India - National Company Law Tribunal

Suspended Director Has Locus to Challenge Time-Barred Claims; Debt Held Time-Barred in Prior S.7 Proceeding Cannot Be Admitted in CIRP: NCLT Mumbai

NCLT Mumbai Partially Allows Suspended Directors' Plea, Excludes Phoenix ARC's Time-Barred Debt from CIRP Mumbai, July 17, 2025– The National Company Law Tribunal (NCLT), Mumbai Bench, has delivered a significant ruling on the scope of a Resolution Professional's (RP) duty in verifying claims...

22 Jul 2025

India - National Company Law Tribunal

NCLT Approves Resolution Plan Under IBC S.30 After Re-Voting, Pulling Corporate Debtor from Brink of Liquidation

NCLT Greenlights Resolution Plan for Shri Fakirchand Enterprises After Dramatic Re-Vote Halts Liquidation Mumbai- In a significant ruling that underscores the objective of the Insolvency and Bankruptcy Code (IBC) to revive distressed companies, the National Company Law Tribunal (NCLT), Mumbai...

22 Jul 2025

India -

NCLT Approves HBS Auto & Anc SEZ Resolution Plan Worth ₹47 Crore, Extinguishing Pre-CIRP Claims Under IBC Sections 30(6) & 31

NCLT Mumbai Bench Approves ₹47 Crore Resolution Plan for HBS Auto & Anc SEZ Pvt. Ltd. Mumbai:The National Company Law Tribunal (NCLT), Mumbai Bench, comprising JusticeVirendrasingh G. Bisht(Retd.), Member (Judicial), and Sh. Prabhat Kumar, Member (Technical), has granted approval to the resol...

07 Jun 2025

India -

Post-CIRP Customs Demand Extinguished as Claim Not Filed During Insolvency Process: NCLT

Patanjali Foods Wins Relief as NCLT Quashes Post-CIRP Customs Demand Ahmedabad, India– In a significant ruling for corporate insolvency jurisprudence, the National Company Law Tribunal (NCLT) Ahmedabad Bench has quashed a demand raised by the Additional Commissioner of Customs, Kandla, agains...

19 Apr 2025

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NCLT Approves Resolution Plan for HBS Auto & ANC SEZ, Paving Way for Revival Under Consortium

NCLT Greenlights Resolution Plan for HBS Auto & ANC SEZ, Consortium to Take OverMumbai, India– In a significant development for corporate insolvency resolution, the National Company Law Tribunal (NCLT) has approved a resolution plan for HBS Auto & ANC SEZPrivate Limited, a real estate develop...

13 Mar 2025