NCLT Ahmedabad Dismisses Insolvency Plea Against Polycab India As Claim Fell Below ₹1 Crore After Adjustments

The National Company Law Tribunal (NCLT), Ahmedabad, has dismissed an insolvency petition against Polycab India Limited, one of India's largest manufacturers of electrical wires, cables and fast-moving electrical goods, holding that the alleged default fell below the Rs 1 crore threshold prescribed under the Insolvency and Bankruptcy Code (IBC). A bench of Judicial Member Shammi Khan...

Civil Court Cannot Grant Injunctions In NCLT Matters, High Court Can Set Them Aside: Kerala High Court

The Kerala High Court has recently reiterated that civil courts have no jurisdiction to entertain suits in matters that fall within the exclusive domain of the National Company Law Tribunal (NCLT). The court held that injunctions granted in violation of the Insolvency and Bankruptcy Code are "patently illegal" and liable to be struck down. The ruling was delivered by a single bench of...

Personal Guarantor Who Participated In NCLT Proceedings Can Appeal Insolvency Admission: NCLAT

The National Company Law Appellate Tribunal (NCLAT) at New Delhi has held that a personal guarantor who was permitted to participate in proceedings before the Adjudicating Authority qualifies as an “aggrieved person” entitled to maintain an appeal under the Insolvency and Bankruptcy Code against the admission of insolvency proceedings. The ruling came in an appeal filed by Ashwin Smith,...

Delhi High Court Temporarily Bars Sale Of FOXTEEL Hair Products Over Similarity With Bare Anatomy Trade Dress

The Delhi High Court has restrained the manufacture, sale and marketing of hair care products sold under the brand name 'FOXTEEL', holding that their packaging is deceptively similar to the 'Bare Anatomy' products of premium personal care company Onesto Labs Private Limited. Justice Tejas Karia, in an order passed on December 2, 2025, granted an ex-parte ad-interim injunction after finding...

Income Tax Act | Sikkim High Court Allows S.80P(2)(d) Deduction On Interest Earned From Co-operative Banks By Non-Bank Co-operative Society

The Sikkim High Court has held that a non-bank co-operative society is entitled to claim deduction under Section 80P(2)(d) of the Income Tax Act, 1961, on interest income earned from investments made with co-operative banks, and that Section 80P(4) does not bar such deduction. A Division Bench of Chief Justice Biswanath Somadder and Justice Meenakshi Madan Rai allowed the tax appeal...

Homebuyers Can Invoke IBC Against Developer Despite Pending RERA Case Over Project Delay: NCLT Kochi

The National Company Law Tribunal (NCLT) at Kochi has held that homebuyers are not barred from invoking insolvency proceedings merely because complaints over project delays are pending before the Real Estate Regulatory Authority (RERA, as long as financial default and distress are established under the Insolvency and Bankruptcy Code. Admitting a Section 7 application filed by 30...

NCLT Mumbai Clears Capital Reduction of Company Behind Tax Sutra

The National Company Law Tribunal (NCLT) at Mumbai has approved the reduction of share capital of Realtime Taxsutra Services Pvt Ltd from Rs 1.61 lakh to Rs 1.46 lakh, clearing the proposal of the company that operates an online platform providing real-time updates on tax disputes, judicial rulings and regulatory developments. The approval was granted by a bench comprising Judicial Member...

Customs | Alleged Export Through Non-Specified Routes Must Be Proved; Presumption Insufficient To Uphold Seizure: CESTAT Kolkata

The Kolkata Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) held that seizure of goods cannot be sustained merely on the assumption that they were intended for export through non-specified routes. In the absence of any corroborative evidence establishing intent to export illegally, such presumption alone is insufficient to justify such...

UP REAT Orders Probe Into Planning Norm Violations By Greater Noida Authority In Godrej Golf Links Project

The Uttar Pradesh Real Estate Appellate Tribunal (UP REAT) has ordered a government probe into the role of the Greater Noida Industrial Development Authority in granting approvals for the Godrej Golf Links township in Greater Noida, holding that apparent violations of the planning scheme “call for inquiry/investigation as per law”.The tribunal directed the Principal Secretary, Housing...

Clause 8 Of Assam GST Reimbursement Scheme Prima Facie Ultra Vires: Gauhati High Court Stays SCN Against Patanjali Foods

The Gauhati High Court found that Clause 8 of the Assam Industries [Tax Reimbursement for Eligible Units] Scheme, 2017, which restricts input tax credit, runs contrary to the Constitutional framework and the provisions of the CGST Act. Consequently, the bench stayed the operation of the show-cause notices (SCN) issued to Patanjali Foods Limited. Justice Manish Choudhury was addressing...

NCLT Mumbai Approves Ashdan Properties' Rs 900 Crore Plan To Revive Rolta India

The National Company Law Tribunal (NCLT) at Mumbai has approved a Rs 900 crore resolution plan submitted by Ashdan Properties Pvt Ltd to revive debt-laden Rolta India Ltd, holding that once a plan complies with insolvency law, the tribunal cannot interfere with the commercial decisions taken by lenders. A bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat...

IBC | All Property, Including Alleged Benami Assets, Shielded From Action Over Pre-Resolution Offences: Madras High Court

The Madras High Court has recently held that once a resolution plan is approved under the Insolvency and Bankruptcy Code, authorities cannot proceed against any property standing in the name of a corporate debtor for offences committed before the insolvency process, even if such property is alleged to be held benami. A single bench of Justice G R Swaminathan ruled that Section 32A(2) of...