LiveLawBiz: Business Law Daily Round-Up: December 13, 2025

TAX GST | Non-Mentioning Vehicle Number In Part-B Of E-Way Bill Is Curable Defect: Karnataka High CourtGST Abolished Ad Tax, Doesn't Bar Municipal Licence Fees on Hoardings: Bombay High CourtDelhi High Court Flags Validity Of Reports In IGST Refund Denial On Export Of Mouth Fresheners/Pan Masala; Directs Expeditious ExaminationDelhi HC To Hear IndiGo's Plea For ₹900+ Crore IGST &...

IRP Not Bound To Rely On Entity-Level Loan Documents In Project-Specific Insolvency: NCLT Bengaluru

The National Company Law Tribunal (NCLT) at Bengaluru has held that an Interim Resolution Professional may partially admit a financial creditor's claim where insolvency is confined to a single real estate project, and is not bound to mechanically accept entity-level loan claims. A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada, in an order dated...

Land Record Mutation During Moratorium Not Permissible: NCLT Mumbai In Kaved Realty Case

The National Company Law Tribunal (NCLT)at Mumbai has held, in a case concerning Kaved Realty Private Limited, that mutation of land records giving effect to a revenue order cannot be carried out after commencement of insolvency proceedings, as such action violates the moratorium under the Insolvency Code. A bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat...

SEBI Penalty Levied After Commencement Of Liquidation Not Admissible As Claim: NCLAT

The National Company Law Appellate Tribunal (NCLAT) at New Delhi on Friday held that penalties imposed by the Securities and Exchange Board of India (SEBI) after the commencement of liquidation cannot be admitted as claims under the Insolvency and Bankruptcy Code, rejecting SEBI's Rs 21.80 lakh claim against Annies Apparel Pvt. Ltd. A bench comprising Chaiperson Justice Ashok Bhushan...

Liquidator's Role Limited To Claim Verification, Not Dispute Resolution: NCLT Kochi

The National Company Law Tribunal (NCLT) at Kochi has clarified that a liquidator's role during liquidation is limited to verification and admission of claims, and that the liquidator cannot adjudicate or resolve disputes between a claimant and the corporate debtor, particularly when such disputes are pending before an arbitral tribunal. A coram of Judicial Member Vinay Goel and Technical...

Issuing Cheques For Another Entity's Dues Doesn't Create Operational Debt: NCLAT

The National Company Law Appellate Tribunal (NCLAT) at New Delhi has recently held that a company cannot be pushed into insolvency merely for issuing cheques on behalf of another entity, in the absence of a direct contractual relationship with the creditor. A coram comprising Justice Yogesh Khanna and Technical Member Ajai Das Mehrotra set aside an order of the National Company Law...

NCLAT Upholds Order Directing Dagcon's Former Directors To Contribute ₹10.54 Crore For Fraudulent Transactions

The National Company Law Appellate Tribunal (NCLAT) at New Delhi recently held that the former directors of the realty company Dagcon (India) Pvt. Ltd. must contribute Rs 10.54 crore to the company's assets for fraudulent transactions. The tribunal dismissed an appeal filed by suspended director Rana Sarkar and upheld an order of the National Company Law Tribunal at Kolkata.A bench...

Insolvency Plea Cannot Be Admitted When Information Utility Records Dispute: NCLAT New Delhi

The National Company Law Appellate Tribunal (NCLAT) held that a record of dispute in an Information Utility obligates the tribunal to reject an insolvency application filed by an operational creditor.A bench comprising Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra set aside the order initiating insolvency against OFB Tech Pvt. Ltd. on an appeal filed by the...

LiveLawBiz: Business Law Daily Round-Up: December 12, 2025

TAXCustoms | Goods Cannot Be Confiscated Solely On Local Market Survey/Opinion Without Proof Of Smuggling: CESTAT AllahabadCENVAT Credit Rules | Storage Of Finished Goods Outside Factory Due To Space Constraints Covered Under Rule 2(l); Credit Cannot Be Denied: CESTATIncome Tax Disputes Before HCs Doubled In Value Over Past Four Financial Years: Govt Tells Rajya SabhaCustoms Act | Mens...

IBC Doesn't Allow Extension of Personal Insolvency Process For Revisions Of Repayment Plan: NCLT Delhi

The National Company Law Tribunal (NCLT) at New Delhi has recently held that a personal guarantor cannot be granted repeated opportunities to revise a repayment plan once the statutory process under the Insolvency and Bankruptcy Code has run its course, and refused to allow any further extension of the personal insolvency resolution process. A coram comprising President Ramalingam Sudhakar...

NCLT Mumbai Approves ₹75 Crore IL&FS Financial Services–Siva Green Settlement

The National Company Law Tribunal (NCLT) at Mumbai recently approved a One Time Settlement of Rs 75 crore between Infrastructure Leasing and Financial Services Limited (IL&FS) and Siva Green Power Projects India Private Limited. It held that the proposal aligns with the IL&FS Group Resolution Framework mandated by the National Company Law Appellate Tribunal. A coram of Judicial...

NCLT Chandigarh Clears Demerger Of Freecharge's Business Correspondent And Technology Services Unit

The National Company Law Tribunal (NCLT) at Chandigarh has approved a scheme under which Freecharge Payment Technologies Private Limited will transfer its business correspondent activities and its technology service provider activities to a new entity, Freecharge Business and Technology Services Limited.The order was passed on December 10, 2025, by Judicial Member Khetrabasi Biswal and...