NCLT
NCLT Delhi Admits CIRP Plea, Holds Advance Paid For Unsupplied Goods Qualifies As Operational Debt
The Delhi Bench of the National Company Law Tribunal (NCLT) has admitted insolvency proceedings against Swadesh Green Infra Limited after holding that an advance payment made under a commercial arrangement for the supply of goods qualified as an operational debt. The tribunal found that the supplier had failed to deliver the remaining goods. A bench of Judicial Member Bachu Venkat Balaram Das and Technical Member Ravindra Chaturvedi observed: “Thus, the advance payment was not a standalone...
Companies Act, DPDP Act Cannot Fasten Liability On Third-Party Cloud Service Provider Under IBC: NCLT Bengaluru
The National Company Law Tribunal (NCLT) at Bengaluru has ruled that the Companies Act, 2013 and the Digital Personal Data Protection Act, 2023 cannot be relied upon to fasten liability on a third-party cloud service provider where there is no direct legal or contractual nexus with the corporate debtor. A bench of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada held that Amazon Web Services India Pvt. Ltd. (AWS India) and its officials could not be directed to...
NCLT Mumbai Approves SAB Events Revival Plan, Grants First-Motion Relief For Merger With Sri Adhikari Brothers
The Mumbai Bench of the National Company Law Tribunal approved the pre-packaged insolvency resolution plan of SAB Events & Governance Now Media Ltd. As part of the resolution plan, it granted first-motion relief for the company's proposed amalgamation with Sri Adhikari Brothers Digital Network Pvt Ltd by dispensing with shareholders' and creditors' meetings, while directing issuance of statutory notices to the concerned authorities.A bench of Judicial Member Sushil Mahadeorao Kochey and...
Liquidator Cannot Take Possession Of Asset Where Ownership Is Seriously Disputed: NCLT Mumbai
The Mumbai Bench of the National Company Law Tribunal (NCLT) has recently held that a liquidator cannot take custody of an asset where a third party raises a serious dispute over ownership and claims an independent title. The tribunal observed that in such cases, the appropriate course is to seek determination of title before the competent civil forum rather than invoke its summary jurisdiction. A bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar made the...
NCLT Mumbai Rejects 100 Jet Lite Employees' Bid To Claim Dues In Jet Airways Liquidation
The tribunal held that secondment alone did not create an employer-employee relationship or an enforceable claim against Jet Airways
NCLT Kochi Says CoC Cannot Cripple Insolvency Process By Refusing To Fund Essential CIRP Costs
The National Company Law Tribunal (NCLT) at Kochi has ruled that the Committee of Creditors (CoC) cannot cripple the Corporate Insolvency Resolution Process (CIRP) by refusing to meet its essential costs. It observed that the insolvency process cannot function if the Resolution Professional is deprived of the funds required to discharge statutory duties. A bench of Judicial Member Vinay Goel and Technical Member Ravichandran Ramasamy observed: “The Committee of Creditors, being the supreme...
NCLT Mumbai Dismisses Insolvency Plea Against Shapoorji Pallonji
The tribunal ruled that entitlement to statutory interest under the MSMED Act requires adjudication and cannot be determined in summary insolvency proceedings.
NCLT Bengaluru Issues Notice To Ola Electric Technologies In ₹9.57 Crore Insolvency Plea
Today, the Bengaluru Bench of the National Company Law Tribunal (NCLT) issued notice in an insolvency petition against Ola Electric Technologies Private Limited after an operational creditor alleged that the company defaulted on payment of Rs. 9.57 crore.A Bench comprising Judicial Member Sunil Kumar Aggarwal and Technical Member Banwari Lal Meena held: "Subject to producing the originally signed extract of board resolution dated 11.03.2026, appearing on page 28 of the paper book, and...
NCLT Ahmedabad Admits Insolvency Plea Against Montecarlo, Rejects 'Pre-Existing Dispute' Defence
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 6 July admitted an insolvency petition against Montecarlo Limited, holding that disputes raised only after receipt of a demand notice cannot be treated as “pre-existing disputes” under the Insolvency and Bankruptcy Code, 2016 (IBC). A Bench comprising Judicial Member Chitra Hankare and Technical Member Dr V.G. Venkata Chalapathy allowed the application filed by Vanshita Transport, noting: “The CD is consistently saying that...
NCLT Mumbai Rejects Canara Bank's ₹742 Cr. Plea Against Frost International's Guarantor As Time Barred
On 8 July, the Mumbai Bench of the National Company Law Tribunal (NCLT) held that a second demand notice cannot revive a time-barred insolvency claim arising from an on-demand corporate guarantee, where limitation had already commenced upon invocation of the guarantee. Judicial Member Nilesh Sharma and Technical Member Sameer Kakar rejected Canara Bank's Section 7 application seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Globiz Exim Pvt Ltd, the corporate...
'Shocking And Bewildering': NCLT Mumbai Bench Rejects VAS Infrastructure Resolution Plan, Orders IBBI Probe Into RP
Describing the Resolution Professional's explanation for wrongly portraying VAS Infrastructure Ltd.'s development rights as ownership rights as "shocking and bewildering," the National Company Law Tribunal rejected a ₹85.05 crore resolution plan for the company. It also directed the Chairman of the Insolvency and Bankruptcy Board of India (IBBI) to investigate the Resolution Professional's conduct and consider disciplinary action. A bench of Judicial Member Ashish Kalia and Technical Member...
NCLT Mumbai Admits Kishore Biyani-Led Future Consumer Into CIRP Over ₹263.77 Crore Default
The Mumbai Bench of the National Company Law Tribunal on Wednesday admitted Kishore Biyani-led Future Consumer Ltd into the Corporate Insolvency Resolution Process (CIRP) on a petition filed by Resurgent India Special Situations Fund. The tribunal found that the company had defaulted on a financial debt, with acknowledged outstanding dues of ₹263.77 crore. A bench of Judicial Member Nilesh Sharma and Technical Member Sameer Kakar held that the requirements for initiating CIRP had been...