LiveLawBiz: Business Law Daily Round-Up: January 01, 2026

TAX CBI Court Convicts Central Excise Inspector In Disproportionate Assets Case, Awards 5 Yrs Imprisonment & ₹63 Lakh Fine; Wife Jailed For Abetment Gujarat High Court Grants Relief After Transfer Pricing Objections Were Mistakenly Filed Before Wrong Authority, Quashes Final AssessmentTree Plantation & Maintenance In Non-Forest Areas By Charitable Trust Exempt From GST: Gujarat...

Refunds Under Vivad Se Vishwas Scheme Cannot Be Enforced Under Insolvency Jurisdiction: NCLT Chennai

The National Company Law Tribunal (NCLT) at Chennai has held that refunds claimed under the Vivad Se Vishwas–I Scheme, a government COVID-19 relief measure that allows MSMEs to seek return of most performance guarantees forfeited during the pandemic, cannot be enforced through insolvency proceedings under Section 60(5) of the Insolvency and Bankruptcy Code. In a recent order, the tribunal...

Liquidator Cannot Claim Fee On SARFAESI Realisations Outside Liquidation Estate: NCLT Ahmedabad

The National Company Law Tribunal (NCLT) at Ahmedabad recently held that when a secured creditor enforces its security interest under the SARFAESI Act without involving the liquidator, the amount realised does not form part of the liquidation estate. The liquidator therefore count in that sale to compute the liquidator's fee.A coram of Judicial Member Shammi Khan and Technical Member...

Bidder Who Stayed Outside Restored CIRP Lacks Locus To Challenge Approved Resolution Plan: NCLT Kolkata

The National Company Law Tribunal (NCLT) at Kolkata , has recently held that a bidder who joined the first round of the insolvency process but stayed out of the second, restored round cannot later challenge a resolution plan approved by lenders. A coram of Judicial Member Labh Singh and Technical Member Rekha Kantilal Shah, in an order dated December 3, observed that participation in...

Common Resolution Professional For Group Companies Not Barred Under IBC: NCLT Mumbai

The National Company Law Tribunal (NCLT) at Mumbai recently held that the Insolvency and Bankruptcy Code, 2016 does not prohibit the appointment of a single resolution professional for companies belonging to the same corporate group. According to the tribunal, such an appointment does not by itself create a conflict of interest. A coram of Judicial Member Lakshmi Gurung and Technical...

LiveLawBiz: Business Law Daily Round-Up: December 31, 2025

TAX Kerala High Court Grants Bail To Accused Caught In ₹5,000 Land Tax Bribery Trap By VigilanceCustoms | I-STAT Blood Gas Cartridges Are Accessories Of Analyser And Not Diagnostic Reagents; No Differential Duty Payable: CESTAT MumbaiNo Interest On Excise Duty Payable In Revenue-Neutral Situation Even Though Duty Demand Attained Finality: Calcutta High CourtCustoms | Barcode Scanners...

IBBI Makes Beneficial Ownership Disclosure Mandatory for Insolvency Resolution Applicants

The Insolvency and Bankruptcy Board of India (IBBI) has made it mandatory for companies bidding to take over insolvent firms to clearly disclose who ultimately owns or controls them, also known as their beneficial owners.The change was notified on December 22, 2025, and applies to bidders taking part in the corporate insolvency resolution process. The amended rules were published in the...

Raw Material Advances Made During Insolvency To Keep the Company Running Are CIRP Costs: NCLT Delhi

The National Company Law Tribunal (NCLT) at New Delhi has held that advances paid for the supply of raw material under a job work arrangement can be treated as corporate insolvency resolution process costs if they were necessary to keep the corporate debtor functioning as a going concern during CIRP. A coram of President Justice Ramalingam Sudhakar and Technical Member Ravindra Chaturvedi...

Balance Sheet Debt Entry Without Disclaimer Extends Limitation For IBC Plea: NCLT Kolkata Reaffirms

The National Company Law Tribunal (NCLT) at Kolkata has admitted an insolvency petition filed by ICICI Bank against clothing company Anuj Textiles Private Limited. It reiterated that acknowledgements of debt recorded in the company's balance sheet were sufficient to extend the limitation period. A bench of Judicial Member Bidisha Banerjee and Technical Member Siddharth Mishra held that...

LiveLawBiz: Business Law Daily Round-Up: December 30, 2025

TAX Taxpayers To Be Barred From Filing GSTR-3B Return For Excess GST ITC Claims: GSTN Issues AdvisoryService Tax | Co-Op Society Paying Rent Arrears To Local Municipality For Gas Transportation Pipeline Not Liable Under Reverse Charge : CESTAT AhmedabadProfit From Securitisation/Sell-Down Of Loan Receivables Not Taxable As Service: CESTAT ChennaiExcise | Cutting/Slitting HR-CR Coils...

Guarantee Need Not Be Invoked For Guarantor To Seek Personal Insolvency: NCLT Indore

The National Company Law Tribunal (NCLT) at Indore has held that a personal guarantor can invoke insolvency proceedings against himself or herself under the Insolvency and Bankruptcy Code once a default occurs, even if the lender has not invoked the personal guarantee. A coram of Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta said that Section 94 allows...

Interest Cannot Be Claimed Solely On Parity With Other Creditors Without Contractual Proof: NCLT Indore

The National Company Law Tribunal (NCLT) at Indore has recently ruled that interest on an unsecured financial claim cannot be allowed merely because interest has been admitted in the claim of another unsecured creditor. The tribunal held that interest can be admitted only where there is a clear contractual or documentary basis reflected in the corporate debtor's records. A coram of...