Can a third party take back goods from a company in CIRP? NCLT dismisses Ancile’s Claim to pharmaceutical goods
NCLT Mumbai found the Istisna and Wakala arrangement financial, and the claimed goods could not be found.
National Company Law Tribunal
IBC appeal limitation: Supreme Court says time runs from NCLAT pronouncement, not collection of certified copy
The Court examined the statutory time-limit for appeals, exclusion of time spent obtaining a certified copy, and the effect of delay in applying for the copy.
Decoding Boardroom Dynamics 2.0: National workshop, boardroom simulation & NCLT trial competition, 2026
The Corporate Law Committee, Presidency School of Law, Presidency University, Bengaluru, in collaboration with the Institute of Company Secretaries of India (ICSI), Bengaluru Chapter, SCC Times and Headway DM LLP, is organising “Decoding Boardroom Dynamics 2.0”, a two-day National Boardroom Simulation and NCLT Trial Competition on 16 and 17 October 2026. The event seeks to bridge academic learning and professional practice through realistic simulations of corporate governance, boardroom decision-making and NCLT proceedings, while fostering participants’ strategic thinking, negotiation, advocacy, corporate decision-making and problem-solving skills.
No Endless Refiling: NCLT Streamlines Scrutiny, Registration and First Listing
The National Company Law Tribunal has introduced uniform Registry and case-listing practices, preparation of daily cause lists, prescribing timelines for first listing and a “With Defects” mechanism for matters requiring judicial determination
S. 138 NI Act action against Directors continues despite prior initiation of IBC proceedings; Bombay High Court reiterates
“It made no difference whether the NI Act proceedings were initiated prior to initiation of IBC proceeding or thereafter as it was a settled principle that natural persons could not escape from their personal liability under Section 138 of the NI Act.”
Madras HC: NCLT bound to appoint applicant-recommended Interim Resolution Professional under Ss. 7 and 10 of IBC
“In regard to an application under Sections 7 or under 10 of the IB Code, the professional recommended by the applicant must mandatorily be appointed as IRP, the only caveat being that no disciplinary proceedings should be pending as against him, leaving no elbowroom to the NCLT to take a different view.”
‘Secured Creditor who relinquishes interest cannot seek priority among others based on charge’; NCLT directs distribution of sale proceeds of Monnet Power’s assets
“Once a Secured Creditor relinquishes its security interest to the liquidation estate, it cannot seek priority among other Secured Creditors on the basis of the charge and is only entitled to receive proceeds from the sale of assets in the manner specified under Section 53 of the IBC.”
Protection of minority shareholder rights | NCLT lays down structured buy-out mechanism to resolve deadlock between shareholders
The NCLT gave the first right to buy shares to the petitioners and then the Deccan Group. If neither party purchased the other’s shares, the NCLT would consider winding up the company under Section 242(1)(b) of the Companies Act.
Force Majeure doesn’t absolve Corporate Debtor from contractual obligations; NCLT directs initiation of CIRP against Corporate Debtor
The NCLT acknowledged the impact of force majeure events, particularly the unprecedented rise in coal prices and operational disruptions caused by the COVID-19 pandemic on Corporate Debtor.
NCLT rejects Vedanta Ltd.’s demerger plan over non-disclosure of SEPCO’s debt and procedural irregularities
“The present one is a case where material facts have not been disclosed by the Applicant Company, violating Section 230 (2)(a) of the Companies Act, 2013, which in our considered opinion is bound to prejudice the public interest at large.”
Supreme Court’s Ruling in China Development Bank Creates Further Confusion on Third-Party Securities
by Prachi Johri* and Rishi Thakur**
Call for Submissions | NLS Business Law Review [Volume 11(2)]
Editorial Board to the NLS Business Law Review is calling for submissions for Volume 11(2) of the Journal
Cyril Amarchand Mangaldas advises Hindustan Unilever Limited on the demerger of its Ice-Cream Business into Kwality Wall’s (India) Limited
Cyril Amarchand Mangaldas (“CAM”) advised Hindustan Unilever Limited (HUL)
NCLT dismisses Akshay Kumar’s insolvency plea against Math tutoring platform, Cue Learn
“The essence of the IBC lies in resolving insolvency matters through a process driven approach, and any deviation from its prescribed scope would undermine the legislative intent of the Code.”
NCLT allows liquidation of Go First Airways
“Decision taken by the CoC for liquidation in commercial wisdom of the CoC should not be interfered with by the Adjudicating Authority.”
‘Delays arising from statutory compliance not force majeure’; NCLT admits insolvency proceeding against Raheja Developers
The NCLT held that non-delivery of possession despite payments and continued acknowledgment of liability through emails and communications proved default under Section 7 IBC.
‘Absence of NOC not automatically invalidates Security Documents’; NCLT upholds Axis Bank & NKGSB Bank’s claims as Secured Debt
The NCLT held that the Resolution Professional does not have adjudicatory powers to invalidate or challenge the charges based on an absence of NOC.
Cyril Amarchand Mangaldas acts as legal counsel for IDFC Limited and IDFC Financial Holding Company Limited
Cyril Amarchand Mangaldas (CAM) advised IDFC Limited (“IDFC”) and IDFC Financial Holding Company Limited (“IDFC FHC”)
Buy-Out of one Group by other a preferred remedy to resolve deadlock in equal shareholding companies: NCLT
The instant matter revolved around a deadlock in management caused by alleged financial mismanagement and oppressive actions by the respondents.