LiveLawBiz IBC Weekly Digest: August 24 - August 29, 2026

Supreme Court Upholds NCLAT Refusal To Entertain Allottee's Plea Seeking Refund Of Around ₹4 Lakh In Jaiprakash Associates CIRP

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.

NCLAT

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.

NCLT

'Other Creditor' Status Does Not Confer Unrestricted Right To Challenge Resolution Plan: NCLT Chandigarh

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

NCLT Indore Holds Mere Shareholding Overlap Can't Establish Collusion, Admits Plea Against Organic World

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.