Case: NCLT Advocates Bar Association & Ors. -Vs- Union of India & Ors

Case No: MAT 469 of 2025

The Calcutta High Court has upheld a single bench order declining a plea challenging the move to shift the NCLT Kolkata premises located near the High Court, to a new building in the city's New Town area, as proposed by the Ministry of Corporate Affairs.

A division bench of Justices Rajarshi Bharadwaj and Apurba Sinha Ray held: "The question, however, is not whether the shift in location is beneficial or detrimental per se, but whether this Court can, in the exercise of its writ jurisdiction, intervene in such matters of administrative discretion. The answer to that must be in the negative."

Winding Up Petitions Under Companies Act Not At Irreversible Stage, Should Be Transferred To NCLT For Revival Under IBC: Himachal Pradesh HC

Case Title: Elecon Engineering Company Limited Versus M/s Inox Wind Limited & Anr.

Case Number: 2025:HHC:11215

The Himachal Pradesh High Court bench of Justices Tarlok Singh Chauhan and Sushil Kukreja has held that unless the corporate debtor's demise is inevitable or the winding-up proceedings under the Companies Act have reached an irreversible stage making revival impossible, every effort must be made to revive the company. Accordingly, all such winding-up petitions should be transferred to the National Company Law Tribunal (NCLT) for resolution under the Insolvency and Bankruptcy Code, 2016 (Code) under 434(1)(c) of the Companies Act.

'Facilitates Resolution Process': Madras HC Upholds Circular Allowing Creditor To Recommend Resolution Professional In Application U/S 95 Of IBC

Case Title: Ashwani Kumar Bhatia Versus The Union of India and Ors.

Case Number: W.P.Nos.14792 and 36480 of 2024

The Madras High Court bench of Justice D.Bharatha Chakravarthy has held that the circular issued by Insolvency and Bankruptcy Board of India (IBBI) on 21.12.2023 under section 196 of the Insolvency and Bankruptcy Code, 2016 (Code), allowing the creditor to recommend the name of a Resolution Professional in an application filed under Section 95 of the Code cannot be deemed ultra vires the provisions of the Code, particularly Section 97, which states that in creditor-initiated insolvency proceedings, the insolvency professional is to be nominated by the IBBI. This circular enhances the efficiency of the entire process.

Penalty Orders U/S 270A Of Income Tax Act Cannot Be Issued After Approval Of Resolution Plan U/S 31 Of IBC: Gujarat HC

Case Title: Technovaa Plastic Industries Pvt. Ltd. Versus Assistant Commissioner Of Income Tax, Circle, Gandhinagar & Ors.

Case Number: R/SPECIAL CIVIL APPLICATION NO. 21289 of 2022

The Gujarat High Court bench of Justices Bhargav D. Karia and D.N.Ray has held that Penalty orders under Sections 270A, 271(1)(c), and 271AAC(1) of the Income Tax Act, 1961 (Income Tax Act) cannot be issued after the approval of the Resolution Plan under Section 31 of the Insolvency and Bankruptcy Code, 2016 (Code). Once the Resolution Plan is approved by the Adjudicating Authority, all claims, including statutory dues, stand extinguished, and no further proceedings in respect of such dues can be initiated.

Case Title: Apresh Garg Versus Indian Bank (erstwhile Allahabad Bank) & Ors.

Case Number: Company Appeal (AT) (Insolvency) No. 396 of 2024 & I.A. No. 1822, 1977, 6619 of 2024

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member) and Mr. Barun Mitra (Technical Member) has held that the fact that a majority of consortium lenders are considering debt restructuring with the Corporate Debtor does not preclude an individual member from independently initiating insolvency proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016 (Code) as per the facility agreement.

State Entitled To Secured Creditor Status Under IBC Due To Statutory Charge Created U/S 48 Of GVAT Act: NCLAT

Case Title: State Tax Officer Versus Premraj Ramratan Laddha & Ors.

Case Number: Comp. App. (AT) (Ins) No. 720 of 2021 & I.A. No. 3172 of 2024

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Rakesh Kumar Jain (Judicial Member) and Mr. Naresh Salecha (Technical Member) has held that after completion of the assessment of the Corporate Debtor under Gujarat Value Added Tax (GVAT) Act before Corporate Insolvency Resolution Process (CIRP), a charge in view section 48 of the GVAT Act is created by operation of law on the property of the Corporate Debtor in favour of the State Tax Officer therefore the dues of the State is entitled to be treated as a secured creditor under Section 53 of the Insolvency and Bankruptcy Code, 2016 (Code).

NCLT

Insolvency Proceedings Can't Be Initiated By Operational Creditor When Complaints Regarding Defects Remain Unresolved: NCLT Delhi

Case Title: Schneider Electric India Private Limited V/s M/s Sarkun Solar Private Limited

Case Number: CP (IB) No. 778 (ND)/ 2022

The National Company Law Tribunal (NCLT), New Delhi bench of Shri Manni Sankariah Shanmuga Sundaram (Judicial Member) and Dr. Sanjeev Ranjan (Technical Member), held that an Operational Creditor can't initiate insolvency proceedings against the Corporate Debtor for non-payment, when complaints regarding defects in products remain unresolved.

Order Of DRT Setting Aside NPA Classification Does Not Negate Existence Of Financial Debt Or Occurrence Of Default: NCLT Delhi

Case Title: M/s Encore Asset Reconstruction Company Private Limited V/s M/s New Tech Imports Private Limited

Case Number: CP (IB) No. 823 (ND)/ 2022

The National Company Law Tribunal (NCLT), New Delhi bench of Shri Manni Sankariah Shanmuga Sundaram (Judicial Member) and Dr. Sanjeev Ranjan (Technical Member), held that an order of Debt Recovery Tribunal (DRT) setting aside NPA classification does not negate existence of financial debt or occurrence of default, which are the two primary factors for admitting a Section 7 petition under the Insolvency & Bankruptcy Code (“the code”) .

Income Tax Department Cannot Be Considered As A Secured Creditor In Liquidation Proceedings: NCLT Chennai

Case Title: Canara Bank v. Mr. B. Ramana Kumar (Liquidator of Krishna Energy Pvt. Ltd.) & Income Tax Department

Case Number: Company Appeal (AT) (CH) (Ins) No. 190/2025 ; IA Nos.532 & 533/2025

The National Company Law Tribunal, Chennai, comprising Shri Jyoti Kumar Tripathi (Member-Judicial) and Shri Ravichandran Ramasamy (Member-Technical), disposed of the application filed by the Canara Bank of India under Section 60(5) of the IBC r/w Rule 11 of the NCLT Rules 2016 against the Income Tax Department, seeking a refund of Rs 1.12 Cr. into the liquidation estate of the Corporate Debtor. The NCLT ruled that the income tax dues are the sovereign dues and cannot be declared as secured debt solely because of the reason that the attachment was made seeking recovery of dues.

Investors Can't Be Considered As Allottees In Absence Of “Agreement To Sell” Or “Allotment Letter”: NCLT Delhi

Case Title: Sujata Shekhar Shah & Ors. V/s Mirador Construction Pvt. Ltd.

Case Number: IA(I.B.C)/3892(MB) 2024 IN C.P. (IB)/2054(MB)2019

The National Company Law Tribunal (“NCLT”), Mumbai bench of Shri Sanjiv Dutt (Technical Member) and Shri K.R. Saji Kumar (Judicial Member) dismissed an interlocutory application filed by investors of a corporate Debtors, seeking impleadment as allottees in the real estate project. The Tribunal held that in the absence of an “agreement to sell” or an “allotment letter” investors can't be considered as allottees under the Insolvency and Bankruptcy Code, 2016 (“the code”).

Operational Creditor Not Entitled To Interest Under MSME Act When Contract Prohibits It : NCLT Delhi

Case Title: Kuldeep Kumar Contractors V/s M/s NBCC (India) Pvt. Ltd.

Case Number: CP (IB) No. 63 (ND)/ 2025

The National Company Law Tribunal (NCLT), New Delhi bench of Shri Manni Sankariah Shanmuga Sundaram (Judicial Member) and Dr. Sanjeev Ranjan (Technical Member), rejected a section 9 Petition filed by the operational creditor under the Insolvency & Bankruptcy Code, 2016 (the code). The Tribunal held that when the terms of contract prohibits the charging of interest, the Operational Creditor cannot claim such interest on the amount due even if entitled under the Micro, Small and Medium Enterprises Development Act, 2006 (“MSME Act”).

Insolvency Proceedings Can't Be Initiated Against Corporate Debtor For Non-Payment Of Debt When Creditor Owes Larger Amount To Debtor: NCLT Delhi

Case Title: Future Consumer Limited V/s Aussee Oats India Limited

Case Number: CP (IB) No. 538 (MB)/ 2024

The National Company Law Tribunal (NCLT), Mumbai bench of Justice V. G. Bisht (Judicial Member) and Shri Prabhat Kumar (Technical Member) dismissed a section 7 petition on the ground that Financial Creditor cannot seek insolvency of a debtor alleging default in payment of a financial debt when such creditor owes more than the amount claimed to be in default to such debtor.

Payment Made Against Specific Invoice Can't Be Adjusted Against Back-Dated Invoices: NCLT Delhi

Case Title: Uniwoth Enterprises LLP V/s Starco Metaplast Pvt. Ltd.

Case Number: CP (IB) No. 176 (ND)/ 2023

The National Company Law Tribunal (NCLT), New Delhi bench of Shri Manni Sankariah Shanmuga Sundaram (Judicial Member) and Dr. Sanjeev Ranjan (Technical Member), rejected a section 9 Petition filed by the operational creditor under the Insolvency & Bankruptcy Code, 2016 (the code), holding that when a payment is made by the Corporate Debtor against a specific invoice raised by the Operational Creditor, it can't be adjusted against back-dated invoices.