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.
corporate insolvency resolution process
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.
₹10.46 Crore in Claims, ₹1.55 Crore Recovered: NCLT Kolkata approves SIS Mohan Real Estate Resolution Plan
NCLT observed that it is not endowed with the powers of jurisdiction or authority to analyse or evaluate the commercial decision of the CoC.
Electricity supply is fundamental to revival of business operations: Calcutta HC applies Clean Slate principle; rejects late payment surcharge demand
A paper mill’s new owner took over under an approved resolution plan, but the electricity board still wanted over ₹2.5 crore in old dues and surcharges before switching the power back on. The Calcutta High Court said the clean slate principle doesn’t have exceptions for electricity bills.
India’s Evolving IBC and Competition Law Landscape: Key Takeaways from Khaitan & Co.’s Media Roundtable
From recent IBC amendments to evolving merger control and competition law enforcement, the roundtable examined the legal and regulatory developments shaping India’s commercial landscape and their implications for businesses and investors.
Forensic Audit of Project Accounts Permissible During CIRP; Rajasthan RERA Holds Section 14 IBC No Bar to Regulatory Inquiry
With expenditure claimed at 75—77% of project cost against actual physical progress of only 48.13%, the Authority ordered a limited forensic audit of the Avalon Royal Park project, distinguishing the RERA audit from IBC insolvency audit provisions and holding that the two frameworks can operate harmoniously without conflict.
IBC Cannot Be Invoked as a Coercive Recovery Tool in Individual Contractual Property Dispute Pending before DRT: Supreme Court
“The present case does not involve a straightforward financial debt-fault scenario warranting initiation of CIRP. The facts disclose a dispute which is predominantly contractual in nature and is subject matter of the proceedings before the DRT-the appropriate forum for recovery.”
From Withdrawal to Creditor Control: Key Shifts under the IBC Amendment Act, 2026
Insolvency and Bankruptcy Code (Amendment) Act, 2026 amends the IBC to ensure faster resolution, greater creditor oversight, improved accountability, and modernised insolvency and liquidation processes.
Pre-existing dispute irrelevant once debt and default proved: Supreme Court restores Section 7 IBC proceedings
Unapproved restructuring of loan facility not in compliance with the Debenture Trust Deed cannot defeat the admission of Section 7 IBC application once financial debt and default are established.
EPFO stakeholder claims based on assessment order post liquidation commencement date inadmissible: NCLAT
“Non-admission of the claim of the Appellant in liquidation proceeding shall not preclude it from taking such steps as available in law for realisation of its claim which arose after liquidation commencement date.”
No Financial Creditor status with invalid Debt Assignment: NCLAT sets aside initiation of CIRP under Section 7 IBC
“For maintaining an application for default of another Financial Creditor, the essential ingredients to be fulfilled by the Applicant is that the Applicant has to be a Financial Creditor on its own facts.”
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.”
Shardul Amarchand Mangaldas & Co. advises Committee of Creditors of Vadraj Cement on its Corporate Insolvency Resolution Process
Shardul Amarchand Mangaldas & Co. advised the Committee of Creditors (CoC) of Vadraj Cement Limited (VCL)
Setting Aside of an Executed Resolution Plan: Supreme Court’s Verdict in the JSW — Bhushan Steel Insolvency Case Saga Opens a Pandora Box
by Vasanth Rajasekaran and Harshvardhan Korada
‘Single Homebuyer can’t challenge CoC approved Resolution Plan’; NCLAT upholds CoC’s commercial wisdom
The Resolution Plan has been approved by 83.46% voting share of the CoC, therefore, at the instance of Appellant, approval of Resolution Plan cannot be allowed to be questioned.”
Is Time of Essence: A Test of IBC’s Timelines and Accountability
by Aseem Chaturvedi*, Arpit Kumar Singh**, Siddhant Kumar*** and Amaan Khan****
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.