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.
National Company Law Appellate Tribunal
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.
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.
‘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.”
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.”
In Conversation with Advocate-on-Record Arunava Mukherjee: Perspectives on Justice and Jurisprudence
Interviewed by Anish Mishra
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.
Money advanced for clearing land title is an investment, not financial debt under Section 5(8) of the IBC: NCLAT
The NCLAT reinforced that not all financial transactions qualify as financial debts under the IBC.
Inter-Corporate Loans and Deposits: Treatment of Such Debts in Case of Default
by Sidharth Sethi† and Shreya Sircar††
Procedural orders directing consolidation of related petitions not appealable under Section 421 of Companies Act: NCLAT
The NCLAT criticized the appellants for unnecessarily burdening the Tribunal with excessive documentation, voluminous records and citations of little value, thereby wasting Tribunal’s resources and acting contrary to professional ethics.
CCI’s Obligation to Put Parties under Investigation to Notice — An Analysis of a Recent Madras High Court Ruling
by Neelambera Sandeepan* and Srivaishanavi R.**
Resolution versus Penalisation: Is IBC Deviating from its Purpose?
by Shekhar Raj Sharma* and Akshita Grover**
Homebuyers/Allottees with or without RERA orders are treated equally under Section 7(1) proviso (2) IBC: NCLAT
The NCLAT held that the appellant, having obtained a recovery certificate from RERA, qualified as Financial Creditors.
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.
‘Merely shared management not enough to establish liability’; NCLAT finds claims against Corporate Debtor untenable
The NCLAT warned against manipulating the IBC for debt recovery purposes, as it would defeat the code’s purpose of rehabilitating Corporate Debtors.