IBC News
Supreme Court To Examine If NCLT President Has Power To Transfer Cases Across States
The Supreme Court is set to examine the scope of National Company Law Tribunal President's power to transfer a case across states by way of an administrative order.A bench of CJI Surya Kant and Justice Joymalya Bagchi recently issued notice on a plea challenging the Gujarat High Court order which held that the NCLT President has no authority to transfer cases from one State to another...
Suspended Director Who Is A Prospective Resolution Applicant Not Entitled To Valuation Reports : NCLT Mumbai
The National Company Law Tribunal (NCLT) at Mumbai has dismissed a challenge by a suspended director seeking disclosure of valuation reports and other Corporate Insolvency Resolution Process (CIRP) documents. The court held that valuation reports are confidential and cannot be shared with persons who are themselves potential or competing resolution applicants. “Valuation reports...
Business Law Daily Round-Up: January 08, 2026
IBC NCLAT Limits Ansal Properties' Insolvency To Sushant Golf City and Rajasthan ProjectsFunding Rival Bids, Using Same IP Proves Bid Rigging, NCLAT Upholds CCI Penalty Against Klassy EnterprisesCalling Guarantor 'Director' In SARFAESI Notice Doesn't Invalidate Invocation Of Guarantee: NCLATNCLAT Upholds Eviction Of Subsidiaries From Corporate Debtor's Properties During LiquidationBank...
NCLAT Limits Ansal Properties' Insolvency To Sushant Golf City and Rajasthan Projects
The National Company Law Appellate Tribunal (NCLAT) at New Delhi refused to overturn the insolvency proceedings against Ansal Properties and Infrastructure Limited.However, it restricted the process to Sushant Golf City in Lucknow and three Rajasthan projects: Ansal Royal Plaza, Orchid Plaza, and Tulip Plaza. The tribunal said extending the insolvency process to projects not linked to the...
Funding Rival Bids, Using Same IP Proves Bid Rigging, NCLAT Upholds CCI Penalty Against Klassy Enterprises
The National Company Law Appellate Tribunal (NCLAT) at New Delhi has recently upheld a Rs 10 lakh penalty imposed by the Competition Commission of India on Klassy Enterprises, holding that paying the tender costs of rival bidders and submitting bids from the same IP address was enough to show bid rigging, even without a written cartel agreement. A bench of Judicial Member Justice Mohd. Faiz...
Calling Guarantor 'Director' In SARFAESI Notice Doesn't Invalidate Invocation Of Guarantee: NCLAT
The National Company Law Appellate Tribunal (NCLAT) at New Delhi has recently ruled that merely describing a personal guarantor as a “Director” in a SARFAESI demand notice does not invalidate the invocation of the personal guarantee, as long as the notice clearly demands payment of the outstanding dues under the guarantee deed. The tribunal said the real test is not how the person...
NCLAT Upholds Eviction Of Subsidiaries From Corporate Debtor's Properties During Liquidation
The National Company Law Appellate Tribunal (NCLAT) at Delhi has upheld the NCLT Ahmedabad's order directing eviction of two subsidiaries from premises owned by a corporate debtor. The court held that the NCLT can exercise jurisdiction under Section 60(5) of the Insolvency and Bankruptcy Code (which gives the insolvency court power to decide questions of law or fact arising out of or...
Bank Can't Freeze Company's Accounts Solely Over ROC's 'Management Dispute' Tag: Calcutta High Court
The Calcutta High Court has held that a bank cannot freeze a company's accounts merely on the basis of a “management dispute” marking by the Registrar of Companies (ROC), particularly after such marking has been removed on the directions of the Ministry of Corporate Affairs (MCA).Justices Sabyasachi Bhattacharyya and Supratim Bhattacharya made the observation on January 5 while...
Voluntary Liquidation: A Strategically Sound Exit For Dormant Companies
In the Indian corporate environment, dormancy is often misunderstood as harmless inactivity. In law, however, a dormant company remains very much alive subject to statutory filings, regulatory oversight, penalties for non-compliance, and exposure to historical liabilities. For promoters, what appears to be a sleeping entity frequently becomes a source of recurring compliance cost and...
CIRP Claims Cannot Rely On 12-Year Limitation Period For Enforcing Mortgage Rights: NCLT Mumbai
The National Company Law Tribunal (NCLT) at Mumbai has recently ruled that secured creditors cannot rely on the 12-year limitation period for enforcing mortgage rights when filing claims in a corporate insolvency resolution process. For insolvency claims, the Tribunal said, the applicable limitation period is three years. The decision was delivered by a coram of Judicial Member Sushil...
NCLT Mumbai Approves Demerger Of Poonawalla Finance And Group Entities
The National Company Law Tribunal at Mumbai has approved a scheme of amalgamation involving Poonawalla Finance Pvt Ltd, Rising Sun Holdings Pvt Ltd and Synergist Realtors Pvt Ltd, paving the way for the reorganisation of businesses within the Poonawalla group. The approval came on January 6, 2026, following resolutions passed by the boards of the companies on February 4 and...