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...

Corporate Debtor Cannot Reclaim Property Sold Under Unregistered Slump Sale Agreement: NCLT Hyderabad

The National Company Law Tribunal (NCLT) at Hyderabad has held that when a corporate debtor has received full consideration and acted upon a slump sale transaction, he cannot later reclaim the property on the ground that the agreement was unregistered, as such conduct is barred by the doctrine of estoppel. A coram of Judicial Member Rajeev Bhardwaj and Technical Member Sanjay...

NCLAT Sets Aside NCLT Delhi Order For Failing To Examine Post-Covid Invoice Defaults In Insolvency Plea

The National Company Law Appellate Tribunal (NCLAT) at Delhi on Wednesday set aside an order of the National Company Law Tribunal, Delhi, which had dismissed an insolvency application by invoking the Covid-19 bar under the Insolvency and Bankruptcy Code. The appellate tribunal held that the NCLT Delhi failed to consider invoices whose dates of default fell outside the Covid-19 excluded...

LiveLawBiz: Business Law Daily Round-Up: January 07, 2026

IBC HMT Takes Final Step To Close HMT Watches, Files Application With Ministy Of Corporate AffairsNCLT Mumbai Approves Sagacious Capital's Rs 110 Crore Plan To Revive Reliance InnoventuresAvoidance Provisions Under Insolvency Code Are Restorative, Not Punitive: NCLT KochiDelhi High Court Dismisses 'Luxury Litigation' Over Debt Assignment, Reaffirms NCLT Power To Probe FraudHigh Courts...

HMT Takes Final Step To Close HMT Watches, Files Application With Ministy Of Corporate Affairs

HMT, one of the nation's oldest public sector manufacturing brands, has taken the final step to shut down its watchmaking arm, HMT Watches Limited, by filing an application to strike off the company with the Ministry of Corporate Affairs on January 6, 2026. The filing was disclosed by HMT Limited in a regulatory filling with the stock exchanges. HMT Watches, once known as the 'Timekeeper...

NCLT Mumbai Approves Sagacious Capital's Rs 110 Crore Plan To Revive Reliance Innoventures

The National Company Law Tribunal (NCLT) at Mumbai has approved a Rs. 110.10 crore resolution plan submitted by Sagacious Capital Pvt Ltd for the revival of debt-ridden Reliance Innoventures Pvt Ltd. The tribunal held that once a plan satisfies the requirements of the Insolvency and Bankruptcy Code, the tribunal cannot interfere with the commercial decisions of lenders. A...

Avoidance Provisions Under Insolvency Code Are Restorative, Not Punitive: NCLT Kochi

The National Company Law Tribunal at Kochi has clarified that the avoidance provisions under the Insolvency and Bankruptcy Code are meant to undo the preferential effect of certain transactions and restore the corporate debtor's estate, not to impose punitive liability on the beneficiary. Judicial Member Vinay Goel made the observation while partly allowing an avoidance application filed by...

Delhi High Court Dismisses 'Luxury Litigation' Over Debt Assignment, Reaffirms NCLT Power To Probe Fraud

The Delhi High Court has dismissed what it described as “luxury litigation” challenging a debt assignment, saying issues of fraud or the existence of debt must be decided by the insolvency tribunal, not a civil court. A single-judge bench of Justice Purushaindra Kumar Kaurav rejected the suit at the threshold, holding that it was a “mala fide attempt” built on “clever drafting”...