Bankruptcy Trustee Not Automatically Discharged Upon Filing Of Section 138 Application: NCLT Delhi

The New Delhi Bench of the National Company Law Tribunal (NCLT) on 18 February, held that a Bankruptcy Trustee does not automatically stand discharged merely upon filing an application under Section 138 of the Insolvency and Bankruptcy Code (IBC). Discharge occurs only upon the adjudicating authority passing an appropriate order. A Bench comprising Judicial Member Ashok Kumar Bhardwaj and Technical Member Reena Sinha Puri clarified that mere filing under Section 138(1) does not effectuate...

NCLT Mumbai Allows Withdrawal Of Tata Power EV Charging Solutions' Insolvency Plea Against Cab-Eez Infra Tech

The National Company Law Tribunal (NCLT) at Mumbai has allowed the withdrawal of Rs. 1.9 crore insolvency proceedings initiated by Tata Power EV Charging Solutions Ltd. against Cab-Eez Infra Tech Ltd. after the parties reached a settlement.On February 2, 2026, a bench comprising Judicial Member Nilesh Sharma and Technical Member Charanjeet Singh Gulati permitted withdrawal of Tata Power's insolvency plea under Section 12A of the Insolvency and Bankruptcy Code after noting that the companies had...

NCLT Ahmedabad Upholds Liquidator's Rejection of ₹211.87 Crore VAT and CST Claim Against Gujarat Foils

The National Company Law Tribunal (NCLT) at Ahmedabad has recently held that the liquidator of Gujarat Foils Ltd. was justified in rejecting a VAT and CST claim of about Rs 211.87 crore filed by the State Tax Department during the company's liquidation, finding that the liabilities were still disputed and pending before appellate authorities. A bench of Judicial Member Chitra Hankare and Technical Member Dr. V.G. Venkata Chalapathy observed that the claim could not be admitted when the...

NCLT Delhi Holds IBC Not A Recovery Mechanism, Dismisses Aidem Ventures' CIRP Petition Against NEWS24

The Principal Bench of the National Company Law Tribunal (NCLT) at Delhi, on 13 February, dismissed three petitions seeking the initiation of the Corporate Insolvency Resolution Process (CIRP) filed by Aidem Ventures against NEWS24 Broadcast India Limited, holding that the claims involved pre-existing contractual disputes and were primarily aimed at recovery of dues, not resolution of the corporate debtor. A Bench comprising President Ramalingam Sudhakar and Technical Member Ravindra Chaturvedi...

Revival Of Insolvency After Settlement Breach Not A Recovery Action: NCLT Ahmedabad

The National Company Law Tribunal (NCLT) at Ahmedabad, recently observed that when a settlement recognised by a judicial order is breached, the revival of insolvency proceedings does not amount to using the insolvency process as a recovery tool but merely restores the legal consequence that had already been adjudicated. A bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma made the observation while reviving insolvency proceedings against Aksa Paper Mills Pvt. Ltd. It...

NCLT Delhi Orders Liquidation Of Hero Electric Vehicles After Creditors Fail To Approve Resolution Plan

The New Delhi bench of the National Company Law Tribunal (NCLT) has recently ordered the liquidation of electric scooter maker Hero Electric Vehicles Pvt. Ltd. after the company's insolvency resolution process ended without approval of any resolution plan. A bench of Judicial Member Bachu Venkat Balaram Das and Technical Member Reena Sinha Puri held that once the Corporate Insolvency Resolution Process (CIRP) expires without an approved plan, liquidation must follow under the Insolvency and...

Compromise Scheme Under Companies Act Can Be Considered Only In Liquidation, Not During CIRP: NCLT Kochi

The National Company Law Tribunal (NCLT) at Kochi on Friday held that a scheme of compromise or arrangement under Section 230 of the Companies Act, 2013 cannot be considered during the corporate insolvency resolution process (CIRP) in the absence of a liquidation order. A coram of Judicial Member Vinay Goel observed that the statutory framework places schemes under Section 230 at the post-liquidation stage and dismissed the application seeking its sanction as premature. The proceedings arise...

NCLT Delhi Refuses To Initiate CIRP On Shikhar Dhawan's Plea Against Legends League Cricket Operator

The National Company Law Tribunal (NCLT) at New Delhi on Thursday refused to initiate insolvency proceedings against Absolute Legends Sports Pvt Ltd on a plea filed by Indian cricketer Shikhar Dhawan alleging a default of over Rs. 1.24 crore in unpaid player fees. Absolute Legends Sports Pvt. Ltd. owns and operates the Legends League Cricket, a franchise-based T20 tournament featuring retired international cricketers. A bench of Judicial Member Manni Sankariah Shanmuga Sundaram and Technical...

NCLT's Residuary Jurisdiction Under IBC Cannot Be Used To Reopen NCLAT Findings: NCLT Ahmedabad

The National Company Law Tribunal (NCLT) at Ahmedabad has recently dismissed an application filed by Bhupendra Singh Rajput, holding that its jurisdiction under Section 60(5)(c) of the Insolvency and Bankruptcy Code cannot be used to reopen or circumvent findings of the National Company Law Appellate Tribunal (NCLAT). A bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma observed, “The jurisdiction under Section 60(5)(c) is supervisory and residuary in nature and cannot be...

NCLT Kolkata Admits CIRP Against Saket Infra, Rules FRR Framework Cannot Bar Insolvency Proceedings

The National Company Law Tribunal at Kolkata on 17 February, held that the RBI's Framework for Revival and Rehabilitation (FRR) for MSMEs cannot override the Insolvency and Bankruptcy Code or prevent a financial creditor from initiating insolvency proceedings once default is established. A Bench comprising Judicial Member Bidisha Banerjee and Technical Member Siddharth Mishra observed that the plea of MSME protection was unsustainable in the absence of any contemporaneous MSME certificate...

Tribunal Not A 'Court' Under BNSS, Cannot Order Prosecution For False Evidence: NCLT Indore

The National Company Law Tribunal at Indore ruled that it does not have jurisdiction to initiate criminal prosecution under Sections 215 and 379 of the Bharatiya Nagarik Suraksha Sanhita (BNSS), holding that such powers are vested only in courts and not in statutory tribunals. Section 215 bars cognisance of certain offences relating to false evidence in judicial proceedings except on a complaint by the concerned court, while Section 379 lays down the procedure for such courts to conduct an...

NCLT Bengaluru Issues Notice To HAL In ₹8.41 Crore Insolvency Plea By Ujaas Energy Over Arbitral Award

The National Company Law Tribunal at Bengaluru on Wednesday issued notice to Public Sector Undertaking Hindustan Aeronautics Limited in a petition filed by Ujaas Energy Limited, seeking initiation of insolvency proceedings under Section 9 of the Insolvency and Bankruptcy Code over an alleged default of Rs 8.41 crore arising out of an arbitral award.A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada passed the order.Ujaas Energy contended that the debt...