How 2025 Reshaped Boundaries Of Resolution Estate Under Insolvency And Bankruptcy Code 2016

November 2025, brought with it major advancements into the debt restructuring ecosystem of India that reshape the contours of India's resolution estate under the Insolvency and Bankruptcy Code, 2016 ('the Code')[1].First is the circular dated 4th November 2025 ('the Circular') issued by the Insolvency and Bankruptcy Board of India ('IBBI') which permits insolvency professionals to seek restoration of assets attached under the provision of Prevention of Money Laundering Act, 2002 ('PMLA')[2],...

S. 9 IBC | Debtor's Ledger Acknowledging Debt & Post-Notice Payments Negate Defence Of Pre-Existing Dispute: Supreme Court

CIRP cannot be defeated by a corporate debtor by raising "moonshine defence" only to delay the process, the Court said.

Reliance Capital Insolvency: NCLAT Issues Notice On SEBI's Challenge To Plan Clause Allegedly Shielding Subsidiary From Penalties

The National Company Law Appellate Tribunal on Friday issued notice on SEBI's appeal challenging an NCLT Mumbai order that refused to recall or clarify a paragraph in the Reliance Capital resolution plan which, according to SEBI, is being misused to claim that all liabilities of the company's subsidiaries also stand extinguished. SEBI says this interpretation is being deployed by a...

NCLT Bengaluru Admits Cauvery Neeravari Nigam To Insolvency Over ₹9.36 Crore Default

The National Company Law Tribunal (NCLT) at Bengaluru on Wednesday admitted a Karnataka government undertaking Cauvery Neeravari Nigam Limited into the Corporate Insolvency Resolution Process for a default of over Rs 9.36 crores. The bench of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada, while admitting an insolvency plea filed by project contractor...

LiveLawBiz: Business Law Daily Round-Up: December 11, 2025

TAXRailway Receipts & STTG Certificates Are Valid Documents For Availing CENVAT Credit Before 27.08.2014: CESTAT Kolkata'Did Not Apply Mind': Gujarat High Court Quashes Tax Authority's Order Refusing To Condone Delay In Filing Return Due To COVID Pandemic Customs Act | 'Prohibition Includes Restriction': CESTAT Chennai Holds S.111(d) Covers Both Complete & Partial Restricted...

Unauthorised Residents Association Cannot Trigger CIRP If Individual Homebuyers Miss Debt Threshold: NCLT Delhi

The National Company Law Tribunal (NCLT) at New Delhi has recently held that a Residents Welfare Association that is not authorised by individual homebuyers cannot initiate a corporate insolvency process on their behalf, particularly when those homebuyers do not individually meet the minimum debt threshold under the Insolvency and Bankruptcy Code. A coram of Judicial Member Manni...

Objections To Constitution of CoC Cannot Defeat RP's Plea To Reverse Preferential Deals: NCLT Ahmedabad

The National Company Law Tribunal (NCLT) at Ahmedabad has held that objections to the constitution of the Committee of Creditors cannot be used to block a Resolution Professional's application under Section 43 of the Insolvency and Bankruptcy Code seeking to avoid and reverse preferential transactions.The tribunal said that avoidance proceedings are meant to protect the corporate debtor's...

SARFAESI Sale Cannot Proceed If Sale Certificate Is Not Issued Before IBC Moratorium: Bombay High Court

The Bombay High Court on Wednesday held that a secured creditor cannot proceed with a SARFAESI sale once an interim moratorium under the Insolvency and Bankruptcy Code comes into force. It rulled that the Union Bank of India was not entitled to accept balance payments or issue a sale certificate after the personal insolvency process against the borrower had commenced. In an order passed...

Amounts Shown As 'Other Advances' In Company's Balance Sheet Not Financial Debt Under IBC: NCLAT

The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently held that amounts shown in a company's balance sheet as “other advances”, including sums advanced years earlier without any repayment demand, do not qualify as borrowings and cannot therefore give rise to a financial debt under the Insolvency and Bankruptcy Code A coram of Chairperson Justice Ashok Bhushan...

NCLT Can Order Forfeiture Of Entire Deposit If Purchaser Of Liquidation Assets Defaults In Payments : Supreme Court

The Supreme Court held that if a purchaser defaults on payment for assets acquired in liquidation under a judicially supervised sale, the entire amount already deposited may be forfeited. It further clarified that Section 74 of the Indian Contract Act, 1872 cannot be invoked to seek a refund, as no contract exists between the purchaser and the liquidator, the sale being conducted under...

NCLT Mumbai Rejects RP's Plea To Recover ₹325 Crore Paid To Ericsson During RCom Insolvency

The National Company Law Tribunal (NCLT) at Mumbai has recently refused to order Swedish Equipment Manufacturer Ericsson India Private Limited to return nearly Rs 325 crore that was paid to it during the insolvency proceedings of Reliance Telecom Ltd and Reliance Communications Ltd, two Anil Ambani led companies undergoing corporate insolvency resolution. The payments were made not as part...

LiveLawBiz: Business Law Daily Round-Up: December 10, 2025

TAXSubway Franchisee Hiked Base Prices To Neutralise ITC Loss, Amounted To Profiteering; 18% Interest Can't Apply Retrospectively: GSTATSupplying AI-Powered IT Infra Services, Content To USA Corp By Indian Counterpart Is 'Export' Not 'Intermediary' : Gujarat High Court"₹41664 Crores ITC Fraud Via Non-Existing Entities, Fake Invoices": Centre Flags Rising GST Evasion In Rajya...