LiveLawBiz IBC Weekly Digest: April 13 - April 18
Kirit Singhania
19 April 2026 11:15 AM IST
SUPREME COURT
Case Title : Nitendra Kumar Tomer, Suspended Director, Ambro Asia Private Limited versus Unox S.P.A. and another
Case Number : Civil Appeal No. 3607 of 2026
CITATION : 2026 LLBiz SC 150
The Supreme Court has dismissed an appeal filed by a suspended director of Ambro Asia Pvt. Ltd., holding that once an Interim Resolution Professional (IRP) is appointed and the management of the corporate debtor vests in it, a suspended director cannot maintain an appeal in the company's name under the Insolvency and Bankruptcy Code.
In a judgment delivered on April 10, a bench of Justices Sanjay Kumar and K. Vinod Chandran said that after admission of insolvency proceedings and appointment of the IRP, it is not open to a suspended director to file or maintain an appeal in the name of the corporate debtor.
Case Title : BHARTIYA MAZDOOR SANGH, U.P. & ANR. VERSUS STATE OF U.P. & OTHERS
Case Number : WRIT PETITION (CIVIL) NO. 392 OF 2015
CITATION : 2026 LLBiz SC 152
The Supreme Court on Wednesday refused to invoke its powers under Article 142 of the Constitution, which allows it to pass orders to do complete justice, to condone illegalities in a long-running dispute involving defunct Jaipur Udyog Ltd. (JUL), directing disbursal of workers' dues estimated at over Rs. 100 crore and appointment of an administrator to oversee the process. Separately, the court directed the deposit of Rs 51 crore realised from the sale of the Kanpur unit for utilisation towards workers' dues.
Case Title : PAHARPUR COOLING TOWERS LIMITED Versus SINNAR THERMAL POWER LIMITED AND ORS
Case Number : SLP (C) 12367 of 2026
CITATION: 2026 LLBiz SC 159
The Supreme Court on Friday dismissed the special leave petition filed by Paharpur Cooling Towers Ltd. against Sinnar Thermal Power Ltd., effectively affirming the Delhi High Court's order dated February 11, which held that once a resolution plan is approved under the Insolvency and Bankruptcy Code (IBC), claims cannot be pursued through parallel arbitral award execution proceedings. A Bench of Justices Pamidighantam Sri Narasimha and Alok Aradhe, after hearing the parties, dismissed the petition, finding no ground for interference with the high court order. Justice Narasimha also orally termed the plea an “abuse of process."
HIGH COURT
Case Title : Kotak Mahindra Bank Limited v. State of Karnataka and Anr
Case Number : Writ Petition No. 30541 of 2025
CITATION : 2026 LLBiz HC (KAR) 51
The Karnataka High Court has held that when a Constitutional Court issues directions concerning immovable properties situated in another State, authorities where such properties are located are duty-bound to implement them. Justice Sachin Shankar Magadum was hearing a petition filed by Kotak Mahindra Bank Limited, a secured creditor of Electrex (India) Limited, seeking implementation of directions issued by the Bombay High Court concerning certain sale transactions involving mortgaged properties in Bengaluru.
Case Title : Maha Hotel Projects Private Limited vs. State of Telangana and Ors.
Case Number : WRIT APPEAL No.27 of 2026
CITATION : 2026 LLBiz HC (TEL) 15
The Telangana High Court has upheld the State's decision to grant consent for a change in control of a Hyderabad hotel project under an insolvency resolution plan, holding that a shareholder cannot claim a vested right to retain control over the corporate debtor and that any loss suffered is merely a commercial consequence of the insolvency process, not a deprivation of property under Article 300A.
NCLAT
Case Title : Omkaram Venkata Ramana v. Bank of India and Anr
Case Number : Company Appeal (AT) (CH) (Ins) No.123/2023; (IA Nos.419, 421 & 420/2023) CITATION : 2026 LLBiz NCLAT 151
The National Company Law Appellate Tribunal (NCLAT), Chennai Bench, has held that the power of the Adjudicating Authority under Section 114(3) of the Insolvency and Bankruptcy Code, 2016 to direct modification of a repayment plan is not obligatory and can be exercised only when supported by material on record. The tribunal dismissed an appeal filed by a personal guarantor to loans availed by the Nithin Group of Companies from Bank of India, challenging the order of the National Company Law Tribunal, Amaravati Bench at Mangalagiri, which had accepted the Resolution Professional's report recording rejection of his repayment plan by the Committee of Creditors.
No Appeal Lies Against Dismissal Of Contempt Plea Without Punishment: NCLAT
Case Title : Venkata Chalam Varanasi v. Mr. Upender Kumar Agarwal
Case Number : Company Appeal (AT) (CH) (INS) No. 189 / 2026
CITATION : 2026LLBiz NCLAT 152
The National Company Law Appellate Tribunal (NCLAT) at Chennai has recently reiterated that an appeal against dismissal of a contempt petition is not maintainable where no punishment has been imposed. The bench of Judicial Member Justice Sharad Kumar Sharma and Technical Member Jatindranath Swain fater examining the Contempt of Courts Act, observed, “Section 19(1) envisages Appeal against only those orders where a punishment has been inflicted for contempt. In the instant case, no punishment has been awarded.”
Case Title : Rashtriya Mill Mazdoor Sangh, Bombay Vs National Textile Corporation Limited Case Number : Company Appeal (AT) (Insolvency) 1704/2025
CITATION : 2026 LLBiz NCLAT 157
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently upheld the rejection of an insolvency plea filed by Rashtriya Mill Mazdoor Sangh against National Textile Corporation Ltd., finding that disputes over wage dues were already pending, indicating a pre-existing dispute between the parties. A Bench of Justice Ashok Bhushan and Technical Member Barun Mitra observed, “The scope of Section 9 of IBC cannot be bent to use it as an instrument for debt recovery as the focus of IBC is on ensuring the revival and continuation of the corporate debtor rather than facilitating recovery of the debt owed by the corporate debtor to its creditors"
Case Title : Art Construction Pvt Ltd Vs Udayraj Patwardhan RP of Adel Landmarks Ltd & Ors Case Number : Company Appeal (AT) (Insolvency) 460/2026
CITATION : 2026 LLBiz NCLAT 155
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently set aside an order of the National Company Law Tribunal that had sent the resolution plan of real estate developers, Adel Landmarks Ltd., back to the Committee of Creditors for reconsideration. The appellate tribunal held that the direction amounted to an "unwarranted" interference with the commercial wisdom of the creditors, even though the plan had already been approved with an 82.66% voting share after multiple rounds of deliberations.
Case Title : Suniel Dhhandhania and Anr v. Dr. Vichitra Narayan Pathal
Case Number : Company Appeal (AT) (Ins) No. 841 of 2024
CITATION : 2026 LLBiz NCLAT 156
The National Company Law Appellate Tribunal (NCLAT) at Delhi has upheld the liability of former directors of Golden Tobacco Ltd. for failing to deposit employee salary deductions with a credit society. It held that diversion of such funds, even without personal gain, may constitute fraudulent conduct under Section 66 of the Insolvency and Bankruptcy Code.
NCLAT Refuses To Halt Carnival Techno Park CIRP, Says Fraud Plea Cannot Reopen Finding Of Default
Case Title : Canara Bank Vs Bhavesh Mansukhbai Rathod, IRP & Ors
Case Number : Company Appeal (AT) (Insolvency) 556/2025 & 588/2025
CITATION : 2026 LLBiz NCLAT 159
The National Company Law Appellate Tribunal (NCLAT) has refused to halt insolvency proceedings against Carnival Techno Park Pvt. Ltd., holding that Canara Bank cannot challenge the existence of debt and default through a plea alleging fraudulent initiation of the process. A Bench of Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra said the bank failed to show any fraud in the initiation of the process.
Case Title : Shivani Enterprises Vs S Square Cargo Movers Pvt Ltd
Case Number : Company Appeal (AT) (Insolvency) 463/2026
CITATION : 2026 LLBiz NCLAT 158
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently upheld the dismissal of a Section 9 CIRP application filed by Shivani Enterprises against S Square Cargo Movers Pvt. Ltd. It held that the interest component reflected in the invoices was not mutually agreed between the parties and could not be included in the operational debt.
NCLT
Case Title : Dr. Shailendra Trivedi Vs Chhaya Gupta
Case Number : IA No. 157 OF 2024 in TP 230 of 2019
CITATION : 2026 LLBiz NCLT (IND) 329
The National Company Law Tribunal (NCLT) at Indore has held that homebuyers cannot be prejudiced by an internal transfer of a real estate project, emphasising that their rights are not merely contractual but tied to the right to life. A coram of Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta, underlining the constitutional dimension of such claims, observed that such rights cannot be viewed purely as contractual.
Case Title : Dilip Yadav Vs Chaya Gupta &Devvrat Developers Private Limited
Case Number : IA No. 22 OF 2026 in CP(IB) 56 of 2021
CITATION : 2026 LLBiz NCLT (IND) 328
The Indore bench of the National Company Law Tribunal (NCLT) has rejected a homebuyer's plea for possession of a flat, holding that a claim filed nearly eighteen months after approval of the resolution plan cannot be entertained. Observing that permitting such belated claims would disrupt the resolution process, the bench of Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta held, “The Successful Resolution Applicant takes over the Corporate Debtor on the basis of the liabilities crystallized in the approved Resolution Plan and therefore permitting additional claims at a later stage would fundamentally alter the commercial framework of the plan”
Case Title : Madan Gopal Jindal, Resolution professional of M/s White Water Hospitality Private Limited v . VIR Foods and ors.
Case Number : I.A. No. 2162/2023 in CP (IB) No. 90/Chd/Chd/2018
CITATION : 2026 LLBiz NCLT (CHA) 332
The National Company Law Tribunal (NCLT) at Chandigarh has held that in the present case, where a corporate insolvency process was set aside and the parties settled their dispute, the costs incurred during the process must be borne by the financial creditor that initiated it. A coram of Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal said, “It can be seen that once the admission of CIRP itself is set aside and the dispute is settled between the initiating Financial creditor and the CD, the liability to bear CIRP costs must follow the party who invoked and pursued the insolvency proceedings, particularly when the CIRP process did not culminate in resolution or liquidation and a settlement was reached between them."
No New Claims Maintainable After CIRP Settled In White Water Hospitality Case: NCLT Chandigarh
Case Title : Bharat Food and Agro Products v. White Water Hospitality Private Limited and Ors. Case Number : IA(IBC) 713(CH)2025 AND IA(IBC)714(CH)2025 IN CP (IB) No. 90/Chd/Chd/2018(Admitted)
CITATION : 2026 LLBiz NCLT (CHA) 333
The National Company Law Tribunal at Chndigarh has held that in the case of a company whose insolvency process was set aside by the Supreme Court and whose dues to the initiating financial creditor were paid, the insolvency process comes to an end and all steps taken during it lose their legal basis. The order was passed by a coram of Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal while deciding pleas filed by Bharat Food and Agro Products and its partner, Kamal Kant Dewan in the CIRP of White Water Hospitality Private Limited
Case Title : ADM Agro Industries Kota & Akola Pvt Ltd Vs Bari Foods Pvt Ltd
Case Number : CP(IB)/56(MP)2023
CITATION : 2026 LLBiz NCLT (IND) 330
The National Company Law Tribunal (NCLT) at Inodre has rejected a Rs 2.56 crore insolvency plea by ADM Agro Industries Kota & Akola Pvt. Ltd. against Bari Foods Pvt. Ltd., holding that disputes over contract formation, resale of goods and quantification of losses constitute a genuine pre-existing dispute beyond the scope of summary proceedings under the Insolvency and Bankruptcy Code. The bench of Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta said the issues required detailed examination of facts and evidence and could not be decided under Section 9 of the Code.
Case Title : State Bank of India vs Venugopal Nandlal Dhoot
Case Number : CP (IB) 1197 OF 2020
CITATION : 2026 LLBiz NCLT (MUM) 334
The National Company Law Tribunal at Mumbai has admitted a personal insolvency application filed by State Bank of India against Venugopal Nandlal Dhoot, promoter of the Videocon Group and personal guarantor to Videocon Industries Limited and Videocon Telecommunications Limited, involving a default of Rs 6,157 crore. A Bench of Judicial Member Nilesh Sharma and Technical Member Charanjeet Singh Gulati admitted the application filed under Sections 95 and 97 of the Insolvency and Bankruptcy Code, on finding that the requirements of the provision stood satisfied.
Case Title : Satish GopalKrishna Pillai v. Mr. Vinesan Gopinathan and Ors.
Case Number : Contempt Petition (IBC)/5/ KOB/2025 IN IA(IBC)/97/KOB/2023
CITATION : 2026 LLBiz NCLT (KOC) 335
The National Company Law Tribunal at Kochi has held that once a final order is passed in a matter, all acts and issues arising during the pendency of the proceedings stand merged in that order, and any alleged breach of interim directions cannot later be used to initiate contempt proceedings for past acts.
A Bench of Judicial Member Vinay Goel observed: “Upon finalisation of the proceedings, all acts and matters arising during the pendency of the proceedings stand merged in the final order. Any alleged breach or disobedience of such interim orders would not give rise to a fresh cause of action to initiate contempt proceedings at a later stage for past acts. Further, the Petitioner is well within its rights to seek execution of the order in accordance with law.”
NCLT New Delhi Admits CIRP Against Madhuvan Tieup, Rejects Corporate Debtor's NBFC Claim
Case Title : HDFC Bank Limited vs Madhuvana Tieup Limited
Case Number : CP (IB)- 25/ND/2023
CITATION : 2026 LLBiz NCLT (DEL) 336
The New Delhi National Company Law Tribunal (NCLT), on 6 April admitted the Corporate Insolvency Resolution Process (CIRP) of Madhuvan Tieup Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016, for a default of approximately Rs 80.78 crore. A Bench comprising Judicial Member Ashok Kumar Bhardwaj and Technical Member Reena Sinha Puri rejected the Corporate Debtor's claim that it was a Non-Banking Financial Company (NBFC), holding that it did not engage in financial services as defined under the Code.
Case Title : Manoj Chandrakant Jagirdar
Case Number : IVN. P. (I.B.C)/186/MB/2025 IN CP(IB) No. 7 of 2023
CITATION : 2026 LLBiz NCLT (MUM) 338
The National Company Law Tribunal (NCLT) at Mumbai has reiterated that the powers of a Resolution Professional and Liquidator under the Insolvency and Bankruptcy Code, 2016 (“IBC”) are confined strictly to assets owned by the Corporate Debtor, and do not extend to properties belonging to third parties even if such assets are reflected in the Corporate Debtor's records.
The Bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar observed, "It is trite that the powers of the Insolvency Professional under Section 18 and Section 25 of the Code, and of the Liquidator under Section 35, extend only to assets owned by the Corporate Debtor. The Code does not empower the RP/Liquidator to take control of assets belonging to third parties or deal with the rights of third parties in assets even if existing in name of the corporate debtor."
Case Title : DBS Bank India Limited v. Orchid Pharma Limited and Ors
Case Number : IA(IBC) 784/(CHE)/2020
CITATION : 2026 LLBiz NCLT (CHE) 339
The National Company Law Tribunal (NCLT) at Chennai has dismissed an application by DBS Bank India Ltd seeking over Rs. 46 crore in lease rentals and CIRP-related expenses in the insolvency of Orchid Pharma Ltd, holding that in the present case such claims cannot be treated as Insolvency Resolution Process Costs in the absence of approval by the Committee of Creditors and cannot be raised after approval of the resolution plan.
Resolution Professional Cannot Convene Creditors' Meeting Without Repayment Plan: NCLT Kochi
Case Title : State Bank of India Vs. Ms. Sanam Basheer
Case Number : IA(IBC)/136/KOB/2026
CITATION : 2026 LLBiz NCLT (KOC) 341
On 13 April, the Kochi Bench of the National Company Law Tribunal (NCLT) held that, in the absence of a repayment plan, insolvency proceedings against a personal guarantor cannot proceed to the stage of convening a creditors' meeting and the Resolution Professional must file a report recording such non-submission.
Case Title : M/s Capt. Praveen Sharma and Ors v. M/s Official Liquidator, Kingfisher Airlines (under Liquidation) and Ors
Case Number : CP No. 20/BB/2026
CITATION : 2026 LLBiz NCLT (BEN) 344
The National Company Law Tribunal (NCLT) at Bengaluru has dismissed an application filed by former employees of Kingfisher Airlines seeking disbursement of their admitted salary dues, holding that the Karnataka High Court, which is supervising the winding-up proceedings, is the appropriate forum. A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada passed the order.
Case Title : J.C. Flowers Asset Reconstruction Pvt. Ltd. Vs Imagine Habitat Private Limited, Imagine Residence Private Limited, Imagine Home Private Limited and Imagine Estate Private Limited
Case Number : C.P.(IB) – 30/ND/2026, C.P.(IB) – 31/ND/2026, C.P.(IB) – 32/ND/2026 And C.P.(IB) – 36/ND/2026
CITATION : 2026 LLBiz NCLT (DEL) 345
The Delhi Bench of the National Company Law Tribunal (NCLT) has admitted four CIRP pleas filed by JC Flowers Asset Reconstruction Pvt. Ltd. against subsidiaries of RAB Enterprises (India) Private Limited, a group promoted by Rana Kapoor and Bindu Kapoor. The proceedings have been initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016. The order, delivered on April 7, 2026, was passed by Judicial Member Ashok Kumar Bhardwaj and Technical Member Reena Sinha Puri.
Mere Non-Explanation Of Fund Use Not Enough To Prove Fraudulent Trading Under IBC: NCLT Chennai
Case Title : Mr. K Sivalingam v. Singaravelu Ravindranathan and Ors
Case Number : IA(IBC)/173/2021 in CP/885/IB/CHE/2018
CITATION : 2026 LLBiz NCLT (CHE) 346
The National Company Law Tribunal (NCLT) in Chennai has held that mere non-explanation of fund utilisation or irregular accounting, without clear evidence of intent to defraud creditors, is insufficient to invoke fraudulent trading under Section 66 of the Insolvency and Bankruptcy Code. Examining the scope of Section 66, the Tribunal held that mere inability to explain fund utilisation in a business context does not meet the statutory requirement unless accompanied by clear evidence of intent to defraud.
NCLT Chandigarh Refuses To Restrain Sale Of White Water's Panchkula Land After CIRP Set Aside
Case Title : Kamal Kant Dewan & Bharat Food and Agro Products Vs White Water Hospitality Private Limited & VIR Foods Ltd.
Case Number : I.A. No. 427/2024 in CP (IB) No. 90/Chd/Chd/2018
CITATION : 2026 LLBiz NCLT (CHA) 347
The National Company Law Tribunal (NCLT) at Chandigarh recently held that once a corporate insolvency process is set aside and the payment directed by the Supreme Court is complied with, it cannot restrain a company from dealing with its assets in the absence of a statutory moratorium that arises only upon admission of insolvency proceedings.
A Bench of Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal said, “Once the CIRP is set aside and gets terminated, the CoC stands disbanded and becomes functus officio. Any recognition of claims during a period of CIRP that has since been declared void or set aside, cannot form the basis for an interlocutory restraint on a solvent company's assets. It does not provide a ground for this Tribunal to interfere with the commercial autonomy of a Respondent No.1 against which no insolvency proceeding is currently pending.”
Case Title : State Bank of India v. Adhunik Alloys and Power Limited and Ors.
Case Number : I.A (I.B.C) No. 521/KB/2021 In C.P (I.B.C) No. 387/KB/2017
CITATION : 2026 LLBiz NCLT (KOL) 348
The National Company Law Tribunal at Kolkata has held that its jurisdiction cannot be invoked after approval of a resolution plan to seek disclosure of CIRP documents or reopen settled issues. A bench of Judicial Member Bidisha Banerjee and Technical Member Siddharth Mishra said that once a plan is approved, “any claims not included in the plan are generally extinguished, preventing further disputes or litigation, ensuring a 'Clean Slate' for the successful resolution applicant.”
Case Title : Savithri Naidu and Ors v. Mr. Ebenezar Inbaraj
Case Number : IA No. 1160 of 2025 in CP/IB/1423/CHE/2019
CITATION : 2026 LLBiz NCLT (CHE) 349
Holding that parties cannot “cherry-pick” between an arbitral award and a subsequent settlement to maximize recovery, the National Company Law Tribunal (NCLT) at Chennai dismissed a plea by landowners who sought Rs. 62.72 crore despite having agreed to settle their dues at Rs. 45 crore.
A bench of Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy passed the order in the insolvency of Landmark Housing Projects Chennai Private Limited, upholding the liquidator's decision to admit the claim to the extent of Rs 45 crore and classify the landowners as operational creditors.
NCLT Kochi Approves Associated Alcohols' Resolution Plan For SDF Industries Revival
Case Title : Ramachandran Thekkumkat Madathil
Case Number : IA(IBC)(Plan)/01/KOB/2026 IN CP(IBC)/21/KOB/2024
CITATION : 2026 LLBiz NCLT (KOC) 353
The National Company Law Tribunal at Kochi on Thursday approved a resolution plan submitted by Associated Alcohols & Breweries Limited for the revival of SDF Industries Limited. A coram of Judicial Member Vinay Goel allowed the application filed by the Resolution Professional of SDF Industries, noting that the plan had been approved by the Committee of Creditors with a 100% voting share and complied with all statutory requirements.
Auction Of Corporate Debtor's Assets Under Depositors Act During IBC Moratorium Void: NCLT Indore
Case Title : CMA Shaikh Nafis Anjum Vs The Tehsildar, Bhkhara & Anr
Case Number : IA (I.B.C)/107/MP/2022 inTP 20 of 2019 [CP(IB) 358 of 2019]
CITATION : 2026 LLBiz NCLT (IND) 352
On 8 April, the Indore Bench of the National Company Law Tribunal (NCLT) set aside the auction of Suvidha Farming Ltd.'s assets conducted under the Chhattisgarh Protection of Interest of Depositors Act, 2005, holding that the sale was void as it took place during the moratorium period under the Insolvency and Bankruptcy Code (IBC), 2016. A Bench of Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta directed restoration of possession of the property to the Liquidator.
NCLT Mumbai Admits APRN Enterprises Insolvency Case, Emphasises Courts Cannot Rewrite Contracts
Case Title : APRN Enterprises Pvt Ltd vs Marveledge Realtors Pvt Ltd
Case Number : CP(IB)/732/2025
CITATION : 2026 LLBiz NCLT (MUM) 355
The Mumbai Bench of the National Company Law Tribunal (NCLT) on 6 April held that courts and tribunals cannot rewrite contracts and must enforce the bargain as agreed between parties, unless the agreement is vitiated by fraud, coercion, or illegality. A Bench of Judicial Member Nilesh Sharma and Technical Member Sameer Kakar admitted an insolvency application filed by APRN Enterprises Pvt Ltd against Marveledge Realtors Pvt Ltd.
Case Title : BEML Limited vs Padma Priyanka Vangala
Case Number : I.A No. 780 of 2024
CITATION : 2026 LLBiz NCLT (HYD) 358
The National Company Law Tribunal (NCLT), Hyderabad, has recently set aside the rejection of a Rs.2.57 crore claim filed by BEML Limited against BEML Midwest Limited, finding that the liquidator's decision was not based on a complete and proper examination of the material on record and that the claim needed verification. The bench of Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri said that incomplete documentation by itself could not end the matter and that the claim had to be properly verified.
Dissenting Financial Creditor Cannot Interfere Between SRA and RP After Plan Approval: NCLT Kochi
Case Title : Kerala Financial Corporation v. Sharon Hills Residential Association and Ors
Case Number : IA(IBC)/73/KOB/2026 in IA(IBC)/99/KOB/2025 in CP(IB)/05/KOB/2021 CITATION : 2026 LLBiz NCLT (KOC) 358
The National Company Law Tribunal (NCLT) at Kochi has held that a dissenting financial creditor cannot interfere in issues between the Successful Resolution Applicant (SRA) and the Resolution Professional after approval of a resolution plan. The tribunal dismissed an impleadment application filed by Kerala Financial Corporation in proceedings relating to implementation of the approved plan for Samson and Sons Builders and Developers Pvt. Ltd.
NCLT Bengaluru Admits CIRP Against Vivimed Labs Over ₹2.78 Crore Operational Debt
Case Title : Blue Cube Germany Assets GmbH & Co KG v. Vivimed Labs Limited
Case Number : CP(IB) No. 91/BB/2025
CITATION : 2026 LLBiz NCLT (BEN) 359
The National Company Law Tribunal, Bengaluru, has admitted CIRP against Vivimed Labs Ltd., a listed pharma company, for default of operational debt of Rs. 2.78 crore (inclusive of interest) in a petition filed by Blue Cube Germany Assets GmbH & Co KG. The bench, comprising Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada, made it clear that a company cannot avoid insolvency proceedings simply because a civil court has already passed a decree or because execution proceedings are underway.
Freezing Bank Accounts Of Corporate Debtor During Insolvency Violates Moratorium: NCLT Ahmedabad
Case Title : Wind World (India) Ltd. Vs IDBI Bank Ltd. & Mining Engineer, (Recovery) Mines and Geology Department, Jaisalmer
Case Number : IA No. 1278 of 2023 in C.P.(1.B.) No.14/7/(AHM)/2018
CITATION : 2026 LLBiz NCLT (AHM) 356
The National Company Law Tribunal (NCLT) at Ahmedabad has held that freezing a company's bank accounts during insolvency violates the moratorium under the Insolvency and Bankruptcy Code, directing IDBI Bank to lift all liens and restore operations in the accounts of Wind World (India) Ltd.