NCLT Kolkata Approves Ambuja Housing's ₹34 Crore Plan to Revive Riverbank Developers

The National Company Law Tribunal (NCLT) at Kolkata has admitted and approved Ambuja Housing and Urban Infrastructure Company Ltd.'s resolution plea against Riverbank Developers, clearing a Rs 34 crore plan to revive the insolvent real estate firm. The decision provides a path forward for the "Usshar Project," a massive residential development involving more than 2,400 homebuyers who...

Interest Free Maintenance Security Collected From Homebuyers By Builder Not Financial Debt: NCLT Jaipur

The National Company Law Tribunal, Jaipur Bench has recently held that Interest Free Maintenance Security collected by a builder from flat buyers is not a financial debt under the Insolvency and Bankruptcy Code, 2016. Thus, it ruled that a residential welfare society cannot trigger insolvency proceedings on the basis of such maintenance-related claims.A coram of Judicial Member Reeta Kohli...

IBC Annual Digest 2025 Part 2

Supreme Court IBC Moratorium Doesn't Bar Voluntary Surrender Of Corporate Debtor's Leased Property To Lessor: Supreme Court Cause Title: Sincere Securities Private Limited & Ors. Versus Chandrakant Khemka & Ors. Citation : 2025 LiveLaw (SC) 774 The Supreme Court on Tuesday (August 5) held that the moratorium under the Insolvency and Bankruptcy Code, 2016 (IBC), does...

NCLAT Revives Culver Max's Insolvency Plea Against Fintech Firm Over Sony LIV Marketing Dues

The National Company Law Appellate Tribunal (NCLAT) at Delhi recently revived an insolvency case filed by Culver Max Entertainment Private Limited, the company formerly known as Sony Pictures Network India, against the firm Odishsa based Rechargekit fintech over unpaid dues arising from the marketing of Sony LIV premium subscription plans. The Appellate Tribunal ruled that the insolvency...

Unpaid Salary Cannot Trigger Insolvency If Converted Into Investment Through Settlement: NCLT Delhi

The National Company Law Tribunal (NCLT) at New Delhi, has recently ruled that salary dues converted into an investment/loan through a settlement cannot be treated as an operational debt under the Insolvency and Bankruptcy Code. The tribunal dismissed a Section 9 insolvency petition filed by a former director against a real estate company. A bench of Judicial Member Bachu Venkat Balaram Das...

IBC Jurisdiction Depends On Debtor's Registered Office, Not Bank Branch That Issued Notices: NCLT Kochi

The National Company Law Tribunal (NCLT) at Kochi recently held that insolvency proceedings can be initiated only before the bench having jurisdiction over the place where the corporate debtor's registered office is located, and not based on the bank branch that issued demand or recovery notices. A coram comprising Judicial Member Vinay Goel said this while dealing with a...

CIRP Plea Of Operational Creditor Fails If Debt Is Recorded As Disputed With Information Utility: NCLAT

The National Company Law Appellate Tribunal (NCLAT) at New Delhi has recently reiterated that once a debt is recorded as “disputed” with an Information Utility, insolvency courts have no discretion to examine the merits of the dispute and must reject a Section 9-CIRP plea under the Insolvency and Bankruptcy Code . A bench of Chairperson Justice Ashok Bhushan and Technical Member Barun...

NCLT Cannot Order Issuance Of New Share Certificates, Can Only Rectify Existing Records: NCLAT

The National Company Law Appellate Tribunal (NCLAT) at Chennai, recently clarified that Section 59 of the Companies Act, 2013 which allows company court to correct mistakes in a company's official register of members (shareholders) cannot be used to compel a company to issue new share certificates.Dismissing an appeal filed by an ex-employee of a Hyderabad based company, the tribunal upheld...

LiveLawBiz: Business Law Daily Round-Up: December 28, 2025

TAX Delhi High Court Grants Bail To Accountant Accused Of Running Fake Firms, Passing Fraudulent ITC On ₹5 Lakh BondITAT Flags Mismatch Between Stock & Sales Of Jewellery Firm During Demonetisation Period, Orders Fresh ExaminationDelhi High Court Allows Use Of Transitional CENVAT Credit For Mandatory Pre-Deposit Before CESTATOnce GST Appeal Is Filed On Portal, No Mandatory Requirement...

LiveLawBiz: Business Law Daily Round-Up: December 27, 2025

TaxWorks Contract Service Provided To CESC For Transmission Or Distribution Of Electricity Not Liable To Service Tax: CESTAT KolkataRemuneration Paid To Whole-Time Directors Treated As 'Salary'; Service Tax Not Leviable: CESTAT Chennai Limitation Not “Extinguishing Engine' For Substantive Rights: Calcutta High Court Condones 2262 Day Delay In Filing Appeal GST | Mismatch In E-Way...

Acceptance of Goods Does Not End Pre-Existing Dispute If Quality Issues Emerge After Use: NCLT Ahmedabad

The National Company Law Tribunal (NCLT) at Ahmedabad recently ruled that accepting and consuming goods does not, by itself, erase a dispute. Quality defects that emerge after consumption can still qualify as a valid pre-existing dispute under insolvency law. A bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma passed the order on December 19, 2025, while dismissing...

Interest Stated In Invoices Not Counted To IBC Threshold Without Debtor's Acceptance : NCLT Delhi

The National Company Law Tribunal (NCLT) at New Delhi recently reiterated that interest mentioned only in invoices cannot be counted for meeting the insolvency threshold unless there is clear evidence that the corporate debtor accepted liability to pay such interest. A bench of Judicial Member Mahendra Khandelwal and Technical Member Anu Jagmohan Singh observed, “Merely because the...