotels is a Hyderabad-based company that owns and runs Marriott-branded hotels in the city through licensing arrangements with Marriott...

NCLT Hyderabad Holds Ex-KVK Nilachal Liquidator In Contempt For Not Disclosing Contractor Equipment To Bidders

The National Company Law Tribunal (NCLT) at Hyderabad has recently held Rajendra Prasad Tak, the former liquidator of KVK Nilachal Power, guilty of civil contempt for deliberately ignoring its directions on third party equipment that had been kept outside the liquidation estate. A coram of Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri, in an order dated December 3, 2025, said the liquidator's failure to facilitate removal of the equipment and his decision to proceed with the...