NCLT Delhi Dismisses Diwan Spirits Insolvency Plea Against Khao Gali Restaurants

The National Company Law Tribunal (NCLT) at New Delhi, has refused to push Khao Gali Restaurants Pvt. Ltd. into insolvency on a plea by liquor wholesaler Diwan Spirits.It held that the dispute between the parties is not a clear case of non-payment but one that turns on reconciliation of accounts under the now scrapped Delhi Excise Policy 2021–22. A bench of Judicial Member Manni...

Contractor Who Stayed Silent During CIRP and Liquidation Cannot Reclaim Auctioned Machinery: NCLT Mumbai

The National Company Law Tribunal (NCLT) at Mumbai has recently held that a contractor cannot seek compensation or get back machinery auctioned during liquidation if it remained silent throughout the corporate insolvency resolution process and liquidation. A bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar dismissed an application filed by Ahluwalia...

Covid-Era Insolvency Protection Applies Only To Companies, Not Personal Guarantors: NCLAT Reaffirms

The National Company Law Appellate Tribunal (NCLAT) at New Delhi, has recently reiterated that that the Covid-era suspension under the Insolvency and Bankruptcy Code does not protect personal guarantors from insolvency proceedings. The appellate tribunal ruled that the suspension applies only to companies and does not bar creditors from initiating insolvency proceedings against individuals...

NCLT Hyderabad Declares Former Deccan Chronicle Promoter T Venkatram Reddy Bankrupt

The National Company Law Tribunal (NCLT) at Hyderabad has declared Tikkavarapu Venkatram Reddy, former promoter of Deccan Chronicle Holdings Limited, the publisher of the Deccan Chronicle newspaper, bankrupt after he failed to submit a repayment plan as a personal guarantor for the company's borrowings.A bench of Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri, while allowing...

Merely Mortgaging Property Without Lending Money Does Not Create Financial Debt : NCLT Hyderabad

The National Company Law Tribunal (NCLT) at Hyderabad has held that a person who only mortgages his property as collateral security cannot be treated as a financial creditor of the borrower if he has not advanced any money. A bench of Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri said the insolvency law can be invoked only if there is a financial debt, which...

Amendment Of Date Of Default Allowed Before Final Adjudication: NCLAT Reiterates

The National Company Law Appellate Tribunal at New Delhi has recently held that amendment of the date of default in insolvency proceedings against a personal guarantor is permissible before final adjudication. It ruled that limitation must be examined when the insolvency application is decided on merits. A bench comprising Chairperson Justice Ashok Bhushan, Chairperson, and Technical...

Asset Transfers After SARFAESI Notice Void, NCLAT Upholds Order Against Aaj Ka Anand Ex-Directors

The National Company Law Appellate Tribunal (NCLAT) at New Delhi on Friday held that agreements transferring a company's business after issuance of a bank recovery notice under the SARFAESI law are void and unenforceable. A bench comprising Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra upheld the order passed by the National Company Law Tribunal, Mumbai, which had...

LiveLawBiz: Business Law Daily Round-Up: December 19, 2025

TAX “Illegal, Arbitrary & Colourable Exercise Of Power": Karnataka High Court Quashes Consolidated GST Show Cause Notice Clubbing Multiple FYsSVLDR Scheme Can't Be Invoked For Fresh SCN Issued After Deadline Even If Arising From Same Dispute: Delhi High CourtWrit Petition Not Maintainable After GSTAT Becomes Functional; Assessees Must Avail Remedy U/S 112 GST Act: Orissa High CourtGST Act...

Refusal Of Demand Notice at MCA-Registered Office Amounts To Valid Service: NCLAT

The National Company Law Appellate Tribunal at New Delhi has ruled that a demand notice sent by an operational creditor and returned with the postal endorsement “refused” from the corporate debtor's MCA-registered office amounts to valid service under the insolvency rules. A bench of Justice Mohd Faiz Alam Khan and Technical Member Indevar Pandey set aside an order of the National...

GST Amnesty Relief Cannot Be Granted By Tribunal, Parties Must Approach Writ Courts: NCLT Mumbai

The National Company Law Tribunal (NCLT) at Mumbai has held that it has no jurisdiction to relax conditions or grant benefits under a statutory GST immunity or amnesty scheme. Such relief, it said, can be granted only by constitutional courts exercising writ jurisdiction. A bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar said the tribunal's powers under...

Parliamentary Panel Pushes For Fast-Track Insolvency Courts, More NCLT Benches

A Parliamentary Standing Committee on Finance has recently recommended exploring the creation of dedicated fast-track insolvency benches for fixed periods to shoulder insolvency resolution burden of existing benches. Besides that, the committee has also highlighted urgency to increase the number of National Company Law Tribunal (NCLT) benches across India to tackle pending and growing delays...

NCLT Delhi Clears First Stage of Haryana Distillery's Plan to Acquire 10 Companies

The National Company Law Tribunal (NCLT), New Delhi, has cleared the first motion of a composite scheme under which Delhi based-Haryana Distillery Limited proposes to acquire and merge 10 privately held group companies into itself. The tribunal however directed that shareholder meetings must be held even though more than 90% of shareholders had consented to the scheme. A bench of Judicial...