NCLT Ahmedabad Rejects Creditor's Claim After Resolution Plan Approval Despite Civil Court Decree

The National Company Law Tribunal (NCLT), Ahmedabad, has rejected a creditor's plea to pursue a ₹14.11 lakh claim against Techno Forge Limited after approval of its resolution plan, despite a civil court decree in the creditor's favour.The tribunal held that the claim could not be condoned or restored after the resolution plan was approved, as the creditor had failed to lodge it during the corporate insolvency resolution process (CIRP).The bench of Judicial Member Chitra Hankare and Technical...

NCLT Chandigarh Says Mere Directorship Insufficient For Fraud, Dismisses Plea Against 18 Directors

The Chandigarh Bench of the National Company Law Tribunal (NCLT) has held that mere designation as a director or participation in the management of a corporate debtor cannot, by itself, attract personal liability for fraudulent trading under the Insolvency and Bankruptcy Code (IBC). A Bench comprising Technical Member Kaushalendra Kumar Singh and Judicial Member Khetrabasi Biswal dismissed an application filed by Resolution Professional (RP) Darshan Singh Anand in the insolvency proceedings of...

NCLT Ahmedabad Admits ₹2.78 Cr. Insolvency Plea Against Polycab, Rejects 'Provisional Billing' Defence

On 7 October, the Ahmedabad Bench of the National Company Law Tribunal (NCLT) admitted the insolvency petition filed by Asier Metals Pvt. Ltd. against Polycab India Ltd. over an operational debt default of Rs. 2.78 crore.A Bench comprising Judicial Member Shammi Khan and Technical Member Sanjeev Sharma held that a dispute raised after a demand notice cannot establish a pre-existing dispute to defeat an insolvency petition. It observed: “...the claim before the Tribunal is not founded merely...

NCLT Ahmedabad Refuses To Recall Withdrawal Order Where Counsel Was Authorised To Withdraw Petition

The National Company Law Tribunal (NCLT), Ahmedabad Bench, has refused to use its inherent powers to recall an order dismissing a contempt petition as withdrawn, holding that the counsel who sought withdrawal was expressly authorised to do so under the Vakalatnama. “In view of the Vakalatnama authorising withdrawal and absence of any ground recognised in law for recall, no case is made out for exercise of the inherent power under Rule 11 of the NCLT Rules, 2016,” the bench of Judicial Member...

Rejoinder Material Cannot Be Excluded At Preliminary Stage If It Relates To Debt, Default: NCLT Chandigarh

The National Company Law Tribunal (NCLT), Chandigarh Bench, has declined to remove documents and explanations introduced through a rejoinder from the record of an insolvency proceeding. It held that their relevance to the dispute over debt and default should be examined when the main petition is heard.“The material sought to be excised, being ledger reconciliations, TDS records, and the explanation regarding the disputed payment of Rs. 11,00,000/-, bears directly upon the question of debt and...

Grounds Already Considered Cannot Be Re-Agitated In Subsequent Recall Application: NCLT Guwahati

The National Company Law Tribunal (NCLT), Guwahati Bench, has held that grounds already considered while deciding an earlier recall application cannot be re-agitated in a subsequent application seeking recall of that order.The company had earlier filed a recall application, which was dismissed by the tribunal on August 10The tribunal observed, “The grounds urged in the present Application have already been considered and dealt with by this Tribunal in its Order dated 10.08.2026 passed in...

Personal Guarantor Not Discharged Where Original Guarantee Expressly Covered Restructuring: NCLT Delhi

The National Company Law Tribunal (NCLT) at Delhi has held that a personal guarantor is not discharged from liability merely because she did not sign subsequent renewal or restructuring documents, where the original guarantee expressly provides that such variations will not release her from the guarantee.The court found that the guarantee executed by Raj Kumari Garg was continuing and irrevocable and expressly contemplated variations in the facilities without discharging the guarantor. It also...

Raising Interim Finance to Discharge Estate Dues Falls Within CoC's Commercial Wisdom: NCLT Chandigarh

The Chandigarh bench of the National Company Law Tribunal (NCLT) has held that the decision to raise interim finance for discharging disputed Estate Office dues falls within the commercial wisdom of the Committee of Creditors (CoC). The bench of Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal observed,“The decision to discharge the Estate Office dues under protest through interim finance provided by the SRA, while simultaneously contesting the disputed components before...

NCLT Ahmedabad Rejects Movemate's Insolvency Plea Against OYO Over Disputed Logistics Dues

On 29 September the Ahmedabad Bench of the National Company Law Tribunal (NCLT) comprising Judicial Member Chitra Hankare and Technical Member Dr VG Venkata Chalapathy rejected an insolvency petition filed by Movemate Logistics Private Limited against OYO Hotels Private Limited over alleged unpaid dues for warehousing, logistics and allied services. Movemate Logistics, registered under the Companies Act, 2013 and the MSME Act, 2006, provided warehousing, logistics, transportation and allied...

NCLT Delhi Rejects Cine Corp Filmdom's Resolution Plan For Stargaze Entertainment, Orders Liquidation

The National Company Law Tribunal (NCLT), Delhi, has ordered liquidation of Stargaze Entertainment Pvt. Ltd., a cinema exhibition company, after rejecting a resolution plan. The Tribunal held that the Corporate Insolvency Resolution Process (CIRP) was itself vitiated because the Resolution Professional failed to take control of the company's assets.The bench of Judicial Member Ashok Kumar Bhardwaj and Technical Member Atul Chaturvedi observed,“We also fail to appreciate that how without taking...

Denying Director Access To Records, Forcing Undervalued Sale Of Shares Is Oppression: NCLT Kolkata

The National Company Law Tribunal (NCLT), Kolkata, has held that denying a director and shareholder access to a company's financial records, forcing her to part with her shares at an undervalued price and withholding her remuneration amounted to oppression under Section 241 of the Companies Act, 2013. A Bench comprising Judicial Member Bidisha Banerjee and Technical Member Rekha Kantilal Shah held that the conduct of Nex Fitzap Private Limited towards Nivedita Tiwari, a director and 10%...

Valuable Contractual Rights Can Justify Restoration Of Struck-Off Company: NCLT Mumbai

The National Company Law Tribunal (NCLT), Mumbai, on 11 September held that the existence of valuable property and subsisting contractual rights can constitute “just” ground for restoring a company struck off from the register under Section 252(3) of the Companies Act, 2013. A Bench comprising Technical Member Hariharan Neelakanta Iyer and Judicial Member Lakshmi Gurung directed the Registrar of Companies (RoC), Mumbai to restore MDED Estates Private Limited to “Active” status, subject to...