Approval Of OTS Proposal By One Member Of Consortium Subject To Approval Of Other Lenders Can't Bar Petition U/S 7 Of IBC: NCLAT

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Rakesh Kumar Jain, Justice Mohd Faiz Alam Khan and Mr. Naresh Salecha (Technical Member) has held that an One Time Settlement (OTS) proposal submitted by the corporate debtor, and approved by one consortium member subject to approval by all members, cannot bar the filing of an application under Section 7 of...

Interest Accrued During & After S.10A Period Can Be Combined With Principal Amount To Meet ₹1 Crore Threshold U/S 4 IBC: NCLT Kolkata

The National Company Law Tribunal (NCLT), Kolkata Bench, comprising Justice Bidisha Banerjee (Member-Judicial) and Siddharth Mishra (Member-Technical), has held that if the default is committed prior to or during the section 10A period and liability to pay interest is accrued during the section 10A period and continued thereafter, such interest could be counted to meet the threshold of Rs....

Claims Of EPFO Based On Inspection Conducted During CIRP Are Unenforceable: NCLAT

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan and Mr. Barun Mitra (Technical Member) has held that the claims of the EPFO based on inspection conducted subsequent to initiation of the Corporate Insolvency Resolution Process (CIRP) are unenforceable and cannot be admitted. The present three appeals have been filed against orders passed...

Shareholders & Guarantors Have No Locus To Intervene In CIRP Based On Private Unregistered MoU: NCLT Kochi

The National Company Law Tribunal (NCLT), Kochi Bench, comprising Justice Vinay Goel (Member-Judicial) and Madhu Sinha (Member-Technical), has held that any private agreement between the corporate debtors, borrowers, and guarantors is not binding on the financial institutions unless the institutions are parties to the agreement and have explicitly consented to...

Unconditional Consent By Sole Financial Creditor Satisfies Requirements Of S.12A IBC & Regulation 30A Of CIRP Regulations: NCLT New Delhi

The National Company Law Tribunal, New Delhi, Court-IV, comprising Justice Jyotsna Sharma (Member-Judicial) and Anu Jagmohan Singh (Member-Technical), has held that if there is a stay on the meetings of CoC, then the unconditional consent of the sole financial creditor is sufficient for the withdrawal of the CIRP. The resolution professional filed an application u/s 12A of the IBC...

Lease Dues Incurred During CIRP Prior To Vesting Date Are Payable To Financial Creditor, Do Not Belong To Successful Resolution Applicant: NCLT Hyderabad

The National Company Law Tribunal (NCLT), Hyderabad Bench, comprising Justice Rajeev Bhardwaj (Member-Judicial) and Sanjay Puri (Member-Technical), has held that the lease dues incurred during the corporate insolvency resolution period prior to the vesting date are payable to the financial creditor and don't belong to the Successful Resolution Applicant (SRA). Background of...

Personal Guarantors Cannot Seek Disclosure Of Resolution Plan Details U/S 60(5) IBC Or Rule 11 Of NCLT Rules: NCLT Mumbai

The National Company Law Tribunal, Mumbai Bench, comprising Justice Sushil Mahadeorao Kochkey (Member-Judicial) and Prabhat Kumar (Member-Technical), has held that personal guarantors cannot seek disclosure of resolution plan details u/s 60(5) or Rule 11 of the NCLT Rules. The CIRP of the corporate debtor, Prabhat Technologies (India) Ltd., was initiated in furtherance of the section...

Settlement Agreement Between Parties Merely Acknowledging & Structuring Repayment Doesn't Change Nature Of Debt: NCLT Mumbai

The National Company Law Tribunal, Mumbai Bench, Court-III, comprising Justice Lakshmi Gurung (Member-Judicial) and Hariharan Neelakanta Iyer (Member-Technical), has held that a settlement agreement entered between the parties merely for the purpose of acknowledging the debt and structuring the repayment schedule doesn't necessarily change the nature of the debt when it is concreted...

Specific Pleadings U/S 9 Of IBC Regarding Part Payments, Supported By Written Acknowledgment Resets Limitation Period: NCLAT

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan and Mr. Barun Mitra (Technical Member) has held that when there are specific pleadings under Section 9 of the IBC regarding part payments made by the Corporate Debtor, further supported by a written acknowledgment in the reply to the demand notice, the limitation period for filing the...

Unconditional Consent By Sole Financial Creditor Satisfies Requirements U/S 12A Of IBC: NCLT New Delhi

The National Company Law Tribunal, New Delhi, Court-IV, comprising Justice Jyotsna Sharma (Member-Judicial) and Anu Jagmohan Singh (Member-Technical), has held that if there is a stay on the meetings of CoC, then the unconditional consent of the sole financial creditor is sufficient for the withdrawal of the CIRP. The resolution professional filed an application u/s 12A of the IBC...

EPFO Dues Arising From Post-Liquidation Assessments U/S 7A Of EPF Act Are Not Admissible: NCLAT New Delhi

The National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, comprising Justice Ashok Bhushan (Chairperson) and Barun Mitra (Member-Technical), has held that the EPFO dues arising from the post-liquidation assessment under section 7A of the EPF Act are not admissible. The CIRP of the corporate debtor was ordered on 30.11.2017, and its liquidation was ordered...

NCLT Bar Association Writes To Ministry Of Corporate Affairs Over Infrastructure Crisis Causing Standstill At NCLT Delhi

On 04.09.2025, the National Company Law Tribunal Bar association has made an urgent representation to the Secretary, Ministry of Corporate Affairs, expressing concern regarding the persistent infrastructure challenges faced by the National Company Law Tribunal, New Delhi Bench. On 03.09.2025, a public notice was issued by the NCLT informing all stakeholders that the 8th floor of the...