₹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.
Resolution Professional
NCLT Kolkata Holds Title Disputes Over Property Cannot be Decided Under Section 60(5) IBC
Section 18(1)(f)(vi) IBC empowers the resolution professional to take control and custody of any asset over which the corporate debtor has ownership rights as reflected in its balance sheet, information utility, depository of securities, or any other registry recording ownership of assets, including assets subject to the determination of ownership by a court or authority.
IBBI CIRP Fourth Amendment 2026: Key Changes to CoC Assistance, Cost Approval & Resolution Plan Rules
The amendment introduces key changes to enhance transparency and decision-making in insolvency proceedings.
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.
IBBI (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2026: Key Changes to Appointment of Professionals
This amendment introduces key changes to Regulation 27 on the appointment of professionals under the CIRP framework with an exception for MSMEs.
IBC vests decisive authority on CoC’s commercial wisdom; Confines judicial review strictly under Ss. 30(2) & 61(3) IBC: Supreme Court
“Commercial wisdom of the CoC enjoys primacy and cannot be supplanted by judicial review. Neither the NCLT, nor the NCLAT nor even this Court is empowered to substitute its assessment in place of the commercial decision arrived at by a requisite majority of the CoC”.
SC issues notice in appeal challenging lay-offs during insolvency: Key questions raised on IBC-ID Act Conflict
The appeal challenges the NCLAT’s order upholding a purported lay-off by Resolution Professional, which the appellant claims was a disguised and unlawful retrenchment. The Court is set to examine whether IBC overrides ID Act provisions and whether such retrenchments can legally occur under the garb of lay-offs during insolvency proceedings.
Insolvency proceedings no shield for Directors in cheque dishonour cases under S. 138 NI Act: Orissa HC
“On the request of the petitioner, the complainant waited and represented the cheque through its banker, but once again it got dishonoured with the same remark – refer to drawer.”
Resolution Professional to be appointed as liquidator unless replaced by Adjudicating Authority on grounds provided in Section 34 IBC: NCLAT
The power envisaged under Section 34(4)(b) of the IBC is a power to recommend the replacement of the particular Resolution Professional on facts specific to that individual and is not a general power that could be exercised by the IBBI for issuing the Circular.
‘Resolution plans comply with IBC and CIRP Regulations’; NCLT approves Adani Properties acquisition of two HDIL assets
Reiterating that the commercial wisdom of the CoC is to be given paramount importance for approval/rejection of the Resolution Plan, the NCLT held that the Resolution Plans in the present case met the requirements of the IBC and the IBBI Regulations, and thus, had to be approved.
Real Estate Insolvency 2.0: A Game-Changer or More Red Tape
by Isheeta Jain*
IBBI amends regulations streamlining Corporate Insolvency Resolution Process
Facilitator can be appointed by the committee for a sub-class within creditors
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.”
Supreme Court overturns NCLAT judgment that closed insolvency process against Byju’s, following settlement with BCCI
The present appeal raises substantial questions about the legal framework governing the withdrawal of a CIRP; the settlement of claims after the admission of an application instituted by a debtor; and the scope of the inherent powers vested in the NCLAT under Rule 11 of the NCLAT Rules.
Delhi High Court directs Disclosure of Forensic Audit Report on Show Cause Notices by IDBI Bank
A forensic audit was conducted by Grant Thornton LLP at the request of the respondent-bank. The audit led to the withdrawal of the ‘red flagging’ of the company’s account.
IBBI’s Update to CIRP Regulations: Revisions and Reflections
by Prakul Thadi* and Sarthika Singhal**
Supreme Court | NCLT can recall Resolution Plan approval despite misclassification of Creditor’s claim under IBC on submission of proof
The dues shown payable to the appellant was Rs. 13,47,40,819 while the appellant claimed it to be Rs. 43,40,31,951.
Explained| Supreme Court verdict upholding constitutional validity of provisions relating to Personal Guarantors in IBC
“The principle aims of IBC are to promote investment, and resolution of insolvencies of corporate persons, firms, and individuals in a time bound manner. The IBC consolidated and amended a web of laws which had led to an ineffective and inefficient mechanism for resolution of insolvencies marked with significant delay”
NCLAT issues notice in appeal against NCLT’s rejection of challenge to Lay-Off notice under Industrial Disputes Act
The main contention of the appellants is that the lay-off notice was not issued in accordance with the provisions of the Industrial Disputes Act, 1947.
In project wise insolvency, IRP/RP cannot seek unpaid Fees/Costs from members of CoCs of another project of Corporate Debtor: NCLAT
The NCLAT held that the appellant has no Locus Standi to make claim for any unpaid Fees/Costs from the members of the CoCs, as he is neither the RP in the project nor is connected with another project.