Latest Nclat updates from LegalRepublic.in.
The NCLT Indore admitted a Section 9 petition against Flexituff Technology International because it had sent a letter and four post-dated cheques for a debit note raised on its subsidiary. The Principal Bench holds the letter was no novation, the business transfer agreement left such liabilities with the subsidiary, and the debt was disputed.
Karnataka commercial tax officers assessed Doshion in February 2026 and filed their claim 896 days after the last date fixed by the liquidator. The Principal Bench holds that an assessment after the liquidation commencement date neither restarts the 30-day claim window nor excuses the silence since November 2023.
The Vilsons Roofing plan paid every admitted provident fund rupee upfront, the Principal Bench found. The unpaid Rs 4,56,121 was the rejected and under-verification slice that EPFO never challenged under Section 60(5), and a CIRP regulation cannot enlarge a period fixed by Parliament.
Wave Global Educational Services sold its coaching business to Corsalite for Rs 3 crore in July 2017 and was in liquidation by 2021. The Principal Bench finds the purchaser was the alter ego of its three directors, who took every share within four months, and trims the payment direction to them and Corsalite alone.
Vasu Buildcon said a limited remand on the Noida Authority claim could not reopen its CoC-approved plan for IVR Prime IT SEZ. The Principal Bench holds that a plan never approved under Section 31, remitted and then voted down, leaves the CoC free to return to the market. The plea of the suspended director that assignee homebuyers rigged the vote also fails.
Applying Nitendra Kumar Tomer, a three-member bench holds that a cause-title amendment allowed nearly three months after the NCLT Cuttack admission order could not revive an incompetent appeal, and finds no pre-existing dispute over HDPE pond liner supplied for the NTPC Badarpur Eco Park.
Rs 1.39 crore paid under a 2014 share purchase MOU was never disbursed for the time value of money, a three-member bench holds, even though Ganpati Global credited interest and deducted TDS on it for four years without paying a rupee.
NCLAT holds that a resolution professional removed from the personal insolvency of a Mahavir Roads guarantor has no interest left in appeals filed in that role, reprimands him for his conduct, and records that he hid two NCLT orders to obtain an interim stay.
Justice Mohammad Faiz Alam Khan and Naresh Salecha dismissed five appeals against the Mastana Foods resolution plan, holding that the e-auction date fixes the bid and that a unilateral second plan is non-responsive.
Justice Mohammad Faiz Alam Khan and Arun Baroka upheld the rejection of a ₹7 crore plan for an asset holding company, the order for liquidation, and an investigation into an assignment made to an ARC during the insolvency.
Resolving a split at the Chennai bench, Naresh Salecha held that the confidentiality undertaking recognised in Vijay Kumar Jain is how a suspended board gets access to a resolution plan, not a formality that past practice can waive.
A three-member Bench set aside both the dismissal of an oppression petition and an omnibus perjury finding, holding that an allegation carrying penal consequences requires notice, specific findings and a reasoned determination.
Justice Mohammad Faiz Alam Khan and Naresh Salecha held that a pending money-laundering investigation and an attachment of assets do not make a resolution applicant ineligible under Section 29A, which is triggered by conviction.
The appellate tribunal disposed of applications seeking replacement of IRP Santanu T. Ray, directing the suspended director to first approach NCLT, with a two-week disposal request.
SREI Equipment Finance withdrew its challenge to the approved resolution plan of Nirmal Lifestyle (Mulund) after the successful resolution applicant confirmed the disputed mortgaged property was excluded.
NCLAT's Principal Bench allowed exclusion of 87 days from the CIRP timeline of Senior Builders Ltd., reversing an NCLT order that had rejected the new Resolution Professional's application.
NCLAT sets aside NCLT's rejection of a director's Section 7 petition over Rs. 6.86 crore interest-free loan, citing procedural failure and unexamined factual questions about the debt's true character.
NCLAT's Principal Bench dismisses Shefali Agrawal's appeal, holding her claims of illegal removal as director and share dilution were time-barred, with knowledge established from 2013.
NCLAT upholds CIRP admission against two Rana Kapoor-linked real estate companies, ruling the loan recall notice of 9 March 2020 validly triggered default under the IBC.
NCLAT finds Rs 3.6 crore transferred to Ligare Aviation and immediately routed back to a Religare subsidiary the same day was not a genuine financial debt under IBC.
NCLAT's Principal Bench reverses NCLT Chandigarh's dismissal of nine IBC Section 7 applications filed by J&K Integrated Textiles Park, finding financial debt proved and Section 65 penalty unsustainable.
NCLAT upholds NCLT Mumbai's finding that a mortgage executed two months before CIRP commencement, securing a 2014 debenture debt, was preferential under Section 43 of the IBC.
NCLAT partly allows four IBC appeals, sets aside NCLT's finding that project Ananta Residency became Halwasiya's asset, and directs full document access to the Resolution Professional.
NCLAT Principal Bench finds no pre-existing dispute where the corporate debtor itself prepared and signed a consequence sheet quantifying the undisputed amount owed to the operational creditor.
