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...

NCLT Chandigarh Says It Cannot Decide On Property Title, Fraud Or Authenticity Of Board Resolutions

The National Company Law Tribunal (NCLT) Chandigarh has recently held that its insolvency jurisdiction cannot be used to decide disputes over property ownership, allegations of fraud, or the authenticity of board resolutions. The court ruled that such issues squarely fall under the purview of civil court. A bench of Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal,...

Failure To Follow RBI MSME Restructuring Norms Not Fatal To Financial Creditor's Insolvency Plea:NCLT Guwahati

The National Company Law Tribunal (NCLT) at Guwahati recently held that a lender's failure to follow Reserve Bank of India circulars on restructuring stressed MSME accounts does not, by itself, make an insolvency petition under the Insolvency and Bankruptcy Code (IBC) non-maintainable. In an order dated December 4, 2025, a bench consisting of Judicial Member Rammurti Kushwaha held,...

Share Purchase Dues Between Exiting And Erstwhile Shareholders Not Financial Debt: NCLT Indore

The National Company Law Appellate Tribunal (NCLT) at Indore has held that consideration paid for the purchase of shares between outgoing and incoming shareholders is a personal equity transaction and cannot be treated as a financial debt against the company under the Insolvency and Bankruptcy Code. A coram of Judicial Member Brajendra Mani Tripathi and Technical Member Man Mohan Gupta...

NCLAT Holds Appeal Delay Deemed Condoned Due To Registry Error, Refuses To Recall Insolvency Admission

The National Company Law Appellate Tribunal (NCLAT) at Delhi held that a three-day delay in filing an insolvency appeal stood deemed to have been condoned due to a registry error, and on that basis refused to recall its earlier order admitting insolvency proceedings. A coram comprising Judicial Member Justice Yogesh Khanna and Technical Member Ajai Das Mehrotra, passed the order on December...

Business Law Daily Round-Up: December 29, 2025

TAX APVAT | Value Added Tax Not Leviable On Offshore Sales Beyond Territorial Waters: Andhra Pradesh High CourtIncome Tax Act | Delhi High Court Sets Aside Reassessment Against MakeMyTrip Over ₹50 Crore Receipt, Cites Vague S.148A NoticesBombay High Court Upholds 18% Interest Levy On Delayed VAT Payment, Says Interest Levied Automatically Once Payment Is DelayedPunjab & Haryana High...

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...