IBC News
NCLT Delhi Clears ₹3,800-Crore MAHAGENCO–NTPC Plan To Revive Sinnar Thermal Power
The National Company Law Tribunal (NCLT) at Delhi has recently approved a ₹3,800 crore resolution plan jointly submitted by public sector power companies, Maharashtra State Power Generation Company (MAHAGENCO) and National Thermal Power Corporation (NTPC) to revive the defunct Sinnar Thermal Power Limited in Maharashtra, holding that the proposal met all requirements under the Insolvency...
NCLT Orders Opulent Infradevelopers' Directors To Repay Rs 10.46 Crore For Fraudulent Transactions
The National Company Law Tribunal (NCLT) at New Delhi has ordered suspended directors of insolvent Opulent Infradevelopers to personally contribute Rs 10.46 crore back to the company after finding that they ran the business “with intent to defraud creditors” by making unauthorised donations, advancing interest-free loans, falsifying accounts and booking fictitious expenses. The order...
NCLT Mumbai Rejects Indo Global Employees' Claims Filed 18 Months Late, Says Stakeholders Must Be Vigilant
The National Company Law Tribunal (NCLT) at Mumbai has recently stressed that stakeholders must act within statutory timelines during a corporate insolvency resolution process, dismissing six applications filed by former employees of Indo Global Soft Solutions and Technologies Private Limited after finding that their claims had been submitted 18 months after the last date prescribed for...
Liquidator Must Recover Assets Even If Attached By Third Parties, Attachment Cannot Override IBC: NCLT Bengaluru
The National Company Law Tribunal (NCLT) at Bengaluru has recently held that a liquidator must assume custody and control of all assets of a corporate debtor even when those assets have been seized or attached by third parties including investigating agencies, stating that such seizure cannot override the Insolvency and Bankruptcy Code. The order was passed by Judicial Member Sunil...
Buyers Of Commercial Units Are Not Homebuyers; Cannot Be Recognised As Financial Creditors: NCLT Mumbai
The National Company Law Tribunal at Mumbai has recently held that purchasers of commercial or industrial units cannot claim parity with homebuyers and are therefore not entitled to the special protection accorded to them under the Insolvency and Bankruptcy Code, which recognises homebuyers as financial creditors. A coram of Judicial Member Mohan Prasad Tiwari and Technical Member...
LiveLawBiz: Business Law Daily Round-Up: November 28, 2025
IBC NSEL Gets NCLT Nod For ₹1,950-Crore Settlement With 5,682 Traders Affected In 2013 ScamUploading Debt Details On Information Utility Does Not Extend Limitation For CIRP: NCLATNCLAT Upholds Order Directing Satra Properties' Suspended Directors To Refund ₹91 Lakh For Clearing Cheques During MoratoriumIBC Does Not Override Statutory First Charge Under Gujarat VAT Act, Both Laws Operate...
NSEL Gets NCLT Nod For ₹1,950-Crore Settlement With 5,682 Traders Affected In 2013 Scam
The National Company Law Tribunal at Mumbai on Friday approved a Rs 1,950-crore one-time settlement for 5,682 traders affected by the 2013 National Spot Exchange Ltd (NSEL) scam, holding that the proposal met statutory requirements and did not violate public policy.A bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar noted that the settlement had received...
Uploading Debt Details On Information Utility Does Not Extend Limitation For CIRP: NCLAT
The National Company Law Appellate Tribunal at Delhi on Thursday observed that merely uploading financial information on an information utility does not amount to acknowledgment of debt and therefore cannot trigger a fresh limitation period for filing a Corporate Insolvency Resolution Process application under Section 9 of the Insolvency and Bankruptcy Code. The Bench of Chairperson...
NCLAT Upholds Order Directing Satra Properties' Suspended Directors To Refund ₹91 Lakh For Clearing Cheques During Moratorium
The National Company Law Appellate Tribunal at Delhi on Thursday held that the suspended directors of Satra Properties (India) Ltd violated the Insolvency and Bankruptcy Code by allowing two cheques worth Rs 91 lakh to be cleared after the commencement of moratorium, and upheld the National Company Law Tribunal's order directing them to jointly and severally refund the amount with interest...
IBC Does Not Override Statutory First Charge Under Gujarat VAT Act, Both Laws Operate In Harmony: NCLAT
The National Company Law Appellate Tribunal at Delhi recently held that the Insolvency and Bankruptcy Code (IBC) does not override a statutory first charge created under the Gujarat VAT Act, and that both laws operate in harmony when such a charge qualifies as a security interest under the Code. A Bench of Judicial Member Justice Yogesh Khanna and Technical Member Indevar Pandey observed...
LiveLawBiz: Business Law Daily Round-Up: November 27, 2025
IPR Delhi High Court Grants Relief To Tesla Inc, Extends Bar on Indian Company's Use of 'Tesla' Marks In EV MarketDelhi High Court Rejects Philips' Plea For Perjury Action Against Ex-Employee In Software Piracy CaseMadras High Court Quashes Order Allowing Pfizer To Seek Documents From Indian Drug Manufacturer For US SuitDelhi High Court Declines To Return Plaint In Sun Pharma's Trademark...