IBC Laws

All about Indian Insolvency Laws

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provisional attachment order under the PMLA after remand by the Appellate Tribunal. Held that the remand order dated 11.03.2020 required the DRT....

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Reported at: (2026) https://t.co/LPECs7L6dR 199 DRAT

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DRAT-Delhi
A Chartered Accountant’s report cannot establish title over goods lying in the secured asset, and where the securitisation applicant proved ownership of raw material and finished goods, DRT’s direction to de-seal the premises and release the goods was rightly

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reiterated on remand

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 13(4); Prevention of Money Laundering Act, 2002 – dispute concerned release of movable goods lying in the secured premises and the effect of a

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Reported at: (2026) https://t.co/LPECs7L6dR 784 NCLAT

Bench: Mr. Justice Sharad Kumar Sharma (Judicial Member) and Mr. Jatindranath Swain (Technical Member)

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NCLAT-Chennai
A shareholder or personal guarantor has no locus to challenge a completed liquidation auction, and once sale stands confirmed, full consideration is paid, and sale certificate is issued, the auction cannot be set aside on unsubstantiated

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Challenge to liquidation e-auction by shareholder and personal guarantor of the corporate debtor, alleging irregular publication, reduction of reserve price, collusion, exclusion from stakeholders’ consultation committee....

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under Section 65 for fraudulent or malicious initiation

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Reported at: (2026) https://t.co/LPECs7L6dR 1963 NCLT

Bench: Shri Praveen Gupta (Judicial Member) and Shri Ashish Verma (Technical Member)

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NCLT-Allahabad Bench
A petition under Section 7 of IBC by real estate allottees is not maintainable where the applicants fail to satisfy the threshold under the second proviso to Section 7(1) of IBC, and dismissal on that ground alone does not justify action

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Reported at: (2026) https://t.co/LPECs7L6dR 2218 NCLT

Bench: Ms. Reeta Kohli (Judicial Member) and Ms. Kavita Bhatnagar (Technical Member)

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NCLT-Jaipur Bench
A Corporate Debtor can be ordered into liquidation u/s 33(2) of IBC on the CoC’s commercial decision even where no Form G is issued and no valuation is undertaken, if there are no identifiable assets, no investor interest and

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Application by Resolution Professional seeking liquidation of the corporate debtor and his appointment as liquidator, where the CoC consisting of sole financial creditor with 100% voting share resolved to liquidate after noting absence of assets, no....

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NCLT-Mumbai Bench
No contempt lies for non-handover of original title deeds when the bank did not possess them and there was no wilful disobedience of the NCLT’s order

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Reported at: (2026) https://t.co/LPECs7L6dR 2107 NCLT

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Mobilox Innovations Pvt. Ltd. v. Kirusa Software Pvt. Ltd., the Adjudicating Authority was only....

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Reported at: (2026) https://t.co/LPECs7L6dR 794 NCLAT

Bench: Mr. Justice Ashok Bhushan (Chairperson) and Mr. Barun Mitra (Technical Member)

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NCLAT-New Delhi
Where contemporaneous communications predating the Section 8 demand notice disclose work-performance disputes and a draft settlement record ongoing disputed claims, admission of an application u/s 9 of IBC is unsustainable

Insolvency and Bankruptcy Code, 2016 –

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Sections 8, 9, 9(5)(ii)(d) and 61. Issue was whether the operational creditor’s Section 9 application was maintainable despite the corporate debtor’s plea of pre-existing disputes arising from alleged deficient performance under the work order. Held that applying the test in

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Reported at: (2026) https://t.co/LPECs7L6dR 2165 NCLT

Bench: Mr. Shammi Khan (Judicial Member) and Mr. Sanjeev Sharma (Technical Member)

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NCLT-Ahmedabad Bench
Replacement of a Resolution Professional under Section 27 of #IBC requires a prior CoC resolution passed in a duly convened meeting with requisite voting share, and the #NCLT cannot directly substitute the RP in absence of such compliance

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Reported at: (2026) https://t.co/LPECs7L6dR 490 DRT

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DRT-Chennai
Returned RPAD notices do not invalidate #SARFAESI action where notice was sent to the recorded address, affixed, published, and the borrower failed to redeem before publication of the sale notice

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