LiveLawBiz IBC Quarterly Digest: July - September, 2026
Kirit Singhania
5 Oct 2026 7:45 PM IST
SUPREME COURT
Case Title : POOJA RAMESH SINGH Versus JAMMU AND KASHMIR BANK LTD AND ANR.
Case Number : C.A. No. 11950/2025
Comparing fake AI-generated legal material to the release of methyl isocyanate (the gas behind the Bhopal gas tragedy), the Supreme Court on Thursday warned that artificial intelligence could become "invisible, insidious, catastrophic" if used without safeguards.
The court set aside insolvency orders against Essel Infraprojects Ltd after finding that the National Company Law Tribunal and the National Company Law Appellate Tribunal had relied on non-existent, hallucinated case law.
Case Title : H.D.F.C. BANK LIMITED VERSUS KISHORE K. MEHTA (DEAD) THR. LRS.
Case Number : CIVIL APPEAL NO. 4211 OF 2010
CITATION : 2026 LLBiz SC 234
The Supreme Court on Monday held that a recovery certificate issued by a Debt Recovery Tribunal (DRT) before the 2016 amendment to the Recovery of Debts and Bankruptcy Act cannot be treated as a decree or order for initiating insolvency proceedings under the Bombay's Presidency Towns Insolvency Act, 1909. Dismissing HDFC Bank's appeal, the court observed that Parliament recognised such equivalence only through the 2016 amendment.
Case Title : M/s Tata Steel Ltd v. Varsha and Anr
Case Number : Civil Appeal Nos. 9052-9053 of 2026
CITATION : 2026 LLBiz SC 242
The Supreme Court on Friday observed that small operational creditors, including MSMEs and statutory local bodies, remain "significantly disenfranchised" under the Insolvency and Bankruptcy Code (IBC) by being placed at the bottom of the repayment waterfall. Observing that the issue falls within the legislative domain, the court urged the Law Commission of India and the legislature to examine whether a fairer repayment mechanism could be devised without compromising the efficiency and commercial certainty of the insolvency resolution process.
Case Title : VENUGOPAL DHOOT vs VOVL LIMITED
Case Number : C.A. 8718/2026
The Supreme Court on Tuesday issued notice in an appeal filed by Videocon Group founder Venugopal Dhoot. The appeal challenges the National Company Law Appellate Tribunal's (NCLAT) May 14, 2026, decision refusing to include the foreign oil and gas assets of Videocon Oil Venture Ltd. (VOVL) and its overseas subsidiaries in the corporate insolvency resolution process (CIRP) of Videocon Industries Ltd.
IBC Moratorium Applies Only To Corporate Debtor, Not Directors Or Promoters: Supreme Court
Case Title : TEJAS J.SHAH & AMISHA T. SHAH & ORS VERSUS MANTRI TECHNOLOGY CONSTELLATIONS PVT.LTD.
Case Number : CIVIL APPEAL NOS.4289-4290 OF 2025
CITATION : 2026 LLBiz SC 248
The Supreme Court on Monday held that the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016, operates only against the corporate debtor. It ruled that courts or adjudicating authorities cannot enlarge its scope to cover directors, promoters, subsidiary companies, personal guarantors or any other persons unless the statute expressly provides so. The court observed that the scope of the moratorium is statutory and must remain confined to what Section 14 contemplates.
Case Title : ONE CITY INFRASTRUCTURE PRIVATE LIMITED Versus GHAZIABAD DEVELOPMENT AUTHORITY AND ORS.
Case Number : C.A. No. 4473/2026
The Supreme Court on Thursday criticised the Ghaziabad Development Authority (GDA) and the Uttar Pradesh government for delaying approvals required to implement the resolution plan for Ansal Urban Condominiums Pvt. Ltd. (AUCPL), saying the authorities' "callous attitude" had forced around 1,600 homebuyers to litigate for nearly two decades. The court was hearing an appeal filed by One City Infrastructure Pvt. Ltd., the successful resolution applicant (SRA) for AUCPL, against the National Company Law Appellate Tribunal's (NCLAT) orders dated April 22, 2024, and February 5, 2026.
Supreme Court Upholds CIRP Against Rana Kapoor-Linked Bliss Companies
Case Title : BINDU KAPOOR SUSPENDED DIRECTOR BLISS ABODE PRIVATE LIMITED vs MAMTA BINANI RESOLUTION PROFESSIONAL
Case Number : C.A. 8431/2026
The Supreme Court on Friday refused to interfere with the National Company Law Appellate Tribunal's (NCLAT) judgment upholding the initiation of corporate insolvency resolution proceedings (CIRP) against Rana Kapoor-linked Bliss Abode Pvt. Ltd. and Bliss House Pvt. Ltd. It dismissed the appeals filed by suspended director Bindu Kapoor. A bench of Justices Sanjay Kumar and Sanjeev Sachdeva declined to interfere with the NCLAT's decision upholding the admission of Section 7 applications filed by JC Flowers Asset Reconstruction Pvt. Ltd.
Uncrystallised EPFO Interest, Damages Are Contingent Liabilities Under IBC: Supreme Court
Case Title : EMPLOYEES PROVIDENT FUND ORGANISATION VERSUS RACHNA JHUNJHUNWALA & ANR.
Case Number : Civil Appeal No(s). 9768/2026
CITATION : 2026 LLBiz (SC) 254
The Supreme Court has recently held that interest and damages on unpaid provident fund dues, if not determined before the commencement of the Corporate Insolvency Resolution Process (CIRP), are contingent liabilities. "Though PF dues are excluded from the liquidation estate under Section 36(4)(iii) of IBC, liability of CD towards interest and damages payable under Section 7Q and 14B of the 1952 Act, if not determined and finalized before CIRP commencement, would fall in the category of a contingent liability," the court ruled.
Underlying Contract's Subsistence Cannot Revive Time-Barred Debt Under IBC: Supreme Court
Case Title : Srinivasa Reddy Velagala v. Sravanthi Infratech Pvt Ltd
Case Number : Civil Appeal No. 876 of 2021
CITATION : 2026 LLBiz SC 272
The Supreme Court on Wednesday held that the mere subsistence of an underlying contract cannot give a creditor a continuing cause of action for an IBC default that has already occurred. It consequently ruled that a time-barred debt cannot be revived through insolvency proceedings. Justices J.B. Pardiwala and Manoj Misra held that the operational creditor's claims had crystallized in 2012, but it failed to pursue them within three years. The Court held that the insolvency application filed in 2018 was therefore barred by limitation.
Case Title : DAVIS KOOTTALA VARKEY & ORS. VERSUS SAMSON T. GEORGE & ORS.
Case Number : SPECIAL LEAVE PETITION No.18523/2026
CITATION : 2026 LLBiz SC 278
The Supreme Court has set aside a Kerala High Court order that entertained a writ petition challenging an NCLT order passed during liquidation proceedings.
Supreme Court To Examine If Winding-Up Petitions Transferred From HC To NCLT Must Meet IBC Threshold
Case Title : M/S AIDEM VENTURES PVT. LTD. VS. M/S. SKYLINE RADIO NETWORK LTD.
Case Number : DIARY NO. - 40757/2026
The Supreme Court on Wednesday agreed to examine whether a winding-up petition filed before a High Court can be subjected to the ₹1 crore minimum default threshold under the Insolvency and Bankruptcy Code after being transferred to the National Company Law Tribunal.
The Supreme Court on Thursday stayed the operation of the National Company Law Appellate Tribunal's (NCLAT) July 29, 2026.
The NCLAT held that the NCLT can adjudicate a dispute concerning an easementary right of way under the Insolvency and Bankruptcy Code where the dispute has a direct nexus with the insolvency or liquidation proceedings and affects value maximisation of the corporate debtor's assets.
Case Title : DEVENDRA SINGH YADAV AND ANR. vs BHUVAN MADAN AND ANR.
Case Number : C.A. No. 9798/2026
The Supreme Court on Tuesday upheld the National Company Law Appellate Tribunal's refusal to grant relief to an allottee of a Jaiprakash Associates Ltd. project, who had sought refund of around ₹4 lakh demanded from him towards common area charges after he had taken possession of his unit. A Bench comprising Chief Justice of India Surya Kant and Justices Joymalya Bagchi and V. Mohana after hearing the case, refused to interfere with the NCLAT order dated May 14, 2026.
Case Title : CANARA BANK (E-SYNDICATE BANK) VS. EQUINOX INDIA DEVELOPMENTS LIMITED
Case Number : DIARY NO. - 36294/2026
The Supreme Court on Monday issued notice on Canara Bank's challenge to the NCLAT order setting aside the admission of its Section 7 insolvency petition against Equinox India Developments Ltd., formerly Indiabulls Real Estate Ltd.
Case Title : STATE BANK OF INDIA AND ORS. Versus MANOJ KUMAR DAS AND ORS.
Case Number : C.A. No. 10778-10780/2026
The Supreme Court on Monday, 31 August, declined to interfere with the National Company Law Appellate Tribunal's (NCLAT) 30 June order which held that provident fund, gratuity and pension dues payable to Jet Airways' workmen do not form part of the liquidation estate, even where segregated funds were not available on the liquidation commencement date. A Bench of Chief Justice Surya Kant with Justices Joymalya Bagchi and V. Mohana refused to interfere with the order, while leaving the questions of law raised by the financial creditors open for consideration in an appropriate future case.
Case Title : CANARA BANK (E-SYNDICATE BANK) VS. EQUINOX INDIA DEVELOPMENTS LIMITED
Case Number : DIARY NO. - 36294/2026
The Supreme Court on Monday issued notice on Canara Bank's challenge to the NCLAT order setting aside the admission of its Section 7 insolvency petition against Equinox India Developments Ltd., formerly Indiabulls Real Estate Ltd. A Bench of Justices J.B. Pardiwala and K. Vinod Chandran said the matter requires consideration and issues notice in Canara Bank's special leave petition.
Case Title : STATE BANK OF INDIA AND ORS. Versus MANOJ KUMAR DAS AND ORS.
Case Number : C.A. No. 10778-10780/2026
The Supreme Court on Monday, 31 August, declined to interfere with the National Company Law Appellate Tribunal's (NCLAT) 30 June order which held that provident fund, gratuity and pension dues payable to Jet Airways' workmen do not form part of the liquidation estate, even where segregated funds were not available on the liquidation commencement date. A Bench of Chief Justice Surya Kant with Justices Joymalya Bagchi and V. Mohana refused to interfere with the order, while leaving the questions of law raised by the financial creditors open for consideration in an appropriate future case.
Supreme Court Issues Notice On Plea Against NCLAT Ruling Allowing ED Action During IBC Moratorium
Case Title : VALUE WISE CONSULTANCY PRIVATE LIMITED vs THE DEPUTY DIRECTOR AND ORS.
Case Number : C.A. 10730/2026
Today, the Supreme Court issued notice on a plea by Value Wise Consultancy Private Limited, the liquidator of Siddhi Vinayak Logistics Ltd, challenging a National Company Law Appellate Tribunal (NCLAT), Delhi judgment which held that the Insolvency and Bankruptcy Code (IBC) moratorium does not stop the Enforcement Directorate (ED) from taking action under the Prevention of Money Laundering Act (PMLA).
Termination of Insolvency Process Cannot Be Challenged When Order Also Granted Relief: Supreme Court
Case Title : SANJAY KUMAR BHUWALKA VERSUS ACHAL KUMAR JINDAL & ANR.
Case Number : CIVIL APPEAL NO(S).10657/2026
CITATION : 2026 LLBiz SC 292
The Supreme Court has dismissed a creditor's appeal against the termination of a company's insolvency process, observing that it failed to understand how the order could be challenged when the proceedings had been terminated and relief had also been granted through that termination. “Termination of legal proceedings cannot be a ground for assailing the same particularly when the relief has also granted by such termination of legal proceedings viz., Corporate Insolvency Resolution Process (CIRP) in the instant case,” the top court observed.
Homebuyers Cannot Be Made To Bear Penal Charges For Project Delays As CIRP Costs: Supreme Court
Case Title : The Authorised Representative for Granite Gate Properties Private Limited, Ms. Rakesh Verma Versus M/s New Okhla Industrial Development Authority and Ors.
Case Number : Civil Appeal No. 3132 of 2026
CITATION : 2026 LLBiz SC 295
The Supreme Court has ruled in a case that time extension charges imposed for delays caused by a defaulting developer are penal in nature. They cannot be passed on to homebuyers as costs of the Corporate Insolvency Resolution Process (CIRP), observing that the default was that of the developer and homebuyers could not be made to bear that liability.
"The time extension charges in any event are penal in nature and the developer who has caused the default having ended up in a CIRP, the inclusion as CIRP costs would be unjust and misconceived. The default was of the developer and homebuyers cannot be mulcted with that liability," the court observed.
Case Title : MOHD NAZIM KHAN vs HDFC BANK LIMITED AND ORS.
Case Number : C.A. 12083/2026
The Supreme Court on Wednesday refused to interfere with a National Company Law Appellate Tribunal (NCLAT) order holding that a Committee of Creditors' decision on an Interim Resolution Professional's remuneration is subject to judicial scrutiny. However, after examining the decision on merits, the NCLAT upheld the CoC's decision to fix the IRP's total remuneration at ₹3 lakh. A Division Bench of Justices P.S. Narasimha and Alok Aradhe after hearing the parties, refused to interfere with the NCLAT order.
Case Title : ASMITHA MICROFIN LIMITED VS. RESERVE BANK OF INDIA
Case Number : DIARY NO. - 48051/2026
The Supreme Court on Thursday issued notice on a challenge to a National Company Law Appellate Tribunal (NCLAT) ruling that refused to allow an NBFC to initiate insolvency proceedings against itself. The tribunal held that the company remained a financial service provider despite cancellation of its Reserve Bank of India (RBI) registration under the Insolvency and Bankruptcy Code (IBC).
IBC Appeal Limitation Runs From NCLAT Order, Not Receipt Of Certified Copy: Supreme Court
Case Title : EMPLOYEE S PROVIDENT FUND ORGANIZATION VERSUS COC OF VAS DATA SERVICES PVT. LTD.
Case Number : Diary No(s). 32869/2026
The Supreme Court has recently ruled that the limitation period for an appeal against an NCLAT order would run from the date the order is provided, and not from the date a certified copy is obtained. “Assuming that under the NCLAT Rules, 2016, there is an obligation to provide copy of the order to the parties, the period of limitation would run from the date when the order is provided under NCLAT Rules, 2016, and not from the date when certified copy is obtained,” a Division Bench of Justice Manoj Misra and Justice Vijay Bishnoi observed.
Case Title : REGIONAL PROVIDENT FUND COMMISSIONER-II vs. MS. MAMTA BINANI & ORS.
Case Number : DIARY NO.42931 OF 2026
CITATION : 2026 LLBiz SC 309
The Supreme court has held that a litigant cannot be made to suffer when a court or tribunal's e-filing system prevents papers from being filed despite a bona fide attempt within the prescribed limitation period.
“When the system of the court/tribunal fails to receive the papers, which are sought to be presented bona fide and within the prescribed time, the litigant cannot be rendered remediless on the specious ground that the court/tribunal has no power to condone the delay,” a bench of Justice Dipankar Datta and Justice Sheel Nagu observed.
Case Title : The Committee of Creditors of Think & Learn Pvt Ltd vs Riju Raveendran & Ors
Case Number : C.A. 2594/2026
The Supreme Court on Monday reserved its verdict on a challenge by the Committee of Creditors (CoC) against its exclusion from proceedings concerning a plea to remove GLAS Trust Company LLC from the CoC of Think & Learn Pvt. Ltd. The challenge arises from the NCLAT's February 24, 2026, order concerning the CoC's impleadment in the proceedings initiated by former Byju's director Riju Ravindran.
Case Title : ANSHUL GUPTA VS. INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
Case Number : DIARY NO. - 57176/2026
The Supreme Court on Monday issued notice on a plea filed by insolvency professional Anshul Gupta challenging the National Company Law Appellate Tribunal's (NCLAT) order holding that an insolvency professional whose registration is suspended cannot continue to act in other ongoing insolvency proceedings. A Bench of Justices Manoj Misra and Vijay Bishnoi, however, did not stay the NCLAT order and directed the appellate tribunal to decide Gupta's appeal in the meantime.
Supreme Court Directs Impleadment Of CoC In Plea To Remove GLAS Trust From Byju's CoC
Case Title : The Committee of Creditors of Think and Learn Private Limited Versus Riju Ravindran and Ors.
Case Number : Civil Appeal No.2594 of 2026
CITATION : 2026 LLBiz SC 318
The Supreme Court has recently directed the Committee of Creditors (CoC) of Think & Learn Pvt Ltd. to be impleaded in proceedings concerning a plea by suspended director Riju Ravindran seeking removal of GLAS Trust Company LLC from the CoC. A division bench of Justices J.B. Pardiwala and K. Vinod Chandran taking into account the consent of the parties, directed that IA No. 466 of 2025, which was reserved for orders on Riju Ravindran's plea concerning the removal of GLAS Trust from the CoC, be listed before the NCLT Bengaluru within two weeks with the CoC impleaded and heard.
Can NCLT Allow Withdrawal Of CoC-Approved Resolution Plan? Supreme Court Reserves Verdict
Case Title : BANK OF INDIA VS. S.M KAMAL PASHA
Case Number : DIARY NO. - 37619/2026
The Supreme Court on Wednesday reserved its judgment on whether the National Company Law Tribunal can permit withdrawal of an application seeking approval of a resolution plan after the Committee of Creditors has approved the plan and submitted it to the Adjudicating Authority A Bench of Justices J.B. Pardiwala and K. Vinod Chandran was hearing Indian Bank's challenge against the National Company Law Appellate Tribunal's April 20, 2026, order concerning TD Toll Road Pvt Ltd, which had set aside the NCLT's decision allowing withdrawal of the resolution plan approval application.
Case Title : GREENOPOLIS WELFARE CONFEDERATION vs RAKESH KUMAR GUPTA AND ORS.
Case Number : C.A. No. 6792-6796/2023
CITATION : 2026 LLBiz SC 321
The Supreme Court has held that the National Company Law Tribunal (NCLT) can recall an order admitting insolvency proceedings if the jurisdictional facts on which the proceedings were based are later found to have been affected by fraud or collusion. The court, however, clarified that such a finding does not automatically mean that the entire Corporate Insolvency Resolution Process (CIRP) must end.
HIGH COURT
Case Title : Uttamchand Devichand Shah AND The official assignee, High Court, Bombay.
Case Number : OFFICIAL ASSIGNEE REPORT NO. 46 OF 2025 IN INSOLVENCY PETITION NO. 28 OF 2001
CITATION : 2026 LLBiz HC (BOM) 369
The Bombay High Court on Thursday held that a creditor does not need to obtain a decree before lodging a claim with the Official Assignee after a debtor is declared insolvent under the Presidency Towns Insolvency Act, 1909.
Case Title : Sri Vineet Mohan Gupta & Anr. Vs. Canara Bank & Ors.
Case Number : AD-COM 2 OF 2026 With IA No.: CAN 1 of 2026
CITATION : 2026 LLBiz HC (CAL) 166
The Calcutta High Court has recently held that a civil suit filed before insolvency proceedings are initiated cannot be dismissed merely because proceedings under the Insolvency and Bankruptcy Code (IBC) begin later.
Case Title : Ambootia Tea Exports Private Limited & Ors. Vs. Sri Rani Sati Abasan Private Limited
Case Number : AD COM 3 of 2026
CITATION : 2026 LLBiz HC (CAL) 167
The Calcutta High Court has held that a court cannot entertain a suit instituted during the operation of an interim moratorium under the Insolvency and Bankruptcy Code where the statutory bar applies. It ruled that once the embargo is brought to the court's notice, the court must act in accordance with the law. Where the statutory conditions are met, the plaint must be rejected. A division bench of Justice Debangsu Basak and Justice Md. Shabbar Rashidi set aside a February 5, 2026 judgment of a Single Judge. The Single Judge had rejected an application by Ambootia Tea Exports Pvt. Ltd. (corporate debtor) and its directors seeking rejection of the plaint. It had instead decreed Sri Rani Sati Abasan Pvt. Ltd.'s (the lender) money recovery suit on admission.
Article 227 Cannot Be Used To Bypass NCLAT Remedy Against NCLT Orders: Kerala High Court
Case Title : The Erattupetta Municipality v. The National Company Law Tribunal and Anr
Case Number : OP(C) No. 2718 of 2023
CITATION : 2026 LLBiz HC(KER) 132
The Kerala High Court on 14 July held that parties cannot invoke the High Court's supervisory jurisdiction under Article 227 of the Constitution to challenge orders passed by the National Company Law Tribunal (NCLT) when the Insolvency and Bankruptcy Code, 2016 provides an effective statutory appellate remedy before the National Company Law Appellate Tribunal (NCLAT).
IBBI Chairperson Cannot Act As Disciplinary Committee Under IBC: Calcutta High Court
Case Title : Sashi Agarwal v. Union of India and Ors
Case Number : WPA 10330 of 2022
Citation: 2026 LLBiz HC(CAL) 176
The Calcutta High Court on 16 July held that the Chairperson of the Insolvency and Bankruptcy Board of India (IBBI) cannot act as the Disciplinary Committee under the Insolvency and Bankruptcy Code (IBC), as the Committee can consist only of Whole-Time Members of the IBBI. Justice Shampa Sarkar allowed the petition filed by Sashi Agarwal, an Insolvency Professional, and set aside the IBBI order cancelling his registration under Section 220(2) of the IBC, which empowers the Disciplinary Committee to pass orders after considering a report of investigation.
Case Title : Rajaram Food Products India Limited Vs The Joint District Registrar (Class-1) and Collector of Stamps, Nashik and others
Case Number : WRIT PETITION NO. 3018 OF 2026
CITATION : 2026 LLBiz HC(BOM) 404
The Bombay High Court has held that a liquidator conducting a public auction under the Insolvency and Bankruptcy Code (IBC) qualifies as an officer under the Registration Act. Therefore, a sale certificate issued during such an auction is exempt from compulsory registration and stamp duty. The exemption continues so long as only a copy of the sale certificate is filed with the registering authority. Stamp duty becomes payable only if the purchaser later seeks to use the sale certificate for any other purpose.
IBC Moratorium Won't Extinguish Directors' Criminal Liability For Cheque Bounce: Punjab & Haryana HC
Case Title : Ajay Gupta and another Vs Can Bank Factors Limited
Case Number : CRM-M-45498-2019 (O&M)
CITATION : 2026 LLBiz HC(PNH) 36
The Punjab and Haryana High Court on 20 July held that the moratorium under the Insolvency and Bankruptcy Code, 2016 (IBC) cannot extinguish a director's criminal liability for dishonour of cheques issued before commencement of insolvency proceedings against the company. Justice Manisha Batra dismissed a petition filed by Ajay Gupta seeking quashing of proceedings under Section 138 of the Negotiable Instruments Act, 1881 (NI Act) for cheque dishonour, holding that subsequent insolvency and liquidation proceedings of the company cannot shield directors from criminal prosecution for offences already committed.
KSEB Cannot Demand Previous Owner's Power Dues From Auction Purchaser: Kerala High Court
Case Title : G. Nagendran v. Kerala State Electricity Board and Anr
Case Number : WA No. 1718 of 2022
CITATION : 2026 LLBiz HC(KER) 146
The Kerala High Court on Tuesday held that the Kerala State Electricity Board (KSEB) cannot insist that an auction purchaser of the assets of a company in liquidation clear the previous consumer's electricity arrears as a condition for obtaining a fresh electricity connection. A Division Bench of Justice A.K. Jayasankaran Nambiar and Justice Preeta A.K. ruled that the Electricity Act, 2003, the Kerala Electricity Supply Code, 2005; and the KSEB Terms and Conditions of Supply, 2005 do not permit recovery of an erstwhile consumer's dues from a subsequent purchaser seeking a fresh electricity connection.
Case Title : Tata Capital Financial Services Limited v. Neel Motors LLP and Ors
Case Number : Commercial Arbitration Petition No. 620 of 2021
CITATION : 2026 LLBiz HC(BOM) 430
The Bombay High Court has ruled that a recent amendment removing the automatic interim moratorium available to personal guarantors to corporate debtors under the Insolvency and Bankruptcy Code applies even to pending insolvency proceedings. Justice Somasekhar Sundaresan observed that the amendment, which took effect on May 26, 2026, applies to pending proceedings and operates retroactively, not retrospectively.
Case Title : Canbank Financial Services Ltd Versus Pallav Sheth
Case Number : SHOW CAUSE NOTICE NO. 2 OF 2025 IN OFFICIAL ASSIGNEE'S REPORT NO. 9 OF 2024 IN INSOLVENCY PETITION NO. 49 OF 1996
CITATION : 2026 LLBiz HC (BOM) 447
The Bombay High Court on 7 August held insolvent Pallav Sheth guilty of contempt under Section 33(4) of the Insolvency Act, 1909 for wilfully failing to disclose his assets and bank accounts to the Official Assignee, and sentenced him to one month's simple imprisonment with a fine of Rs. 2,000, with one week's further imprisonment in default. Justice N.J. Jamadar observed that an insolvent who makes positive statements on oath concealing assets and bank accounts cannot later invoke limitation to defeat contempt proceedings arising from such concealment.
Case Title : KANWAL CHAUDHARY vs INSOLVENCY AND BANKRUPTCY BOARD OFINDIA & ORS.
Case Number : W.P.(C) 9410/2021
The Delhi High Court on Thursday held that advocates rendering services as insolvency professionals must obtain GST registration, ruling that such services are subject to the forward charge mechanism and not the reverse charge mechanism applicable to legal services provided by advocates. A bench of Justices Pratibha M. Singh and Shail Jain passed the judgment on a petition filed by advocate Kanwal Chaudhary challenging an Insolvency and Bankruptcy Board of India (IBBI) order dated March 9, 2021.
Kerala High Court Expunges NCLT's Adverse Remarks Against Union Bank, Sets Aside ₹1 Lakh Cost
Case Title : Union Bank of India v. M/s Air Travel Enterprises India Limited
Case Number : WP(C) No. 25401 of 2026
CITATION : 2026 LLBiz HC(KER) 162
The Kerala High Court has expunged adverse observations made by the National Company Law Tribunal, Kochi Bench, against Union Bank of India over errors in an application seeking withdrawal of insolvency proceedings. The court also held that the bank would not be required to deposit the ₹1 lakh cost imposed by the tribunal. Justice Harisankar V. Menon observed that the bank had made mistakes in the application. These included invoking the wrong provision and not placing the settlement proposal before the Committee of Creditors.
Case Title : Jagmohan Garg v. National Spot Exchange Ltd and Anr
Case Number : Application No. 1749 of 2024
CITATION : 2026 LLBiz HC(BOM) 464
The Bombay High Court has held that personal insolvency proceedings initiated by a company director do not require cheque-bounce proceedings against the director to be stayed where the dishonoured cheque was issued towards the company's debt.
Insolvency Does Not Bar Liquidator From Recovering Chit Company Dues: Madras High Court
Case Title : P.V Krishnaprasad v. The Inspector General of Registration and Ors
Case Number : Crl.OP No. 21824 of 2026
CITATION : 2026 LLBiz HC(MAD) 240
The Madras High Court on 10 August held that the pendency of insolvency proceedings against a chit company does not prevent its Liquidator from taking steps under the Chit Funds Act, 1982 to recover amounts due to the company. Justice D. Bharatha Chakravarthy directed the Economic Offences Wing (EOW) to furnish the Liquidator of Thiripura Chits Private Limited with a complete set of investigation materials so that he could initiate recovery proceedings under the Chit Funds Act.
RERA Recovery Proceedings Not Automatically Illegal During CIRP: Karnataka High Court
Case Title : Mr. M Govind Reddy and Anr v. The State of Karnataka and Ors
Case Number : Writ Petition No. 23165 of 2026
CITATION : 2026 LLBiz HC (KAR) 147
The Karnataka High Court on 11 August held that the mere pendency of the Corporate Insolvency Resolution Process (CIRP) against a developer does not automatically render recovery proceedings initiated under another statute illegal.
IBC Amendment Excluding Personal Guarantors From Interim Moratorium Is Retroactive: Delhi High Court
Case Title : IDBI TRUSTEESHIP SERVICES LIMITED vs MANISH JAIN & ORS.
Case Number : CS(COMM) 800/2025
CITATION : 2026 LLBiz HC (DEL) 859
The Delhi High Court on 19 August held that the amendment inserting Section 96(4) into the Insolvency and Bankruptcy Code, 2016 (IBC) is retroactive and applies to pending insolvency applications, even though the Amending Act does not expressly say so.
Bombay High Court Upholds IBBI's Power To Levy 0.25% Fee On Successful Resolution Plans
Case Title : Hazel Mercantile Limited and Others v, Insolvency and Bankruptcy Board of India and Anr
Case Number : Writ Petition No. 703 of 2023
CITATION : 2026 LLbiz HC(BOM) 467
The Bombay High Court on 19 August upheld the validity of Regulation 31A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, holding that the provision enabling the IBBI to levy a regulatory fee on successful resolution plans is neither ultra vires the Insolvency and Bankruptcy Code, 2016 nor violative of Article 14 of the Constitution.
Case Title : Jaiprakash Associates Limited vs The Office Of The Commissioner Of Customs Air Cargo Complex Import & Anr.
Case Number : W.P.(C) 10387/2026
CITATION : 2026 LLBiz HC (DEL) 915
The Delhi High Court has held that a pre-insolvency customs claim against Jaiprakash Associates Limited stood extinguished after the Customs Department failed to submit it during the company's insolvency process and the resolution plan was approved.
Bombay High Court Quashes Insolvency Professional's Suspension Over SCN Based On Extraneous Material
Case Title : Jitender Kumar Jain Versus Union of India & Ors.
Case Number : WRIT PETITION (L) NO. 2817 OF 2025
CITATION : 2026 LLBiz HC (BOM) 491
The Bombay High Court has quashed an Insolvency and Bankruptcy Board of India (IBBI) Disciplinary Committee order suspending insolvency professional Jitender Kumar Jain's authorisation for assignment for three months. The court found that the show-cause notice issued to Jain was based on material outside the investigation conducted against him. A Bench of Justice Manish Pitale and Justice Shreeram V. Shirsat delivered the judgment on August 25, 2026.
Case Title : PATANJALI FOODS LIMITED vs SHIVSHANKAR SINGH & Ors
Case Number : WRIT PETITION No.6797 OF 2026
CITATION : 2026 LLBiz HC (BOM) 516
On 7 September, the Nagpur Bench of the Bombay High Court rejected Patanjali Foods Ltd.'s challenge to its impleadment in a pending labour dispute concerning an employee of Ruchi Soya Industries Ltd. Justice Nandesh S. Deshpande dismissed Patanjali Foods's writ petition and upheld the orders of the Labour Court and Industrial Court, while leaving it free to raise its defences based on the resolution plan before the Labour Court.
Calcutta High Court Quashes Income-Tax Reassessment Against McNally Bharat After IBC Resolution Plan
Case Title : McNally Bharat Engineering Company Limited v. Union of India and Others
Case Number : WPO 546 of 2024
CITATION : 2026 LLBiz HC (CAL) 224
The Calcutta High Court has quashed income-tax reassessment proceedings against McNally Bharat Engineering Company Limited, holding that the authorities failed to satisfy the statutory conditions for reopening the assessment and acted contrary to the company's NCLT-approved resolution plan. Justice Smita Das De allowed the company's writ petition and set aside the notice and order issued by the tax authorities along with all consequential proceedings. The authorities were also restrained from taking action contrary to the resolution plan.
Delhi High Court Restores Super Bazar Writ Petition Withdrawn On Former Liquidator's Instructions
Case Title : The Cooperative Store Limited v. Super Bazar Karamchari Dalit Sangh
Case Number : WP(C) No. 9114 of 2007
CITATION : 2026 LLBiz HC(DEL) 973
On 15 September, the Delhi High Court recalled the 18 May 2018 order dismissing The Cooperative Store Limited (Super Bazar)'s writ petition as withdrawn, after finding that its former Official Liquidator, Dr. A.K. Mishra, lacked authority to instruct the withdrawal after his tenure ended.
Case Title : Keshav Prasad Jayaswal v. The State of Madhya Pradesh and Ors
Case Number : Writ Petition No. 4668 of 2011
CITATION : 2026 LLBiz HC(MP) 65
he Madhya Pradesh High Court has held that a rehabilitation policy or agreement with a project-affected person cannot preserve a claim merely because it is welfare-oriented, as the Insolvency and Bankruptcy Code overrides inconsistent laws and policies. Justice Sanjeev S. Kalgaonkar observed, “Thus, Rehabilitation policy or any agreement with project affected (displaced) person cannot facilitate claim as an exception for the reason that it is welfare oriented. Section 238 of IBC gives Insolvency and Bankrupcy Code overriding effect over all inconsistent laws and policies.”
Tax Authorities Cannot Recover Pre-CIRP Dues Extinguished Under Resolution Plan: Bombay High Court
Case Title : Aarem Insights Pvt. Ltd. (Formerly known as Shop CJ Network Pvt. Ltd.) v. Joint Commissioner of State Tax (Appeals)-VII & Ors.
Case Number : Writ Petition (L) No. 36803 of 2025
CITATION : 2026 LLBiz HC(BOM)527
The Bombay High Court on 7 September held that tax authorities cannot continue recovery proceedings for pre-CIRP dues extinguished under an NCLT-approved Resolution Plan. A Division Bench of Justices M.S. Karnik and Sandesh D. Patil allowed a writ petition filed by Aarem Insights Pvt. Ltd., formerly known as Shop CJ Network Pvt. Ltd., and directed the State tax authorities to refund the statutory pre-deposit of Rs. 31,99,174 made by the company for pursuing its MVAT appeal, along with applicable interest.
Case Title : P.D Vincent v. State of Kerala and Ors
Case Number : WP(Crl) No. 1434 of 2026
CITATION : 2026 LLBiz HC(KER) 185
The Kerala High Court on Tuesday directed authorities to keep coercive proceedings against the Resolution Professional of Kerala Housing Finance Limited (KHFL) in abeyance in cases concerning the company. It, however, clarified that proceedings against the other accused can continue. Justice G. Girish passed the interim order on a petition filed by P.D. Vincent, the Resolution Professional of KHFL, which was admitted into the Corporate Insolvency Resolution Process (CIRP) by the NCLT Kochi in September 2019.
NCLAT
Jet Airways Workmen's PF, Gratuity Dues Must Be Paid, Fall Outside Liquidation Estate: NCLAT
Case Title : State Bank of India and Ors Vs Manoj Kumar Das & Ors
Case Number : Company Appeal (AT) (Insolvency) 419/2026 & 420/2026, 551/2026, 440/2026
CITATION : 2026 LLBiz NCLAT 260
The National Company Law Appellate Tribunal (NCLAT) at Delhi has held that provident fund, gratuity and pension dues owed to Jet Airways workmen must be paid as they fall outside the liquidation estate, even if no segregated funds existed on the liquidation commencement date.
IBC Not 'Holy Ganges' To Wash Corporate Debtor's Criminality Under PMLA: NCLAT
Case Title : Value Wise Consultancy Private Limited Vs The Deputy Director ED & Ors
Case Number : Company Appeal (AT) (Insolvency) 1226/2022 & 1227/2022
CITATION : 2026 LLBiz NCLAT 261
The National Company Law Appellate Tribunal (NCLAT) at Delhi on Tuesday held that the moratorium under the Insolvency and Bankruptcy Code (IBC) does not prevent the Enforcement Directorate (ED) from attaching assets alleged to be proceeds of crime under the Prevention of Money Laundering Act (PMLA).
Case Title : Assets Care & Reconstruction Enterprise Limited Vs Viswanadha Sarma & Ors
Case Number : Company Appeal (AT) (Insolvency) 949/2023, 1117/2023 & 1231/2023 CITATION : 2026 LLBiz NCLAT 262
Case Title : VINOD ANAND Vs GOLDEN ROLLS PRIVATE LIMITED
Case Number : Company Appeal (AT) (Insolvency) 1048/2026
CITATION : 2026 LLBiz NCLAT 264
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently held that a party cannot be prevented from filing an additional affidavit in proceedings that are yet to be decided on merits. It observed that such a restriction would create an "artificial procedural obstacle" and handicap a litigant in presenting its case.
NCLAT Upholds Insolvency Against Butter, Ghee Maker Jhandewalas Foods
Case Title : MR. RAAKESH B KULWAL, Vs PARAM DAIRY LIMITED
Case Number : Company Appeal (AT) (Insolvency) 1013/2025
CITATION : 2026 LLBiz NCLAT 265
The National Company Law Appellate Tribunal (NCLAT) has recently upheld the initiation of corporate insolvency proceedings against butter and ghee manufacturer and trader Jhandewalas Foods Limited. It held that the company's defence of a pre-existing dispute over unpaid dues was not supported by credible evidence and could not prevent the insolvency process. A bench of Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra observed, “In our considered view, we have no good grounds to disagree with the Adjudicating Authority that the alleged disputes claimed by the Corporate Debtor are feeble disputes not supported by credible evidence. In sum, no real pre-existing dispute is discernible.”
NCLAT Quashes Insolvency Admission Against Vikram Solar As Debt Falls Below ₹1 Crore
Case Title : Sameer Nagpal Suspended Director of Vikram Solar Ltd. Vs ISITVA Steel Pvt. Ltd. & Anr
Case Number : Company Appeal (AT) (Insolvency) 1087/2026
CITATION : 2026 LLBiz NCLAT 266
On Monday, the National Company Law Appellate Tribunal (NCLAT) set aside the admission of a Section 9 insolvency petition against Vikram Solar after both sides admitted that the debt was below the ₹1 crore threshold prescribed under the Insolvency and Bankruptcy Code (IBC).
Foreign Companies Need RBI Approval To Acquire Security Interest In Indian Immovable Property: NCLAT
Case Title : Tropical Ventures Company Ltd. Vs INCAB Industries Ltd
Case Number : Company Appeal (AT) (Insolvency) 662/2025, 16/2026 & 192/2026
CITATION : 2026 LLBiz NCLAT 268
The National Company Law Appellate Tribunal (NCLAT) at Delhi has held that a foreign company cannot acquire or be assigned a security interest over immovable property in India without the Reserve Bank of India's permission.
NCLT Cannot Sit In Appeal Over Civil Court Consent Decree In Insolvency Proceedings: NCLAT
Case Title : AKJ METALS PRIVATE LIMITED Vs BRIJESH SINGH BHADAURIYA & Ors
Case Number : Company Appeal (AT) (Insolvency) 1606/2025 & 1607/2025
CITATION : 2026 LLBiz NCLAT 269
The National Company Law Appellate Tribunal (NCLAT) at Delhi has held that the National Company Law Tribunal (NCLT) cannot disregard or invalidate a consent decree passed by a competent civil court during insolvency proceedings.
Resolution Professional's Report Is Recommendatory In Personal Guarantor Insolvency Cases: NCLAT
Case Title : DR. BADRI PRASAD Vs TATA CAPITAL FINANCIAL SERVICES LIMITED & RAJESH RAMANI "
Case Number : Company Appeal (AT) (Insolvency) 401/2024
CITATION : 2026 LLBiz NCLAT 270
The National Company Law Appellate Tribunal (NCLAT) in Chennai has held that a Resolution Professional's report in personal insolvency cases is only recommendatory and does not bind the adjudicating authority. It ruled that where debt, default, and the status of the personal guarantor are already established, the absence of such a report does not invalidate the proceedings.
Case Title : PROGFIN PRIVATE LIMITED Vs GANESH BENZOPLAST LIMITED
Case Number : Company Appeal (AT) (Insolvency) 1565/2025
CITATION : 2026 LLBiz NCLAT 271
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 30 June held that the mere disbursal of loan funds into a fraudulent bank account does not, by itself, create a binding financial debt under the Insolvency and Bankruptcy Code, 2016.
Interim Stay Of CIRP Admission Does Not Extinguish Moratorium Unless Specifically Vacated: NCLAT
Case Title : ABHISHEK SINGH Vs RAJARAM FOODS PRODUCTS INDIA LTD & MANPASAND BEVERAGES LTD
Case Number : Company Appeal (AT) (Insolvency) 1883/2025 & 105/2026
CITATION : 2026 LLBiz NCLAT 273
The National Company Law Appellate Tribunal (NCLAT) in Delhi has recently held that an interim stay of an order admitting a company into the Corporate Insolvency Resolution Process (CIRP) does not extinguish the accompanying moratorium.
Property Over Which Corporate Debtor Has No Subsisting Right Cannot Form Part Of Its CIRP: NCLAT
Case Title : Calcutta Pinjrapole Society Vs Pratap Mukherjee & Ors
Case Number : Company Appeal (AT) (Insolvency) 474/2026
CITATION : 2026 LLBiz NCLAT 272
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently held that a corporate debtor cannot include in its Corporate Insolvency Resolution Process (CIRP) an immovable property over which it has no subsisting legal right
Case Title : GAURAV BHALLA Vs BEACON TRUSTEESHIP LIMITED
Case Number : Company Appeal (AT) (Insolvency) 694/2026
CITATION : 2026 LLBiz NCLAT 274
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 30 June held that a debenture trustee, acting under a debenture trust deed and personal guarantee, can initiate insolvency proceedings against a personal guarantor under Section 95 of the Insolvency and Bankruptcy Code, 2016, and that clerical defects in guarantee documents do not defeat such proceedings where liability is otherwise established.
Case Title : Uniworth Enterprises LLP v. Starco Metaplast Private Limited
Case Number : Company Appeal (AT) (Insolvency) No. 1056 of 2025
CITATION : 2026 LLBiz NCLAT 275
The National Company Law Appellate Tribunal (NCLAT) at Delhi has set aside an order rejecting an insolvency application after finding that the corporate debtor had admitted outstanding dues in its reply to the statutory demand notice.
Commercial Wisdom Of Creditors No Bar To Judicial Scrutiny Of IRP Remuneration: NCLAT
Case Title : Mohd Nazim Khan Vs HDFC Bank Limited & Ors
Case Number : Company Appeal (AT) (Insolvency) 430/2025
CITATION : 2026 LLBiz NCLAT 275
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently held that disputes over an interim resolution professional's remuneration are not immune from judicial scrutiny merely because they arise from a decision of the Committee of Creditors (CoC).
Set-Off Under IBBI Liquidation Rules Applies Only Between Same Parties, Not Group Companies: NCLAT
Case Title : Assam Power Distribution Company Ltd. v. Mrs. Meena Sureka
Case Number : Company Appeal (AT) (Insolvency) No. 1205 of 2025
CITATION : 2026 LLBiz NCLAT 277
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has held that the benefit of set-off under the IBBI (Liquidation Process) Regulations, 2016 is available only where the mutual dealings are between the same parties and cannot be invoked to adjust dues owed by other group companies.
Case Title : Tech Lads India Pvt. Ltd. v. Satnam Global Infraprojects Ltd.
Case Number : Company Appeal (AT) (Insolvency) No. 1751 of 2025
CITATION : 2026 LLBiz NCLAT 278
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has held that Tech Lads India Pvt. Ltd.'s claim arising from an advance payment of ₹8 crore made to its consortium partner, Satnam Global Infraprojects Ltd., towards the supply of goods constituted an operational debt under the Insolvency and Bankruptcy Code, 2016.
OTS Breach Revives Original Loan Liability; Creditor Can Recover Full Dues: NCLAT New Delhi
Case Title : Gaurav Jaiswal Vs Indian Renewable Energy Development Agency Limited & Alok Kumar Agarwal
Case Number : Company Appeal (AT) (Insolvency) 594/2025
CITATION : 2026 LLBiz NCLAT 279
Creditors Cannot Question RP's Information Requests During Claim Verification: NCLAT New Delhi
Case Title : New Okhla Industrial Development Authority Vs Manohar Lal Vij & Gedpec Infratech Limited
Case Number : Company Appeal (AT) (Insolvency) 691/2024
CITATION : 2026 LLBiz NCLAT 280
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 30 June held that a creditor cannot question the information or clarifications sought by a Resolution Professional (RP) during verification of claims in the Corporate Insolvency Resolution Process (CIRP), as the RP is statutorily empowered to seek evidence necessary for substantiation of claims.
Continuation Of CIRP By Sole Creditor Despite Full Repayment Is Malicious Use Of IBC: NCLAT Delhi
Case Title : ACHAL KUMAR JINDAL Vs SANJAY KUMAR BHUWALKA & MAHESH AGARWAL
Case Number : Company Appeal (AT) (Insolvency) 2341/2024
CITATION : 2026 LLBiz NCLAT 281
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 30 June held that continuation of insolvency proceedings by a sole creditor despite full repayment of the debt amounted to malicious use of the Insolvency and Bankruptcy Code (IBC), which is intended for revival of corporate debtors and not for pursuing coercive or vindictive action
IBC S.121(2) Timeline For Personal Guarantor Bankruptcy Applications Directory, Not Mandatory: NCLAT
Case Title : Cosmos CO-Operative Bank Limited Vs Anil Kumar Gilra
Case Number : Company Appeal (AT) (Insolvency) 1095/2025
CITATION : 2026 LLBiz NCLAT 283
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 30 June held that the three month period prescribed under Section 121(2) of the Insolvency and Bankruptcy Code, 2016 (IBC) for filing a bankruptcy application against a personal guarantor is directory and not mandatory. Judicial Member Justice N Seshasayee and Technical Member Arun Baroka set aside the order of the Cuttack Bench of the National Company Law Tribunal (NCLT), which had dismissed Cosmos Co Operative Bank Limited's bankruptcy petition against personal guarantor Anil Kumar Gilra on the ground of delay.
Order Passed On Mistaken Facts Cannot Be Basis For Contempt: NCLAT
Case Title : ASHOK DATTATRAY ATRE & Ors Vs VIJENDRA KUMAR JAIN
Case Number : Contempt Case (AT) No.16 of 2026
CITATION : 2026 LLBiz NCLAT 284
The National Company Law Appellate Tribunal (NCLAT) has dismissed a contempt petition against a liquidator after holding that an order passed under a mistaken impression of facts cannot be enforced through contempt proceedings.
'Endless Indulgence' Under Guise Of Resolution Defeats IBC's Purpose: NCLAT
Case Title : Taguda Pte. Limited Vs SBI & Trupal Kumar Patel
Case Number : Company Appeal (AT) (Insolvency) 1710/2025
CITATION : 2026 LLBiz NCLAT 282
The National Company Law Appellate Tribunal (NCLAT) at Delhi has observed that the Insolvency and Bankruptcy Code (IBC) is intended to maximise value through a time-bound resolution process and cannot permit indefinite delays in implementing an approved resolution plan.
Case Title : Mega Mall Management Services Pvt. Ltd. v. Ajay Kumar Agarwal
Case Number : Company Appeal (AT) (Ins.) No. 1236 of 2025
CITATION : 2026 LLBiz NCLAT 285
The National Company Law Appellate Tribunal (NCLAT) has held that a related party cannot rely on its separate legal personality to refuse disclosure of financial information sought by a Resolution Professional where the information has a direct nexus with the corporate debtor's transactions and arrangements.
Expeditious Resolution Under IBC Cannot Override Natural Justice: NCLAT
Case Title : Hannu Steels Pvt. Ltd. v. Rathi Powertech Global Pvt. Ltd.
Case Number : Company Appeal (AT) (Ins.) No. 124 of 2026
CITATION : 2026 LLBiz NCLAT 286
The National Company Law Appellate Tribunal (NCLAT) in Delhi has held that the objective of speedy insolvency resolution under the Insolvency and Bankruptcy Code cannot come at the cost of fairness, setting aside an order that had closed a corporate debtor's right to file its reply in a pending insolvency case.
Case Title : Nakul Gupta Vs State Bank of India & Rajesh Mittal
Case Number : Company Appeal (AT) (Insolvency) 494/2024
CITATION : 2026 LLBiz NCLAT 287
The National Company Law Appellate Tribunal (NCLAT) in Delhi has upheld the initiation of personal insolvency proceedings against a former director of Technofab Engineering Limited, holding that under the terms of the deed of guarantee executed in the case, his resignation from the company did not discharge him from liability.
NCLAT New Delhi Expunges Remarks Against Mahavir Medicare RP, Clarifies RP's Independent IBC Duty
Case Title : Pragiti Construction Through Proprietor Renu Verma v. Committee of Creditors Represented by Mahavir Medicare & Anr.
Case Number : (I.A. Nos. 2480 & 2481 of 2026 in Company Appeal (AT) (Ins.) Nos. 2330 & 2331 of 2024)
CITATION : 2026 LLBiz NCLAT 288
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 6 July, held that a Resolution Professional (RP) must independently ensure that the Corporate Insolvency Resolution Process (CIRP) complies with the Insolvency and Bankruptcy Code, 2016 (IBC), and cannot merely implement the decisions of the Committee of Creditors (CoC)
Appeal Against Deferred Intervention Application In Insolvency Case Not Maintainable: NCLAT Chennai
Case Title : AYRA Consortium v. TruPro Insolvency Services LLP, Resolution Professional of Amar Prakaash Developers Pvt. Ltd.
Case Number : Company Appeal (AT) (CH) (INS) No. 200 of 2026
CITATION : 2026 LLBiz NCLAT 289
The Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) on 15 June held that an appeal under Section 61(1) of the Insolvency and Bankruptcy Code, 2016 cannot be filed against an order that only defers an intervention application for consideration along with a revised resolution plan after reconsideration by the Committee of Creditors (CoC).
Delayed Homebuyer Claim Cannot Be Rejected When RP Failed To Verify Records: NCLAT New Delhi
Case Title : Rajkumar Jhawar & Ors Vs Arun Kapoor & Ors
Case Number : Company Appeal (AT) (Insolvency) 13/2025
CITATION : 2026 LLBiz NCLAT 290
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 30 June held that a genuine homebuyer cannot be denied the benefit of an approved resolution plan merely because the homebuyer filed the claim belatedly, when the delay occurred due to the Resolution Professional's (RP) failure to identify and notify the homebuyer despite the corporate debtor's records reflecting the allotment.
Equity Investment Without Repayment Obligation Does Not Qualify As Financial Debt: NCLAT New Delhi
Case Title : Metamorphosis Trading LLP Vs Kumar Motors Private Limited
Case Number : Company Appeal (AT) (Insolvency) 1083/2024
CITATION : 2026 LLBiz NCLAT 291
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 1 July held that an amount advanced under a Subscription and Shareholders Agreement (SSA) towards purchase of equity shares and convertible warrants does not qualify as “financial debt” under the Insolvency and Bankruptcy Code, 2016 (IBC), unless the agreement creates a repayment obligation. Judicial Member Justice Mohd Faiz Alam Khan and Technical Member Ajai Das Mehrotra dismissed Metamorphosis Trading LLP's appeal against Kumar Motors Pvt. Ltd. and upheld an order of the Mumbai Bench of the National Company Law Tribunal (NCLT).
Acknowledged Interest On ICDs Forms Part Of Financial Debt Under IBC: NCLAT New Delhi
Case Title : WILD DREAMS TRADING COMPANY PVT. LTD. Vs ASCENDANCY FINANCIAL SERVICES PVT. LTD.
Case Number : Company Appeal (AT) (Insolvency) 636/2026
CITATION : 2026 LLBiz NCLAT 293
On 13 July, the New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) held that acknowledged interest on Inter Corporate Deposits (ICDs) forms part of “financial debt” under the Insolvency and Bankruptcy Code, 2016 (IBC). Judicial Member Justice N Seshasayee, along with Technical Members Indevar Pandey and Arun Baroka, allowed an appeal filed by Wild Dreams Trading Company Pvt. Ltd. against the Chandigarh Bench of the National Company Law Tribunal (NCLT), which had rejected its plea to initiate the Corporate Insolvency Resolution Process (CIRP) against Ascendancy Financial Services Pvt. Ltd.
NCLAT New Delhi Upholds CIRP Against Simbhaoli Sugar, Holds Farmers' Claims Must Be Considered
Case Title : Surender Pal Singh Mangat. Vs Oriental Bank of Commerce & Ors
Case Number : Company Appeal (AT) (Insolvency) 1404/2024 & 1405/2024
CITATION : 2026 LLBiz NCLAT 294
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 13 July upheld the admission of Corporate Insolvency Resolution Process (CIRP) against Simbhaoli Sugar Limited, holding that the insolvency proceedings were initiated independently of the Reserve Bank of India (RBI) circular later struck down by the Supreme Court.
Officiating Chairperson Justice Yogesh Khanna and Technical Member Ajai Das Mehrotra dismissed appeals filed against the order of the Allahabad Bench of the National Company Law Tribunal (NCLT), which had admitted the CIRP application against the sugar company.
IBC Cannot Be Used to Validate Illegal Constructions Or Defeat Town Planning Laws: NCLAT
Case Title : Uttar Pradesh Housing and Development Board Vs K.S.N. Buildwell Pvt. Ltd. & Anr.
Case Number : Company Appeal (AT) (Insolvency) 1581/2023 & 820/2025
CITATION : 2026 LLBiz NCLAT 295
The National Company Law Appellate Tribunal (NCLAT) in Delhi has held that while a corporate debtor's subsisting contractual and development rights under a hire-purchase agreement may constitute assets under the Insolvency and Bankruptcy Code (IBC), the insolvency process cannot be used to legitimise unauthorised construction or defeat statutory town planning laws.
Case Title : Maharashtra Airport Development Company Ltd. Vs Vinod Kumar Kothari & Anr.
Case Number : Company Appeal (AT) (Insolvency) 1355/2023 & 939/2024
CITATION : 2026 LLBiz NCLAT 296
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 14 June held that a liquidator can sell the shell legal entity of a corporate debtor through public auction during liquidation after consulting creditors, where all assets of the corporate debtor have already been realised and dissolution is the only remaining option. Judicial Member Justice Mohd Faiz Alam Khan and Technical Member Naresh Salecha upheld the sale of Abhijeet MADC Nagpur Energy Pvt. Ltd.'s legal entity, holding that Maharashtra Airport Development Company (MADC) could not challenge the sale when dissolution was the only alternative after the sale of all assets.
Case Title : Jiostar India Pvt. Ltd. Vs Absolute Legends Sports Pvt. Ltd
Case Number : Company Appeal (AT) (Insolvency) 1199/2026
The National Company Law Appellate Tribunal (NCLAT) on Monday issued notice in an appeal filed by Jiostar India Pvt. Ltd. against an order rejecting its insolvency plea against Absolute Legends Sports Pvt. Ltd., the promoter of the Legends League Cricket Masters T20 tournament. The appellate tribunal observed that the National Company Law Tribunal (NCLT) had failed to consider Jiostar's contention that the Media Rights Agreement had been duly signed on its behalf by Ankush Mahajan.
Case Title : UCO Bank Vs Subrata Das & Rahul Gupta
Case Number : Company Appeal (AT) (Insolvency) 451/2025 & 452/2025
CITATION : 2026 LLBiz NCLAT 297
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 14 July held that financial creditors can directly initiate insolvency proceedings against personal guarantors without any pending Corporate Insolvency Resolution Process (CIRP) or liquidation proceedings against the corporate debtor. Judicial Member Justice Mohd Faiz Alam Khan and Technical Member Naresh Salecha allowed appeals filed by UCO Bank against orders of the Kolkata Bench of the National Company Law Tribunal (NCLT), which had rejected insolvency applications filed against personal guarantors Subrata Das and Rahul Gupta of Haridra Vintrade Private Limited.
NCLAT Sets Aside NCLT Order Applying Corporate Insolvency Threshold To Personal Insolvency Plea
Case Title : Mukesh Kumar Vs Baba Shri Chand Alloys & Ors
Case Number : Company Appeal (AT) (Insolvency) 1045/2026
CITATION : 2026 LLBiz NCLAT 298
The National Company Law Appellate Tribunal (NCLAT) in Delhi has set aside an order of the National Company Law Tribunal (NCLT) that dismissed a personal insolvency application after applying the minimum default threshold applicable to corporate insolvency proceedings. The appellate tribunal has remanded the matter to the NCLT Chandigarh for fresh consideration. A bench of Judicial Member Justice N. Seshasayee and Technical Member Barun Mitra held that the application must be reconsidered in light of the threshold prescribed for insolvency proceedings involving individuals and partnership firms.
Case Title : Association of Independent House Owners of Jaypee Greens Vs Bhuvan Madan
Case Number : Company Appeal (AT) (Insolvency) 877/2026 & 878/2026
CITATION : 2026 LLBiz NCLAT 299
The National Company Law Appellate Tribunal (NCLAT) in Delhi has dismissed appeals filed by the Association of Independent House Owners of Jaypee Greens, refusing to interfere with an order declining to direct the inclusion of a mandatory condition in Jaiprakash Associates Ltd's resolution plan for the construction of a social club. The appellate tribunal noted that the resolution plan had already been approved. It also took note of the Successful Resolution Applicant's (SRA) undertaking to engage with the association on the issue.
CoC-Approved Valuation Cannot Be Reopened At Instance Of Suspended Director: NCLAT New Delhi
Case Title : Santosh R. Shetty Vs Rajan Deshraj Agarwal & Ors
Case Number : Company Appeal (AT) (Insolvency) 1378/2024
CITATION : 2026 LLBiz NCLAT 300
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 14 July held that a suspended director cannot seek fresh valuation of a corporate debtor's assets after the Committee of Creditors (CoC) has approved the valuation reports and the resolution plan. Valuation decisions fall within the CoC's commercial wisdom. Judicial Member Justice Mohd Faiz Alam Khan and Technical Member Naresh Salecha dismissed appeals filed by Santosh R. Shetty, suspended director and promoter of Sristi Hospitality Pvt. Ltd., challenging orders passed by the Mumbai Bench of the National Company Law Tribunal (NCLT). The NCLAT upheld the rejection of his revaluation plea and the approval of the resolution plan
Pending Compromise Scheme No Bar To Insolvency Proceedings: NCLAT
Case Title : Kavish Gupta Vs Yes Bank Ltd & Ors
Case Number : Company Appeal (AT) (Insolvency) 1015/2025, 812, 813, 815, and 816 of 2025
CITATION : 2026 LLBiz NCLAT 301
The National Company Law Appellate Tribunal (NCLAT) in Delhi has held that a proposed scheme of compromise under the Companies Act and ongoing one-time settlement (OTS) negotiations cannot prevent the admission of insolvency proceedings once financial debt and default are established. A bench of Judicial Member Justice N. Seshasayee and Technical Members Arun Baroka and Indevar Pandey held that the National Company Law Tribunal (NCLT) was justified in admitting insolvency proceedings against KKSPUN India Limited over Yes Bank's claim of about ₹32.57 crore.
Gratuity Payable To Retiring Employee Cannot Be Equated With Salary, Not Part Of CIRP Costs: NCLAT
Case Title : Subir Mukherjee Vs Ram Ratan Modi
Case Number : Company Appeal (AT) (Insolvency) 72/2025
CITATION : 2026 LLBiz NCLAT 302
The National Company Law Appellate Tribunal (NCLAT) in Delhi has held that gratuity payable to an employee who retires during the corporate insolvency resolution process cannot be treated as part of the insolvency resolution process costs. It held that gratuity is a terminal benefit and not an expense incurred by the Resolution Professional (RP) in running the insolvency process.
A bench of Judicial Member Justice N. Seshasayee and Technical Members Arun Baroka and Indevar Pandey upheld an order of the National Company Law Tribunal (NCLT), Kolkata. The tribunal had rejected a former director and employee's plea to classify his gratuity and leave encashment dues as CIRP costs.
Case Title : Arvinder Kaur Vs Santanu Kumar Samanta & Bank of Maharashtra
Case Number : Company Appeal (AT) (Insolvency) 264/2025
CITATION : 2026 LLBiz NCLAT 303
The National Company Law Appellate Tribunal (NCLAT) in Delhi has held that the dismissal of a debt recovery case for default does not wipe out the underlying debt or prevent insolvency proceedings against a personal guarantor. It dismissed an appeal filed by a personal guarantor challenging the National Company Law Tribunal's (NCLT) order admitting the Bank of Maharashtra's application.
Case Title : Shree Dhanvantari Pharmaceuticals Vs Konkan Ayur Pharma Private Limited
Case Number : Company Appeal (AT) (Insolvency) 988/2024
CITATION : 2026 LLBiz NCLAT 304
The National Company Law Appellate Tribunal (NCLAT) has recently clarified that where a majority of partners has decided to initiate insolvency proceedings, the petition need not be signed by all of them, as one partner may act on behalf of the firm under the Partnership Act. The tribunal, however, dismissed the appeal before it after holding that the insolvency application was barred by limitation.
Case Title : Sachin Naveen Sinha Vs The Insolvency and Bankruptcy Board of India
Case Number : I.A. No.4537 of 2026 in Company Appeal (AT) (Ins) No. 1165 of 2026
CITATION : 2026 LLBiz NCLAT 306
The National Company Law Appellate Tribunal (NCLAT) in Delhi has recently stayed the operation of the Insolvency and Bankruptcy Board of India's (IBBI) order suspending an insolvency professional from continuing in his other ongoing assignments, while leaving the suspension undisturbed in the corporate insolvency resolution process (CIRP) from which he had been removed. The interim relief allows him to continue in his other assignments pending adjudication of his appeal.
Easement Right Disputes Affecting Liquidation Fall Within NCLT's Jurisdiction: NCLAT New Delhi
Case Title : ARC Research and Development Centre Limited & Ors Vs Liquidator of Adya Oils and Chemicals Ltd & Ors
Case Number : Company Appeal (AT) (Insolvency) 292/2025
CITATION : 2026 LLBiz NCLAT 308
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 29 July held that the National Company Law Tribunal (NCLT) can decide disputes over an easementary right of way under the Insolvency and Bankruptcy Code, 2016 (IBC) where the dispute has a direct connection with the corporate insolvency resolution process or liquidation and affects value maximisation of the corporate debtor's assets.
Operational Creditor Cannot Use Conflicting Debt Documents To Extend Limitation: NCLAT New Delhi
Case Title : Sturdy Industries Limited Vs Surya Irrigation Private Limited
Case Number : Company Appeal (AT) (Insolvency) 607/2025
CITATION : 2026 LLBiz NCLAT 309
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 29 July held that an operational creditor cannot invoke insolvency proceedings by relying on inconsistent documents regarding the debt claimed and simultaneously seek to treat those documents as an acknowledgement of liability to extend the limitation period under Section 18 of the Limitation Act, 1963. A Bench comprising Judicial Member Justice N Seshasayee and Technical Member Arun Baroka dismissed the appeal filed by Sturdy Industries Limited against the order of the Jaipur Bench of the National Company Law Tribunal (NCLT), which had rejected its insolvency petition as time-barred and affected by pre-existing disputes.
NCLAT Dismisses DoT Appeal Against Rolta India Resolution Plan, Cites Its Implementation
Case Title : UNION OF INDIA Vs ROLTA INDIA LIMITED & Ors
Case Number : Company Appeal (AT) (Insolvency) 399/2026
CITATION : 2026 LLBiz NCLAT 310
The National Company Law Appellate Tribunal (NCLAT) on Thursday dismissed the Department of Telecommunications' (DoT) appeal challenging the National Company Law Tribunal's (NCLT) approval of the ₹900 crore resolution plan for Rolta India Limited. It held that once a resolution plan has been approved and fully implemented, statutory creditors cannot seek to reopen claims they failed to pursue in time.
Easement Right Disputes Affecting Liquidation Fall Within NCLT's Jurisdiction: NCLAT New Delhi
Case Title : ARC Research and Development Centre Limited & Ors Vs Liquidator of Adya Oils and Chemicals Ltd & Ors
Case Number : Company Appeal (AT) (Insolvency) 292/2025
CITATION : 2026 LLBiz NCLAT 308
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 29 July held that the National Company Law Tribunal (NCLT) can decide disputes over an easementary right of way under the Insolvency and Bankruptcy Code, 2016 (IBC) where the dispute has a direct connection with the corporate insolvency resolution process or liquidation and affects value maximisation of the corporate debtor's assets.
Operational Creditor Cannot Use Conflicting Debt Documents To Extend Limitation: NCLAT New Delhi
Case Title : Sturdy Industries Limited Vs Surya Irrigation Private Limited
Case Number : Company Appeal (AT) (Insolvency) 607/2025
CITATION : 2026 LLBiz NCLAT 309
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 29 July held that an operational creditor cannot invoke insolvency proceedings by relying on inconsistent documents regarding the debt claimed and simultaneously seek to treat those documents as an acknowledgement of liability to extend the limitation period under Section 18 of the Limitation Act, 1963. A Bench comprising Judicial Member Justice N Seshasayee and Technical Member Arun Baroka dismissed the appeal filed by Sturdy Industries Limited against the order of the Jaipur Bench of the National Company Law Tribunal (NCLT), which had rejected its insolvency petition as time-barred and affected by pre-existing disputes.
NCLAT Dismisses DoT Appeal Against Rolta India Resolution Plan, Cites Its Implementation
Case Title : UNION OF INDIA Vs ROLTA INDIA LIMITED & Ors
Case Number : Company Appeal (AT) (Insolvency) 399/2026
CITATION : 2026 LLBiz NCLAT 310
The National Company Law Appellate Tribunal (NCLAT) on Thursday dismissed the Department of Telecommunications' (DoT) appeal challenging the National Company Law Tribunal's (NCLT) approval of the ₹900 crore resolution plan for Rolta India Limited. It held that once a resolution plan has been approved and fully implemented, statutory creditors cannot seek to reopen claims they failed to pursue in time.
NCLAT Stays NCLT Order Upholding Rejection Of ARCIL's ₹3,482 Crore Claim Against JCT
Case Title : Asset Reconstruction Company (India) Ltd. Vs Umesh Garg
Case Number : Company Appeal (AT) (Insolvency) 1246/2026
CITATION : 2026 LLBiz NCLAT 311
The National Company Law Appellate Tribunal (NCLAT) has recently kept in abeyance a National Company Law Tribunal (NCLT) order that upheld the Resolution Professional's rejection of Asset Reconstruction Company (India) Ltd.'s (ARCIL) financial claim against textile manufacturer JCT Ltd. The appellate tribunal observed that the issue of limitation must be decided before the committee of creditors (CoC) votes on a resolution plan.
NCLAT Sets Aside Liquidator Appointment After NCLT Overlooked CoC's Recommendation
Case Title : Rajesh Mehru Vs Punjab National Bank & Rajeesh Gupta
Case Number : Company Appeal (AT) (Insolvency) 530/2026
CITATION : 2026 LLBiz NCLAT 312
The National Company Law Appellate Tribunal (NCLAT) at Delhi has ruled that an adjudicating authority cannot appoint a liquidator without considering the Committee of Creditors' (CoC) unanimous recommendation. It set aside an NCLT order that independently appointed an insolvency professional from an IBBI panel instead of considering the CoC's choice. A bench of Judicial Member Justice Sharad Kumar Sharma and Technical Members Arun Baroka and Indevar Pandey observed that Section 34(1) of the Insolvency and Bankruptcy Code makes the resolution professional's continuation as liquidator the default position.
NCLAT New Delhi Sets Aside Monte Carlo Insolvency Order After Settlement & Prior Dispute Admission
Case Title : Mrunal Kanubhai Patel Vs Vanshita Transport
Case Number : Company Appeal (AT) (Insolvency) 1214/2026
CITATION : 2026 LLBiz NCLAT 313
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 3 August held that an insolvency process cannot continue once the operational creditor's claim has been fully settled and the creditor has no objection to setting aside the admission order. A Bench comprising Judicial Member Justice Mohd Faiz Alam Khan with Technical Members Indevar Pandey and Arun Baroke set aside the order passed by the Ahmedabad Bench of the National Company Law Tribunal (NCLT) admitting the Section 9 petition (provision allowing an operational creditor to initiate insolvency proceedings for unpaid operational debt) filed by Vanshita Transport against Monte Carlo Limited.
NCLAT Upholds Order Directing Suspended Log 9 Directors To Help Gensol RP Recover Leased EVs
Case Title : AKSHAY SINGHAL & Ors Vs KESHAV KHANEJA & Ors
Case Number : Company Appeal (AT) (Insolvency) 1364/2026
CITATION : 2026 LLBiz NCLAT 315
The National Company Law Appellate Tribunal (NCLAT) has upheld directions requiring the suspended directors of electric mobility company Log 9 Mobility Pvt. Ltd. to assist the resolution professional (RP) of EV leasing company Gensol EV Lease Ltd. in identifying and recovering leased electric vehicles. It ruled that the National Company Law Tribunal (NCLT) has wide powers under Section 60(5) of the Insolvency and Bankruptcy Code (IBC) to issue such directions during insolvency proceedings.
NCLAT Reserves Orders On Ex-Employee's Challenge To Jet Airways Aircraft Sale
Case Title : Aman Monga & Anr. Vs The Liquidator of Jet Airways (India) Ltd. & Ors.
Case Number : Company Appeal (AT) (Insolvency) 1257/2026
CITATION : 2026 LLBiz NCLAT 316
The National Company Law Appellate Tribunal (NCLAT) on Thursday reserved orders on an appeal filed by former Jet Airways employee Aman Monga challenging the dismissal of his application seeking to set aside the sale of certain Boeing 777-300ER aircraft assets during the airline's liquidation proceedings. The bench of Judicial Member Justice Mohammad Faiz Alam Khan and Technical Member Arun Baroka also granted the parties three days to file written submissions not exceeding two pages.
Case Title : Nitu Mittal Vs Rajesh Bansal & Anr
Case Number : Company Appeal (AT) (Insolvency) 297/2026
CITATION : 2026 LLBiz NCLAT 316
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has observed that an advocate's duty extends beyond diligently conducting a case. It includes maintaining regular communication with the client and informing them about the status of proceedings. A bench of Judicial Member Justice Mohammad Faiz Alam Khan and Technical Member Naresh Salecha made the observation while setting aside an NCLT order that had dismissed an application seeking recall of an order setting proceedings ex-parte.
NCLAT Dismisses Tropical Ventures' Plea To Halt Distribution Of INCAB Resolution Plan Funds
Case Title : Tropical Ventures Company Ltd Vs INCAB Industries Ltd
Case Number : I.A. No. 5101 of 2026 in Company Appeal (AT) (Insolvency) 662/2024
CITATION : 2026 LLBiz NCLAT 317
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently dismissed an application filed by Tropical Ventures Company Ltd. seeking to prevent distribution of funds under Vedanta Ltd.'s resolution plan for INCAB Industries Ltd. Tropical filed the application while its challenge to the NCLAT's June 30, 2026, judgment was pending before the Supreme Court. It wanted the amount under the resolution plan to be kept in an interest-bearing account until its ₹295 crore claim was finally adjudicated.
Time-Barred Insolvency Plea Can Be Rejected Without RP Appointment: NCLAT New Delhi
Case Title : Prabhaben Ravjibhai Harkani Vs Bank of Baroda & Axis Bank
Case Number : Company Appeal (AT) (Insolvency) 1002/2025
CITATION : 2026 LLBiz NCLAT 318
On 7 August, the New Delhi National Company Law Appellate Tribunal (NCLAT) held that the National Company Law Tribunal (NCLT) can reject a personal guarantor's insolvency application at the threshold if it is ex facie barred by limitation, without first appointing a Resolution Professional (RP) under Section 97 of the Insolvency and Bankruptcy Code, 2016 (IBC).
A Bench of Judicial Member Justice Mohd Faiz Alam Khan with Technical Members Arun Baroka and Indevar Pandey dismissed the appeal filed by Prabhaben Ravjibhai Harkani, personal guarantor of Shubham Ginning Pressing Pvt. Ltd., challenging the Ahmedabad Bench of the NCLT's order rejecting her Section 94 insolvency petition as time barred.
NCLAT New Delhi Says IRP Cannot Keep Creditors And Homebuyers Satisfied In Real Estate Insolvency
Case Title : Catalyst Trusteeship Limited & DCB Bank Limited Vs Suman Kumar Verma
Case Number : Company Appeal (AT) (Insolvency) 1539/2025
CITATION : 2026 LLBiz NCLAT 319
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 4 August held that an Interim Resolution Professional (IRP) cannot be expected to keep all stakeholders satisfied in a real estate insolvency process, where financial creditors and homebuyers have inherently conflicting interests. A Bench of Judicial Member Justice Mohd Faiz Alam Khan and Technical Member Naresh Salecha dismissed appeals seeking the replacement of the IRP in the insolvency proceedings of Swastik Homebuild Pvt. Ltd., observing that an IRP must remain neutral while balancing the competing interests of financial creditors and homebuyers.
Case Title : Nuzhat Aisha Naseer & Ors Vs Canara Bank & 3 Ors
Case Number : Company Appeal (AT) (Insolvency) 360/2026
CITATION : 2026 LLBiz NCLAT 320
The National Company Law Appellate Tribunal (NCLAT), Chennai, has observed that the law shows greater sympathy towards debt-trapped individuals than debt-trapped companies. It held that this approach gives tribunals greater flexibility to consider relief from bankruptcy. It has given a family of personal guarantors a fresh opportunity to work towards repayment and seek relief from bankruptcy despite their earlier failure to submit a repayment plan.
Case Title : Byju Raveendran Vs GLAS Trust Company LLC & Shailendra Ajmera
Case Number : Company Appeal (AT) (Insolvency) 383/2026
CITATION : 2026 LLBiz NCLAT 321
The National Company Law Appellate Tribunal (NCLAT), Chennai, on Monday dismissed an appeal filed by Byju Raveendran, suspended director and promoter of Think & Learn Pvt. Ltd., challenging Glas Trust's majority voting share in the company's Committee of Creditors (CoC).
NCLAT New Delhi Dismisses Chemstar Director's Appeal Against CIRP Admission Over ₹11.87 Crore Claim
Case Title : Ashutosh Majumdar Vs Omkara Asset Reconstruction Private Limited
Case Number : Company Appeal (AT) (Insolvency) 351/2025
CITATION : 2026 LLBiz NCLAT 322
On 18 August, the New Delhi National Company Law Appellate Tribunal (NCLAT) held that the National Company Law Tribunal (NCLT) need not determine the exact quantum of dues while admitting a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), once debt and default are established and the default exceeds the statutory threshold of Rs. 1 crore
Mere Notice Seeking Reply In SFIO Investigation Application Not Appealable: NCLAT New Delhi
Case Title : CFM Asset Reconstruction Private Limited Vs Canterbury Real Tech Private Limited Case Number : Company Appeal (AT) (Insolvency) 1556/2025
CITATION : 2026 LLBiz NCLAT 323
On 18 August, the New Delhi National Company Law Appellate Tribunal (NCLAT) held that an order merely directing parties to issue notice and file replies does not cause immediate prejudice and cannot form the subject matter of an appeal.
NCLAT Restores Insolvency Petition Dismissed After Counsel Missed Hearing
Case Title : Icatalyst Wealth Advisors Pvt. Ltd. Vs Sir John Bakeries India Pvt. Ltd.
Case Number : Company Appeal (AT) (Insolvency) 2047/2025
CITATION : 2026 LLBiz NCLAT 324
The National Company Law Appellate Tribunal (NCLAT), Delhi, has held that an insolvency petition dismissed for want of prosecution can be sought to be restored through a restoration application accompanied by a plea for condonation of delay. The tribunal ruled that a litigant should not be made to suffer when the non-appearance was due to a bona fide mistake by counsel. The bench comprised Judicial Member Justice Sharad Kumar Sharma and Technical Member Indevar Pandey.
Case Title : Sumit Bansal & Ors Vs Rajeev Lochan
Case Number : Company Appeal (AT) (Insolvency) 858/2025
CITATION : 2026 LLBiz NCLAT 325
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 19 August held that homebuyers who invoke arbitration to seek refund of their investment cannot simultaneously claim the status of financial creditors under the Insolvency and Bankruptcy Code (IBC), holding that their conduct amounts to giving up their status as allottees claiming financial debt.
Case Title : Sun Paper Ltd. Vs S. Dhanapal
Case Number : Company Appeal (AT) (Insolvency) 205/2023
CITATION : 2026 LLBiz NCLAT 327
The National Company Law Appellate Tribunal (NCLAT) at Chennai has ruled that a scheme proponent cannot be compelled to forfeit its Earnest Money Deposit (EMD) guarantee after choosing to withdraw once its scheme was not accepted in the liquidation process.
Case Title : Indian Bank Vs Mrs. Sneha Dharmendra Shah & Anr.
Case Number : Company Appeal (AT) (Insolvency) 1454/2026 & 1457/2026
CITATION : 2026 LLBiz NCLAT 328
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 19 August held that where a repayment plan submitted by personal guarantors has been approved in principle by the sole financial creditor, reasonable time must be granted to complete the Personal Insolvency Resolution Process (PIRP), as denying such time would defeat the purpose of the process.
NCLAT New Delhi Upholds Jet Airways Aircraft Sale, Dismisses Ex-Employees' Challenge
Case Title : Aman Monga & Anr. Vs The Liquidator of Jet Airways (India) Ltd. & Ors.
Case Number : Company Appeal (AT) (Insolvency) 1257/2026
CITATION : 2026 LLBiz NCLAT 329
On 21 August, the New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) dismissed an appeal filed by former employees of Jet Airways (India) Limited challenging the sale of the airline's aircraft assets during liquidation. Judicial Member Justice Mohd Faiz Alam Khan and Technical Member Arun Baroka held that the former employees, whose dues would be paid under the waterfall mechanism under Section 53 of the Insolvency and Bankruptcy Code (IBC), had no basis to challenge the liquidator's completed sale process.
NCLAT New Delhi Clarifies Property Inspection For Liquidation Does Not Affect Possessory Rights
Case Title : Middle East Management Services LLP & Anr. Vs Birendra Kumar Agarwal & Ors
Case Number : Company Appeal (AT) (Insolvency) 1518/2026
CITATION : 2026 LLBiz NCLAT 330
The New Delhi National Company Law Appellate Tribunal (NCLAT) on 21 August held that an order directing inspection and measurement of property claimed to form part of a corporate debtor's liquidation estate does not affect disputed ownership or possessory rights when the inspection is limited to identifying and segregating the corporate debtor's property.
Personal Guarantor Cannot Extend Limitation Through Own OTS Proposals: NCLAT New Delhi
Case Title : Kanta Gupta Vs Bank of India & Ors
Case Number : Company Appeal (AT) (Insolvency) 1058/2026
CITATION : 2026 LLBiz NCLAT 331
The National Company Law Appellate Tribunal (NCLAT), New Delhi, on 21 August held that a personal guarantor cannot use her own one time settlement (OTS) proposals to extend limitation under Section 18 of the Limitation Act, 1963, while reiterating that limitation for initiating personal insolvency proceedings begins from the date of invocation of the guarantee.
NCLAT Chennai Restores CIRP Of Jeppiaar Cements, Says Fairness Must Prevail In Insolvency Resolution
Case Title : Babu Manoharan Jaikumar Christhurajan Vs Umesh Garg & Ors
Case Number : Company Appeal (AT) (Insolvency) 358/2022
CITATION : 2026 LLBiz NCLAT 333
The Chennai National Company Law Appellate Tribunal (NCLAT) has set aside the liquidation order dated 26 August 2022 against Jeppiaar Cements Pvt. Ltd., while observing that where multiple options exist to resolve a corporate debtor's insolvency, fairness should prevail, including settlement under Section 12A of the Insolvency and Bankruptcy Code (IBC), which permits the withdrawal of the CIRP upon a successful settlement with creditors.
NCLAT New Delhi To Hear Creditors' Challenge To NCLT Approval Of Subhash Chandra's ₹6.25 Crore Plan
On Monday, 31 August, the National Company Law Appellate Tribunal (NCLAT), New Delhi will hear creditors' appeal against the National Company Law Tribunal (NCLT), New Delhi Bench's approval of Dr. Subhash Chandra's Rs. 6.25 crore repayment plan against admitted claims of Rs. 22,006.57 crore. A Bench comprising officiating Chairperson Justice Yogesh Khanna with Technical Members Barun Mitra and Ajai Das Mehrotra agreed to hear the appeal urgently after Solicitor General Tushar Mehta, appearing for creditors including LIC Housing Finance, HDFC Bank and Union Bank of India, sought an urgent hearing; the Bench fixed the matter for 10:30 am on Tuesday.
NCLAT New Delhi To Hear Creditors' Challenge To NCLT Approval Of Subhash Chandra's ₹6.25 Crore Plan
On Monday, 31 August, the National Company Law Appellate Tribunal (NCLAT), New Delhi will hear creditors' appeal against the National Company Law Tribunal (NCLT), New Delhi Bench's approval of Dr. Subhash Chandra's Rs. 6.25 crore repayment plan against admitted claims of Rs. 22,006.57 crore. A Bench comprising officiating Chairperson Justice Yogesh Khanna with Technical Members Barun Mitra and Ajai Das Mehrotra agreed to hear the appeal urgently after Solicitor General Tushar Mehta, appearing for creditors including LIC Housing Finance, HDFC Bank and Union Bank of India, sought an urgent hearing; the Bench fixed the matter for 10:30 am on Tuesday.
NCLAT New Delhi To Hear Appeal Against Subhash Chandra's ₹6.5 Cr Repayment Plan Tomorrow
Case Title : Union Bank of India (UK) Ltd. Vs. Subhash Chandra & Anr.
Case Number : Comp. App. (AT) (Ins) No. 1613 of 2026
Today, the National Company Law Appellate Tribunal (NCLAT), New Delhi, agreed to hear at 10:30 am tomorrow, an appeal by creditors against approval of Dr Subhash Chandra's Rs. 6.5 crore repayment. Officiating Chairperson Justice Yogesh Khanna with Technical Members Ajai Das Mehrotra and Barun Mitra noted the reference of the matter to a new five-member Bench of the National Company Law Tribunal (NCLT).
Case Title : Union Bank of India (UK) Ltd. Vs. Subhash Chandra & Anr
Case Number : Comp. App. (AT) (Ins) No. 1613 of 2026
Today, the National Company Law Appellate Tribunal (NCLAT), New Delhi, kept appeals filed by financial creditors against the repayment plan of Essel Group Chairman Dr Subhash Chandra pending. A Bench of Officiating Chairperson Justice Yogesh Khanna with Technical Members Ajai Das Mehrotra and Barun Mitra posted the matter for 7 October.
Solicitor General Tushar Mehta, appearing for the financial creditors, informed the Bench about the background to the reference made to the President of the National Company Law Tribunal (NCLT) and the subsequent constitution of a larger five-member Bench.
Public CIRP Announcement Creates Presumption Of Knowledge Of Moratorium: NCLAT
Case Title : Moving Pixels Pvt. Ltd. Vs Jitendra Kothari
Case Number : Company Appeal (AT) (Insolvency) 2219/2024
CITATION : 2026 LLBiz NCLAT 336
The National Company Law Appellate Tribunal (NCLAT) at Delhi has held that the public announcement of a company's insolvency process, along with the uploading of the admission order on the National Company Law Tribunal website, creates a deemed presumption that the appellant had knowledge of the moratorium imposed on the company. The tribunal made the observation while dismissing an appeal by Moving Pixels Pvt. Ltd. against an order directing it to return ₹80 lakh received from NDS Art World Pvt. Ltd. during the moratorium period.
Case Title : Ashish Arjunkumar Rathi Vs Goyal Energy And Steel Private Limited
Case Number : Company Appeal (AT) (Insolvency) 1226/2026
CITATION : 2026 LLBiz NCLAT 337
The National Company Law Appellate Tribunal at Delhi has ruled that an inadvertent clerical error in a mandatory form filed during the insolvency resolution process cannot be characterised as “gross dereliction” of duty when it caused no prejudice to any stakeholder and had no impact on the approved resolution plan or the insolvency resolution process. A bench comprising Judicial Member Justice Mohammad Faiz Alam Khan and Technical Member Naresh Salecha, while expunging the adverse remarks against a former Resolution Professional observed.
RP Can Revisit Admitted Claim After Verification Fails To Establish Financial Debt: NCLAT New Delhi
Case Title : Somani Worsted Limited v. Amit Aggarwal, Resolution Professional of Celebration City Projects Private Limited
Case Number : Company Appeal (AT) (Ins.) No. 150 of 2026
CITATION : 2026 LLBiz NCLAT 339
The National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, on 1 September held that a Resolution Professional (RP) can revisit an earlier admitted claim during subsequent verification if the material on record fails to establish the existence of an independent financial debt. A Bench comprising Judicial Member Justice N. Seshasayee with Technical Members Arun Baroka and Indevar Pandey dismissed Somani Worsted Limited's appeal against the National Company Law Tribunal's (NCLT) order refusing to restore its claim to the list of creditors and reconstitute the Committee of Creditors (CoC).
NCLAT New Delhi Clears Hurdles For ₹15-Cr Talwalkars Sale, Orders ROC To Reset Status To 'Active'
Case Title : RAVIKUMAR GAURISHANKAR PATEL Vs GAJESH LABHCHAND JAIN
Case Number : Company Appeal (AT) (Insolvency) 710/2026
CITATION : 2026 LLBiz NCLAT 340
The National Company Law Appellate Tribunal (NCLAT), New Delhi, on 3 September partly allowed an appeal by Ravikumar Gaurishankar Patel, the successful auction purchaser of Talwalkars Better Value Fitness Ltd., and granted several reliefs sought by him to give effect to the Rs. 15 crore going-concern sale of the company during liquidation. A Bench of Officiating Chairperson Justice Yogesh Khanna with Technical Members Barun Mitra and Ajai Das Mehrotra held that the National Company Law Tribunal (NCLT) had erred in refusing consequential reliefs required to operationalise the sale, including those concerning shareholding, past liabilities, financial creditors, subsisting licences and the company's status on the Ministry of Corporate Affairs (MCA) portal.
Case Title : Loknath Prasad Gupta Vs Dinesh Chand
Case Number : Company Appeal (AT) (Insolvency) 1332/2026
CITATION : 2026 LLBiz NCLAT 342
The National Company Law Appellate Tribunal (NCLAT) at Delhi on 25 August set aside the Kolkata Bench of the National Company Law Tribunal (NCLT) order admitting an insolvency application against Raja Udyog Private Limited.
Post-2026 IBC Amendment, CIRP Withdrawal Barred Before CoC Formation Or After Plan Invitation: NCLAT
Case Title : Aayush Prashant Agarwal Vs Uma Export Limited & Klass Insolvency Resolution Professionals Private Limited
Case Number : I.A. No. 5601 of 2026 in Company Appeal (AT) (Insolvency) 1366/2024
CITATION : 2026 LLBiz NCLAT 338
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently clarified that the 2026 amendment to the Insolvency and Bankruptcy Code has made withdrawal of an admitted insolvency case more stringent. An admitted case cannot be withdrawn before the Committee of Creditors is constituted or after the Resolution Professional issues the first invitation for resolution plans.
Company Cannot Claim Non-Service of Notices After Keeping Registered Office Non-Functional: NCLAT
Case Title : RENU LALIT AGARWAL Vs SIDBI & AJIT GYANCHAND JAIN
Case Number : Company Appeal (AT) (Insolvency) 2264/2024
CITATION : 2026 LLBiz NCLAT 343
The National Company Law Appellate Tribunal (NCLAT) at Delhi has ruled that a company cannot complain of inadequate service of notices when it has itself allowed its registered office to remain non-functional for several years. Dismissing an appeal by the suspended director of AS Infracon Pvt. Ltd., Judicial Member Mohd Faiz Alam Khan and Technical Member Naresh Salecha upheld the initiation of insolvency proceedings against the company.
Practising CA Not Ineligible To Submit Resolution Plan Merely By Profession: NCLAT Delhi
Case Title : Vinay Gupta Vs Oswal Minerals Limited & Satellite Cables Pvt. Ltd
Case Number : Company Appeal (AT) (Insolvency) 1038/2026 & 1032/2024
CITATION : 2026 LLBiz NCLAT 345
The National Company Law Appellate Tribunal (NCLAT), Delhi has dismissed appeals filed by suspended directors of Satellite Cables Pvt. Ltd., holding that a practising Chartered Accountant cannot be treated as ineligible to submit a resolution plan merely by virtue of being a Chartered Accountant. A Bench of Judicial Member Justice Mohd Faiz Alam Khan and Technical Member Arun Baroka also held that procedural irregularities in a Corporate Insolvency Resolution Process (CIRP) must be shown to have materially affected the approval of a resolution plan to sustain a challenge under Section 61 of the Insolvency and Bankruptcy Code (IBC).
NCLAT Closes Insolvency Process Despite Failure Of Statutory Withdrawal Mechanism
Case Title : Deepak Modi Vs Shalfeyo Industries Private Limited
Case Number : Company Appeal (AT) (Insolvency) 222/2025
CITATION : 2026 LLBiz NCLAT 346
The National Company Law Appellate Tribunal at New Delhi, has closed the insolvency proceedings against Shalfeyo Industries Private Limited. It held that although the statutory mechanism for withdrawing the proceedings under Section 12A could not be completed, keeping the Corporate Insolvency Resolution Process alive would serve no meaningful purpose.
NCLAT Quashes Guarantor Insolvency Proceedings Filed Before Different NCLT Bench Than CIRP
Case Title : Kamlesh Rani Singla Vs Praveen Kumar Garg & Ors
Case Number : Company Appeal (AT) (Insolvency) 275/2026
CITATION : 2026 LLBiz NCLAT 347
The National Company Law Appellate Tribunal (NCLAT) at New Delhi, has quashed insolvency proceedings against a personal guarantor after finding that the corporate debtor's Corporate Insolvency Resolution Process (CIRP) was pending before another NCLT Bench. The bench of Judicial Member Justice Sharad Kumar Sharma and Technical Members Arun Baroka and Indevar Pandey held that where the CIRP of a corporate debtor is pending before one NCLT Bench, proceedings concerning its personal guarantor must be filed before the same Bench under Section 60(2) of the Insolvency and Bankruptcy Code, 2016 (IBC).
'Clean Slate' Protection U/S 32A IBC Extends To Going Concern Buyers During Liquidation: NCLAT Delhi
Case Title : AMITKUMAR RISHI KUMAR BHABHDA & Ors Vs AMIT CHANDRASHEKHAR PODDAR & Ors
Case Number : Company Appeal (AT) (Insolvency) 221/2026
CITATION : 2026 LLBiz NCLAT 349
The Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 9 September held that the “clean slate” protection under Section 32A of the Insolvency and Bankruptcy Code, 2016 (IBC) extends to buyers who purchase a corporate debtor as a going concern during liquidation.
NCLAT Delhi Says Resolution Applicant's Death Is Not Liquidation Ground, Revives Genius Exports CIRP
Case Title : ARUN KUMAR SINGH Vs GENIUS EXPORTS PRIVATE LIMITED & Ors
Case Number : Company Appeal (AT) (Insolvency) 1699/2025 & 1700/2025; 1701 & 1702 of 2025
CITATION : 2026 LLBiz NCLAT 348
On 9 September, the National Company Law Appellate Tribunal (NCLAT), New Delhi held that the death of a resolution applicant before approval of a resolution plan does not, by itself, justify liquidation of the corporate debtor, particularly when a withdrawal application under Section 12A of the Insolvency and Bankruptcy Code, 2016 (IBC) based on a settlement is pending.
Case Title : North Life Spaces LLP Vs Dalal Family Private Trust
Case Number : Company Appeal (AT) (Insolvency) 1610/2025
CITATION : 2026 LLBiz NCLAT 350
The National Company Law Appellate Tribunal (NCLAT) at Delhi, has ruled that a deposit expressly made “without prejudice” to a debtor's rights and contentions cannot, by itself, be treated as an unconditional admission of liability. The bench of Judicial Member Justice N. Seshasayee and Technical Member Indevar Pandey observed, “A deposit expressly made without prejudice cannot, by itself, be treated as an unconditional admission of a liability, particularly when the appellant had already raised specific objections to the maintainability of the proceedings. At the best it only indicates that the appellant is solvent and not insolvent to initiate CIRP.”
NCLT President Can Transfer Cases Across Territorial Jurisdictions: NCLAT
Case Title : Kamlesh Rani Singla Vs Praveen Kumar Garg & Ors
Case Number : Company Appeal (AT) (Insolvency) 275/2026
CITATION : 2026 LLBiz NCLAT 347
The National Company Law Appellate Tribunal (NCLAT), New Delhi has ruled that the President of the National Company Law Tribunal (NCLT) can transfer a case from one bench to another even when the benches are in different territorial jurisdictions. The bench comprising Judicial Member Justice Sharad Kumar Sharma, Technical Member Arun Baroka and Technical Member Indevar Pandey held that Rule 16(d) of the NCLT Rules, 2016 does not restrict the President's power to transfers within the same territorial jurisdiction.
NCLAT Upholds ₹4.37 Crore Liability On Linkson International Suspended Directors Over Round-Tripping
Case Title : Yashwant Lalchand Sangla Vs Manish Baldeva
Case Number : Company Appeal (AT) (Insolvency) 830/2024
CITATION : 2026 LLBiz NCLAT 351
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has upheld a ₹4.37 crore contribution ordered against suspended directors of Linkson International Ltd., finding that money raised through property loans was routed back to the company and its related entities. “It appears to be a crystal-clear case of round-tripping of money, and the sole purpose of it was to defraud the creditors,” the tribunal observed.
Later Amendment Cannot Retrospectively Alter Liquidation Process Already Commenced: NCLAT
Case Title : State Bank of India Vs Garden Court Distilleries Pvt Ltd & Akhil Ahuja,
Case Number : Company Appeal (AT) (Insolvency) 1138/2026 & 1145/2026
CITATION : 2026 LLBiz NCLAT 352
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has ruled that a later regulatory amendment cannot retrospectively alter a liquidation process that had already commenced. It held that the rights and obligations arising from the process must be determined under the regulations in force when the liquidation order was passed.
Arbitration Is A Private Remedy, It Cannot Override Statutory Rights Under IBC: NCLAT Chennai
Case Title : M/s Posco International Corporation v. M/s Mohana Cotton Ginning Private Limited
Case Number : TA (AT) No.205/2021
CITATION : 2026 LLBiz NCLAT 353
The National Company Law Appellate Tribunal (NCLAT), Chennai on 27 August observed that an arbitration clause in a contract, being a private remedy agreed between parties, cannot override or take away the statutory remedy available under the Insolvency and Bankruptcy Code, 2016 (IBC).
Mere Pendency Of Criminal Proceedings Does Not Disqualify Resolution Applicant: NCLAT
Case Title : Suraksha Realty Ltd. Vs Amit Gupta & Ors
Case Number : Company Appeal (AT) (Insolvency) 1041/2024
CITATION : 2026 LLBiz NCLAT 356
The National Company Law Appellate Tribunal (NCLAT) at Delhi has ruled that the mere pendency of criminal proceedings or an investigation does not by itself make a prospective Resolution Applicant ineligible to submit a resolution plan under the Insolvency and Bankruptcy Code, 2016 (IBC).
Joint And Several Liability In Arbitral Award Does Not Extinguish Personal Guarantee: NCLAT Delhi
Case Title : Ravindra Gopalkrishan Agarwal Vs Jankalyan Sahakari Bank Ltd. & MVK IPE LLP
Case Number : Company Appeal (AT) (Insolvency) 636/2025, 637/2025, 638/2025, 696/2025
CITATION : 2026 LLBiz NCLAT 355
The National Company Law Appellate Tribunal (NCLAT), New Delhi, on 17 September held that an arbitral award providing for joint and several liability does not, by itself, alter the legal status of a Personal Guarantor or extinguish the original contract of guarantee.
Removal Of Hypothecated Machinery During Insolvency Can Amount To Fraudulent Trading: NCLAT
Case Title : Dinesh Keshawrao Atkare & Madan Keshawrao Atkare Vs Palak Swapnil Desai
Case Number : Company Appeal (AT) (Insolvency) 325/2025
CITATION : 2026 LLBiz NCLAT 358
The National Company Law Appellate Tribunal (NCLAT) at Delhi has held that removing high-value secured (hypothecated) machinery during insolvency proceedings and replacing it with substantially lower-value machinery is not a mere technical irregularity.
Objection To Demand Notice Served Via FedEx Cannot Defeat Insolvency Plea If Notice Received: NCLAT
Case Title : Identity Science Company Ltd Vs Sonal Plasrub Industries Private Limited
Case Number : Company Appeal (AT) (Insolvency) 2063/2024
CITATION : 2026 LLBiz NCLAT 357
The National Company Law Appellate Tribunal (NCLAT) at Delhi on Thursday ruled that an objection to service of a demand notice via FedEx cannot defeat insolvency proceedings when the corporate debtor has received the notice and had knowledge of the claim. The bench comprising Judicial Member Justice Sharad Kumar Sharma, Technical Member Arun Baroka and Technical Member Indevar Pandey observed, “Hyper-technical objections cannot be permitted to defeat a proceeding when from the circumstantial evidence it is inferred that the Corporate Debtor has, in substance, received the Demand Notice and had knowledge of the claim.”
NCLAT Dismisses Challenge To Rungta Mines' Resolution Plan For NSL Nagapatnam Power
Case Title : Mandava Prabhakar Rao Vs Navneet Kumar Gupta & Ors
Case Number : Company Appeal (AT) (Insolvency) 258/2025
CITATION : 2026 LLBiz NCLAT 359
The National Company Law Appellate Tribunal Member Naresh Salecha has backed dismissal of suspended director Mandava Prabhakar Rao's challenge to Rungta Mines' resolution plan for NSL Nagapatnam Power and Infratech Ltd. He held that Rao's representative was rightly excluded from the 20th Committee of Creditors meeting for lack of written authorisation and a confidentiality undertaking. Salecha's opinion follows a difference of opinion between the Judicial and Technical Members of the original NCLAT Chennai bench.
Case Title : Navneet Gupta Insolvency Professional v. Insolvency and Bankruptcy Board of India & Anr.
Case Number : CA (AT) (Ins) No. 1612 of 2026 with CA (AT) (Ins) No. 1629 of 2026
CITATION : 2026 LLBiz NCLAT 354
The National Company Law Appellate Tribunal (NCLAT), Delhi, has recently held that a complainant whose complaint leads to disciplinary proceedings against an Insolvency Professional (IP) can qualify as a “person aggrieved” under Section 220(7) of the Insolvency and Bankruptcy Code, 2016 (IBC). The tribunal held that such a complainant can appeal against a final punitive order passed by the Insolvency and Bankruptcy Board of India's (IBBI) Disciplinary Committee.
GNIDA, NOIDA Not Secured Creditors In Shubhkamna Buildtech Insolvency: NCLAT
Case Title : Greater Noida Industrial Development Authority Vs Anand Sonbhadra & Ors
Case Number : Company Appeal (AT) (Insolvency) 184/2023 & 1107/2023
CITATION : 2026 LLBiz NCLAT 360
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has dismissed appeals by the Greater Noida Industrial Development Authority (GNIDA) and New Okhla Industrial Development Authority (NOIDA), holding that their lease deeds did not create a security interest that would make them secured creditors in the insolvency proceedings of Shubhkamna Buildtech Pvt. Ltd. A bench of Judicial Member Justice Mohammad Faiz Alam Khan and Technical Member Naresh Salecha held that the “first charge” under the lease deeds was limited to the authorities' share of any unearned increase in the value of the land.
NCLAT Delhi Says Counsel's Personal Difficulties Cannot Explain Appellant's 202-Day Refiling Delay
Case Title : RAJENDRA DEVIDAS PURANIK
Case Number : Company Appeal (AT) (Insolvency) 326/2026
CITATION : 2026 LLBiz NCLAT 361
Conversion of IBC Appeal Into Companies Act Appeal Does Not Save Limitation: NCLAT
Case Title : Anjaniputra Ispat Ltd. Vs IAG Company Ltd & Trust Estate Khimji Keshwaji
Case Number : Company Appeal (AT) 39/2026
CITATION : 2026 LLBiz NCLAT 363
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently held that an appeal filed under the insolvency law does not provide continuity for limitation when it is transformed into an appeal under the company law. The tribunal was dealing with an appeal initially filed under Section 61 of the Insolvency and Bankruptcy Code (IBC), which provides for appeals against orders in insolvency proceedings. The appellant later sought to convert it into an appeal under Section 421 of the Companies Act, 2013, which provides for appeals against orders passed in company law proceedings.
NCLAT Orders ₹54 Crore Refund To JFC Finance After It Is Outbid In Moser Baer Solar Auction
Case Title : ARVIND GARG Vs JFC FINANCE (INDIA) LIMITED
Case Number : I.A. No. 4727 of 2026 in Comp. App. (AT) (Ins) No. 1820 of 2025
CITATION : 2026 LLBiz NCLAT 365
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has rejected a plea by the Liquidator of Moser Baer Solar Ltd. seeking to keep JFC Finance (India) Ltd.'s ₹54 crore deposit until the highest bidder in a fresh auction pays the entire sale consideration. A bench of Officiating Chairperson Justice Yogesh Khanna and Technical Member Barun Mitra held that JFC's deposit had to be returned once another bidder surpassed its bid, as specifically directed in the court's earlier order.
Case Title : Bhumika Nilay R. Shah & Ors Vs Prawincharan Prafulcharan Dwary & Ors
Case Number : Company Appeal (AT) (Insolvency) 702/2026, 703/2026, 704/2026
CITATION : 2026 LLBiz NCLAT 364
The National Company Law Appellate Tribunal (NCLAT) has ruled that personal guarantors of an insolvent company cannot re-agitate the extent of their liability under a Deed of Guarantee after the Debt Recovery Tribunal (DRT) has already adjudicated the issue and its order has attained finality.
Subhash Chandra Moves NCLAT Against Restraint On Alienating Assets In Insolvency Case
Case Title : Dr. Subhash Chandra Personal Guarantor VS Shiv Nandan Sharma Resolution Professional
Case Number : Company Appeal(AT)(Ins) 1818/2026
Case Title : Narendra Kishanlal Bubna v. Nakul Kishanlal Bubna & Ors
Case Number : Company Appeal (AT) No. 307 of 2026
CITATION : 2026 LLBiz NCLAT 366
The Principal Bench of the National Company Law Appellate Tribunal (NCLAT) at New Delhi, has held that a party's past inaction cannot influence adjudication of a matter on merits once the proceedings are being considered on merits.
NCLAT Declines To Interfere With Talent Unlimited CIRP, Grants Affle Liberty To Move NCLT
Case Title : Affle 3i Limited Vs Axis Trustee Services Limited & Talent Unlimited Online Services Private Limited
Case Number : Company Appeal (AT) (Insolvency) 1474/2026
CITATION : 2026 LLBiz NCLAT 368
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has declined to interfere with the order admitting Talent Unlimited Online Services Pvt. Ltd. into the Corporate Insolvency Resolution Process (CIRP). It has, however, given Affle 3i Limited liberty to approach the National Company Law Tribunal (NCLT) with a proper application under Section 65 of the Insolvency and Bankruptcy Code (IBC).
NCLAT Directs NCLT To Hear RP Replacement Plea Before Resolution Plan In Nimitaya Hotel CIRP
Case Title : Indian Bank Vs Nimitaya Hotel & Resorts Ltd
Case Number : Company Appeal (AT) (Insolvency) 1591/2026, 1592/2026, 1593/2026
CITATION : 2026 LLBiz NCLAT 367
The National Company Law Appellate Tribunal (NCLAT) at Delhi has directed the NCLT to first consider Indian Bank's application seeking replacement of the Resolution Professional (RP) in the insolvency proceedings of Nimitaya Hotel & Resorts Ltd. before taking up the Bank's applications seeking dismissal of the existing resolution plan and permission to issue a fresh Form-G. (expression of interest)
Mere Effect Of IBC Order On Property Possession Does Not Make It A Landlord-Tenant Matter: NCLAT
Case Title : DUKE FASHIONS (INDIA) LTD. Vs PRAMOD KUMAR MISRA & Ors
Case Number : Company Appeal (AT) (Insolvency) 1462/2026 & 1475/2026
CITATION : 2026 LLBiz NCLAT 369
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has reiterated that an insolvency dispute does not become a landlord-tenant dispute merely because an order under the Insolvency and Bankruptcy Code (IBC) affects possession of a property.
CoC's Commercial Wisdom Must Be Respected In Replacing Resolution Professional: NCLAT
Case Title : S. VISWANATHAN Vs CANARA BANK
Case Number : Company Appeal (AT) (Insolvency) 191/2022 & 231/2022
CITATION : 2026 LLBiz NCLAT 370
The National Company Law Appellate Tribunal (NCLAT) at Chennai has recently held that while a Resolution Professional (RP) must function independently and not at the whims of a dominant creditor, the Committee of Creditors' (CoC) majority view on replacing an RP must be respected.
Case Title : Assistant Commissioner Vs Shruti Gupta & Ors
Case Number : Company Appeal (AT) (Insolvency) 745/2025
CITATION : 2026 LLBiz NCLAT 373
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has held that a secured creditor's failure to communicate its decision regarding its security within 30 days of commencement of liquidation results in the assets covered by the security being presumed to form part of the liquidation estate. “As the creditor did not give its choice of non-relinquishment of security within 30 days, it is presumed that the creditor relinquished its security against the Corporate Debtor,” a bench comprising Judicial Member Justice Sharad Kumar Sharma, Technical Member Arun Baroka and Indevar Pandey observed.
Case Title : Dr. Subhash Chandra Personal Guarantor VS Shiv Nandan Sharma Resolution Professional
Case Number : Company Appeal(AT)(Ins) 1818/2026 & 1856/2026
The National Company Law Appellate Tribunal (NCLAT) on Tuesday issued notice in an appeal filed by Essel Group Chairman Subhash Chandra. The appeal challenges a September 1 order of the Delhi Bench of the National Company Law Tribunal (NCLT), which restrained him from alienating his assets during insolvency proceedings initiated against him as a personal guarantor.
NCLAT Refuses To Set Aside CIRP Admission On Post-Admission Settlement, Directs IRP To Approach NCLT
Case Title : Vijaybhai Dhanjibhai Detroja v. Vidres India Ceramics Private Limited & Anr
Case Number : Comp. App. (AT) (Ins) No. 1698 of 2026
CITATION : 2026 LLBiz NCLAT 375
The National Company Law Appellate Tribunal (NCLAT) at New Delhi has refused to set aside an insolvency admission order solely on the basis of a settlement reached after the Corporate Insolvency Resolution Process (CIRP) had begun. A bench of Judicial Member Justice Mohammad Faiz Alam Khan and Technical Member Naresh Salecha held that a settlement reached after admission of a Section 9 application cannot by itself efface the admission order or bring the CIRP to an end.
Case Title : EASTERN POWER DISTRIBUTION COMPANY OF ANDHRA PRADESH LIMITED. Vs DAULAT RESOLUTION SERVICES PVT. LTD
Case Number : Company Appeal (AT) (Insolvency) 347/2026
CITATION : 2026 LLBiz NCLAT 374
The National Company Law Appellate Tribunal (NCLAT) has observed that litigants should not be made to suffer when lawyers, because of professional misunderstandings, grudges or monetary disputes, stop effectively pursuing their cases.
NCLAT Issues Notice To Eros On Phantom Studios' Insolvency Appeal
Case Title : Phantom Studios India Pvt. Ltd. Vs. Eros International Media Ltd.
Case Number : Comp. App. (AT) (Ins) No. 1800 of 2026
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has issued notice to Eros International Media Ltd. in an appeal filed by Phantom Studios India Pvt Ltd against dismissal of its insolvency plea.
Restoration Plea Filed Beyond 30 Days Can't Be Entertained Without Condonation Of Delay: NCLAT Delhi
Case Title : Vivekanand Rai & Anr. v. Chemie-Tech Projects Ltd
Case Number : Comp. App. (AT) (Ins) No. 1924 of 2025
CITATION : 2026 LLBiz NCLAT 376
The Principal Bench of the National Company Law Appellate Tribunal (NCLAT) at New Delhi, on 18 September held that an application seeking restoration of a company petition dismissed for non-appearance under Rule 48(2) of the NCLT Rules, 2016 must be filed within 30 days of the dismissal. If filed beyond this period, the applicant must first seek condonation of delay.
Subsequent CIRP Makes Earlier Appeal Against Insolvency Rejection Infructuous: NCLAT New Delhi
Case Title : Mekaster Finlease Limited v. Prayag Polytech Private Limited
Case Number : Company Appeal (AT) (Ins.) No. 1582 of 2025
CITATION : 2026 LLBiz NCLAT 377
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) on 18 September held that an appeal against rejection of a creditor's application to initiate Corporate Insolvency Resolution Process (CIRP) becomes infructuous once CIRP has already commenced against the same Corporate Debtor in a subsequent proceeding.
OTS Failure Cannot Create Fresh Default For CIRP, Original Debt Position Revives: NCLAT Chennai
Case Title : UMA MAHESWARI Vs UCO BANK & RAMAKRISNAN SADASIVAN
Case Number : Company Appeal (AT) (Insolvency) 136/2023
CITATION : 2026 LLBiz NCLAT 378
On 28 September, the National Company Law Appellate Tribunal (NCLAT) at Chennai held that failure to comply with the terms of a One-Time Settlement (OTS) does not constitute a fresh default for initiating the Corporate Insolvency Resolution Process (CIRP).
Personal Guarantor Who Settled Company Debt Cannot Claim Financial Creditor Status: NCLAT
Case Title : Tamil Nadu Mercantile Bank Limited Vs E.Santhanalakshmi & Ors
Case Number : Company Appeal (AT) (Insolvency) 19/2025, 20/2025, 21/2025, 430/2025
CITATION : 2026 LLBiz NCLAT 380
The National Company Law Appellate Tribunal (NCLAT), Chennai, has held that a personal guarantor who settled a corporate debtor's dues with its financial creditor, did not become a financial creditor in the liquidation proceedings. A bench of Judicial Member Justice Sharad Kumar Sharma and Technical Member Jatindranath Swain found that there was no assignment of the debt in S.V. Ramasamy's favour. He had also not sought substitution of Tamil Nadu Mercantile Bank (TMB) in the liquidation proceedings.
ESI Contributions Cannot Be Treated As Ordinary Operational Debt Under IBC: NCLAT
Case Title : Employees State Insurance Corporation Vs Sri Lakshmi Srinivasa Jute Mills Private Limited & Ors
Case Number : Company Appeal (AT) (Insolvency) 410/2022
CITATION : 2026 LLBiz NCLAT 379
The National Company Law Appellate Tribunal (NCLAT) at Chennai has held that ESI contributions covered by the statutory trust mechanism cannot be treated as ordinary operational debt merely because the Employees State Insurance Corporation filed its claim as an operational creditor.
NCLAT Directs NCLT To Hear Collusion Plea Before Deciding Insolvency Case
Case Title : Shri Sant Eknath Co-operative Sugar Factory Ltd. v. Sachin Ghayal Sugar Pvt. Ltd. & Anr.
Case Number : Company Appeal (AT) (Ins.) No. 1767 of 2025
CITATION : 2026 LLBiz NCLAT 381
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently directed the NCLT, Mumbai Bench, to first decide an application filed by a sugar cooperative alleging that a Section 7 insolvency case against a company was collusive and could prejudice its rights.
NCLT
Case Title : AXIS TRUSTEE SERVICES LIMITED Vs TALENT UNLIMITED ONLINE SERVICES PRIVATE LIMITED
Case Number : C.P.(IB)–169(ND)/2026
CITATION : 2026 LLBiz NCLT(DEL) 657
The National Company Law Tribunal (NCLT) at New Delhi has admitted an insolvency plea over a default of about Rs 5.77 crore against Talent Unlimited Online Services Private Limited, known as the parent company of Bobble AI, on secured non-convertible debentures.Business & Corporate Law
Case Title : St John Lines PTE Limited v. R Venkatakrishnan
Case Number : IA/13/IBC/2025 in CP(IB)/759/CHE/2018
CITATION : 2026 LLBiz NCLT(CHE) 658
A step-down subsidiary cannot use indirect or colourable means to extract assets or establish parallel claims against its holding company undergoing liquidation, the National Company Law Tribunal, Chennai, held.
NCLT Allahabad Says It Cannot Determine Unadjudicated MSMED Interest Claims During CIRP
Case Title : MODERN OVERSEAS PRIVATE LIMITED Vs PARAMJEET SINGH BHATIA & Ors
Case Number : IA No.722/2025 IN CP (IB) No.04/ALD/2019
CITATION : 2026 LLBiz NCLT (ALL) 660
The Allahabad Bench of the National Company Law Tribunal (NCLT) has recently held that it cannot determine an unadjudicated claim for interest under the Micro, Small, and Medium Enterprises Development (MSMED) Act during the corporate insolvency resolution process if the interest liability had not been adjudicated by a competent forum before the insolvency proceedings commenced.
NCLT Chandigarh Holds Marketing MoU Cannot Confer Homebuyer Status, Rejects ₹11 Crore Claim
Case Title : RealPro Assets Ltd Vs Rahul Jindal
Case Number : I.A.(I.B.C) No.891 of 2025 in CP (IB) No. 98/Chd/Hry/2022
CITATION : 2026 LLBiz NCLT(CHA) 659
The Chandigarh Bench of the National Company Law Tribunal (NCLT) on 11 June held that a marketing and sales facilitation agreement does not confer the status of a homebuyer or financial creditor in the absence of documents evidencing allotment of flats.
Case Title : Keshab Chand Gupta & Ors Vs Rahul Jindal & Ors
Case Number : I.A.(I.B.C)/585(CH)/2025 in CP (IB) No. 98/Chd/Hry/2022
CITATION : 2026 LLBiz NCLT(CHA) 661
The Chandigarh Bench of the National Company Law Tribunal (NCLT) has dismissed an application filed by three homebuyers seeking recognition as financial creditors of Samar Estates Pvt. Ltd. The tribunal held that the applicants failed to establish that the disputed Rs 60 lakh had been disbursed to the corporate debtor. It noted that the applicants themselves admitted the money had been paid into the personal accounts of the company's directors.
Case Title : Punjab National Bank vs. Goyal Energy and Steel Limited
Case Number : IA (IB) (Plan) No. l/CB/2026 in CP (IB) No. 41/CB/2o23
CITATION : 2026 LLBiz NCLT (CUT) 663
The National Company Law Tribunal (NCLT) at Cuttack has recently approved a resolution plan worth ₹79 crore for Goyal Energy and Steel Limited, submitted by Mumbai-based Nakshatra Asset Ventures Ltd.
Case Title : Green Consultancy Vs Jhaveri Spices Private Limited
Case Number : C.P.(IB)/122(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 664
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 23 June 2026 dismissed an insolvency petition filed by Green Consultancy against Jhaveri Spices Pvt. Ltd., holding that a claim arising from a sales incentive scheme promising transfer of immovable property does not qualify as “operational debt” under the Insolvency and Bankruptcy Code, 2016 (IBC), and therefore cannot sustain proceedings under Section 9.
Mere Allegations Of Fraud Cannot Become A Vehicle To Reopen Every Concluded CIRP: NCLT Bengaluru
Case Title : Smt. Yogitha Vijayakumar v. Mrs Shirley Mathew
Case Number : IA No. 857 of 2025 in CP(IB) No. 02/BB/2020
CITATION : 2026 LLBiz NCLT(BEN) 665
The National Company Law Tribunal at Bengaluru has reiterated that mere allegations of fraud cannot be permitted to become a vehicle for reopening every concluded Corporate Insolvency Resolution Process, especially when such allegations are founded on materials that were already available during the insolvency proceedings.
Case Title : M.P Krishnan v. M/s Frontier Shelters Pvt Ltd
Case Number : IA(IBC) 159/2026 in CP(IB) No. 170/BB/2025
CITATION : 2026 LLBiz NCLT(BEN) 666
The National Company Law Tribunal (NCLT) at Bengaluru has recently held that allowing a group of homebuyers to intervene in a developer's insolvency petition at the pre-admission stage would "amount to opening the floodgates" for objections on extraneous considerations
NCLT Chandigarh Rejects Recasting Of Claims Based On Pre-CIRP Refunds, Upholds RP Methodology
Case Title : Ashok Gupta & Ors. v. Rahul Jindal, Resolution Professional, Samar Estate Pvt. Ltd.
Case Number : I.A. (I.B.C.) No. 2596 of 2024 in CP (IB) No. 98/Chd/Hry/2022
CITATION : 2026 LLBiz NCLT(CHA) 668
The Chandigarh Bench of the National Company Law Tribunal (NCLT) on 5 June 2026 held that homebuyers cannot reappropriate amounts refunded before commencement of the Corporate Insolvency Resolution Process (CIRP) towards interest to enhance their admitted claims.
Case Title : Tollman International Private Limited v. Capstech Network Private Limited
Case Number : I.A. No. 206/ND/2025 in C.P. (IB) No. 2/ND/2024
CITATION : 2026 LLBiz NCLT(DEL) 667
The National Company Law Tribunal (NCLT) in New Delhi has held that perjury jurisdiction cannot be invoked to penalise every pleading defect or omission.
Settlement Restructuring Payment Timelines Does Not Change Nature Of Operational Debt: NCLT Chennai
Case Title : Om Tranns Infra Corporation Private Limited v. Everrenew Energy Private Limited
Case Number : CP(IB)/140(CHE)/2025
CITATION : 2026 LLBiz NCLT(CHE) 673
The National Company Law Tribunal (NCLT) at Chennai has held that a settlement agreement that merely restructures repayment or acknowledges an existing liability does not extinguish or alter the original character of the debt.
Monitoring Committee Cannot Override Fee Caps In Approved Resolution Plan: NCLT Bengaluru
Case Title : Mr. Padmanabhan Nair v. Mr. Pulkit Agarwal
Case Number : IA No. 304 of 2026 in CP(IB) No. 87/BB/2023
CITATION : 2026 LLBiz NCLT(BEN) 674
The Bengaluru Bench of the National Company Law Tribunal (NCLT) on 22 June held that a Monitoring Committee cannot override or modify fee caps prescribed under an approved resolution plan through internal arrangements or mutual consent.
Patient Privacy Can't Bar RP's Access To Hospital Management System: NCLT Indore
Case Title : Chaya Gupta, Resolution Professional of Greater Kailash Hospitals Private Limited v. Anil Bandi & Anr.
Case Number : I.A. (I.B.C.) No. 347(MP)2025 in C.P. (IB) No. 3(MP)2024
CITATION : 2026 LLBiz NCLT(IND) 672
The National Company Law Tribunal (NCLT) in Indore has ruled that suspended directors of a hospital undergoing insolvency proceedings cannot deny a resolution professional access to its Hospital Management System by citing patient-data privacy.
Case Title : M/s. Silver Collections Private Limited v. M/s. Paragon Knits Limited
Case Number : CP (IB) No. 763/(ND)/2024
CITATION : 2026 LLBiz NCLT(DEL) 675
The New Delhi National Company Law Tribunal (NCLT) has held that once parties enter into a settlement agreement before admission of a Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016, any subsequent default arising from such settlement does not give rise to an “operational debt” and cannot sustain insolvency proceedings
Case Title : IIFL Home Finance Limited Vs. M/S. J-Seventy-One Properties And Pictures Pvt. Ltd.
Case Number : C.P. (IB)/721(MB)2025
CITATION : 2026 LLBiz NCLT (MUM) 678
The Mumbai Bench of the National Company Law Tribunal (NCLT) has admitted an insolvency plea filed by IIFL Home Finance Ltd. against J-Seventy One Properties and Pictures Pvt. Ltd. after finding that the company owed a financial debt of about ₹2.42 crore and had remained in default. Judicial Member Nilesh Sharma and Technical Member Sameer Kakar held that the financial debt and the continuing default were established through documentary evidence.
Case Title : Vaishali Patrikar, Resolution Professional vs M/s Dev Land and Housing Private Limited and Others
Case Number : IA 1626 of 2023
CITATION : 2026 LLBiz NCLT (MUM) 679
The Mumbai Bench of the National Company Law Tribunal (NCLT), hearing proceedings arising from the corporate insolvency resolution process (CIRP) of Satra Properties (India) Ltd., has held that the forfeiture of ₹29.35 crore advanced by the company to Dev Land & Housing Pvt. Ltd. was a fraudulent transaction.
Interest-Bearing Inter-Corporate Loan Can Qualify As Financial Debt Under IBC: NCLT Kolkata
Case Title : Scorpion Nirman Private Limited v. Swal Limited
Case Number : C.P. (IB) No. 261/KB/2025
CITATION : 2026 LLBiz NCLT (KOL) 677
The National Company Law Tribunal (NCLT), Kolkata Bench, has held that an inter-corporate loan carrying interest qualifies as a "financial debt" under Section 5(8) of the Insolvency and Bankruptcy Code, 2016, provided it satisfies the twin requirements of time value of money and commercial effect of borrowing
Case Title : Immix Trade Private Limited Vs Sunrise Properties Pvt Ltd
Case Number : IA/2411/2025 C.P. (IB)/1154(MB)2023
CITATION : 2026 LLBiz NCLT (MUM) 680
The National Company Law Tribunal (NCLT) at Mumbai has recently held that a financial creditor's invocation of pledged shares after the commencement of the Corporate Insolvency Resolution Process (CIRP) violated the moratorium under the Insolvency and Bankruptcy Code (IBC). It ruled that the creditor's contractual right to invoke the pledge could not override the statutory moratorium.
Case Title : Bank Of Maharashtra Vs DNR India Autotech Private Limited
Case Number : C.P.(IB)/1(MB)2026
CITATION : 2026 LLBiz NCLT (MUM) 681
The Mumbai Bench of the National Company Law Tribunal (NCLT) has recently admitted Bank of Maharashtra's insolvency plea against DNR India Autotech Pvt Ltd. The Corporate Insolvency Resolution Process has been initiated over an alleged default of ₹17.98 crore arising from a corporate guarantee executed by the company for credit facilities extended to Tirumalla Agro Industries Pvt Ltd
IBC Threshold Must Be Tested Against MahaRERA Records At Time Of Filing Petition: NCLT Mumbai
Case Title : K. D. LITE DEVELOPERS PRIVATE LIMITED vs M.S. Gopikrishnan & Ors
Case Number : IA No.3045 of 2024 In C.P (IB) No.1420 of 2020
CITATION : 2026 LLBiz NCLT (MUM) 682
On 6 July, the Mumbai Bench of the National Company Law Tribunal (NCLT) held that the number of allottees reflected on the MahaRERA website on the date of filing an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) is the relevant benchmark for determining whether the statutory threshold for initiating insolvency proceedings is satisfied.
COVID Extension Does Not Waive Interest On Delayed Liquidation Payments: NCLT Mumbai
Case Title : IDBI Bank Ltd. V/s. S Kumars Nationwide Ltd.
Case Number : IA 2447/2021 In C.P. (IB) 294(MB)/2018
CITATION : 2026 LLBiz NCLT (MUM) 683
On 6 July, the Mumbai Bench of the National Company Law Tribunal (NCLT) held that a liquidator's extension of the timeline for payment of auction consideration due to COVID 19 disruptions under Regulation 47A of the Liquidation Process Regulations does not waive the successful bidder's liability to pay contractual interest for delayed payment.
IBC Claim Requires Crystallised Right To "Payment," Not Mere Right To "Performance": NCLT Kolkata
Case Title : Indian Overseas Bank vs D C Industrial Plant Services Private Limited
Case Number : I.A. (IB) No. 1832/KB/2019 In C.P. (IB) No. 45/KB/2018
CITATION : 2026 LLBiz NCLT (KOL) 684
The Kolkata Bench of the National Company Law Tribunal (NCLT) on 3 July held that a contractual right to performance cannot be treated as a “right to payment” under Section 3(6) of the Insolvency and Bankruptcy Code, 2016, unless the claim has crystallised into a payable amount.
Statutory Authorities Not Exempt From CIRP Timelines: NCLT Mumbai Rejects EPFO's Delayed Claim
Case Title : The Central Board of Trustees, PFO vs Ashok Kumar Golechha
Case Number : INV. P. No. (IBC)/141/(MB)/2025
CITATION : 2026 LLBiz NCLT (MUM) 687
The Mumbai Bench of the National Company Law Tribunal refused to condone a 400-day delay by the Employees' Provident Fund Organisation (EPFO) in filing its claim in the corporate insolvency resolution process (CIRP) of Sovika Aviation Services Pvt Ltd
Case Title : KDRA INSOLVENCY PROFESSIONALS PRIVATE LIMITED vs ARMAAN SUNIL KOTHARI
Case Number : IA (I.B.C) (Plan) No. 46/MB/2025 in CP (IB) No. 786/MB/2023
CITATION : 2026 LLBiz NCLT (MUM) 688
The Mumbai Bench of the National Company Law Tribunal has rejected the resolution plan submitted by Armaan Sunil Kothari for 4B Networks Pvt Ltd. It held that the plan wrongly allowed the successful resolution applicant (SRA) to exclusively retain recoveries from pending Preferential, Undervalued, Fraudulent and Extortionate (PUFE) proceedings, including one seeking recovery of about ₹7,349 crore.
Case Title : Oriental Bank Of Commerce Vs Panache Exports Pvt Ltd
Case Number : IA/3782/2025 C.P. (IB)/2607(MB)2019
CITATION : 2026 LLBiz NCLT (MUM) 689
The Mumbai Bench of the National Company Law Tribunal (NCLT) has held that a cooperative society can enforce its statutory first charge over a property against an auction purchaser even after participating in the liquidation process by filing its claim before the liquidator.
NCLT Kochi Rejects Insolvency Plea Against BPL, Finds It Was Attempt To Recover Arbitral Award Dues
Case Title : M/s Morgan Securities and Credits Pvt Ltd v. BPL Limited
Case Number : CP(IB)/10/KOB/2026
CITATION : 2026 LLBiz NCLT (KOC) 690
The National Company Law Tribunal (NCLT) at Kochi has recently dismissed an insolvency plea against consumer electronics company BPL Limited. It held that the Insolvency and Bankruptcy Code (IBC) cannot be invoked as an additional or parallel mechanism to recover the balance amount under an arbitral award after a creditor has already pursued execution proceedings.
Case Title : Mehsana Food Tradelinkers Pvt. Ltd. Vs Mehsana Dairy and Food Products Limited
Case Number : C.P.(IB)/99(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 691
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 26 June held that a corporate debtor cannot defeat an insolvency petition by raising contractual disputes that are unsupported by contemporaneous evidence.
NCLT Mumbai Rejects ₹4.43 Cr Section 9 Plea, Holds Pre Existing Dispute Over Part Of Debt Sufficient
Case Title : Lumens Technologies Private Limited Vs. Radhika Opto Electronics Limited
Case Number : C.P. (IB)/780/MB/2025
CITATION : 2026 LLBiz NCLT (MUM) 692
The Mumbai Bench of the National Company Law Tribunal (NCLT) on 30 June held that a pre existing dispute raised before issuance of a demand notice can defeat a Section 9 application under the Insolvency and Bankruptcy Code (IBC), even if the dispute relates only to a part of the operational debt, unless the disputed amount is wholly insignificant.
Case Title : Jet Airways (India) Limited, Through Mr. Satish Kumar Gupta, Liquidator, Jet Airways (India) Limited vs Maharashtra Industrial Development Corporation
Case Number : IA NO. 5460 OF 2025 IN CP (IB) NO. 2205 OF 2019
CITATION : 2026 LLBiz NCLT (MUM) 694
The National Company Law Tribunal (NCLT) in Mumbai on Wednesday set aside the Maharashtra Industrial Development Corporation's (MIDC) cancellation of two plot allotments made to Jet Airways (India) Ltd, holding that the airline's rights under the long-term lease arrangements form part of its liquidation estate. The tribunal directed MIDC to execute the lease agreements with the corporate debtor.
NCLT Mumbai Admits Kishore Biyani-Led Future Consumer Into CIRP Over ₹263.77 Crore Default
Case Title : Resurgent India Special Situations Fund Vs Future Consumer Limited
Case Number : C.P. (IB)/914(MB)2025
CITATION : 2026 LLBiz NCLT (MUM) 695
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.
Case Title : MR. ASHOK KUMAR GOLECHHA
Case Number : I.A. (I.B.C) (Plan) No.41/MB/2025, INVP No.74/2025 & IA 2818/2025 in CP (IB) No.314/MB/2023
CITATION : 2026 LLBiz NCLT (MUM) 697
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.
Case Title : The Canara Bank Limited Vs. Globiz Exim Private Limited
Case Number : C.P. (IB)/595/MB/2025
CITATION : 2026 LLBiz NCLT (MUM) 699
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.
NCLT Ahmedabad Admits Insolvency Plea Against Montecarlo, Rejects 'Pre-Existing Dispute' Defence
Case Title : Vanshita Transport Vs Montecarlo Limited
Case Number : C.P.(IB)/246(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 700
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).
NCLT Bengaluru Issues Notice To Ola Electric Technologies In ₹9.57 Crore Insolvency Plea
Case Title : Seoyon E-Hwa Summit Mobility Krishnagiri Private Limited, Vs Ola Electric Technologies Private Limited
Case Number : CP(IB) No. 149/BB/2026
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
NCLT Mumbai Dismisses Insolvency Plea Against Shapoorji Pallonji
Case Title : Ovaron Infrastructure & MEP Services Vs. Shapoorji Pallonji And Company Private Limited
Case Number : C.P. (IB)/639/MB/2025
CITATION : 2026 LLBiz NCLT (MUM) 702
The National Company Law Tribunal (NCLT) at Mumbai on Friday dismissed Ovaron Infrastructure & MEP Services' insolvency plea against construction major Shapoorji Pallonji and Company Pvt. Ltd. It found that the principal claim of ₹96.18 lakh remained below the Insolvency and Bankruptcy Code's ₹1 crore threshold. The claim crossed the threshold only after adding disputed interest under the Micro, Small, and Medium Enterprises Development (MSMED) Act and GST.
NCLT Kochi Says CoC Cannot Cripple Insolvency Process By Refusing To Fund Essential CIRP Costs
Case Title : CS Narender Reddy Banala v. T.S Jayaprakash
Case Number : IA(IBC)/23/KOB/2025 in CP(IB)/05/KOB/2024
CITATION : 2026 LLBiz NCLT (KOC) 703
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.
NCLT Mumbai Rejects 100 Jet Lite Employees' Bid To Claim Dues In Jet Airways Liquidation
Case Title : Yogen Vaman Vemekar & Ors Versus Mr. Satish Kumar Gupta & Ors
Case Number : IA NO. 5729 OF 2025 IN CP (IB) NO. 2205 OF 2019
CITATION : 2026 LLBiz NCLT (MUM) 704
The Mumbai Bench of the National Company Law Tribunal has dismissed an application filed by 100 former employees of Jet Lite (India) Ltd. seeking to have their employment dues admitted in the liquidation of Jet Airways (India) Ltd.
Liquidator Cannot Take Possession Of Asset Where Ownership Is Seriously Disputed: NCLT Mumbai
Case Title : Birendra Kumar Agrawal Versus Middle East Management Services LLP
Case Number : IA(I.B.C)/1023/MB/2025 IN CP(IB) No. 93 of 2022
CITATION : 2026 LLBiz NCLT (MUM) 705
Case Title : Mr. Kedar Parshuram Mulye vs SRI ADHIKARI BROTHERS DIGITAL NETWORK LIMITED
Case Number : IA(IBC)(Plan)/15/MB/2026 IN CP (IBPP) No. 1 of 2025
CITATION : 2026 LLBiz NCLT (MUM) 706
The Mumbai Bench of the National Company Law Tribunal approved the pre-packaged insolvency resolution plan of SAB Events & Governance Now Media Ltd.
Case Title : M/s Shapos Services Private Limited v. Sri. Mayank Tiwari and Ors
Case Number : IA No. 184 of 2025 in CP(IB) No. 78/BB/2024
CITATION : 2026 LLBiz NCLT (BEN) 708
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 cooperate under the Insolvency and Bankruptcy Code because they were neither personnel of Shapos Services Private Limited nor associated with the company's management.
NCLT Delhi Admits CIRP Plea, Holds Advance Paid For Unsupplied Goods Qualifies As Operational Debt
Case Title : NARINDRA & NARINDRA STEEL CORPORATION Vs SWADESH GREEN INFRA LIMITED
Case Number : IB – 394(ND)/2025
CITATION : 2026 LLBiz NCLT(DEL) 707
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.
NCLT Admits Insolvency Plea Against The Moms Co. Parent Over ₹1.32 Crore Dues
Case Title : Bjain Pharmaceuticals Private Limited Vs AMISHI CONSUMER TECHNOLOGIES PVT LTD
Case Number : C.P (IB)/469/(ND)/2025
CITATION : 2026 LLBiz NCLT(DEL) 709
The Delhi Bench of the National Company Law Tribunal (NCLT) has admitted an insolvency petition filed by Bjain Pharmaceuticals Pvt. Ltd. against Amishi Consumer Technologies Pvt. Ltd., the company behind the personal care brand The Moms Co., which manufactures personal care products over an operational debt of ₹1.32 crore.
Case Title : Indian Overseas Bank Vs Mhow Ghatabill Toll Roads Pvt. Ltd.
Case Number : CP (IB) – 159(ND)/2026
CITATION : 2026 LLBiz NCLT(DEL) 710
The Principal Bench of the National Company Law Tribunal (NCLT), New Delhi, has admitted an insolvency petition filed by Indian Overseas Bank against infra company Mhow Ghatabill Toll Roads Pvt. Ltd. over an alleged default of ₹117.74 crore.
Case Title : Sanjeev Mahajan Vs Nimitaya Hotel Resorts Ltd.
Case Number : TA (IBC)-28(PB)/2026
CITATION : 2026 LLBiz NCLT(DEL) 711
The Principal Bench of the National Company Law Tribunal (NCLT), New Delhi, has dismissed a transfer application filed by the ex-promoter of Nimitaya Hotel Resorts Ltd. seeking to move the company's insolvency proceedings from the Special Bench to another bench. The tribunal imposed costs of ₹50,000 after finding that the applicant had concealed material facts.
CIRP Not Maintainable Against Company Struck Off From Register: NCLT Mumbai
Case Title : Adamji Investments Private Limited V/s M Cons Media Marketing Private Limited
Case Number : C.P. (IB)/159(MB)2025
CITATION : 2026 LLBiz NCLT (MUM) 713
The Mumbai Bench of the National Company Law Tribunal (NCLT) has reiterated that a Corporate Insolvency Resolution Process (CIRP) cannot be initiated against a company whose name has already been struck off from the register of companies. It observed that once the company's certificate of incorporation is cancelled, it no longer remains a "corporate person" under the Insolvency and Bankruptcy Code.
NCLT Records Highest-Ever First-Quarter Performance Under IBC, Approves 78 Resolution Plans
The National Company Law Tribunals (NCLT) across the country have recorded their highest-ever first-quarter performance under the Insolvency and Bankruptcy Code (IBC), approving 78 resolution plans between April and June 2026, according to a performance report issued by its Registrar on July 13, 2026. The 78 resolution plans, involving an aggregate approved value of ₹5,517.66 crore, surpassed the previous first-quarter high of 73 approvals recorded during April-June 2024.
During the corresponding quarter, the tribunal had approved none in 2017, 13 in 2018, 26 in 2019, 19 in 2020, 35 in 2021, 42 in 2022, 45 in 2023, 73 in 2024, and 58 in 2025.
NCLT Mumbai Rejects Resolution Professional's Two Fraudulent Transaction Pleas In RCIL Insolvency
Case Title : Anish Niranjan Nanavaty (Resolution Professional of Reliance Communications Infrastructure Limited) V/s Netizen Engineering Pvt. Ltd.
Case Number : IA (COMPANIES.ACT)/770 (MB) 2021 IN CP/3025 (MB) 2019
CITATION : 2026 LLBiz NCLT (MUM) 715
The Mumbai bench of the National Company Law Tribunal has dismissed two applications filed by the Resolution Professional of Reliance Communications Infrastructure Ltd (RCIL), which alleged fraudulent transactions involving Netizen Engineering Pvt Ltd (NEPL) and RCIL's wholly owned subsidiary, Worldtel Tamil Nadu Pvt Ltd (WTPL). The tribunal found that the transactions did not increase the corporate debtor's liabilities.
Case Title : Hinganghat Infrastructure Private Limited Vs. Mr. Jagdish Kumar
Case Number : I.A. No.3289 of 2024 In C.P (IB) No. 3402 of 2019
CITATION : 2026 LLBiz NCLT (MUM) 716
The Mumbai bench of the National Company Law Tribunal has dismissed an application filed by Hinganghat Infrastructure Pvt Ltd seeking a direction to the Resolution Professional and the Committee of Creditors (CoC) of Deegee Orchards Pvt Ltd to refund its ₹5 lakh Participation Money Deposit (PMD) and ₹25 lakh Earnest Money Deposit (EMD). The tribunal held that the company's failure to disclose its relationship and arrangement with the former management of the corporate debtor amounted to a fraudulent practice under the Request for Resolution Plan (RFRP).
NCLT Delhi Questions Indian Bank's Belated RP Removal Bid, Cites Lack Of Basis For 'Loss Of Trust'
Case Title : Indian Bank Vs Nimitiya Hotel and Resorts Limited
Case Number : IA-1222/2026 in (IB)-1913(ND)2019
CITATION : 2026 LLBiz NCLT(DEL) 717
The New Delhi National Company Law Tribunal (NCLT) on 7 July questioned Indian Bank's attempt to replace the Resolution Professional (RP) of Nimitiya Hotel and Resorts Limited more than two and a half years after approving the resolution plan, observing that the bank failed to provide any factual basis beyond citing “loss of trust”. Judicial Member Jyotsna Sharma and Technical Member Reena Sinha Puri directed that copies of its orders dated 20 March 2026, 15 April 2026, and 20 May 2026 be forwarded to the Chairman of Indian Bank for examination and necessary action.
NCLT Delhi Admits CIRP Against Regal Enterprises, Rejects Solvency Claim Without Evidence
Case Title : Akkme Food Craft Limited Vs Regal Enterprises Limited
Case Number : IA-2409/2026 & IB NO.181(PB)/2026
CITATION : 2026 LLBiz NCLT(DEL) 719
The New Delhi National Company Law Tribunal (NCLT) on 9 July admitted a Corporate Insolvency Resolution Process (CIRP) petition against Regal Enterprises Limited, holding that a financial creditor only needs to establish the existence of debt and default under Section 7 of the Insolvency and Bankruptcy Code (IBC).
Case Title : PASHUPATI FACILITY AND MANAGEMENT SERVICE PRIVATE LIMITED Vs PRODOT MEDIA PRIVATE LIMITED
Case Number : CP (IB) 127 (ND) 2025
CITATION : 2026 LLBiz NCLT(DEL) 718
The New Delhi Bench of the National Company Law Tribunal (NCLT) on 1 July held that a corporate guarantor's co-extensive liability is not extinguished merely because a Financial Creditor's claim has been partially admitted under the resolution plan of the principal borrower. Judicial Member Mahendra Khandelwal and Technical Member Atul Chaturvedi admitted an insolvency petition filed by Pashupati Facility and Management Service Pvt. Ltd. against Prodot Media Pvt. Ltd., in its capacity as a corporate guarantor for the loan default of Teriyaki Builders Pvt. Ltd.
NCLT Mumbai Dissolves BSE Institute of Research Development & Innovation After Voluntary Liquidation
Case Title : BSE Institute of Research Development & Innovation Private Limited
Case Number : CP (IB) No. 666/MB-IV/2025
CITATION : 2026 LLBiz NCLT (MUM) 720
The National Company Law Tribunal (NCLT) in Mumbai on Thursday ordered the dissolution of BSE Institute of Research Development & Innovation Private Limited after finding that its voluntary liquidation had been completed in accordance with law and that the company's affairs had been completely wound up.
NCLT Mumbai Dismisses Insolvency Plea Against Ganesh Benzoplast Over Disputed Corporate Guarantee
Case Title : UC Inclusive Credit Private Limited Vs. Ganesh Benzoplast Limited
Case Number : C.P.(IB)/1388(MB)2025
CITATION : 2026 LLBiz NCLT (MUM) 721
The National Company Law Tribunal (NCLT) in Mumbai has dismissed an insolvency plea filed by UC Inclusive Credit Pvt. Ltd. against Ganesh Benzoplast Ltd. It held that the application could not be admitted because the corporate guarantee relied upon by the lender is under challenge in multiple civil and criminal proceedings involving allegations of fraud and forgery.
A coram comprising Judicial Member Sushil Mahadeorao Kochey and Technical Member Sameer Kakar dismissed the plea seeking initiation of the corporate insolvency resolution process over an alleged default of about ₹6.25 crore.
Case Title : DCB Bank Ltd Vs Kalka Home Developers Pvt. Ltd
Case Number : IB-496/ND/2023 IA-32/ND/2025, IA-3749/ND/2025, IA-5128/ND/2025
CITATION : 2026 LLBiz NCLT(DEL) 722
The New Delhi Bench of the National Company Law Tribunal (NCLT) on 3 July held that a resolution plan cannot provide an operational creditor, including the government, an amount lower than the liquidation value payable to it under the Insolvency and Bankruptcy Code, 2016 (IBC). Judicial Member Ashok Kumar Bhardwaj and Technical Member Atul Chaturvedi rejected the plan submitted for Kalka Home Developers Pvt. Ltd., observing that the plan failed to comply with Section 30(2)(b) of the IBC, which requires operational creditors to receive at least the amount they would have received in liquidation
Case Title : Canara Bank v. KGOC Terminals Private Limited
Case Number : RCP (IBC)/1/7/AMR/2026 (Old Case CP (IB)/16/7/AMR/2023)
CITATION : 2026 LLBiz NCLT(AMR) 724
The National Company Law Tribunal (NCLT), Amaravati Bench, has admitted Canara Bank's insolvency plea against KGOC Terminals Private Limited. It held that the company could not rely on the COVID-19 suspension on insolvency filings because it had already defaulted on its loan repayments before that period began. The later classification of the loan account as a non-performing asset (NPA) did not change that position.
NCLT Kochi Recalls Oral Order Minutes After Pronouncement Over Undisclosed Facts
Case Title : CA Rajmohan R(RP) in the matter of M/s Air Travel Enterprises India Ltd
Case Number : IA(IBC)/313/KOB/2026 in CP(IBC)/33/KOB/2023
CITATION : 2026 LLBiz NCLT(KOC) 725
The National Company Law Tribunal (NCLT) at Kochi recently recalled its oral order allowing withdrawal of the corporate insolvency resolution process (CIRP) against Air Travel Enterprises India Limited. The tribunal did so within five minutes of pronouncing the order, after the Resolution Professional (RP) brought to its notice material facts regarding the Committee of Creditors (CoC) that had not been disclosed earlier.
NCLT Ahmedabad Directs Moeving To Return 124 EVs Owned By Gensol EV Lease During Insolvency Process
Case Title : Keshav Khaneja RP of Gensol EV Lease Limited Vs Moeving Urban TechnologiesPvt. Ltd
Case Number : IA/I181(AHM)2026 In C.P.(IB)/199(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 728
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 10 July held that vehicles owned by a Corporate Debtor cannot be retained by a third party merely because they were handed over under a contractual arrangement. A Bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma partly allowed the application filed by the Resolution Professional (RP) of Gensol EV Lease Limited and directed Moeving Urban Technologies Pvt. Ltd. to return 124 electric vehicles, along with registration certificates, insurance documents, permits, keys, chargers and accessories, within 15 days.
NCLT Delhi Orders Dissolution of Cross-Border Payments Company Paysend India
Case Title : PAYSEND INDIA PRIVATE LIMITED
Case Number : CP (IB) No. 296/ND/2025
CITATION : 2026 LLBiz NCLT(DEL) 729
The Delhi Bench of the National Company Law Tribunal (NCLT) has ordered the dissolution of cross-border payments company Paysend India Private Limited after finding that its affairs had been completely wound up and its assets fully liquidated The order was passed by the bench of Acting President Bachu Venkat Balaram Das and Technical Member Yogendra Kumar Singh. Paysend India Private Limited was incorporated on July 25, 2022 as a private limited company with its registered office at Nehru Place, South Delhi. The company operated in money transfers, remittances, merchant acquiring, prepaid payment instruments, and multi‑currency digital wallets.
Case Title : D Manuel Anand
Case Number : CP(IBC)/199(CHE)2025
CITATION : 2026 LLBiz NCLT(CHE) 730
The National Company Law Tribunal (NCLT) at Chennai has held that a personal guarantor's withdrawal of an earlier insolvency application after securing a One Time Settlement (OTS) for one loan account does not, by itself, bar the filing of a fresh insolvency application in respect of continuing liabilities. A coram of Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy was considering a petition filed by D. Manuel Anand, a personal guarantor to Servo Craft HR Solutions Private Limited, under Section 94(1) of the IBC seeking initiation of the insolvency resolution process against himself.
Case Title : Swapnil Jain, Resolution Professional of Bengal EMTA Coal Mines Limited v. Bengal EMTA Coal Mines Limited
Case Number : IA (IBC) No. 602/KB/2023 in CP (IB) No. 1699/KB/2018)
CITATION : 2026 LLBiz NCLT(KOL) 731
The Kolkata Bench of the National Company Law Tribunal (NCLT) has recently refused to approve the resolution plan submitted by successful resolution applicant Sarika Maiwall for Bengal EMTA Coal Mines Limited. It found that the plan proposed a payout of just ₹86 lakh against admitted claims of nearly ₹299 crore and appeared to extinguish substantial statutory liabilities despite pending proceedings before the Supreme Court.
NCLT Kochi Dismisses Union Bank's Plea To Withdraw CIRP, Says Section 12A Procedure Is Mandatory
Case Title : Union Bank of India v. M/s Air Travel Enterprises India Ltd
Case Number : IA(IBC)/313/KOB/2026 in CP(IB)/33/KOB/2023
CITATION : 2026 LLBiz NCLT(KOC) 736
On Tuesday, 21 July, the Kochi Bench of the National Company Law Tribunal (NCLT) held that once a corporate insolvency resolution process (CIRP) is admitted, it cannot be withdrawn merely on the basis of a bilateral settlement between the financial creditor and the corporate debtor without following the statutory procedure under the Insolvency and Bankruptcy Code (IBC). A Bench of Judicial Member Vinay Goel and Technical Member Ravichandran Ramasamy dismissed Union Bank of India's application seeking withdrawal of the CIRP against Air Travel Enterprises India Limited and imposed costs of Rs. 1 lakh on the Bank.
Rights Of Creditor In CIRP Are Determined By The IBC, Not The Quantum Of Claim: NCLT Chandigarh
Case Title : Rajeev Bhambri Vs Mohit Chawla
Case Number : I.A.(I.B.C)/1221(CH)2025 In CP (IB) No. 248/Chd/Chd/2019
CITATION : 2026 LLBiz NCLT(CHA) 737
The Chandigarh National Company Law Tribunal (NCLT) on 10 July held that a creditor cannot seek disclosure of a resolution plan pending approval merely because it has a substantial claim. The Insolvency and Bankruptcy Code, 2016 (IBC) determines a creditor's rights in a Corporate Insolvency Resolution Process (CIRP), and not the quantum of its dues. A Bench of Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal dismissed the application filed by Resolution Professional (RP) Rajeev Bhambri seeking disclosure of the resolution plan of Chandigarh Overseas Private Limited, holding that Bhambri, classified as an “Other Creditor – Related Party”, could not claim access to the plan under the IBC.
NCLT Indore Holds Resolution Professional Cannot Revive Lease Terminated By CoC
Case Title : Kuldeep Tank Vs Vatsal Acharya
Case Number : IA/111(MP)2026 in CP(IB)/16(MP)2024
CITATION : 2026 LLBiz NCLT(IND) 738
The Indore Bench of the National Company Law Tribunal (NCLT) on 7 July held that an unregistered lease deed cannot create valid rights over the Corporate Debtor's property and that a Resolution Professional (RP) cannot revive a lease arrangement that the Committee of Creditors (CoC) has already decided to terminate. The Bench of Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta directed Vatsal Acharya to vacate the factory premises of Shree Uttam Food Products, holding that he occupied the premises without valid authority.
NCLT Kochi Holds Kerala Trade Centre Project; Developmental Rights Form Part Of KCCI's CIRP Assets
Case Title : Jossy Steephen Kattur v. Cherupushpam Films Private Limited and Ors
Case Number : IA(IBC)/142/KOB/2026 in CP(IB)/33/KOB/2021
CITATION : 2026 LLBiz NCLT (KOC) 740
The National Company Law Tribunal (NCLT), Kochi, has held that the Kerala Trade Centre project and the development and allied rights vested in Kerala Chamber of Commerce and Industries (KCCI) under a Joint Development Agreement (JDA) form part of the company's asset base during its Corporate Insolvency Resolution Process (CIRP). It also directed the landowner, Cherupushpam Films Private Limited, to cooperate in implementing the resolution plan.
Case Title : ROBIN DAHIYA Vs ABHIMANYU MITTAL
Case Number : IA 39 of 2026 In CP(IB) No. 125/Chd/Hry/2021
CITATION : 2026 LLBiz NCLT(CHA) 741
The Chandigarh Bench of the National Company Law Tribunal (NCLT) on 1 July held that a suspended director has the locus to bring alleged violations of the Insolvency and Bankruptcy Code, 2016 (IBC) and the Corporate Insolvency Resolution Process (CIRP) Regulations before the NCLT, but cannot question the commercial wisdom of the Committee of Creditors (CoC). A Bench comprising Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal dismissed an application filed by Robin Dahiya, suspended director of Hygiene Feeds & Farms Pvt. Ltd., seeking rejection of the Resolution Plan approved by the CoC, after finding no statutory violations or procedural irregularities.
NCLT Chandigarh Rejects Department's ₹975.56 Cr Claim Filed 1305 Days Late In Gupta Builders CIRP
Case Title : Dy Commissioner of Income Tax Vs Mukesh Gupta
Case Number : IA(IBC) No. 97/2026 In CP (IB) No. 237/Chd/Chd/2021
CITATION : 2026 LLBiz NCLT(CHA) 745
The Chandigarh National Company Law Tribunal (NCLT) on 10 July held that the Income Tax Department cannot seek condonation of an extraordinary delay to introduce claims after approval of a Resolution Plan, as such belated claims would disturb the finality of the Corporate Insolvency Resolution Process (CIRP). A Bench comprising Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal dismissed the application filed by the Deputy Commissioner of Income Tax seeking condonation of a 1305-day delay in filing claims worth Rs. 975.56 crore against Gupta Builders and Promoters Pvt. Ltd.
NCLT Mumbai Dispenses With JSW Steel Unsecured Creditors' Meeting In Piombino Steel Merger
Case Title : Piombino Steel Limited and JSW Steel Limited
Case Number : 02nd July 2026.
CITATION : 2026 LLBiz NCLT (MUM) 747
The National Company Law Tribunal (NCLT), Mumbai, has recently dispensed with the meeting of unsecured creditors of JSW Steel Limited in its proposed amalgamation with its subsidiary, Piombino Steel Limited. It, however, directed the company to issue notices to unsecured creditors with outstanding balances exceeding ₹50 lakh, informing them that they may file objections before the Tribunal within 30 days.
NCLT Chandigarh Upholds Rejection Of ARCIL's ₹3,482 Crore Claim Against JCT Limited As Time-Barred
Case Title : Asset Reconstruction Company (India) Limited Vs Umesh Garg & CoC
Case Number : I.A. No.83 of 2026 In CP(IB) No. 325/Chd/Pb/2023
CITATION : 2026 LLBiz NCLT(CHA) 748
The National Company Law Tribunal (NCLT) in Chandigarh has recently refused to admit Asset Reconstruction Company (India) Limited's claim of ₹3,482 crore in the insolvency process of JCT Limited. Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal ruled the debt was time‑barred. “The claim, even if computed from the original invocation in January 2002 or the subsequent default in April 2011, is barred by limitation,” the bench said.
Case Title : Sai Educare Private Limited v. Vensysco Technologies Limited
Case Number : IA No. 108/JPR/2026
CITATION : 2026 LLBiz NCLT(JAI) 749
The National Company Law Tribunal (NCLT) at Jaipur has held that alleged defects in the certified copy of a Board Resolution, including objections that it did not disclose the date of the Board meeting or carried mechanically reproduced signatures, do not invalidate an insolvency application where the Operational Creditor has, in substance, authorized the initiation of proceedings. A coram of Judicial Member Reeta Kohli and Technical Member Kavita Bhatnagar was considering an interlocutory application filed by Sai Educare Private Limited, the corporate debtor, seeking rejection of the Section 9 petition filed by Vensysco Technologies Limited.
IRP, RP Cannot Authorise Recovery Barred By IBC Moratorium: NCLT Indore
Case Title : Prawincharan Prafulcharan Dwary Vs Bank of India
Case Number : IA/42(MP) 2021 in TP 162 of 2019 [CP(IB) 18 of 2017
CITATION : 2026 LLBiz NCLT(IND) 750
The Indore bench of the National Company Law Tribunal (NCLT) has recently held that Bank of India violated the IBC moratorium by appropriating ₹16.49 crore from a company's cash credit account during its Corporate Insolvency Resolution Process (CIRP). The amount was used to discharge letters of credit (LCs) issued before the insolvency commencement date. Holding that the bank had recovered its own pre-CIRP dues during the moratorium, the tribunal directed it to reverse the appropriation. It was also directed to credit the amount to the corporate debtor's account within four weeks.
NCLT Delhi Rejects APS Infra Resolution Plan, Says Resolution Applicant Can't Retain PUFE Recoveries
Case Title : Praveen Kumar Garg Vs APS Infra Engineers Private Limited
Case Number : I.A. No. 65/ND/2025 IN CP(IB)-556/ND/2023
CITATION : 2026 LLBiz NCLT(DEL) 751
The Delhi bench of the National Company Law Tribunal (NCLT) has held that a resolution plan allowing the Successful Resolution Applicant (SRA) to retain recoveries from avoidance (PUFE) transactions is contrary to the CIRP Regulations. Rejecting the resolution plan submitted by SPG Infra Projects Pvt. Ltd. for APS Infra Engineers Pvt. Ltd., the bench ordered the company's liquidation. "When we talk of distribution, the understanding would be that the same should be distributed amongst the creditors.
Could the intention of Regulation be that the proceeds could be retained by the SRA, there could be such provision in the Regulation or the Regulation could say that the Plan will provide that how the proceed would be dealt with," the court observed while interpreting Regulation 38(2)(d) of the CIRP Regulations.
Impleadment Plea Can't Be Rejected Because Locus Standi Was Challenged Before It: NCLT Bengaluru
Case Title : Manyta Infrastructure Developments Pvt. Ltd v. Bouyant Technology Constellations Pvt. Ltd.
Case Number : CA No. 37/2026 in CP (IB) No. 121/BB//2025
CITATION : 2026 LLBiz NCLT (BEN) 756
The National Company Law Tribunal (NCLT), Bengaluru Bench, has held that an impleadment application cannot be rejected merely because it was filed after an objection to the petitioner's locus standi. "The scope of consideration in an application under Order I Rule 10(2) CPC is not confined to examining whether a party strengthens the case of the Applicant but for the tribunal to assess whether the presence of such party is necessary for complete, effective and final adjudication of the issues/controversy involved in the proceedings," the tribunal held.
NCLT Ahmedabad Dismisses Jindal's Insolvency Plea Against Kunal Structure For Failing IBC Threshold
Case Title : Jindal (India) Limited Vs Kunal Structure (India) Private Limited
Case Number : CP(IB)/14(AHM)2023
CITATION : 2026 LLBiz NCLT (AHM) 753
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 17 July dismissed the insolvency application filed by Jindal (India) Limited against Kunal Structure (India) Private Limited, holding that disputes regarding short-weight and LC charges reduced the undisputed claim below the statutory threshold of 1 crore.
Case Title : Elite Design Private Limited Vs Colorbar Cosmetics Private Limited
Case Number : CP (IB)-228/ND/2026
CITATION : 2026 LLBiz NCLT(DEL) 754
The New Delhi National Company Law Tribunal (NCLT) on 21 July held that an insolvency petition cannot be admitted when the Corporate Debtor establishes a genuine pre-existing dispute supported by substantial material. A Bench comprising Judicial Member Ashok Kumar Bhardwaj and Technical Member Banwari Lal Meena dismissed the insolvency petition filed by Elite Design Private Limited against Colorbar Cosmetics Private Limited, holding that the dispute raised by the latter was not a sham defence.
Separate Corporate Debtors' Defaults Cannot Be Combined To Meet ₹1 Crore IBC Threshold: NCLT Mumbai
Case Title : Mr R Srikant Ayyer Vs Neogreen Agriculture Llp
Case Number : C.P.(IB)/654(MB)2026
CITATION : 2026 LLBiz NCLT (MUM) 759
The Mumbai National Company Law Tribunal (NCLT) on 7 July held that a financial creditor cannot aggregate defaults owed by different corporate debtors to meet the minimum default threshold under Section 4 of the Insolvency and Bankruptcy Code, 2016 (IBC), even if the entities belong to the same corporate group. A Bench of Judicial Member Nilesh Sharma and Technical Member Sameer Kakar dismissed an insolvency application filed by Mr. R. Srikant Ayyer against Neogreen Agriculture LLP after finding that the default attributable to the respondent was below the statutory threshold of Rs. 1 crore.
Case Title : Jaykishan R Rathi Vs Ashok Kumar Baid & Ors
Case Number : IA No. 281 of 2023 In CP (IB) No. 6/NCLT/AHM/2021
CITATION : 2026 LLBiz NCLT (AHM) 757
The Ahmedabad National Company Law Tribunal (NCLT) on 13 July held that a consortium lender cannot unilaterally release a mortgaged property under a One Time Settlement (OTS) if such release prejudices the pari passu security interest of another secured creditor. A Bench comprising Judicial Member Chitra Hankare and Technical Member Dr. V.G. Venkata Chalapathy allowed the application and directed the suspended management of Baid Industries to restore Rs. 5,14,24,288 along with 12% simple interest to the liquidator.
Forensic Audit Report Alone Cannot Prove Fraudulent Trading Under IBC Section 66: NCLT Ahmedabad
Case Title : Shri Ramchandra Dallaram Choudhary Vs Gulabchand Jain & Anr.
Case Number : IA/505(AHM)2021 in CP(IB) 342 of 2018
CITATION : 2026 LLBiz NCLT (AHM) 758
The Ahmedabad National Company Law Tribunal (NCLT) on 13 July held that a forensic audit report cannot, by itself, establish fraudulent trading under Section 66 of the Insolvency and Bankruptcy Code, 2016 (IBC), unless the Resolution Professional independently examines the transactions and forms the statutory opinion required under Regulation 35A of the CIRP Regulations. A Bench of Judicial Member Chitra Hankare and Technical Member Dr VG Venkata Chalapathy rejected the liquidator's application against former directors of Vijay Timber Industries Pvt Ltd, holding that the Resolution Professional had failed to independently determine whether the transactions amounted to fraudulent trading.
NCLT Chennai Admits Insolvency Plea Against Pradhin Limited Over ₹12.98 Crore Default
Case Title : Tatad Nayan Gautambhai v. Pradhin Limited
Case Number : CP(IBC)/39(CHE)/2026
CITATION : 2026 LLBiz NCLT(CHE) 762
The National Company Law Tribunal (NCLT) at Chennai has admitted an insolvency petition against Pradhin Limited after finding that the financial creditor had established the existence of a financial debt and default of ₹12.98 crore. The shares of Pradhin Limited are listed on Bombay Stock Exchange Limited. The tribunal initiated the Corporate Insolvency Resolution Process against the company and appointed Rajesh Jasti as the interim resolution professional.
NCLT Ahmedabad Rejects Machino Polymers' Plea To Revise Claim In Sintex-BAPL Ltd Insolvency Case
Case Title : Machino Polymers Limited Vs Ashish Chhhawchharia
Case Number : IA/42(AHM)2026 in CP(IB) 759 of 2019
CITATION : 2026 LLBiz NCLT (AHM) 763
The Ahmedabad National Company Law Tribunal (NCLT) on 2 July held that an approved Resolution Plan cannot be modified to revise admitted claims after the conclusion of the Corporate Insolvency Resolution Process (CIRP), as it attains finality and binds all stakeholders. A Bench comprising Judicial Member Shammi Khan and Technical Member Sanjeev Sharma dismissed an application filed by Machino Polymers Limited seeking revision of its admitted claim against Sintex-BAPL Ltd., holding that no direction could be issued to the Resolution Professional to alter admitted claims or records after approval of the Resolution Plan.
NCLT Ahmedabad Rejects Insolvency Plea Against Manpasand Beverages Over Time-Barred ₹34.40 Cr Claim
Case Title : Do Well Moulds Vs Manpasand Beverages Ltd
Case Number : CP(IB) 764 of 2019
CITATION : 2026 LLBiz NCLT (AHM) 765
The Ahmedabad National Company Law Tribunal (NCLT) on 14 July dismissed the insolvency application filed by Do Well Moulds against Manpasand Beverages Ltd., holding that the claim was time-barred and involved pre-existing disputes regarding the genuineness of the transactions. A Bench comprising Judicial Member Chitra Hankare and Technical Member Dr. VG Venkata Chalapathy noted that an insolvency application cannot be admitted where the claim is barred by limitation, disputed prior to the demand notice, and arises from transactions allegedly linked to fraudulent circular trading.
Subsequent Shareholding Changes Cannot Retrospectively Cleanse Related-Party Status: NCLT Chandigarh
Case Title : Mona Portfolio Ltd. Vs Mohit Chawla
Case Number : I.A.(I.B.C)/1082(CH)2025 in CP (IB) No. 248/Chd/Chd/2019
CITATION : 2026 LLBiz NCLT(CHA) 766
The Chandigarh bench of the National Company Law Tribunal (NCLT) has recently ruled that a subsequent change in shareholding or directorship cannot retrospectively erase a company's related-party status for transactions entered into earlier. Dismissing an application filed by Mona Portfolio Ltd., the court held that the company had failed to establish that its claim against Chandigarh Overseas Pvt. Ltd. was a financial debt.
One Workman Cannot Represent Others In IBC Proceedings Without Authorisation: NCLT Kochi
Case Title : Devassykutty C.R and Ors v. Mr. Kizhakkekara Kuriakose Jose and Anr
Case Number : IA(IBC)/122/KOB/2026 in CP(IB)/29/KOB/2022
CITATION : 2026 LLBiz NCLT(KOC) 767
The National Company Law Tribunal (NCLT), Kochi has held that an application filed in the names of multiple workmen cannot be maintained on behalf of those who did not authorise the sole signatory to represent them. “….in the absence of any specific authorisation, authority, or power of attorney in favour of the signatory, the other applicants would not be bound by any action taken by the signatory. Since they may rely on the acts done by the signatory, which would not be binding upon them, it would not be appropriate for this Adjudicating Authority to permit the signatory to continue with this IA on behalf of the other applicants.” the tribunal ruled
Merits Of Oppression Plea Not To Be Examined While Deciding Waiver Application: NCLT Mumbai
Case Title : Devaunshi Mehta nee Thackersey Versus Bhishma Realty Ltd. & Ors.
Case Number : IA (Companies Act) No. 62 (MB) 2026 In Company Petition No. 28 of 2026
CITATION : 2026 LLBiz NCLT (MUM) 769
The Mumbai National Company Law Tribunal (NCLT) has held that while considering an application seeking waiver of eligibility requirements under the proviso to Section 244(1) of the Companies Act, 2013 (which prescribes the minimum shareholding threshold to file oppression and mismanagement petitions), the Tribunal need not examine the merits of the proposed petition. A Bench comprising Technical Member Prabhat Kumar and Judicial Member Sushil Mahadeorao Kochey was hearing an application filed by Devaunshi Mehta, a shareholder holding approximately 4.65% of the paid-up share capital of Bhishma Realty Ltd., seeking waiver of the requirement to maintain a petition under Sections 241 and 242 of the Companies Act, 2013 (provisions dealing with oppression and mismanagement of a company's affairs).
Case Title : Mangaldas Finance Vs Milano Papers Private Limited
Case Number : C.P.(IB)/38(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 770
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has held that a money lender who advances funds only to help a corporate debtor clear an existing bank loan cannot, in the facts of the case, claim the status of a financial creditor under the Insolvency and Bankruptcy Code (IBC). It rejected a Section 7 insolvency plea filed by Gujarat-based Mangaldas Finance seeking initiation of the corporate insolvency resolution process against Milano Papers Pvt. Ltd.
Case Title : LIS STUDYLINK INDIA PVT. LTD.
Case Number : (IB)-467/ND/2025
CITATION : 2026 LLBiz NCLT(DEL) 771
The New Delhi National Company Law Tribunal (NCLT) on 15 July ordered the dissolution of Lis Studylink India Pvt. Ltd. under Section 59 of the Insolvency and Bankruptcy Code, 2016 (IBC), holding that the company's voluntary liquidation process had been completed and no liabilities remained unsatisfied.
NCLT Kochi Allows Second CIRP After Settlement Breach Where Settlement Preserved Creditor's Right
Case Title : Raychem RPG Pvt Ltd v. Soura Natural Energy Solutions India Pvt Ltd
Case Number : CP(IBC)/17/KOB/2026
CITATION : 2026 LLBiz NCLT(KOC) 773
The National Company Law Tribunal (NCLT) at Kochi has recently admitted an insolvency petition against Soura Natural Energy Solutions India Private Limited, holding that an operational creditor is entitled to initiate fresh insolvency proceedings upon breach of a settlement where the settlement itself expressly preserves such a right. A coram of Judicial Member Vinay Goel and Technical Member Ravichandran Ramasamy was considering a petition filed by Raychem RPG Private Limited seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Soura Natural Energy Solutions over an alleged operational debt of ₹4.22 crore arising from the supply of solar panels, solar inverters and other goods.
NCLT Ahmedabad Approves ₹2,775 Crore Inox Neo-Authum Resolution Plan For Wind World India
Case Title : Ravi Sethia Vs Consortium of Inox Neo Energies Limited (Lead Member) and Authum Investment and Infrastructure Limited
Case Number : IA(Plan)/10(AHM)2026 In CP{(IB) 14 of 2018
CITATION : 2026 LLBiz NCLT (AHM) 774
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has approved the ₹2,775 crore resolution plan submitted by the consortium of Inox Neo Energies Limited and Authum Investment & Infrastructure Limited for Wind World (India) Limited. It held that there was no ground to interfere with the commercial wisdom of the Committee of Creditors (CoC).
Impleadment Plea Can't Be Rejected Because Locus Standi Was Challenged Before It: NCLT Bengaluru
Case Title : Manyta Infrastructure Developments Pvt. Ltd v. Bouyant Technology Constellations Pvt. Ltd.
Case Number : CA No. 37/2026 in CP (IB) No. 121/BB//2025
CITATION : 2026 LLBiz NCLT (BEN) 756
The National Company Law Tribunal (NCLT), Bengaluru Bench, has held that an impleadment application cannot be rejected merely because it was filed after an objection to the petitioner's locus standi. "The scope of consideration in an application under Order I Rule 10(2) CPC is not confined to examining whether a party strengthens the case of the Applicant but for the tribunal to assess whether the presence of such party is necessary for complete, effective and final adjudication of the issues/controversy involved in the proceedings," the tribunal held.
NCLT Ahmedabad Dismisses Jindal's Insolvency Plea Against Kunal Structure For Failing IBC Threshold
Case Title : Jindal (India) Limited Vs Kunal Structure (India) Private Limited
Case Number : CP(IB)/14(AHM)2023
CITATION : 2026 LLBiz NCLT (AHM) 753
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 17 July dismissed the insolvency application filed by Jindal (India) Limited against Kunal Structure (India) Private Limited, holding that disputes regarding short-weight and LC charges reduced the undisputed claim below the statutory threshold of 1 crore.
Case Title : Elite Design Private Limited Vs Colorbar Cosmetics Private Limited
Case Number : CP (IB)-228/ND/2026
CITATION : 2026 LLBiz NCLT(DEL) 754
The New Delhi National Company Law Tribunal (NCLT) on 21 July held that an insolvency petition cannot be admitted when the Corporate Debtor establishes a genuine pre-existing dispute supported by substantial material. A Bench comprising Judicial Member Ashok Kumar Bhardwaj and Technical Member Banwari Lal Meena dismissed the insolvency petition filed by Elite Design Private Limited against Colorbar Cosmetics Private Limited, holding that the dispute raised by the latter was not a sham defence.
Separate Corporate Debtors' Defaults Cannot Be Combined To Meet ₹1 Crore IBC Threshold: NCLT Mumbai
Case Title : Mr R Srikant Ayyer Vs Neogreen Agriculture Llp
Case Number : C.P.(IB)/654(MB)2026
CITATION : 2026 LLBiz NCLT (MUM) 759
The Mumbai National Company Law Tribunal (NCLT) on 7 July held that a financial creditor cannot aggregate defaults owed by different corporate debtors to meet the minimum default threshold under Section 4 of the Insolvency and Bankruptcy Code, 2016 (IBC), even if the entities belong to the same corporate group. A Bench of Judicial Member Nilesh Sharma and Technical Member Sameer Kakar dismissed an insolvency application filed by Mr. R. Srikant Ayyer against Neogreen Agriculture LLP after finding that the default attributable to the respondent was below the statutory threshold of Rs. 1 crore.
Case Title : Jaykishan R Rathi Vs Ashok Kumar Baid & Ors
Case Number : IA No. 281 of 2023 In CP (IB) No. 6/NCLT/AHM/2021
CITATION : 2026 LLBiz NCLT (AHM) 757
The Ahmedabad National Company Law Tribunal (NCLT) on 13 July held that a consortium lender cannot unilaterally release a mortgaged property under a One Time Settlement (OTS) if such release prejudices the pari passu security interest of another secured creditor. A Bench comprising Judicial Member Chitra Hankare and Technical Member Dr. V.G. Venkata Chalapathy allowed the application and directed the suspended management of Baid Industries to restore Rs. 5,14,24,288 along with 12% simple interest to the liquidator.
Forensic Audit Report Alone Cannot Prove Fraudulent Trading Under IBC Section 66: NCLT Ahmedabad
Case Title : Shri Ramchandra Dallaram Choudhary Vs Gulabchand Jain & Anr.
Case Number : IA/505(AHM)2021 in CP(IB) 342 of 2018
CITATION : 2026 LLBiz NCLT (AHM) 758
The Ahmedabad National Company Law Tribunal (NCLT) on 13 July held that a forensic audit report cannot, by itself, establish fraudulent trading under Section 66 of the Insolvency and Bankruptcy Code, 2016 (IBC), unless the Resolution Professional independently examines the transactions and forms the statutory opinion required under Regulation 35A of the CIRP Regulations. A Bench of Judicial Member Chitra Hankare and Technical Member Dr VG Venkata Chalapathy rejected the liquidator's application against former directors of Vijay Timber Industries Pvt Ltd, holding that the Resolution Professional had failed to independently determine whether the transactions amounted to fraudulent trading.
NCLT Chennai Admits Insolvency Plea Against Pradhin Limited Over ₹12.98 Crore Default
Case Title : Tatad Nayan Gautambhai v. Pradhin Limited
Case Number : CP(IBC)/39(CHE)/2026
CITATION : 2026 LLBiz NCLT(CHE) 762
The National Company Law Tribunal (NCLT) at Chennai has admitted an insolvency petition against Pradhin Limited after finding that the financial creditor had established the existence of a financial debt and default of ₹12.98 crore. The shares of Pradhin Limited are listed on Bombay Stock Exchange Limited. The tribunal initiated the Corporate Insolvency Resolution Process against the company and appointed Rajesh Jasti as the interim resolution professional.
NCLT Ahmedabad Rejects Machino Polymers' Plea To Revise Claim In Sintex-BAPL Ltd Insolvency Case
Case Title : Machino Polymers Limited Vs Ashish Chhhawchharia
Case Number : IA/42(AHM)2026 in CP(IB) 759 of 2019
CITATION : 2026 LLBiz NCLT (AHM) 763
The Ahmedabad National Company Law Tribunal (NCLT) on 2 July held that an approved Resolution Plan cannot be modified to revise admitted claims after the conclusion of the Corporate Insolvency Resolution Process (CIRP), as it attains finality and binds all stakeholders. A Bench comprising Judicial Member Shammi Khan and Technical Member Sanjeev Sharma dismissed an application filed by Machino Polymers Limited seeking revision of its admitted claim against Sintex-BAPL Ltd., holding that no direction could be issued to the Resolution Professional to alter admitted claims or records after approval of the Resolution Plan.
NCLT Ahmedabad Rejects Insolvency Plea Against Manpasand Beverages Over Time-Barred ₹34.40 Cr Claim
Case Title : Do Well Moulds Vs Manpasand Beverages Ltd
Case Number : CP(IB) 764 of 2019
CITATION : 2026 LLBiz NCLT (AHM) 765
The Ahmedabad National Company Law Tribunal (NCLT) on 14 July dismissed the insolvency application filed by Do Well Moulds against Manpasand Beverages Ltd., holding that the claim was time-barred and involved pre-existing disputes regarding the genuineness of the transactions. A Bench comprising Judicial Member Chitra Hankare and Technical Member Dr. VG Venkata Chalapathy noted that an insolvency application cannot be admitted where the claim is barred by limitation, disputed prior to the demand notice, and arises from transactions allegedly linked to fraudulent circular trading.
Subsequent Shareholding Changes Cannot Retrospectively Cleanse Related-Party Status: NCLT Chandigarh
Case Title : Mona Portfolio Ltd. Vs Mohit Chawla
Case Number : I.A.(I.B.C)/1082(CH)2025 in CP (IB) No. 248/Chd/Chd/2019
CITATION : 2026 LLBiz NCLT(CHA) 766
The Chandigarh bench of the National Company Law Tribunal (NCLT) has recently ruled that a subsequent change in shareholding or directorship cannot retrospectively erase a company's related-party status for transactions entered into earlier. Dismissing an application filed by Mona Portfolio Ltd., the court held that the company had failed to establish that its claim against Chandigarh Overseas Pvt. Ltd. was a financial debt.
One Workman Cannot Represent Others In IBC Proceedings Without Authorisation: NCLT Kochi
Case Title : Devassykutty C.R and Ors v. Mr. Kizhakkekara Kuriakose Jose and Anr
Case Number : IA(IBC)/122/KOB/2026 in CP(IB)/29/KOB/2022
CITATION : 2026 LLBiz NCLT(KOC) 767
The National Company Law Tribunal (NCLT), Kochi has held that an application filed in the names of multiple workmen cannot be maintained on behalf of those who did not authorise the sole signatory to represent them. “….in the absence of any specific authorisation, authority, or power of attorney in favour of the signatory, the other applicants would not be bound by any action taken by the signatory. Since they may rely on the acts done by the signatory, which would not be binding upon them, it would not be appropriate for this Adjudicating Authority to permit the signatory to continue with this IA on behalf of the other applicants.” the tribunal ruled
Merits Of Oppression Plea Not To Be Examined While Deciding Waiver Application: NCLT Mumbai
Case Title : Devaunshi Mehta nee Thackersey Versus Bhishma Realty Ltd. & Ors.
Case Number : IA (Companies Act) No. 62 (MB) 2026 In Company Petition No. 28 of 2026
CITATION : 2026 LLBiz NCLT (MUM) 769
The Mumbai National Company Law Tribunal (NCLT) has held that while considering an application seeking waiver of eligibility requirements under the proviso to Section 244(1) of the Companies Act, 2013 (which prescribes the minimum shareholding threshold to file oppression and mismanagement petitions), the Tribunal need not examine the merits of the proposed petition. A Bench comprising Technical Member Prabhat Kumar and Judicial Member Sushil Mahadeorao Kochey was hearing an application filed by Devaunshi Mehta, a shareholder holding approximately 4.65% of the paid-up share capital of Bhishma Realty Ltd., seeking waiver of the requirement to maintain a petition under Sections 241 and 242 of the Companies Act, 2013 (provisions dealing with oppression and mismanagement of a company's affairs).
Case Title : Mangaldas Finance Vs Milano Papers Private Limited
Case Number : C.P.(IB)/38(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 770
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has held that a money lender who advances funds only to help a corporate debtor clear an existing bank loan cannot, in the facts of the case, claim the status of a financial creditor under the Insolvency and Bankruptcy Code (IBC). It rejected a Section 7 insolvency plea filed by Gujarat-based Mangaldas Finance seeking initiation of the corporate insolvency resolution process against Milano Papers Pvt. Ltd.
Case Title : LIS STUDYLINK INDIA PVT. LTD.
Case Number : (IB)-467/ND/2025
CITATION : 2026 LLBiz NCLT(DEL) 771
The New Delhi National Company Law Tribunal (NCLT) on 15 July ordered the dissolution of Lis Studylink India Pvt. Ltd. under Section 59 of the Insolvency and Bankruptcy Code, 2016 (IBC), holding that the company's voluntary liquidation process had been completed and no liabilities remained unsatisfied.
NCLT Kochi Allows Second CIRP After Settlement Breach Where Settlement Preserved Creditor's Right
Case Title : Raychem RPG Pvt Ltd v. Soura Natural Energy Solutions India Pvt Ltd
Case Number : CP(IBC)/17/KOB/2026
CITATION : 2026 LLBiz NCLT(KOC) 773
The National Company Law Tribunal (NCLT) at Kochi has recently admitted an insolvency petition against Soura Natural Energy Solutions India Private Limited, holding that an operational creditor is entitled to initiate fresh insolvency proceedings upon breach of a settlement where the settlement itself expressly preserves such a right. A coram of Judicial Member Vinay Goel and Technical Member Ravichandran Ramasamy was considering a petition filed by Raychem RPG Private Limited seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Soura Natural Energy Solutions over an alleged operational debt of ₹4.22 crore arising from the supply of solar panels, solar inverters and other goods.
NCLT Ahmedabad Approves ₹2,775 Crore Inox Neo-Authum Resolution Plan For Wind World India
Case Title : Ravi Sethia Vs Consortium of Inox Neo Energies Limited (Lead Member) and Authum Investment and Infrastructure Limited
Case Number : IA(Plan)/10(AHM)2026 In CP{(IB) 14 of 2018
CITATION : 2026 LLBiz NCLT (AHM) 774
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has approved the ₹2,775 crore resolution plan submitted by the consortium of Inox Neo Energies Limited and Authum Investment & Infrastructure Limited for Wind World (India) Limited. It held that there was no ground to interfere with the commercial wisdom of the Committee of Creditors (CoC).
NCLT Delhi Approves Revised Resolution Plan For JNC Constructions After Supreme Court Remand
Case Title : PRABHJIT SINGH SONI Vs GAUTAM BUILDERS WITH RAPID CONTRACTS PVT. LTD
Case Number : I.A No. 42 (Plan) of 2024 in C.P. NO. IB- 272 (PB)/2019
CITATION : 2026 LLBiz NCLT(DEL) 776
The Delhi bench of the National Company Law Tribunal (NCLT) has approved the resubmitted resolution plan for JNC Constructions Pvt. Ltd., submitted by Gautam Builders in consortium with Rapid Contracts Pvt. Ltd. The approval comes after the Supreme Court set aside the tribunal's 2020 order and directed the Committee of Creditors (CoC) to reconsider the plan. A coram of Judicial Member Jyotsna Sharma and Technical Member Anu Jagmohan Singh observed that the tribunal's powers while considering a resolution plan are limited.
Suspended Directors Cannot Operate Company Bank Accounts After CIRP Admission: NCLT Amaravati
Case Title : Global Enterprise and Another vs. Suvarnabhoomi Infra Developers Pvt Ltd.
Case Number : IA(IBC)/155/2026, IA(IBC)/156/2026, IA(IBC)/142/2026, IA(IBC)/101/2026 in CP(IB)/57/7/AMR/2024
CITATION : 2026 LLBiz NCLT(AMR) 777
The National Company Law Tribunal (NCLT) at Amaravati has held that once a corporate debtor is admitted into the Corporate Insolvency Resolution Process (CIRP), its suspended management has no authority to operate the company's bank accounts or transfer its funds. A coram of Judicial Member Kishore Vemulapalli and Technical Member Umesh Kumar Shukla observed that any operation of the company's bank account or transfer of funds without the Interim Resolution Professional's (IRP) authorisation violates Sections 14 and 17 of the Insolvency and Bankruptcy Code, 2016.
NCLT Ahmedabad Dismisses Insolvency Plea Against Suzlon Energy
Case Title : Harri Wind Farms Vs Suzlon Energy Limited
Case Number : CP(IB)/318(AHM)2022
CITATION : 2026 LLBiz NCLT (AHM) 778
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) has recently rejected an insolvency plea against Suzlon Energy Limited. The plea was rejected after finding that the claim was time-barred and arose out of a pre-existing dispute. The petition was filed by Harri Wind Farms, which sought initiation of insolvency proceedings after claiming Rs 9.70 crore towards land procurement, No Objection Certificates (NOCs), and Power Evacuation (PE) connectivity for a proposed 25 MW wind power project in Tamil Nadu
Case Title : Punjab National Bank Vs TV Vision Limited
Case Number : C.P. (IB)/143(MB)2026
CITATION : 2026 LLBiz NCLT (MUM) 779
The Mumbai Bench of the National Company Law Tribunal (NCLT) on 30 July admitted Punjab National Bank's insolvency application against TV Vision Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016, after finding that the loan transaction qualified as a financial debt and that default was established through documentary evidence. A Bench comprising Judicial Member Nilesh Sharma and Technical Member Sameer Kakar noted that repeated one time settlement (OTS) proposals acknowledging outstanding dues extend the limitation period under Section 18 of the Limitation Act
Liquidator Not Entitled To Additional Remuneration For Litigation-Related Delay: NCLT Kochi
Case Title : CA Mahalingam Suresh Kumar v. Union Bank of India and Anr
Case Number : IA(IBC)/248/KOB/2025
CITATION : 2026 LLBiz NCLT (KOC) 780
The National Company Law Tribunal (NCLT) at Kochi has recently held that a liquidator cannot claim additional remuneration beyond the fee prescribed under the statutory framework merely because the liquidation process remained pending due to litigation. The tribunal accordingly dismissed an application filed by the liquidator of Raihan Healthcare Private Limited. A coram of Judicial Member Vinay Goel and Technical Member Ravichandran Ramasamy was hearing an application filed by the liquidator.
NCLT Ahmedabad Rejects Conart Engineers' Insolvency Plea Against Senores Over Pre Existing Dispute
Case Title : Conart Engineers Limited Vs Senores Pharmaceuticals Limited
Case Number : C.P.(IB)/107(AHM)2026 with IA/734(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 781
The Ahmedabad National Company Law Tribunal (NCLT) on 30 July held that an insolvency petition cannot be admitted when a pre existing dispute exists between parties over contractual claims, including certification of bills, recoveries and retention money. A Bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma dismissed Conart Engineers Limited's insolvency petition against Senores Pharmaceuticals Limited, holding that a dispute between the parties existed before the demand notice was issued. It also rejected an application alleging fraudulent initiation of insolvency proceedings.
Case Title : Manoj kumar Goyal and Anr. V. Dinesh Kehtan
Case Number : IA NO. 1258 OF 2025 IN C.P.(IB) NO. 572(PB)/2019
CITATION : 2026 LLBiz NCLT (DEL) 782
The National Company Law Tribunal (NCLT) at New Delhi has refused to recall a resolution plan approved more than four years ago. It ruled that its limited inherent power of recall under Rule 11 of the NCLT Rules cannot be used as a substitute for a time-barred appeal under the Insolvency and Bankruptcy Code (IBC) or to reopen the Committee of Creditors' (CoC) commercial wisdom. "The limited inherent power of recall preserved under Rule 11 of the NCLT Rules, 2016 cannot be invoked as a substitute for a time-barred appeal under Section 61 of the Code, nor to reopen the non-justiciable commercial wisdom of the CoC or to conduct a fact-intensive enquiry into fraud that is beyond the summary jurisdiction of this Tribunal," the tribunal observed.
Case Title : Rishi Gupta and Anr v. IDBI Trusteeship Services Limited and Ors
Case Number : I.A. 3699 ND 2024 IN C.P. IB 445 (ND) OF 2023
CITATION : 2026 LLBiz NCLT(DEL) 786
The New Delhi National Company Law Tribunal (NCLT) has held that protective covenants in financing documents, including escrow arrangements, reserved matter approvals, monitoring rights and inspection mechanisms, do not by themselves make financial creditors “related parties” under the Insolvency and Bankruptcy Code, 2016 (IBC), unless such rights demonstrate actual control over the management or affairs of the corporate debtor.
Case Title : N.S. COMPANY Vs SADBHAV ENGINEERING LIMITED
Case Number : C.P. (IB)/34(AHM)2024
CITATION : 2026 LLBiz NCLT (AHM) 784
The Ahmedabad National Company Law Tribunal (NCLT) on 29 July held that claims arising solely from a Memorandum of Settlement (MoU) or settlement agreement do not constitute “operational debt” under Section 5(21) of the Insolvency and Bankruptcy Code, 2016 (IBC), as such claims do not arise from the supply of goods or services. A Bench comprising Judicial Member Chitra Hankare and Technical Member Dr V.G. Venkata Chalapathy rejected the insolvency petition filed by N.S. Company against Corporate Debtor Sadbhav Engineering Limited, holding that the claim was based on the MoU entered between the parties and not on any operational debt.
NCLT Ahmedabad Makes Neesa Leisure Resolution Plan Effective, Ends IBC Moratorium
Case Title : Amit Jain RP of Neesa Leisure Limited
Case Number : IA/896(AHM)2026 in CP(IB) 127 of 2017
CITATION : 2026 LLBiz NCLT (AHM) 787
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has passed a consequential order approving the resolution plan for hospitality company Neesa Leisure Limited, which owns and operates hotels and resorts under the Cambay brand The tribunal ruled that the plan submitted by Express Resorts and Hotels Limited, already approved by the National Company Law Appellate Tribunal (NCLAT), would now take effect.
NCLT Delhi Dissolves Newgen Payment Gateway After Voluntary Liquidation
Case Title : NEWGEN PAYMENT GATEWAY PRIVATE LIMITED
Case Number : C.P. (IB)/780/ND/2024
CITATION : 2026 LLBiz NCLT(DEL) 785
The Delhi bench of the National Company Law Tribunal (NCLT) has ordered the dissolution of Newgen Payment Gateway Private Limited, a company that provided payment processing services for credit cards, debit cards and bill payments. The bench found that the company's voluntary liquidation had been completed and all liabilities had been settled. The order was passed by Judicial Member Justice Jyotsna Sharma and Technical Member Anu Jagmohan Singh.
NCLT Jaipur Clears ₹288.37 Crore Resolution Plan For Holiday Inn Jaipur City Centre Operator ACCIL
Case Title : Asset Reconstruction Company(India) Limited v. ACCIL Corporation Private Limited Case Number : IA(IBC)(Plan) No. 06/JPR/2026
CITATION : 2026 LLBiz NCLT(JAI) 789
The National Company Law Tribunal at Jaipur has approved the ₹288.37 crore resolution plan submitted by Oriental Structural Engineers Private Limited (OSEPL) for ACCIL Corporation Private Limited, which owns and operates the five-star Holiday Inn Jaipur City Centre. The approved resolution plan has a total value of ₹288.37 crore and was unanimously approved by the Committee of Creditors. A coram of Judicial Member Reeta Kohli and Technical Member Kavita Bhatnagar passed the order.
NCLT Mumbai Rejects Electrical Panel Supplier's Insolvency Plea Against L&T
Case Title : GS INDUSTRIES vs LARSEN & TOUBRO LIMITED
Case Number : CP (IB) No. 3783/MB/2019
CITATION : 2026 LLBiz NCLT (MUM) 790
On August 4, the Mumbai Bench of the National Company Law Tribunal dismissed a Section 9 insolvency application filed by GS Industries against Larsen & Toubro Ltd. (L&T). The tribunal said that the dispute between the parties regarding the quality of electrical panels supplied constituted a pre-existing dispute, thereby barring initiation of the corporate insolvency resolution process (CIRP).
Fraud Proceedings Under IBC Cannot Be Turned Into 'Battlefield' For Private Disputes: NCLT Kochi
Case Title : Mohan Kumar and Anr v. K Parameswaran Nair and Ors
Case Number : IA(IBC)/35/KOB/2025
CITATION : 2026 LLBiz NCLT(KOC) 794
The National Company Law Tribunal (NCLT) at Kochi has recently observed that fraud proceedings under the Insolvency and Bankruptcy Code cannot be turned into a “battlefield” for settling private disputes or creating fresh controversies to prolong adjudication under the Code. The observation came in a case concerning Section 66 of the Insolvency and Bankruptcy Code, which deals with fraudulent trading and transactions, where Resolution Professional K. Parameswaran Nair had alleged fraudulent trading and transactions by Samson and Sons Builders and Developers Private Limited.
NCLT Ahemdabad Rejects Jindal SMI's Insolvency Plea Against Astron Packaging As Principal Dues Paid
Case Title : Jindal SMI Coated Products Limited Vs Astron Packaging Limited
Case Number : C.P. (IB)/168(AHM)2024
CITATION : 2026 LLBiz NCLT (AHM) 797
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has rejected an insolvency petition filed by Jindal SMI Coated Products Limited against Astron Packaging Limited, finding that Astron had paid ₹3.23 crore against principal dues of ₹2.97 crore. The court further observed that the amount remaining after treating the payment towards principal was below the statutory threshold under the Insolvency and Bankruptcy Code (IBC).
Case Title : IDBI Trusteeship Services Limited v. Ozone Projects Private Limited
Case Number : CP/IB/49/2023
CITATION : 2026 LLBiz NCLT(CHE) 800
The Chennai National Company Law Tribunal (NCLT) has held that a financial creditor can invoke Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) where the existence of financial debt and default is established, and that a pending appeal against the insolvency proceedings does not prevent the Tribunal from deciding the petition.
A Bench comprising Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam rejected Ozone Projects Private Limited's application under Section 65 of the IBC, which permits the Tribunal to act where insolvency proceedings have been initiated fraudulently or with malicious intent, and admitted the company into CIRP on a petition filed by IDBI Trusteeship Services Limited, acting as debenture trustee
NCLT Chennai Dissolves Ashok Leyland-John Deere JV After 8-Year Voluntary Liquidation
Case Title : Guntutu Subhasree
Case Number : CP(IBC)/367(CHE)/2025
CITATION : 2026 LLBiz NCLT(CHE) 801
The Chennai National Company Law Tribunal (NCLT) on 16 July ordered the dissolution of Ashok Leyland John Deere Construction Equipment Company Private Limited after finding that the company had completely wound up its affairs and liquidated all its assets.
A Bench comprising Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam passed the order under Section 59(7) of the Insolvency and Bankruptcy Code, 2016 (which empowers the Tribunal to order dissolution after completion of voluntary liquidation).
NCLT Jaipur Replaces RP In Dropbase Liquidation, Says CIRP Beyond 330 Days Is Serious Lapse
Case Title : Karvy Forde Search Pvt Ltd v. Dropbase Software Pvt Ltd
Case Number : IA(IBC) No. 505/ 2025
CITATION : 2026 LLBiz NCLT(JAI) 802
The Jaipur National Company Law Tribunal (NCLT) on 17 July ordered liquidation of Dropbase Software Private Limited and replacing Resolution Professional Rajneesh Sharma with Anubha Singh as the Liquidator, citing his failure to adhere to the CIRP timeline. A Bench of Judicial Member Reeta Kohli and Technical Member Kavita Bhatnagar held that continuing the Corporate Insolvency Resolution Process (CIRP) beyond the statutory period without following the prescribed procedure amounts to a “serious lapse in the professional conduct” of the Resolution Professional (RP).
Case Title : Anand Hariharan v. Mantri Technology Constellations Pvt Ltd
Case Number : CP(IB) No. 92/BB/2026
CITATION : 2026 LLBiz NCLT(CHE) 803
The National Company Law Tribunal (NCLT) at Bengaluru has held that a separate Corporate Insolvency Resolution Process (CIRP) cannot be initiated for a particular real estate project when the developer as a whole is already undergoing CIRP. The ruling came while dismissing a homebuyer's insolvency plea against Buoyant Technology Constellations Private Limited, who argued that his claim arose exclusively from the Mantri Manyata Energia project.
Ahmedabad NCLT Orders Liquidation Of Shriram Cements, Holds SRA Cannot Rewrite Approved Plan
Case Title : Monitoring Committee of Shriram Cement Ltd. Vs High Performance Products Industries Pvt. Ltd.
Case Number : IA/1039(AHM)2023 & IA/170(AHM)2024 In CP(IB) 195 of 2018
CITATION : 2026 LLBiz NCLT (AHM) 804
The Ahmedabad National Company Law Tribunal (NCLT) on 22 July ordered liquidation of Shriram Cements Limited after holding that the Successful Resolution Applicant (SRA) failed to implement the Resolution Plan approved under the Insolvency and Bankruptcy Code, 2016 (IBC), and could not make its obligations conditional on resolution of a pending land dispute or release of a Bank Guarantee. A Bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma held that the SRA had submitted the Resolution Plan with knowledge of the pending land dispute and the issues concerning the Corporate Debtor's property, and therefore could not subsequently avoid its binding obligations under the approved Plan.
Subsequent Liquidation Order Cannot Bar Plea Alleging Fraudulent CIRP: NCLT Allahabad
Case Title : SUDHANSHU CHAUDHARY & ORS Vs GLOBAL NEW ENERGIES & TECHNOLOGIES
Case Number : IA NO.190/2026 IN CP (IB) NO.89/ALD/2022
CITATION : 2026 LLBiz NCLT (ALL) 805
The Allahabad bench of the National Company Law Tribunal (NCLT) has held that a subsequent liquidation order cannot bar adjudication of allegations that an insolvency process was initiated fraudulently or with malicious intent. The bench of Judicial Member Praveen Gupta and Technical Member Ashish Verma observed, “...the allegations under Section 65 were raised during the subsistence of the CIRP itself; they formed the basis of proceedings initiated by the erstwhile RP; and they remained unresolved at the time when liquidation came to be ordered. In such circumstances, the subsequent liquidation of the Corporate Debtor cannot operate as a bar to the adjudication of the present application.”
NCLT Delhi Rejects Insolvency Plea Over Claims Based On Unilateral Invoice Payment Terms
Case Title : Kannodia Technoplast Ltd. Vs Kay Pee Khaini Pvt. Ltd.
Case Number : CP (IB)-612/ND/2025
CITATION : 2026 LLBiz NCLT(DEL) 806
The Delhi bench of the National Company Law Tribunal (NCLT) has rejected Kannodia Technoplast Ltd.'s insolvency petition against Kay Pee Khaini Pvt. Ltd. It held that payment terms unilaterally mentioned in invoices cannot establish default when there is no bilateral contract between the parties. The order was passed by a bench comprising Judicial Member Ashok Kumar Bhardwaj and Technical Member Banwari Lal Meena.
NCLT Ahmedabad Directs Zyngo EV Mobility To Hand Over 16 Leased EVs To Gensol EV Lease
Case Title : Keshav Khaneja RP of Gensol EV Lease Limited Vs Rajiv Khurana RP of Zyngo EV Mobility Pvt. Ltd. & ors
Case Number : IA/622(AHM)2026 in C.P.(IB)/[199(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 807
The Ahmedabad National Company Law Tribunal (NCLT) on 27 July, partly allowed an application filed by the RP of Gensol EV Lease Ltd. and directed Zyngo EV Mobility Pvt. Ltd. to hand over 16 leased electric vehicles (EVs), along with their documents, keys and accessories. A Bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma held that a Resolution Professional (RP) can seek recovery of leased assets lying with a third party during the Corporate Insolvency Resolution Process (CIRP), while disputes over damages, vehicle condition, lease rentals and CIRP costs must be decided separately by the appropriate forum.
Case Title : Harsh Vardhan Krishnatray & Ors Vs Vatika One On One Private Limited
Case Number : CP IB NO. 29/(ND)/2026
CITATION : 2026 LLBiz NCLT(DEL) 808
The New Delhi National Company Law Tribunal (NCLT) on 23 July held that claims for assured returns and lease rentals under Builder Buyer Agreements do not qualify as “operational debt” under the Insolvency and Bankruptcy Code, 2016 (IBC), and that individual claims must meet the statutory threshold of Rs. 1 crore under Section 4 of the Code. A Bench of Judicial Member Manni Sankariah Shanmuga Sundaram and Technical Member Reena Sinha Puri dismissed an insolvency petition filed against Vatika One On One Pvt. Ltd., holding that the claims arose from real estate investment agreements and did not fall within the statutory definition of operational debt.
Case Title : Sane Guruji Premises Co-operative Society Limited vs ARCK Resolution Professional LLP
Case Number : IA (I.B.C)/2372(MB)2026 IN CP (IB) No. 1053/(MB)/2017
CITATION : 2026 LLBiz NCLT (MUM) 809
The National Company Law Tribunal (NCLT) at Mumbai has recently held that an explanation inserted into the Insolvency and Bankruptcy Code (IBC), excluding security interests created merely by operation of law from the definition of “security interest," will operate prospectively from May 26, 2026. A bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar observed that the amendment introduces a substantive restriction on the earlier definition. It cannot retrospectively nullify security interests already created by operation of law.
Later Default After Repayment Extension Cannot Revive COVID-Period Insolvency Claim: NCLT Mumbai
Case Title : Shaanxi Baoguang Import And Export Company Limited Vs Stelmec Limited
Case Number : IA(IBC)2690/(MB)2026
CITATION : 2026 LLBiz NCLT (MUM) 810
The National Company Law Tribunal (NCLT) at Mumbai has recently held that a creditor cannot rely on a later failure to repay after giving a company extra time when the original default occurred during the COVID-19 period. A bench of Judicial Member Nilesh Sharma and Technical Member Sameer Kakar ruled that extending the repayment period does not erase or extinguish the original default.
NCLT Launches E-Inspection, E-Certified Copy Services
The National Company Law Tribunal (NCLT) has launched e-Inspection and e-Certified Copy Services to provide advocates, litigants, and other stakeholders with faster and more convenient access to judicial records and certified copies. NCLT President Justice Anupinder Singh Grewal inaugurated the services through video conferencing on Wednesday. The services are part of the tribunal's broader digital transformation, which includes its revamped website and the ongoing e-Courts 2.0 initiative.
Case Title : Bharati Trading Enterprises Pvt. Ltd Vs Tecso Project Limited
Case Number : C.P.(IB)/I155(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 811
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has dismissed Bharati Trading Enterprises Pvt. Ltd.'s insolvency petition against Vadodara-based Tecso Project Ltd. over an alleged ₹18.91 crore operational debt. The tribunal found a plausible pre-existing dispute over contractual interest, computation of the principal amount, ledger entries and supporting documents. Judicial Member Shammi Khan and Technical Member Sanjeev Sharma also imposed a ₹2 lakh penalty on Bharati Trading under for misusing the insolvency process to recover debt.
NCLT Ahmedabad Dismisses Ricova International's Insolvency Plea Against Kraft Paper Manufacturer
Case Title : Ricova International Inc. Vs Shree Narayan Kraft Paper Mill LLP
Case Number : C.P.(IB)I159(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 812
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has dismissed an insolvency petition filed by Panama-based Ricova International INC against Shree Narayan Kraft Paper Mill LLP.
The bench comprising Judicial Member Shammi Khan and Technical Member Sanjeev Sharma found that there was pre-existing dispute between the parties. Ricova had claimed an operational debt of Rs 3,81,87,186.24 (USD 4,44,192.34) for the alleged supply of waste paper (NDLKC) pursuant to various indents placed between October 2024 and January 2025. The claimed date of default was April 13, 2025.
Case Title : Vitol SA Vs Abhishek Nagori
Case Number : IA/371(MP)2023 in TP 161 of 2019 [CP(IB) 19 of 2017]
CITATION : 2026 LLBiz NCLT (IND) 813
The National Company Law Tribunal (NCLT) at Indore has ruled that a mere divergence between a forensic auditor's interim and final reports, without any demonstrable infirmity, is not enough to disregard the final report or appoint an alternate auditor. The bench of Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta ruled, “Mere divergence between a preliminary draft and a final report, explained by a materially expanded record, does not by itself establish unreliability.”
Defective Or Withdrawn Liquidation Application Cannot End RP's Entitlement To Fees: NCLT Ahmedabad
Case Title : Sachin Naveen Sinha Vs Arvind D Gaudana
Case Number : IA/1097(AHM)2025 In C.P.(IB)/119{AHM)2022
CITATION : 2026 LLBiz NCLT (AHM) 815
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has recently held that a liquidation application that is subsequently withdrawn cannot by itself end a Resolution Professional's entitlement to remuneration if the RP continues to discharge statutory duties. The bench said a defective or withdrawn liquidation application that does not culminate in an order of liquidation cannot terminate the RP's entitlement to remuneration when he continues to function under the Insolvency and Bankruptcy Code, 2016.
Case Title : Mahananda Udhavrao Deshkhaire
Case Number : C.P.(IB) NO. 381(MB)/2024
CITATION : 2026 LLBiz NCLT(MUM) 817
The National Company Law Tribunal (NCLT), Mumbai Bench, has recently issued a bailable warrant of arrest against a personal guarantor for failing to appear before the tribunal despite clear directions to explain why the Resolution Professional's fees had not been paid.
The order was passed by Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar in personal insolvency proceedings against Mahananda Udhavrao Deshkhaire under Section 94(1) of the Insolvency and Bankruptcy Code, 2016.
Case Title : Nirmal Ujjwal Credit Co-operative Society Ltd v. Indian Bank and Ors.
Case Number : IA. 2396 of 2026 in C.P.(IB) NO. 1318(MB)/2022
CITATION : 2026 LLBiz NCLT(MUM) 818
The National Company Law Tribunal (NCLT), Mumbai Bench-I has directed the return of a ₹5 crore Earnest Money Deposit (EMD) Bank Guarantee furnished by Nirmal Ujjwal Credit Co-operative Society Limited during the Corporate Insolvency Resolution Process (CIRP) of Morarjee Textiles Limited. The court held that the guarantee could not be forfeited under the Request for Resolution Plan (RFRP) without any misrepresentation or misleading statement about the society's eligibility.
SARFAESI Notice Alone Cannot Establish Personal Guarantee Invocation Without Deed: NCLT Chandigarh
Case Title : Vijay Singh
Case Number : CP(IB)No.133/Chd/Hry/2026
CITATION : 2026 LLBiz NCLT(CHA) 819
The National Company Law Tribunal (NCLT), Chandigarh bench, has ruled that a personal guarantor seeking insolvency resolution must place the underlying Deed of Guarantee on record to establish that status. A SARFAESI demand notice by itself cannot conclusively establish invocation of the guarantee when the deed is absent.
Suspended Director Status Alone Cannot Justify Harsher Standard For His Resolution Plan: NCLT Kochi
Case Title : Mr. N.K Kurian v. Mr. K. Easwara Pillai and Anr Case Number : IA(IBC)/284/KOB/2026 CITATION : 2026 LLBiz NCLT(KOC) 822
The National Company Law Tribunal (NCLT), Kochi, has recently ruled that a Resolution Plan cannot be subjected to a more onerous standard merely because it has been submitted by a suspended director.
Bank's Internal Policies Cannot Override IBC Or RP Appointment Order: NCLT Guwahati
Case Title : Indian Bank v. Sudha Sarma
Case Number : IA(IBC)/55/GB/2026
CITATION : 2026 LLBiz NCLT(BEN) 823
The Guwahati National Company Law Tribunal (NCLT) on 24 July held that a bank's internal policies cannot override the statutory scheme of the Insolvency and Bankruptcy Code, 2016 (IBC) or the Tribunal's order appointing a Resolution Professional (RP).
SARFAESI Proceedings, ED Provisional Attachment Do Not Bar CIRP: NCLT Ahmedabad
Case Title : CFM Asset Reconstruction Private Limited Vs Capbridge Venture LLP
Case Number : C.P.(IB)/225(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 824
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has held that ongoing SARFAESI proceedings and provisional attachment of a secured property by the Directorate of Enforcement do not bar initiation of the Corporate Insolvency Resolution Process (CIRP) against Capbridge Venture LLP. “The contention that proceedings under the SARFAESI Act, 2002 bar the present Petition is untenable. The remedies available under the SARFAESI Act and the Insolvency and Bankruptcy Code operate in different fields, and initiation of statutory recovery measures does not preclude proceedings under Section 7 of the Code,” the tribunal observed.
NCLT Guwahati Admits IL&FS Insolvency Plea, Holds Pledged Shares Dispute No Defence To Default
Case Title : IL&FS Financial Services Limited v Adhunik Meghalaya Steels Private Limited
Case Number : CP(IB)/2/GB/2024
CITATION : 2026 LLBiz NCLT(GUA) 828
The Guwahati National Company Law Tribunal (NCLT) has held that a dispute over the invocation and appropriation of pledged securities cannot defeat an insolvency petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, once the existence of financial debt and default is established. A Bench of Judicial Member Rammurti Kushawaha and Technical Member Yogendra Kumar Singh made the observation while admitting an insolvency petition filed by IL&FS Financial Services Limited against Adhunik Meghalaya Steels Private Limited.
Case Title : Pen India Private Limited Vs. Reliance Entertainment Studios Private Limited
Case Number : C.P. (IB)/1063/MB/2025
CITATION : 2026 LLBiz NCLT (MUM) 829
The Mumbai National Company Law Tribunal (NCLT) on 19 August held that an amount advanced under a Security Deposit Agreement can constitute a financial debt under Section 5(8) of the Insolvency and Bankruptcy Code, 2016 (IBC).
Case Title : Aviator ML 29641, Limited Vs Spicejet Limited
Case Number : IB-674/ND/2024
CITATION : 2026 LLBiz NCLT(DEL) 831
The National Company Law Tribunal (NCLT), New Delhi, on 19 August allowed Aviator ML 29641 to withdraw its insolvency petition against SpiceJet Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, but imposed costs of Rs. 15 lakh on both parties for seeking withdrawal after the matter had been reserved for orders.
NCLT Chandigarh Sets Aside Canara Bank's SARFAESI Sale Of Mohan Rail Components' Assets
Case Title : Jaspal Singh & Ors Vs Canara Bank & Ors
Case Number : IA(I.B.C)/438(CH)2026 IN CP(IB)No.23/Chd/Pb/2023
CITATION : 2026 LLBiz NCLT(CHA) 832
The Chandigarh Bench of the National Company Law Tribunal (NCLT) has allowed applications filed by Jaspal Singh and Narinder Kaur, suspended directors and personal guarantors of Mohan Rail Components, and set aside the sale certificate issued by Canara Bank in respect of the company's core assets on 1 January 2026.
NCLT Indore Dismisses Union Bank's Plea To Include Four Belated EOIs In JSM Devcons CIRP
Case Title : Union Bank of India Vs Chaya Gupta RP of JSM Devcons India Pvt Ltd
Case Number : IA/580(MP)2025 in TP 230 of 2019 [CP(IB) 192 of 2017
CITATION : 2026 LLBiz NCLT (IND) 833
The Indore National Company Law Tribunal (NCLT) dismissed Union Bank of India's plea seeking inclusion of four belated EOIs in the Corporate Insolvency Resolution Process (CIRP) of JSM Devcons India Pvt. Ltd.
Case Title : Pradeep Kumar Goyal v. Mohit Chawla and Anr.
Case Number : I.A. (I.B.C) 924 (CH)2025 in CP (IB) No. 248/Chd/Chd/2019
CITATION : 2026 LLBiz NCLT (CHA) 836
The Chandigarh Bench of the National Company Law Tribunal (NCLT) has held that merely being classified as an “Other Creditor” does not confer on such creditor an unrestricted right to challenge a resolution plan, particularly where the challenge does not arise from the creditor's own admitted claim or any legally enforceable right under the Insolvency and Bankruptcy Code (IBC
Case Title : Tanay Securities & Sevices Pvt Ltd V/s Organic World Pvt Ltd
Case Number : CP(IB)/60(MP)2024
CITATION : 2026 LLBiz NCLT (IND) 837
The Indore Bench of the National Company Law Tribunal (NCLT) on 3 August admitted a Section 7 application under the Insolvency and Bankruptcy Code, 2016 (IBC) against Organic World Private Limited over a default of approximately Rs. 2.24 crore
NCLT Chennai Admits Gangotri Textiles' CIRP Plea, Holds Pending DRT Proceedings No Bar
Case Title : Gangotri Textiles Limited
Case Number : CP(IBC)/310(CHE)/2025
CITATION : 2026 LLBiz NCLT(CHE) 834
The National Company Law Tribunal (NCLT) at Chennai on 7 August admitted Gangotri Textiles Limited's application under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC), thereby initiating Corporate Insolvency Resolution Process (CIRP) against it.
NCLT Bengaluru Dissolves Infotech HAL After Completion Of Liquidation Process
Case Title : Infotech HAL Limited v. Infotech HAL Limited
Case Number : CP(IB) No. 99/BB/2024
CITATION : 2026 LLBiz NCLT (BEN) 835
On 17 August, the National Company Law Tribunal (NCLT) at Bengaluru ordered the dissolution of Infotech HAL Limited after finding that its affairs had been completely wound up and all its realisable assets had been dealt with in accordance with the Insolvency and Bankruptcy Code, 2016 (IBC).
Debenture Holders Retain Right To Initiate Insolvency Despite Trustee Appointment: NCLT Bengaluru
Case Title : India Housing Fund and Anr v. Gulam Mustafa Enterprises Private Limited
Case Number : CP(IB) No. 90/BB/2025
CITATION : 2026 LLBiz NCLT(BEN) 842
The National Company Law Tribunal (NCLT), Bengaluru has held that the appointment of a Debenture Trustee to represent debenture holders does not take away their independent statutory right as Financial Creditors to initiate insolvency proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC).
NCLT Indore Holds IBC Cannot Be Used To Settle Family Disputes, Rejects ₹4.21 Crore Section 7 Plea
Case Title : Prakash Chuhardas Khatri V/s Indore Glass House Pvt Ltd
Case Number : CP(IB)/61(MP)2025
CITATION : 2026 LLBiz NCLT(IND) 843
The Indore Bench of National Company Law Tribunal (NCLT) has held that a Section 7 application under the Insolvency and Bankruptcy Code (IBC) cannot be used to recover disputed amounts or settle an ongoing family dispute where the applicant fails to establish the existence of a financial debt and default.
Belated Homebuyer Claims Cannot Reopen Approved Resolution Plan: NCLT Indore
Case Title : Nishkarsh Kumar v. Chahya Gupta& Ors.
Case Number : IA /298/MP/2026 in Company Petition IB/74/94/HDB/2024
CITATION : 2026 LLBiz NCLT(IND) 844
The Indore Bench of the National Company Law Tribunal (NCLT) has held that a homebuyer's claim cannot be recognised after approval and implementation of a Resolution Plan, as entertaining such a belated claim would undermine the finality of the approved plan.
NCLT Delhi Approves Zee Founder Subhash Chandra's ₹6.5 Cr. Repayment Plan Against ₹22,006 Cr. Claims
Case Title : Indiabulls Housing Finance Limited Vs Dr. Subhash Chandra
Case Number : Company Petition No. (IB) - 97(ND)/2022
CITATION : 2026 LLBiz NCLT(DEL) 845
The National Company Law Tribunal (NCLT), New Delhi, on 25 August approved the repayment plan of Dr. Subhash Chandra, chairman of the Essel Group and founder of Zee TV, under Section 114 of the Insolvency and Bankruptcy Code, 2016 (IBC), subject to the exclusion of two unsupported claims.
NCLT Ahmedabad Admits Kalahridhaan Trendz Into CIRP Over ₹3.26 Crore Default
Case Title : Kushal Finnovatio Capital Pvt Ltd Vs Kalahridhaan Trendz Limited
Case Number : C.P.(IB)/16(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 841
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 14 August admitted Kushal Finnovation Capital Pvt. Ltd.'s insolvency petition against Kalahridhaan Trendz Limited over a default of more than Rs. 3.26 crore under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). Judicial Member Chitra Hankare and Technical Member Dr VG Venakata Chalapathy held that insolvency proceedings can be initiated where a financial debt is due and payable, the default exceeds the threshold prescribed under the IBC, and the petition is filed within limitation.
NCLT New Delhi Orders Liquidation Of Dalmia Life Care After CoC Gets 72.19% Vote
Case Title : RABINDRA KUMAR MINTRI
Case Number : IA (Liq.) 36/ND/2025 IN CP IB NO. 93/ND/2024
CITATION : 2026 LLBiz NCLT(DEL) 840
The New Delhi Bench of the National Company Law Tribunal (NCLT) on 19 August ordered the liquidation of Dalmia Life Care Private Limited under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, following a resolution passed by its Committee of Creditors (CoC) with 72.19% voting share.
NCLT Chennai Rejects Jyoti Ltd's Insolvency Plea Against Marg Ltd Over Pre-Existing Dispute
Case Title : Jyoti Limited v. Marg Limited
Case Number : CP/IB/262/CHE/2022
CITATION : 2026 LLBiz NCLT(CHE) 846
The National Company Law Tribunal (NCLT) at Chennai on 7 August dismissed an insolvency application filed by Jyoti Limited against Marg Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), over an operational debt of Rs. 22.67 crore. A Bench comprising Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy held that Marg had raised a genuine pre-existing dispute regarding its liability, which had continued through the arbitral proceedings and subsequent challenge to the award.
Suspended Directors Cannot Pursue 'Proxy Grievances' On Behalf Of Homebuyers: NCLT Chandigarh
Case Title : Vinod Bagai and Anr v. Rahul Jindal and Ors.
Case Number : I.A. No.1064 of 2025 In CP(IB) No. 98/Chd/Hry/2022 (Admitted)
CITATION : 2026 LLBiz NCLT(CHA) 848
The National Company Law Tribunal (NCLT), Chandigarh, on 13 August held that suspended directors cannot challenge a Corporate Insolvency Resolution Process (CIRP) or a Resolution Plan by raising grievances on behalf of a class of creditors to which they do not belong. A Bench comprising Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal rejected a challenge by the promoters, shareholders and suspended directors of Samar Estates Private Limited against the CIRP and the Resolution Plan approved by the Committee of Creditors (CoC).
NCLT Chennai Rejects Jyoti Ltd's Insolvency Plea Against Marg Ltd Over Pre-Existing Dispute
Case Title : Jyoti Limited v. Marg Limited
Case Number : CP/IB/262/CHE/2022
CITATION : 2026 LLBiz NCLT(CHE) 846
The National Company Law Tribunal (NCLT) at Chennai on 7 August dismissed an insolvency application filed by Jyoti Limited against Marg Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), over an operational debt of Rs. 22.67 crore.
Suspended Directors Cannot Pursue 'Proxy Grievances' On Behalf Of Homebuyers: NCLT Chandigarh
Case Title : Vinod Bagai and Anr v. Rahul Jindal and Ors.
Case Number : I.A. No.1064 of 2025 In CP(IB) No. 98/Chd/Hry/2022 (Admitted)
CITATION : 2026 LLBiz NCLT(CHA) 848
The National Company Law Tribunal (NCLT), Chandigarh, on 13 August held that suspended directors cannot challenge a Corporate Insolvency Resolution Process (CIRP) or a Resolution Plan by raising grievances on behalf of a class of creditors to which they do not belong.
Case Title : Ingram Micro India Private Limited v. Planet Infrastructure Management Private Limited Case Number : C.P. (I.B.) No. 278/KB/2025
CITATION : 2026 LLBiz NCLT(KOL) 849
The National Company Law Tribunal (NCLT), Kolkata on 10 August admitted Planet Infrastructure Management Private Limited into the Corporate Insolvency Resolution Process (CIRP) on a Section 9 petition filed by Ingram Micro India Private Limited.
NCLT Delhi Refers Subhash Chandra's ₹6.5 Cr Plan To 5-Member Bench After No Majority, Hearing Today
At 10:15 am today, a Special Five-Member Bench of the New Delhi National Company Law Tribunal (NCLT) is scheduled to hear the insolvency proceedings involving Essel Group Chairman Dr Subhash Chandra, following a reference after no majority view emerged on the approval and scope of his repayment plan.
NCLT Kochi Waives Meetings For Vallabhdas Kanji's Amalgamation With Three Wholly-Owned Subsidiaries
Case Title : In the matter of Composite Scheme of Arrangement among Vallabhdas Kanji Limited and Others
Case Number : CA(CAA)/10/KOB/2026
CITATION : 2026 LLBiz NCLT(IND) 851
The National Company Law Tribunal, Kochi (NCLT), on 11 August dispensed with the requirement of convening meetings of shareholders and creditors for a composite Scheme of Arrangement involving the amalgamation of three substantially wholly-owned subsidiaries with their holding company, Vallabhdas Kanji Limited.
Case Title : Indiabulls Housing Finance Limited vs Dr Subhash Chandra
Case Number : IB-97/ND/2022
NCLT Hyderabad Says IBC Section 7 Default Amount Not A Ceiling On CIRP, Upholds ₹73.98 Cr. Claim
Case Title : M/s Global Insolvency Professionals Private Limited v. Frontline Enterprises Limited & Anr.
Case Number : IA (IBC) No. 901 of 2026 in CP (IB) No. 217/7/HDB/2024
CITATION : 2026 LLBiz NCLT (HYD) 856
The National Company Law Tribunal (NCLT) at Hyderabad has held that the amount of default stated in a Section 7 application under the Insolvency and Bankruptcy Code, 2016 (IBC) does not cap the claim that a creditor may subsequently submit and the Resolution Professional may admit during the corporate insolvency resolution process (CIRP).
NCLT Indore Admits Hinduja Leyland Finance's ₹117.28 Crore Insolvency Plea Against Owais Metal
Case Title : Hinduja Leyland Finance Ltd Vs Owais Metal & Mineral Processing Ltd
Case Number : CP(IB)/76(MP)2025
CITATION : 2026 LLBiz NCLT(IND) 847
The Indore Bench of the National Company Law Tribunal (NCLT) on 13 August admitted an insolvency petition filed by Hinduja Leyland Finance Ltd against Owais Metal & Mineral Processing Ltd for default of Rs. 117.28 crore.
Case Title : AWFIS Space Solutions Private Limited Vs RAB Enterprises (India) Private Limited Case Number : IA/196/2026 C.P. (IB)/689(MB)2024
CITATION : 2026 LLBiz NCLT (MUN) 854
The National Company Law Tribunal (NCLT), Mumbai on 20 August imposed Rs. 1 lakh costs on RAB Enterprises (India) Pvt Ltd for an approximately 11-month delay in seeking to place additional documents on record in an insolvency petition filed by Awfis Space Solutions Ltd.
Corporate Guarantee Continues Despite Transfer Of Mortgaged Property To New Owner: NCLT Mumbai
Case Title : Jammu And Kashmir Bank Limited Vs Essel Infraprojects Limited
Case Number : RCP(IB)/6(MB)2023
CITATION : 2026 LLBiz NCLT (MUM) 853
The National Company Law Tribunal (NCLT), Mumbai on 24 August held that a Corporate Debtor's liability under a Corporate Guarantee does not end merely because the bank obtains a mortgage from the new owner of the mortgaged property.
Case Title : IDBI Bank Limited V/s Mr. Artish Niranjan Nanavaty, Insolvency Professional & Anr.
Case Number : IA(I.B.C)/5231(MB)2025
CITATION : 2026 LLBiz NCLT (MUM) 855
The National Company Law Tribunal (NCLT), Mumbai on 21 August, held that the approved resolution plan for Reliance Communications Infrastructure Ltd. (RCIL) could not presently be implemented as the available funds were insufficient to meet mandatory payments to dissenting financial creditors (DFCs).
Case Title : Kritikal Solutions Pvt Ltd v. Byju's K3 Education Pvt Ltd
Case Number : I.A (IBC) 768/2026
CITATION : 2026 LLBiz NCLT (BEN) 860
The National Company Law Tribunal, Bengaluru, has recently directed the Resolution Professional of Byju's and the successful bidder to maintain the status quo over auctioned assets. The order came after the Resolution Professional of Byju K3 claimed that assets worth about ₹150 crore had been auctioned for about ₹16 crore despite an ownership dispute.
Case Title : Annapurna Pet Private Limited Vs Manpasand Beverages Limited
Case Number : C.P. (IB)/267(AHM)2024
CITATION : 2026 LLBiz NCLT (AHM) 858
The Ahmedabad Bench of the National Company Law Tribunal has recently dismissed an insolvency petition filed by a manufacturer of PET preforms against Mango Sip manufacturer Manpasand Beverages Limited.
NCLT Ahmedabad Rejects Kothamangalam Aggregates' Insolvency Plea Against ACC Limited
Case Title : Kothamangalam Aggregates Prestressed Concrete Industries Vs ACC Limited
Case Number : C.P.(IB)/128(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 861
The Ahmedabad bench of the National Company Law Tribunal has rejected as not maintainable an insolvency plea filed by Kothamangalam Aggregates Prestressed Concrete Industries against ACC Limited over alleged unpaid dues of approximately ₹1.91 crore. It held that most of the claimed dues were barred by limitation. The amount that remained within time was below the minimum required to start the insolvency process.
NCLT Mumbai Directs Former Directors To Pay ₹344.58 Crore Over Fraudulent Diversion Of DHFL Loan
Case Title : Incorp Restructuring Services LLP vs Amar Arun Vajrekar, Suspended Director of Notion Real Estate Private Limited
Case Number : I.A. 2777 of 2025 IN C.P. (IB) No. 915/(MB)/2023
CITATION : 2026 LLBiz NCLT (MUM) 862
On 2 September, the National Company Law Tribunal (NCLT), Mumbai directed two former directors of Notion Real Estate Pvt. Ltd. and Kyata Advisors Pvt. Ltd. to jointly and severally contribute Rs. 344.58 crore to the Corporate Debtor's assets over the diversion of a project loan sanctioned by Dewan Housing Finance Limited (DHFL) for development of a project.
Case Title : ERNST & YOUNG LLP vs MOBASE ELECTRONICS INDIA PRIVATE LIMITED
Case Number : CP(IBC)/370(CHE)/2025
CITATION : 2026 LLBiz NCLT (CHE) 863
The National Company Law Tribunal (NCLT) at Chennai has recently dismissed EY's insolvency plea against a company. EY was seeking a 1% success fee for relief obtained in GST proceedings. The tribunal found a genuine dispute over EY's entitlement to the outcome-based fee. It also observed that the nature of EY's professional engagement and the permissibility of the outcome-based fee arrangement may be examined by the Institute of Chartered Accountants of India if the services were rendered through persons governed by its regulatory framework.
NCLT Chennai Admits Insolvency Plea Filed By Wootu Nutrition Against Itself
Case Title : Mani Geetha Priya
Case Number : CP(IBC)/359(CHE)2025
CITATION : 2026 LLBiz NCLT(CHE) 865
The National Company Law Tribunal at Chennai has admitted an insolvency petition filed by Wootu Nutrition Private Limited, a Chennai-based chain of diet and nutrition clinics, initiating the Corporate Insolvency Resolution Process against the company.
Expiry Of Lease After Resolution Plan Approval Not Related To Insolvency Process: NCLT Mumbai
Case Title : IDBI BANK LIMITED VS POWERDEAL ENERGY SYSTEMS INDIA PRIVATE LIMITED
Case Number : C.P. (IB)/4072(MB)2019
CITATION : 2026 LLBiz NCLT (MUM) 867
The National Company Law Tribunal's (NCLT) Mumbai Bench has held that a dispute over handing over possession after expiry of a lease period does not arise out of or relate to the insolvency resolution of a Corporate Debtor when the lease period expires after approval of its resolution plan. "Accordingly, it cannot be said that the issue of handing over on expiry of lease period is arising out of or in relation to the insolvency resolution of the Corporate Debtor. Since, the cause of action has arisen after approval of the Resolution Plan, we do not consider that non handing over the possession of premises by Respondent No. 1 and 2 after determination of lease period results into obstruction in the implementation of the approved resolution plan," the court ruled.
NCLT Indore Rejects Colama Commercial's Intervention Plea In Satiate Agri Insolvency
Case Title : Colama Commercial Co Ltd Vs Satiate Agri Ltd & Its Board
Case Number : Inv.P/8(MP)2026 in CP(IB)/77(MP)2026
CITATION : 2026 LLBiz NCLT(IND) 870
The Indore Bench of the National Company Law Tribunal (NCLT) on 20 August dismissed an intervention application filed by Colama Commercial Co. Ltd. in the insolvency proceedings initiated by Excellence Finance Pvt. Ltd. against Satiate Agri Ltd.
NCLT Ahmedabad Admits Fettech Commercial Enterprises' Insolvency Plea Against Mercury Trade Links
Case Title : Fettech Commercial Enterprises Pvt Ltd Vs Mercury Trade Links Ltd
Case Number : C.P.(IB)/24(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 871
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 1 September admitted the insolvency petition filed by Fettech Commercial Enterprises Pvt. Ltd. against Mercury Trade Links Ltd. A Bench comprising Judicial Member Chitra Hankare and Technical Member Dr VG Venkata Chalapathy observed: “...we are satisfied that there exists an operational debt of Rs.2,70,00,000/- and that a default has occurred. The debt is due and payable, the demand notice has been served to the CD and no genuine preexisting dispute has been established by the Corporate Debtor.”
Loan Paid To Director's Account Not Company Debt Without Proof Of Corporate Borrowing: NCLT Chennai
Case Title : Rajesh Kumar Saraf HUF v. Veremax Technologie Services Ltd
Case Number : CP(IB)/202(CHE)/2024
CITATION : 2026 LLBiz NCLT(CHE) 874
The National Company Law Tribunal (NCLT) at Chennai has held that a loan directly disbursed into the personal bank account of a company's director cannot be treated as a financial debt of the company without supporting evidence. The creditor must establish that the borrowing was undertaken by the company and that the funds were received or utilised by it for its business.
NCLT Ahmedabad Directs Gensol RP To Hand Over 10 EVs To Mahindra Finance During CIRP
Case Title : Mahindra and Mahindra Financial Services Limited Vs Keshav Khaneja RP for Gensol Engineering Limited & Anr
Case Number : IA/1294(AHM)2025 in C.P.{IBY/195(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 873
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 20 August partly allowed an application filed by Mahindra & Mahindra Financial Services Limited (MMFSL) concerning 17 electric vehicles (EVs) allegedly retained by Gensol Engineering Limited during its Corporate Insolvency Resolution Process (CIRP).
NCLT Bengaluru Approves Promoters' ₹18.34 Crore Resolution Plan For Sanjeevini Medlife Hospitals
Case Title : Sanjeevani Medlife Hospitals (India) Private Limited
Case Number : IA(Plan) No. 02/ 2025
CITATION : 2026 LLBiz NCLT(BEN) 878
The National Company Law Tribunal (NCLT), Bengaluru, on 13 August approved a resolution plan submitted by the erstwhile promoters of Sanjeevini Medlife Hospitals (India) Private Limited, a Micro, Small and Medium Enterprise (MSME), after the Committee of Creditors approved the plan with 100% voting share.
Liquidator Cannot Admit Unadjudicated PF Dues Based On Departmental Estimates: NCLT Ahmedabad
Case Title : Regional Provident Fund Commissioner Vs Pankaj Prabhudayal Goenka
Case Number : IA/1032(AHM)2026 in CP(IB) 781 of 2019
CITATION : 2026 LLBiz NCLT (AHM) 880
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 17 August 2026 held that uncrystallised and provisional provident fund demands cannot be enforced in liquidation, upholding the Liquidator's decision to admit only Rs. 1.68 lakh of provident fund dues and reject the balance claim of Rs. 1.77 crore.
IBC Section 96 Moratorium Is Debtor-Centric, Not Debt-Specific: NCLT Guwahati
Case Title : UCO Bank v. Satyawan Sarma
Case Number : CP(IB)/24/GB/2026
CITATION : 2026 LLBiz NCLT(GUA) 881
The National Company Law Tribunal (NCLT) at Guwahati on 14 August held that the interim moratorium under Section 96 of the Insolvency and Bankruptcy Code, 2016 (IBC) protects a personal guarantor as a whole, and not just against a particular debt. It therefore barred a fresh insolvency application against the guarantor while an earlier application was pending.
Cloud Storage Sale-and-Leaseback Qualifies As Financial Lease Under IBC: NCLT Allahabad
Case Title : Achhru Ram Jindal & Ors. v. M/s Zebyte Rental Planet Private Limited
Case Number : August 20, 2026
CITATION : 2026 LLBiz NCLT(ALL) 882
The National Company Law Tribunal, Allahabad Bench has held that a sale-and-leaseback arrangement created through two linked agreements constituted a “financial lease” under the Insolvency and Bankruptcy Code, 2016. The arrangement involved applicants first purchasing cloud storage units from Vuenow Marketing Services Limited (VMSL) and then leasing the same units to Zebyte Rental Planet Private Limited for 10 years in return for monthly payments.
NCLT Ahmedabad Rejects A.R. Company's Insolvency Plea Against Sadbhav Engineering
Case Title : A. R. COMPANY Vs Sadbhav Engineering Limited
Case Number : COMPANY PETITION (IB) 72 (AHM) 2024
CITATION : 2026 LLBiz NCLT (AHM) 883
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 19 August dismissed an insolvency petition filed by A.R. Company against Sadbhav Engineering Limited over unpaid dues arising from the supply of road and building construction materials
Corporate Debtor Cannot Use Dispute Between Lenders To Delay Insolvency Proceedings: NCLT Kochi
Case Title : Indian Bank v. M/s Aks Cold Storage Ltd
Case Number : CP(IBC)/19/KOB/2026
CITATION : 2026 LLBiz NCLT(KOC) 884
The National Company Law Tribunal (NCLT) at Kochi bench has ruled that a borrower cannot use a dispute between consortium lenders over restructuring to block insolvency proceedings. This is so when the financial debt and default are otherwise established.
NCLT Mumbai Approves ₹1,611-Crore Resolution Plan For Gstaad Hotels, Dismisses Objections
Case Title : JAYESH SANGHRAJKA Vs SHREE NAMAN DEVELOPERS PRIVATE LIMITED
Case Number : IA (IBC) (PLAN) No. 42 of 2026 IN CP (IB) 291 of 2023
CITATION : 2026 LLBiz NCLT (MUM) 885
The Mumbai bench of the National Company Law Tribunal has approved Shree Naman Developers Private Limited's ₹1,611-crore resolution plan for Gstaad Hotels Private Limited. Gstaad Hotels owns the JW Marriott hotel in Bengaluru
NCLT Mumbai Dismisses Jet Airways Plea Seeking $92M Refund From Boeing Over Undelivered Aircraft
Case Title : Jet Airways (India) Limited vs The Boeing Company
Case Number : I.A. 2737 of 2026 & I.A. 3221 of 2026 IN C.P. (IB) No. 2205 of 2019
CITATION : 2026 LLBiz NCLT (MUM) 887
The Mumbai Bench of the National Company Law Tribunal (NCLT) has dismissed the Liquidator of Jet Airways' plea seeking a refund of $92.129 million, or about ₹500 crore, paid to Boeing as advance and pre-delivery payments for aircraft that were never delivered. The tribunal comprising Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar held that the dispute revolved around the parties' aircraft purchase agreements and could not be adjudicated in its limited jurisdiction under the Insolvency and Bankruptcy Code (IBC).
NCLT Indore Rejects Oswal Woollen Mills Insolvency Plea Against EKI Energy
Case Title : Oswal Woollen Mills Ltd Vs Eki Energy Services Ltd
Case Number : CP(IB)/56(MP)2025
CITATION : 2026 LLBiz NCLT(IND) 888
The Indore Bench of the National Company Law Tribunal (NCLT) has dismissed Oswal Woollen Mills Ltd.'s insolvency petition against EKI Energy Services Ltd., a carbon-credit developer and supplier. The petition concerned alleged unpaid dues arising from the supply of Certified Emission Reductions (CERs).
NCLT Ahmedabad Directs Restoration Of Gensol EV Lease's GST Registration During CIRP
Case Title : Keshav Khaneja Vs Mahendra Singh
Case Number : IA/989(AHM)2026 in C.P.(IB)/[199(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 889
The Ahmedabad bench of the National Company Law Tribunal has directed the GST authorities to restore the GST registration of Gensol EV Lease Limited during its Corporate Insolvency Resolution Process (CIRP). The bench held that the cancellation shall not operate against the company during CIRP, observing that the GST registration “has a direct bearing upon the statutory compliances” and may materially affect the Resolution Professional's ability to manage the company's affairs.
Case Title : Varun Anil Chopra Vs Income Tax Department
Case Number : IA/952(AHM)2026 In C.P.(IB)/409(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 891
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has ruled that the Income Tax Department cannot adjust an income-tax refund determined after commencement of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor's pre-CIRP tax dues during the moratorium.
Transaction Audit Report Alone Insufficient To Prove Undervalued Transaction: NCLT Hyderabad
Case Title : Venka Reddy Bathina, Liquidator of DQ Entertainment (International) Limited v. Mr. Tapaas Chakravarti & Ors.
Case Number : I.A. (IBC) No. 1272 of 2023 in C.P. (IB) No. 402/07/HDB/2020 and I.A. (IBC) No. 1273 of 2023 in C.P. (IB) No. 402/07/HDB/2020
CITATION : 2026 LLBiz NCLT (HYD) 893
The Hyderabad Bench of the National Company Law Tribunal (NCLT) has found that a Transaction Audit Report, without the underlying records, was insufficient to establish that an Audi vehicle, an asset part of a CIRP, was sold at an undervalue. The tribunal also found that the vehicle's book value could not, by itself, establish its fair market value. A bench comprising Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri made the observation while dismissing the liquidator's application concerning preferential and undervalued transactions involving DQ Entertainment (International) Limited.
Case Title : Santosh Bhatia, Liquidator of MBS Impex Private Limited v. MBS Impex Private Limited & Ors.
Case Number : IA (IBC) No. 23 of 2026 in CP (IB) No. 407/7/HDB/2019
CITATION : 2026 LLBiz NCLT(HYD) 894
The National Company Law Tribunal (NCLT), Hyderabad Bench, has held that it is not the appropriate forum to direct the release of assets attached by the Enforcement Directorate (ED) in the liquidation of MBS Impex Private Limited. The tribunal left the Liquidator to pursue the remedy available before the PMLA Appellate Tribunal, where his appeal seeking release of the assets was already pending.
NCLT Hyderabad Replaces Liquidator For Failing To Take Enforcement Steps Beyond Emails And Notices
Case Title : GP Petroleums Ltd. v. Tirumala Hills Asphalat Pvt. Ltd.
Case Number : IA (IBC) No. 1184 of 2026 in Company Petition IB/64/9/HDB/2023
CITATION : 2026 LLBiz NCLT(HYD) 897
The National Company Law Tribunal (NCLT), Hyderabad Bench, has recently refused to grant a fourth extension to a Liquidator after finding that his efforts to enforce orders against the suspended directors had substantially remained confined to emails and notices. The bench comprising Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri observed, “Issuance of correspondence, by itself, cannot be regarded as execution or enforcement of an order passed by this Adjudicating Authority.”
Auction Purchaser Not Liable For Corporate Debtor's Pre-CIRP Dues: NCLT Allahabad
Case Title : POSITRON BIOGENICS PRIVATE LIMITED Vs Uttar Pradesh State Industrial Development Authority
Case Number : IA No. 485 of 2023 IN CP(IB)No. 55/ALD/2017
CITATION : 2026 LLBiz NCLT(ALL) 892
The Allahabad bench of the National Company Law Tribunal (NCLT) has ruled that pre-CIRP dues of a company cannot be recovered from an auction purchaser merely because the purchaser acquired its leasehold property through liquidation on an “as is where is” basis. The bench comprising Judicial Member Praveen Gupta and Technical Member Ashish Verma observed, “In view of the above, the mere “as is where is” condition or the subsequent transfer of the leasehold interest cannot convert the pre-CIRP liability of the Corporate Debtor into an independent personal liability of the Applicant. The pre-CIRP dues of the Corporate Debtor were required to be dealt with through the liquidation process in accordance with Section 53 of the Code."
NCLT Delhi Dismisses CIRP Plea Against WAPCOS Over Pre-existing Disputes
Case Title : GLOBAL SURVEYORS Vs WAPCOS LIMITED
Case Number : COMPANY PETITION (IB) NO. 616/ND/2025
CITATION : 2026 LLBiz NCLT(DEL) 895
The Delhi bench of the National Company Law Tribunal has dismissed an insolvency plea against Mini-Ratna Government of India undertaking WAPCOS Limited. The bench found that WAPCOS had raised concerns over the quality and completeness of survey work well before the payment demand was issued.
Professional Entitled To Fees Based On Work, Payment Can't Rely On Court-Fee Refund: NCLT Mumbai
Case Title : Responsibility Fair Agriculture Fund V/s. Abhay Nutrition Pvt Ltd.
Case Number : I.A. 1471/2022 In C.P.(IB)-3799(MB)/2018
CITATION : 2026 LLBiz NCLT (MUM) 898
The National Company Law Tribunal, Mumbai Bench on 11 September held that professionals engaged by a corporate debtor are entitled to fees commensurate with the work performed, and that payment of professional fees cannot be made conditional upon the refund of court fees.
IBC Prevails Over RERA Where Resolution Plan Conflicts With Individual Refund Rights: NCLT Mumbai
Case Title : Vivek Talwar & Ors. vs Rajesh Jhunjhunwala, Resolution Professional
Case Number : I.A. (IB) NO. 3688 OF 2025 IN C.P. (IB) NO. 389/MB/2022
CITATION : 2026 LLBiz NCLT (MUM) 899
The National Company Law Tribunal (NCLT), Mumbai, on 9 September held that a resolution plan cannot be required to incorporate individual homebuyers' refund rights under Section 18 of the Real Estate (Regulation and Development) Act, 2016, where doing so conflicts with the collective insolvency resolution process.
Mere Inclusion Of Company's Name In Loan Documents Not Enough To Trigger Insolvency: NCLT Delhi
Case Title : IIFL Home Finance Limited Vs MMC Realtech Solutions OPC Private Limited
Case Number : COMPANY PETITION (IB) NO. 543/ND/2025
CITATION : 2026 LLBiz NCLT(DEL) 901
The Delhi bench of the National Company Law Tribunal (NCLT) has ruled that merely including a company's name in loan and sanction documents is not enough to establish that the company itself is the real obligor for the purpose of initiating insolvency proceedings. “The insolvency jurisdiction under Section 7 cannot be permitted to be invoked merely because the name of a company appears in the sanction letter, absent clear evidence that the company itself is the real obligor in respect of the financial transaction. The provisions of the IBC cannot be employed as a substitute for enforcement of mortgage security or recovery of personal loan liabilities," the bench of Judicial Member Manni Sankariah Shanmuga Sundaram and Technical Member Reena Sinha Puri observed.
Case Title : Benzo Chem Industries Private Limited Vs Aether Industries Limited
Case Number : CP.(IB)/196(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 902
On 8 September, the Ahmedabad Bench of the National Company Law Tribunal (NCLT) dismissed an insolvency petition filed by Benzo Chem Industries Pvt. Ltd. against Aether Industries Ltd. after finding a pre-existing dispute over the quality of chemicals supplied before the demand notice was issued.
IBC Can Apply To Personal Guarantors Residing Abroad, Nationality No Bar: NCLT Chennai
Case Title : M Gagan Bothra v. Senthil Kumar
Case Number : CP(IB)/96(CHE)/2025
CITATION : 2026 lLBiz NCLT(CHE) 903
The National Company Law Tribunal (NCLT), Chennai, on 7 September held that the Insolvency and Bankruptcy Code (IBC) can be invoked against a personal guarantor residing abroad, as the Code does not restrict its applicability based on the guarantor's nationality or citizenship.
NCLT Ahmedabad Admits Immacule Lifesciences' Insolvency Plea Against FTF Pharma Over ₹2.18 Cr. Debt
Case Title : Immacule Lifesciences Pvt Ltd vs FTF Pharma Private Limited
Case Number : C.P.(IB)/346(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 905
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 9 September admitted an insolvency petition filed by Immacule Lifesciences Pvt. Ltd. against FTF Pharma Pvt. Ltd. under the Insolvency and Bankruptcy Code, 2016 (IBC).
NCLT Ahmedabad Dismisses Make India Impex's ₹9.10 Crore Insolvency Plea Against Elite Green
Case Title : Rajesh Tuisidas Nakhua Vs Elite Green Private Limited
Case Number : C.P.(IB)/164(AHM)2026
CITATION : 2026 LLBiz NCLT (AHM) 906
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.
Case Title : Mexmon Buildwell LLP Vs Uttarakhand Power Corporation Limited & Another
Case Number : IA/1156(AHM)2026 in CP(IB) 669 of 2019
CITATION : 2026 LLBiz NCLT (AHM) 908
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.
NCLT Ahmedabad Declines Gensol EV Lease RP's Plea To Repossess 70 EVs From Minder
Case Title : Keshav Khaneja RP of Gensol Ev Lease Limited Vs Minder EV Logistics Pvt. Ltd & Ors
Case Number : IA/503(AHM)2026 in C.P.(IB)/199(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 909
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.
Case Title : PRADEEP KUMAR JAIN Vs ASHISH SINGH
Case Number : I.A. NO. 527/2023 IN CP IB NO. 693/ND/2022
CITATION : 2026 LLBiz NCLT(DEL) 911
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.
Case Title : Sandeep Kumar Chitkara, IRP of Kay Bee Cotgin Pvt. Ltd. v. Punjab & Sind Bank
Case Number : IA (IBC) No. 966 (CH)/2026 in CP (IB) No. 320/CHD/PB/2024
CITATION : 2026 LLBiz NCLT(CHA) 912
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.
Case Title : STATE BANK OF INDIA Vs SHRI. AMIT SETHI
Case Number : I.A. NO.4399/2024 IN Restored CP IB NO. 19/(ND)/2024
CITATION : 2026 LLBiz NCLT(DEL) 910
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.
Case Title : SREI Equipment Finance Limited v. Mukul Kumar, Resolution Professional of AMRL Hitech City Limited & Anr.
Case Number : IA (IBC) No. 1848/2023 in CP (IBC) No. 78/CHE/2023 along with IA (IBC) No. 1849/2023 in CP (IBC) No. 78/CHE/2023.
CITATION : 2026 LLBiz NCLT(CHE) 913
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).
NCLT Indore Admits Marvel Industries Insolvency Plea Against Flexituff Technology
Case Title : Marvel Industries & Services Pvt Ltd Vs Flexituff Technology International Ltd
Case Number : CP(IB)/23(MP)2025
CITATION : 2026 LLBiz NCLT(IND) 914
The Indore bench of the National Company Law Tribunal (NCLT) has initiated insolvency proceedings against FIBC manufacturer Flexituff Technology International Ltd.
NCLT Mumbai Dismisses Perjury Plea Against Omkara Assets Reconstruction Over Account Differences
Case Title : Aditya Raheja V/s Omkara Assets Reconstruction Pvt. Ltd. & Ors
Case Number : IA 2730 OF 2026 IN CP (IB) NO. 290/MB/2023
CITATION : 2026 LLBiz NCLT (MUM) 915
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.
Financial Hardship Cannot Excuse Repeated Non-Appearance In Insolvency Proceedings: NCLT Mumbai
Case Title : IN THE MATTER OF: MR. KAIRAV ANIL TRIVEDI - LIQUIDATOR
Case Number : RST.A (IBC)/89(MB)2025 IN C.P. (IB)/17(MB)2022
CITATION : 2026 LLBiz NCLT (MUM) 916
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.
Case Title : Nazeema Cholayil v. Mr. K.P Dileep and Ors
Case Number : IA(IBC)/189/KOB/2024
CITATION : 2026 LLBiz NCLT(KOC) 917
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.
NCLT Delhi Directs Bira Beer Maker To Mediate With Creditors Over Insolvency Case Settlement
Case Title : Unity Small Finance Bank Limited Vs B9 Beverages Limited
Case Number : IB-580/ND/2025
CITATION : 2026 LLBiz NCLT(DEL) 918
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.
Case Title : M/s. B.Y. Agro And Infra Ltd. Vs. M/s. Wardha Mega Food Park Private Limited
Case Number : C.P. (IB)/9/MB/2026
CITATION : 2026 LLBiz NCLT (MUM) 919
The National Company Law Tribunal (NCLT), Mumbai, has held that an interest-free payment does not automatically become a financial debt merely because it is described as a loan. The tribunal ruled that the nature and commercial purpose of the transaction, along with the surrounding documentary evidence, must be examined.
Bank Cannot Retain Margin Money After Bank Guarantees Expire Without Invocation: NCLT Mumbai
Case Title : In the matter of: Mr. Jayanti Lal Jain vs Mr. Pranaya Prusty
Case Number : IA/5149/2024 IN CP(IB)/644(MB)2020
CITATION : 2026 LLBiz NCLT (MUM) 920
The National Company Law Tribunal's Mumbai bench has observed that margin money deposited for Bank Guarantees can be retained by a bank only to the extent necessary for live guarantees and must be released where the guarantees have expired without invocation.
NCLT Mumbai Dismisses ₹2,235 Crore Insolvency Plea Against Sumer Radius Realty Amid CBI, ED Probe
Case Title : Piramal Capital & Housing Finance Limited Vs Sumer Radius Realty Private Limited
Case Number : IA/4175/2023 C.P. (IB)/155(MB)2022
CITATION : 2026 LLBiz NCLT (MUM) 921
The National Company Law Tribunal at Mumbai has dismissed Omkara Assets Reconstruction Private Limited's ₹2,235 crore insolvency petition against Sumer Radius Realty Pvt. Ltd. A coram of Judicial Member Vinay Goel and Technical Member Charanjeet Singh Gulati said that the financial creditor's inconsistent stands regarding the same transaction attracted the principle of approbate and reprobate, while the underlying transaction was also under investigation by the CBI and Enforcement Directorate.
NCLT Kolkata Allows Homebuyer To Seek Alternative Flat Or Full Refund After Invalid Cancellation
Case Title : Sujay Shankar Mukherjee v. Ashish Chawchharia, Resolution Professional of Riverbank Developers Private Limited
Case Number : I.A. (IB) No. 160/KB/2026 in C.P. (IB) No. 345/KB/2022
CITATION : 2026 LLBiz NCLT (KOL) 922
The Kolkata bench of the National Company Law Tribunal (NCLT) has held that a homebuyer's flat allotment could not be treated as cancelled after the developer failed to make the refund linked to the proposed cancellation. Since the flat was subsequently allotted to another person and possession was granted, the tribunal allowed the allottee to either seek an alternative flat with a covered car parking space or opt for a full refund of the amount paid with interest at statutory rates.
Case Title : MR. RAJENDRA M. GANATRA (Resolution Professional of Sunshine Housing and Infrastructure Pvt. Ltd.) V/s MR. ATUL SHAMJI BHARANI & OTHERS
Case Number : IA(I.B.C)/893(MB)2020
CITATION : 2026 LLBiz NCLT (MUM) 923
The National Company Law Tribunal (NCLT) at Mumbai has ruled that a Resolution Professional appointed after a failed resolution plan cannot reopen an earlier RP's concluded determination on avoidance or fraudulent transactions. The successor RP can place additional evidence to support the earlier determination, but cannot review or revisit it.
Case Title : Punjab National Bank v. M/s Shree Sai Prakash Alloys Pvt. Ltd.
Case Number : IA(IBC)/126/GB/2024 in CP(IB)/24/GB/2019
CITATION : 2026 LLBiz NCLT (GUA) 924
The National Company Law Tribunal (NCLT), Guwahati, on 10 September held that an unaccepted One-Time Settlement (OTS) proposal made before liquidation cannot be enforced as a matter of right to stop subsequent liquidation proceedings.
CLB Order Does Not Become Unenforceable Merely Because Forum Ceased To Exist: NCLT Guwahati
Case Title : 3A Capital Services Limited v. Prag Bosimi Synthetics Ltd. & Ors.
Case Number : CP/13/GB/2024 along with IA (Comp. Act)/11/GB/2025.
CITATION : 2026 LLBiz NCLT (GUA) 925
The National Company Law Tribunal (NCLT), Guwahati, on 16 September held that the abolition of the erstwhile Company Law Board (CLB) does not render a final order passed by the CLB incapable of enforcement.
Liquidation Pendency Cannot Confer Jurisdiction Over Property Outside Liquidation Estate: NCLT Delhi
Case Title : Vikas Chopra Vs Vivek Parti
Case Number : IA-383/2026 in Company Petition (IB) No. – 1680 (PB)/2019
CITATION : 2026 LLBiz NCLT(DEL) 926
The Delhi Bench of the National Company Law Tribunal (NCLT) on 3 September held that the mere pendency of liquidation proceedings does not confer jurisdiction on the Adjudicating Authority to determine an independent dispute over possession of immovable property that does not form part of the liquidation estate.
NCLT Mumbai Rejects SBI's ₹1,759 Crore Insolvency Plea Against Patanjali Foods Guarantor
Case Title : State Bank of India Versus Mr. Dinesh Shahra
Case Number : C.P. (IB) NO. 385/MB/2023
CITATION : 2026 LLBiz NCLT (MUM) 928
The National Company Law Tribunal (NCLT), Mumbai, has rejected State Bank of India's insolvency plea against Dinesh Shahra, personal guarantor for Patanjali Foods Ltd., formerly known as Ruchi Soya Industries Ltd. The tribunal held that SBI's petition over a debt of ₹1,759 crore was filed after the limitation period had expired. A coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar held that SBI's March 21, 2023 insolvency petition was not maintainable, as the limitation period had expired on February 26, 2023.
NCLT Delhi Issues Notice To CBI In Subhash Chandra's Personal Guarantor Insolvency Case
Case Title : Indiabulls Housing Finance Limited vs Dr Subhash Chandra
Case Number : IB-97/ND/2022
The Delhi Bench of the National Company Law Tribunal (NCLT) on Wednesday issued notice to the Central Bureau of Investigation (CBI) in proceedings concerning a repayment plan proposed for Essel Group Chairman Emeritus Dr Subhash Chandra in his capacity as a personal guarantor of his group companies.
Case Title : Indiabulls Housing Finance Limited vs Dr Subhash Chandra
Case Number : IB-97/ND/2022
The Delhi bench of the National Company Law Tribunal (NCLT) at Delhi on Wednesday orally remarked that the tribunal's functioning could come to a “standstill” if it had to hear the repayment plan proposed by Essel Group Chairman Subhash Chandra during regular court hours, amid the need for more Members.
Case Title : Pink City Fincap Private Limited v. Arthmate Tech Private Limited
Case Number : C.P. (IB) No. 257/KB/2025 along with I.A. (IB) No. 414/KB/2026.
CITATION : 2026 LLBiz NCLT (KOL) 929
The National Company Law Tribunal (NCLT) at Kolkata recently held that a financial creditor cannot demand premature redemption of Optionally Convertible Debentures (OCDs) when the contractual terms give the right of early redemption exclusively to the corporate debtor.
Secured Creditors Cannot Avoid Liquidation Costs Over Unfinalised Expenses: NCLT Chennai
Case Title : SPP Insolvency Professional LLP (IPE), Liquidator of Sri Lakshmi Saraswathi Spintex Ltd. v. Punjab National Bank
Case Number : IA (IBC) No. 1906/(CHE)/2025 in CP (IBC) No. 252/(CHE)/2022
CITATION : 2026 LLBiz NCLT (CHE) 931
The National Company Law Tribunal (NCLT) at Chennai has ruled that a secured creditor that chooses to realise its security under Section 52 of the Insolvency and Bankruptcy Code (IBC) cannot avoid its obligation to contribute towards liquidation costs merely because the expenses have not been finally determined.
Another Creditor Moves NCLT Delhi Against Bira Beer Maker Over ₹7.24 Crore Default
Case Title : Cheer Breweries Ltd. V/s B9 Beverages Ltd
Case Number : IB/426/ND/2026
Case Title : Sandeep Kumar Bhagat v. Punjab National Bank and Ors
Case Number : IA(IBC)/124/GB/2024
CITATION : 2026 LLBiz NCLT(GUA) 932
The National Company Law Tribunal (NCLT), Guwahati, on 10 September refused to direct Punjab National Bank (PNB) to accept a Rs. 22.50 crore One-Time Settlement (OTS) proposal made by Sandeep Kumar Bhagat in relation to three companies undergoing liquidation.
NCLT Mumbai Dismisses Insolvency Plea Against Shapoorji Pallonji
Case Title : UNITON INFRA PRIVATE LIMITED vs SHAPOORJI PALLONJI AND COMPANY PRIVATE LIMITED
Case Number : CP (IB) No.470/MB/2024
CITATION : 2026 LLBiz NCLT (MUM) 934
The National Company Law Tribunal (NCLT) at Mumbai has dismissed Uniton Infra Pvt. Ltd.'s ₹4.31 crore insolvency plea against Shapoorji Pallonji and Company Pvt Ltd, holding that the alleged operational debt was not due and payable under the parties' payment terms.
NCLT Ahmedabad Appoints Forensic Auditor To Verify ₹1.34 Crore Deposit In Gensol-Mufin Dispute
Case Title : Keshav Khaneja Vs Mufin Green Finance Limited
Case Number : IA/1349(AHM)2026 in C.P.(IB)/195(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 939
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 14 September appointed CA Anmol Bindra as an Independent Forensic Auditor to verify the adjustment of Rs. 1,34,14,800 furnished by Gensol Engineering Limited to Mufin Green Finance Limited.
Personal Guarantor Cannot Avoid Liability By Claiming No Personal Benefit From Loan: NCLT Indore
Case Title : The COSMOS Co-Op. Bank Ltd. Vs Rajendra Singhal
Case Number : CP(IB)/40(MP)2025
CITATION : 2026 LLBiz NCLT(IND) 941
The Indore Bench of the National Company Law Tribunal (NCLT) on 9 September held that a personal guarantor cannot avoid liability under a guarantee merely by claiming that he derived no personal or pecuniary benefit from the loan facilities availed by the corporate debtor.
Tribunal Cannot Rewrite Operational Creditor's Case: NCLT Mumbai
Case Title : Alliance Advertising and Marketing Pvt. Ltd. Vs Eduisfun Technologies Pvt Ltd
Case Number : C.P. (IB)/828(MB)2026
CITATION : 2026 LLBiz NCLT (MUM) 944
The National Company Law Tribunal (NCLT) at Mumbai has held that it cannot rewrite an operational creditor's insolvency case by separating invoices, determining different dates of default, and recalculating the debt when the creditor itself refused to amend its Section 9 application.
Case Title : Punjab National Bank v. Mr. Reji Abraham
Case Number : CP(IB)/177(CHE)/2026
CITATION : 2026 LLBiz NCLT (CHE) 945
The National Company Law Tribunal (NCLT) at Chennai has held that it cannot exercise extra-territorial jurisdiction over a personal guarantor where the underlying corporate debtors are foreign entities with no registered office in India.
“This Code being domestic legislation of limited territorial reach, confers no extra territorial jurisdiction upon the Adjudicating Authority to adjudicate obligations arising from entities situated beyond the sovereign and statutory framework of India. The Foreign Company though recognized for a certain limited Regulatory purposes under Chapter XXII of the Companies Act, 2013 do not become a Company within the meaning of Section 2(20) of the Companies Act, 2013 and cannot be brought within the fold of Section 3(7) of IBC without any express inclusion of a Foreign Company as a Corporate Debtor ” the tribunal observed.
Case Title : Think & Learn Pvt Ltd v. Aakash Educational Services Ltd and Ors
Case Number : CP 46/BB/2025
CITATION : 2026 LLBiz NCLT(BEN) 951
The National Company Law Tribunal at Bengaluru on Thursday deferred orders on the settlement between Byju's parent Think & Learn Private Limited and Aakash Educational Services Limited over Aakash's rights issue, directing the parties to first comply with several requirements.
IBC Amendment On Personal Guarantors Applies Retroactively To Pending Proceedings: NCLT New Delhi
Case Title : Equentia Financial Service Pvt. Ltd. v. Saloni Ayush Aggarwal
Case Number : : IA-798/ND/2026, IA-638/ND/2026, IA-972/ND/2026 in CP (IB)-652/ND/2025 CITATION : 2026 LLBiz NCLT (DEL) 949
The National Company Law Tribunal (NCLT), New Delhi held on 31 August that the 2026 amendment to Section 96 of the Insolvency and Bankruptcy Code, 2016 (IBC) applies retroactively to pending insolvency proceedings against personal guarantors to corporate debtors.
Appellate Challenge Affecting Resolution Plan Can Extend Timeline Under Plan Terms: NCLT Kolkata
Case Title : Mukesh Goyal v. CA Santanu Brahma & Ors.
Case Number : I.A. (IBC) No. 1880/KB/2025; I.A. (IB) No. 371/KB/2026; I.A. (IB) No. 911/KB/2026 in C.P. (IB) No. 1518/KB/2020
CITATION : 2026 LLBiz NCLT (KOL) 950
The National Company Law Tribunal (NCLT), Kolkata Bench, has held that where an approved Resolution Plan provides for exclusion of the period affected by appellate proceedings, the implementation timeline stands extended in accordance with the Plan without requiring a formal stay order or fresh approval by the Committee of Creditors (CoC).
Corporate Debtor's Sub-Threshold Default Does Not Bar Personal Guarantor Insolvency: NCLT Chennai
Case Title : Mrs V Lakshmi
Case Number : CP(IBC)/52(CHE)2025
CITATION : 2026 LLBiz NCLT(CHE) 952
The National Company Law Tribunal (NCLT) at Chennai on 15 September held that insolvency resolution proceedings can be initiated against a personal guarantor even when the corporate debtor's default is below the statutory threshold for initiating the Corporate Insolvency Resolution Process (CIRP).
Case Title : Jayanti Lal Jain, IRP of DK Infrastructure Pvt. Ltd. v. Arvind Mathur & Ors
Case Number : I.A. No. 4684 of 2024 in C.P. (IB) No. 644/MB/2020
CITATION : 2026 LLBiz NCLT (MUM) 953
The National Company Law Tribunal (NCLT), Mumbai, has ruled that a bank guarantee can be invoked and encashed during the moratorium imposed on a company undergoing insolvency proceedings. The bench of Judicial Member Vinay Goel and Technical Member Charanjeet Singh Gulati held that the bank guarantee in the case fell within the exception under Section 14(3)(b) of the Insolvency and Bankruptcy Code (IBC). The provision excludes a surety in a contract of guarantee to a corporate debtor from the operation of the moratorium.
Case Title : Shailendra Kataria, Authorised Representative of Creditors in Class (Homebuyers) v. Manish Lalji Dawda, Resolution Professional of Wadhwa Buildcon LLP
Case Number : IA/5387/2024 C.P. (IB)/2946(MB)2019
CITATION : 2026 LLBiz NCLT (MUM) 954
The National Company Law Tribunal (NCLT) at Mumbai on 11 September held that a Resolution Professional (RP) can re-verify claims admitted by an erstwhile RP when the available records disclose deficiencies, discrepancies or concerns regarding their authenticity. Such verification is part of the RP's statutory duty to maintain and update the list of creditors and does not amount to adjudication of disputed rights.
NCLT Ahmedabad Rejects Button Industries' Insolvency Plea Against Viaz Tyres Over ₹1.16 Crore Dues
Case Title : Button Industries Pvt Ltd vs Viaz Tyres Limited
Case Number : C.P.(IB)/482(AHM)2025
CITATION : 2026 LLBiz NCLT (AHM) 956
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on 24 September rejected an insolvency petition filed by Button Industries Private Limited against Viaz Tyres Limited over alleged dues of Rs. 1.16 crore.
Case Title : Rajputana Constructions Private Limited v. Rajasthan Land Holdings Limited
Case Number : IA(IBC) No. 155/JPR/2024
CITATION : 2026 LLBiz NCLT(JAI) 958
The National Company Law Tribunal (NCLT), Jaipur Bench, on Monday delivered a split verdict on whether it can grant blanket protection from statutory, civil, and penal consequences arising from alleged defaults during a company's Corporate Insolvency Resolution Process (CIRP). Technical Member Kavita Bhatnagar held that such consequences must be examined by the authorities empowered under the respective statutes, while Judicial Member Reeta Kohli took a contrary view and allowed the application seeking protection.
IBBI
IBBI Says Interim Moratorium For Personal Guarantors Ceased From May 26, 2026 Even In Pending Cases
In a circular issued on September 21, 2026, the Insolvency and Bankruptcy Board of India (IBBI) has clarified that the interim moratorium applicable to personal guarantors of corporate debtors under Sections 96 and 124 of the Insolvency and Bankruptcy Code (IBC) ceased to operate from May 26, 2026. The circular also applies to applications that were already pending before the Adjudicating Authority on that date.