Justice Yogesh Khanna takes charge as Officiating Chairperson of NCLAT
Justice Yogesh Khanna’s appointment was made w.e.f 5 July 2026 after the conclusion of former Chairman, Justice Ashok Bhushan’s tenure on 4 July 2026.
Justice Ashok Bhushan
Justice Ashok Bhushan concludes tenure as NCLAT Chairman: Throwback to an illustrious career and key decisions
After an extensive career as an advocate and an equally extensive judicial career including the Supreme Court of India, Justice Ashok Bhushan took over as Chairman of NCLAT in 2021.
NCLAT refuses to condone 1-day delay beyond statutory 45-day limit under Section 61(2) IBC despite e-filing portal glitches
NCLAT observed that Tribunal cannot clothe itself with a jurisdiction which has not been vested upon it by the legislature. Thus, grant condonation of delay beyond the 15th day even on equitable consideration or on the ground of hardship or technical considerations will amount to jettisoning the intent of the legislature which is impermissible.
Sale of encumbered assets with secured creditors’ consent permitted under CIRP Regulation 29: NCLAT
Commercial wisdom of the CoC in choosing the mode and counter-party of sale of assets, whether core or non-core, encumbered or unencumbered, is non-justiciable, barring jurisdictional or regulatory violations.
Zee Entertainment guarantor’s liability arises only upon invocation of demand guarantee by IDBI: NCLAT dismisses IDBI’s plea to initiate CIRP
“There shall be liberty to the appellant to file a fresh Section 7 application for any default on the part of the corporate debtor subsequent to 10A period.”
Acknowledgment of Balance Sheet under Section 18 of Limitation Act to be counted from date of signing of Balance Sheet: NCLAT
“There is no mandatory requirement for factorising the date of uploading of the balance sheet on the MCA portal for computing the period of limitation.”
Electricity is an “essential service” under Section 14(2) IBC; can’t be discontinued even if dues remain unpaid during CIRP: NCLAT
“If the Corporate Debtor operates as a manufacturing facility, then electricity may be treated as critical service by the insolvency professional and the dues for such services must be paid.”
Financial Creditors’ involvement in project monitoring does not absolve Corporate Debtors from repayment obligations: NCLAT
“Any dispute even pending in the arbitration does not in any manner prohibit the financial creditor to take remedy under Section 7 IBC.”
NCLAT upholds Central government’s takeover of Delhi Gymkhana Club; directs conduct of elections for management restoration
The NCLAT noted that the NCLT had not delegated its jurisdiction to the 15-member committee but tasked the committee to act under the NCLT’s oversight, ensuring compliance with its guidance and observations.
‘A One Time Settlement agreement cannot extend the date of default’; NCLAT dismisses Samrat Restaurant’s CIRP plea
The NCLAT held the appellant’s claim was inflated, and the Adjudicating Authority rightly recalculated the actual unpaid amount, which fell below the Rs 1 crore threshold.
NCLAT upholds Resolution plan and affirms parties’ right to seek redress for ‘reliefs and concessions’ in Competent Court
The NCLAT upheld the grant of reliefs and concessions regarding shared utilities and services in Resolution Plan to facilitate the smooth and successful implementation of the Resolution Plan.
CoCs cannot consider Resolution Plans from applicants not listed in Prospective Resolution Applicants’ List: NCLAT
NCLAT held that CoCs’ resolution not to consider Resolution Plans from additional new entrants rendered the NCLAT’s orders unsustainable.
NCLAT affirms NCLT’s rejection of application for valuation queries post-resolution plan approval
In the instant matter, the NCLT rejected the application, noting the approval of the resolution by the Committee of Creditors and the absence of filing through an authorized representative.
IBC| Doctrine of promissory estoppel cannot be applied against approved Resolution Plan: NCLAT
NCLAT upheld the Adjudicating Authority’s order on finding no error in rejecting the appellant’s objections to the Resolution Plan.
‘Admitted Claim versus Security Interest’; NCLAT determines how to distribute Corporate Debtor’s assets to Secured Creditors
The NCLAT reiterated that Commercial wisdom of the CoC is crucial in determining the viability and feasibility of a resolution plan.
Belated claims, even if allegedly due to fraud, may not be admitted once Resolution Plan is approved: NCLAT
The NCLAT rejected Resolution Professional’s reliance on Section 17 of the Limitation Act, 1963, as no fraud was found on the part of the Corporate Debtor.
‘Withdrawal of suit cannot be considered as failure of prior proceeding’; NCLAT rejects Section 9 application as being time-barred
A mere availability of arbitration or any other proceeding could not preclude the operational creditor from initiating proceedings under Section 9 of the IBC. The critical question would be whether the application was filed within the limitation period.
[Go Airlines] NCLAT allows inspection of leased Aircraft Engines
NCLAT held that the impugned order passed by the Adjudicating Authority is at a prima facie stage and should not be treated as a final expression of opinion.
Operational Creditor cannot claim payment equal to Financial Creditor in Insolvency proceeding under IBC: NCLAT
The principle of equality is applicable only in same class of creditors, i.e., secured or unsecured, financial or operational.
Liquidation| Successful Bidder of sale as going concern can only pray for necessary directions in accordance with the process document: NCLAT
The NCLAT stated that prayers in general or in a very wide term or which is too elaborate as prayed in the applicant’s application may not require any consideration by the Adjudicating Authority.