NCLT Delhi Directs Bira Beer Maker To Mediate With Creditors Over Insolvency Case Settlement

The Delhi bench of the National Company Law Tribunal (NCLT) has directed B9 Beverages Limited, the company behind the Bira 91 beer brand, its promoters, certain financial creditors, and applicants in connected insolvency proceedings to participate in a mediation meeting.The meeting is aimed at exploring a possible settlement.The order was passed in a Section 7 insolvency petition filed by Unity Small Finance Bank Limited against B9 Beverages.The Special Bench comprising Judicial Member Ashok...

Absence Of Separate Notice Rejecting Claim No Ground To Reopen CIRP Or Alter Resolution Plan: NCLT Kochi

The National Company Law Tribunal (NCLT) at Kochi has ruled that even if a claimant was not separately informed that their claim had not been finally admitted, that alone does not permit the court to reopen a concluded Corporate Insolvency Resolution Process (CIRP) or modify an approved resolution plan.A coram of Judicial Member Vinay Goel and Technical Member Ravichandran Ramasamy was dealing with two applications filed by homebuyers of Nucleus Premium Properties Private Limited challenging...

Financial Hardship Cannot Excuse Repeated Non-Appearance In Insolvency Proceedings: NCLT Mumbai

The National Company Law Tribunal, Mumbai on 4 September held that financial hardship or the fact that an applicant is itself under liquidation cannot substitute the requirement of showing sufficient cause for repeated non-appearance in insolvency proceedings. A Bench comprising Judicial Member Nilesh Sharma and Technical Member Sameer Kakar dismissed liquidator Kairav Anil Trivedi's application seeking restoration of Cogent Engineers Private Limited's insolvency petition against KBK...

NCLT Mumbai Dismisses Perjury Plea Against Omkara Assets Reconstruction Over Account Differences

The National Company Law Tribunal (NCLT), Mumbai, on 3 September dismissed perjury proceedings against Omkara Assets Reconstruction Pvt Ltd, holding that alleged discrepancies in statements of account and debt records did not warrant an inquiry by a Magistrate. A Bench comprising Technical Member Prabhat Kumar and Judicial Member Sushil Mahadeorao Kochey dismissed the applications filed by Aditya Raheja under Section 340 of the Code of Criminal Procedure, 1973, in insolvency proceedings...

NCLT Indore Admits Marvel Industries Insolvency Plea Against Flexituff Technology

The Indore bench of the National Company Law Tribunal (NCLT) has initiated insolvency proceedings against FIBC manufacturer Flexituff Technology International Ltd. The tribunal found that the company had acknowledged an operational debt of ₹1.92 crore, made part-payment and issued post-dated cheques towards the balance, three of which were dishonoured.The order was passed by the bench of Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta. The operational creditor...

Mere Commercial Association, Historical Linkage Cannot Make Entity Related Party Under IBC: NCLT Chennai

The Chennai Bench of the National Company Law Tribunal (NCLT) has held that mere commercial association, historical linkage or institutional connection cannot, by itself, make an entity a “related party” under Section 5(24) of the Insolvency and Bankruptcy Code, 2016 (IBC). A Division Bench comprising Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy on 27 July set aside the classification of SREI Equipment Finance Limited (SEFL) and SREI Infrastructure Finance...

Individual Consortium Lender Can Initiate Insolvency Proceedings Against Personal Guarantor: NCLT Delhi

The New Delhi Bench of the National Company Law Tribunal (NCLT) has held that an individual consortium lender can initiate insolvency resolution proceedings under the Insolvency and Bankruptcy Code (IBC) against a Personal Guarantor without requiring all consortium lenders to jointly institute the proceedings. Judicial Member Manni Sankariah Shanmuga Sundaram and Technical Member Reena Sinha Puri rejected the objections raised by Amit Sethi, a Personal Guarantor of Santosh Overseas Limited, and...

NCLT Chandigarh Allows Kay Bee Cotgin CIRP Withdrawal, Says Amended IBC Sec. 12A Applies Prospectively

The National Company Law Tribunal (NCLT) at Chandigarh, on 20 August held that the restrictions introduced by the substituted Section 12A of the Insolvency and Bankruptcy Code, 2016, apply prospectively to Corporate Insolvency Resolution Processes (CIRPs) initiated on or after 26 May 2026. A Bench comprising Judicial Member Khetrabasi Biswal and Technical Member Kaushalendra Kumar Singh allowed Resolution Professional Sandeep Kumar Chitkara's application to withdraw the CIRP against Kay Bee...

NCLT Delhi Dismisses Personal Guarantor's Insolvency Plea, Says It Was Filed To Take Advantage Of IBC Moratorium

The Delhi bench of the National Company Law Tribunal (NCLT) has dismissed a personal insolvency petition filed by a director and guarantor of two companies. It held that the petition was filed to take advantage of the insolvency moratorium and stall recovery proceedings already initiated by Union Bank of India.“The timing of the filing of the present petition is significant. The petition has been filed after crystallisation of recovery proceedings against the Personal Guarantor and after...

NCLT Ahmedabad Declines Gensol EV Lease RP's Plea To Repossess 70 EVs From Minder

The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 7 September declined the plea by the Resolution Professional of Gensol EV Lease Ltd. to immediately repossess 70 electric vehicles (EVs) leased to Minder EV Logistics Pvt. Ltd. and recover outstanding dues of Rs. 1.29 crore. A Bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma held that the validity of the alleged termination of the lease agreements and the parties' competing contractual claims could not be...

Subsequent Buyer's Post-CIRP Electricity Dues Dispute Outside Insolvency Jurisdiction: NCLT Ahmedabad

The Ahmedabad bench of the National Company Law Tribunal (NCLT) has held that a subsequent purchaser could not invoke its insolvency jurisdiction over an electricity dues dispute that arose after completion of the insolvency process and transfer of the property.The bench comprising Judicial Member Shammi Khan and Technical Member Sanjeev Sharma observed, “The declaration sought regarding all dues of the Corporate Debtor is also beyond the scope of the jurisdiction invoked, particularly when the...

NCLT Ahmedabad Dismisses Make India Impex's ₹9.10 Crore Insolvency Plea Against Elite Green

The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 9 September dismissed an insolvency petition filed by Make India Impex against Elite Green Pvt. Ltd. over an alleged default of Rs. 9.10 crore. A Bench comprising Judicial Member Chitra Hankare and Technical Member Dr. V.G. Venkata Chalapathy observed: “There by the demand notice issued under Section 8(1) is not in order and the applicant has not complied with Section 9 (3) (b) as applicant has not furnished “no pre-existing...