NCLT Ahmedabad Bars MIDC From Demolishing Structures on K-Lifestyle's Dombivli Plots During CIRP

The Ahmedabad bench of the National Company Law Tribunal (NCLT) has restrained the Maharashtra Industrial Development Corporation (MIDC) from taking coercive action against K-Lifestyle & Industries Ltd during its Corporate Insolvency Resolution Process (CIRP). It held that demolition and lease termination cannot proceed during the subsistence of the moratorium. A bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma said: “The contention of the Respondent that the...

Lease Termination, Eviction During IBC Moratorium Of Gujarat Hydrocarbons And Power SEZ Invalid: Gujarat HC

The Gujarat High Court has dismissed an appeal by Gujarat Industrial Development Corporation and upheld the quashing of its decision to terminate a lease and evict Gujarat Hydrocarbons and Power SEZ Ltd during insolvency proceedings. The court held that both the termination of the lease and the eviction action were “non est, illegal and bad in law” as they were taken during the moratorium period. “Given the object of Section 14(1) of the IBC' 2016, in the facts of the present case, neither the...

Supreme Court Continues Symbolic Possession Of Tower-5 By RP In Morpheus Bluebell CIRP

The Supreme Court of India has directed that the interim arrangement permitting only symbolic possession of Tower-5 by the Resolution Professional of the Morpheus Bluebell project developed by Morpheus Prodevelopers Pvt Ltd shall continue. The company is undergoing the Corporate Insolvency Resolution Process (CIRP) in the Morpheus Bluebell project. The Court was hearing an appeal filed by SGN Universal Construction Company Private Limited against the National Company Law Appellate Tribunal's...

NCLAT Upholds Rejection Of Prospective Homebuyer's Plea To Join Koncept Nirman's CIRP

The National Company Law Appellate Tribunal (NCLAT), Chennai, has held that a prospective homebuyer who relied on an unregistered agreement to purchase a flat from Koncept Nirman Private Limited cannot intervene in insolvency proceedings initiated against the company by a financial creditor. A bench of Judicial Member Justice Sharad Kumar Sharma and Technical Member Jatindranath Swain observed, “In the instant case, the Appellant herein doesn't owe a financial debt, at the behest of the...

Pollution Control Authorities Cannot Take Coercive Steps During IBC Moratorium: NCLT Bengaluru

The National Company Law Tribunal (NCLT) in Bengaluru has recently held that pollution control authorities cannot take coercive steps that disrupt the operations of a corporate debtor during the moratorium, even though they can continue regulatory oversight. A bench of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada held,“We are of a considered view that a distinction is required to be drawn between: Regulatory actions undertaken in public interest to ensure...

IBC Monthly Digest: April 2026

SUPREME COURT Vedanta Moves Supreme Court Against NCLAT Refusal To Stay Implementation Of Adani's JAL Resolution PlanCase Title : Vedanta Limited vs Bhuvan Madan Case Number : Diary No. 18505 of 2026Vedanta Ltd has moved the Supreme Court assailing the National Company Law Appellate Tribunal's order declining interim relief against implementation of Adani Enterprises' resolution plan for Jaiprakash Associates Ltd. The plan, approved by the NCLT on March 17, 2026, with...

NCLT Delhi Holds Demand Notice Valid Despite Service At Unregistered Email, Cites Use In Prior Dealings

The National Company Law Tribunal (NCLT), New Delhi, has found that a demand notice under the Insolvency and Bankruptcy Code was valid despite being sent to an unregistered email ID, as it had been consistently used in prior dealings between the parties.The order was passed by a bench of Judicial Member Jyotsna Sharma and Technical Member Anu Jagmohan Singh.“with regard to the Demand Notice being served by the Operational Creditor on the unregistered email id of the Corporate Debtor, we note...

NCLT Ahmedabad Rejects Gensol RP Plea Against Termination Of ₹48.29 Crore EPC Contract By HMEL

The Ahmedabad bench of the National Company Law Tribunal (NCLT) has dismissed a plea challenging the termination of a Rs. 48.29 crore EPC contract awarded to Gensol Engineering Ltd. The bench of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma observed that the termination was based on pre-existing contractual breaches and not solely on the company's insolvency.“...the mere temporal proximity between initiation of CIRP and termination does not establish causation,...

NCLT Mumbai Denies Tata Capital Bid To Enforce Security After Participating In Jans Copper Liquidation

The National Company Law Tribunal, Mumbai Bench, has dismissed a plea by Tata Capital Financial Services Ltd. in the liquidation of Jans Copper Pvt. Ltd. It held that the creditor cannot later seek to enforce its security after participating in the liquidation process and failing to clearly state its position.The bench of Judicial Member K.R. Saji Kumar and Technical Member Anil Raj Chellan held that the creditor failed to comply with the requirement of clearly communicating its decision...

NCLT Mumbai Dismisses RP's Plea Against ₹260 Crore RCIL Receivables Assignment, Finds No Fraud

The National Company Law Tribunal (NCLT) in Mumbai has held that a Rs.260 crore inter-company assignment involving Reliance Communications Infrastructure Ltd (RCIL) was not fraudulent, as it caused no loss to creditors. The tribunal dismissed a plea filed by the company's Resolution Professional A Bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar was dealing with the application, in which the Resolution Professional alleged that the assignment of receivables...

NCLAT Upholds Insolvency Against Takshashila Heights Guarantors, Finds No Error In PoA Holder Competence

The National Company Law Appellate Tribunal (NCLAT) at New Delhi has upheld insolvency proceedings against personal guarantors of Takshashila Heights India Private Limited, rejecting their challenge to the debenture trustee's authority to initiate the case. The appeals were filed against orders admitting applications under Section 95 of the Insolvency and Bankruptcy Code by IDBI Trusteeship Services Ltd. The bench of Justice Ashok Bhushan and Technical Member Indevar Pandey heard the matter. ...

NCLT Mumbai Refers Eros–Aanand L. Rai Dispute Over Colour Yellow Productions To Arbitration

The National Company Law Tribunal (NCLT) at Mumbai on Tuesday recently referred to arbitration a dispute between Eros International Media Ltd and filmmaker Aanand L. Rai arising from their investment and contractual arrangements in Colour Yellow Productions Pvt. Ltd. It held that Eros' company petition was a dressed-up attempt to bypass arbitration.A bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar was hearing a petition by Eros alleging fund diversion...