IBC Cannot Be Used As Recovery Mechanism To Resolve Contractual Disputes: NCLAT Reaffirms

The National Company Law Appellate Tribunal (NCLAT) at Delhi has reiterated that insolvency proceedings under the Insolvency and Bankruptcy Code cannot be used as a recovery mechanism to settle disputed contractual claims. A coram comprising of Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra dismissed an appeal filed by FTI Consulting India Pvt. Ltd. against the rejection...

NCLT's Power To Order Forensic Audit Is Self-Ordained, No Separate Application Needed: NCLAT

The National Company Law Appellate Tribunal (NCLAT) at Chennai on Tuesday held that the National Company Law Tribunal can direct a forensic audit on its own even if no party has filed a separate application seeking such relief. A bench of Judicial Member Justice Sharad Kumar Sharma and Technical Member Indevar Pandey dismissed an appeal filed by Able Automobiles Private Limited and...

LiveLawBiz: Business Law Daily Round-Up: December 23, 2025

TAX CESTAT Mumbai Grants Major Relief To Capgemini; Holds IT/ITES Services Eligible For CENVAT CreditGSTAT Directs Builder To Return Over ₹20 Lakhs Benefit To Diya Greencity Homebuyers With InterestSecurity & Scavenging Services To Govt Hospitals Qualify As "Pure Services", Exempt From GST: West Bengal AARGST | Delhi High Court Grants Interim Relief To ICICI Bank Over Demand Of...

Reconstituted CoC Cannot Reopen Resolution Plan Approved By Earlier CoC: NCLAT Reiterates

The National Company Law Appellate Tribunal (NCLAT) at New Delhi has recently reaffirmed that a mere reconstitution of the Committee of Creditors does not invalidate or reopen a resolution plan that has already been approved by the earlier CoC and placed before the adjudicating authority for approval. A bench led by Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra set aside...

NCLT Bengaluru Sanctions Merger of Amazon India's Logistics Arm With Marketplace Unit

The National Company Law Tribunal (NCLT) at Bengaluru has approved the merger of Amazon Transportation Services Private Limited into Amazon Seller Services Private Limited, Amazon's marketplace arm in India consolidating of its logistics and marketplace operations . A Bench of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada passed the final order on December...

NCLT Indore Holds CGST Superintendent Guilty of Contempt For Not Refunding Tax Collected During Moratorium

The National Company Law Tribunal (NCLT) at Indore has held a senior GST officer guilty of civil contempt for refusing to return tax due collected from a insolvency bound company during moratorium. The tribunal found that a Superintendent of Central GST and Central Excise, Pithampur willfully disobeyed its order to refund Rs 26.26 lakh that was recovered from Bhagwan Motors Pvt Ltd while...

LiveLawBiz: Business Law Daily Round-Up: December 22, 2025

TAX Service Tax | Pairing & Testing Smart-Cards For Set-Top-Boxes Qualifies As Job Work: Bombay High Court Allows CreditCustoms Act | Penalty Cannot Be Sustained Solely On S. 108 Statements Without Compliance Of S. 138B: Kerala High CourtLevy Of Service Tax On 'Access To Amusement Facilities' Unconstitutional: Kerala High CourtNon-Filing Of ITR By Creditor Not Proof For Lack...

Delayed Litigant Cannot Seek Benefit Of Liberal Approach In Restoration Pleas: NCLT Kolkata

The National Company Law Tribunal (NCLT) at Kolkata has recently ruled that a party cannot seek restoration of a dismissed case by invoking a “liberal approach” if it has failed to act within the time prescribed by law. Refusing to revive an application filed by Eastern Power Distribution Company of Andhra Pradesh Ltd, the tribunal observed that while courts generally take a lenient view...

Criminal Action For Forged Documents Lies Only If It Occurs In Tribunal Custody: NCLT Chennai Reaffirms

The National Company Law Tribunal (NCLT) at Chennai has recently reiterated that that it cannot invoke its criminal jurisdiction for alleged forgery or fabrication of evidence unless the offence is shown to have been committed while the document was in its custody It observed, “It is not the case that, Respondent No.1 had given a false evidence under oath or fabricated a false...

IBC Resolution Doesn't Extinguish Statutory Claims Left Open By NCLT: Calcutta High Court

The Calcutta High Court has clarified that approval of a resolution plan under insolvency law does not wipe out claims that were specifically excluded and left open by the tribunal at the time of approval.A Division Bench of Justices Madhuresh Prasad and Supratim Bhattacharya, in an order dated December 8, 2025, dismissed an appeal filed by S.S. Natural Resources Pvt Ltd and upheld a demand...

Can Arbitral Award Convert Operational Debt Into Financial Debt? NCLT Delhi Refers Issue To Tribunal President

The National Company Law Tribunal (NCLT) at Delhi, has referred to its President whether an arbitral award based on a supply contract can be treated as financial debt for initiating insolvency under the Insolvency and Bankruptcy Code. It has also sought clarity on whether a single insolvency petition under section 7 is maintainable when a creditor's claim involves both operational dues...

NCLT Hyderabad Clears Kalburgi Cement's ₹213.41 Crore Merger Deficit Adjustment Against Securities Premium

The National Company Law Tribunal (NCLT) in Hyderabad has approved Kalburgi Cement Private Limited's move to clean up a large merger-related loss, treating it as a legitimate internal corporate decision so long as creditors are safeguarded and the statutory framework is followed. A coram of Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri has allowed the company to set off...