NCLT Delhi Approves Flipkart's Plan To Merge Singapore Holding Entities Into Indian Arm

The National Company Law Tribunal (NCLT) at Delhi has approved a major restructuring of Walmart owned e-commerce platform Flipkart, clearing the way for the group to merge its Singapore holding entities into its Indian company and effectively consolidate its corporate domicile in India. A coram comprising Justice Ramalingam Sudhakar and Technical Member Ravindra Chaturvedi, on December 12,...

NCLAT Rejects Ex-Director's Plea for Resolution Plans in Aviom Housing Finance Insolvency

The National Company Law Appellate Tribunal (NCLAT) at Delhi has refused a suspended director of Aviom India Housing Finance Pvt. Ltd. access to resolution plans submitted during the company's insolvency process. The tribunal reiterated that once the board of a financial service provider is superseded by the Reserve Bank of India, former directors have no right to participate in the CIRP or...

NCLT Mumbai Admits Canara Bank's Plea Against SAB TV Group Company Krishna Showbiz Over ₹261 Crore Dues

The National Company Law Tribunal (NCLT) at Mumbai has admitted Canara Bank's plea against SAB TV promoter group company Krishna Showbiz Services Pvt Ltd, after finding that the firm had defaulted on dues of over Rs 261 crore. A bench of Judicial Member Nilesh Sharma and Technical Member Sameer Kakar held that Canara Bank had placed sufficient material on record to establish the existence...

NCLT Delhi Recalls Insolvency Admission Of V4 Infra After Finding Engineered Default

The National Company Law Tribunal (NCLT) at New Delhi has recalled its earlier order that had pushed V4 Infrastructure Pvt Ltd into insolvency, after finding that the process was misused to avoid paying an arbitral award that had already been upheld by the Delhi High Court. The tribunal also imposed a cost of Rs 5 lakh on the lender involved for abusing the insolvency law.A Bench of...

Auction Purchaser Not Liable For Corporate Debtor's Electricity Dues: NCLT Chandigarh Reiterates

The National Company Law Tribunal (NCLT) at Chandigarh has recently directed the Himachal Pradesh State Electricity Board to restore electricity to a property purchased in liquidation, holding in the case that the successful auction purchaser cannot be made liable for electricity dues owed by the corporate debtor prior to the auction sale. A coram of Judicial Member K Biswal and Technical...

NCLT Allahabad Approves First Motion For Demerger Of Umesh Modi Group Firm's Nutraceutical Business

The National Company Law Tribunal (NCLT) at Allahabad has approved the first motion application for a scheme of arrangement involving Umesh Modi Group's G S Pharmbutor Private Limited, for the demerger of its nutraceutical business into its wholly owned subsidiary, Modilac Private Limited. A bench of Judicial Member Praveen Gupta and Technical Member Ashish Verma passed the order on December...

NPA Classification Applies To Borrower, Not Individual Loan Facilities : NCLT Kolkata

The National Company Law Tribunal (NCLT) at Kolkata has, relying on RBI norms, held that NPA classification is borrower-wise and not facility-wise, and that once any credit facility of a borrower is declared NPA, all facilities extended by the bank must be treated as NPA for insolvency proceedings.A coram of Judicial Member Labh Singh and Technical Member Rekha Kantilal Shah, in an order...

Approval Of Tribunal Not Required To Appoint Monitoring Committee Chair Under IBC: NCLT Mumbai

The National Company Law Tribunal (NCLT) at Mumbai has recently held that neither the Insolvency and Bankruptcy Code nor the CIRP Regulations require tribunal approval for appointing the chairperson of a monitoring committee, and that its role is limited to ensuring that such a committee is constituted for implementation of an approved resolution plan. A monitoring committee is typically...

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...