SUPREME COURT
Promise To Arrange Funds In Case of Default Does Not Make Promoter A Guarantor: Supreme Court
Case Title: UV Asset Reconstruction Company Limited v. Electrosteel Castings Limited
Citation: 2026 LLBiz SC 3
Case Number: Civil Appeal No. 9701 of 2024
The Supreme Court of India has held that a promoter's promise to arrange funds to help a borrower meet financial covenants does not amount to a contract of guarantee under the Indian Contract Act and cannot be used to fasten insolvency liability on the promoter. A bench of Justice Sanjay Kumar and Justice Alok Aradhe said that for an obligation to qualify as a guarantee under Section 126 of the Act, there must be a clear and unambiguous promise by the surety to repay the borrower's debt if the borrower defaults.
Case Title: Ansal Crown Heights Flat Buyers Association (Regd.) v. M/S. Ansal Crown Infrabuild Pvt. Ltd. & Ors.
Citation: 2026 LLBiz SC 7
Case Number: Civil Appeal Nos. 8465-8466 of 2024
In a dispute over delayed flat delivery, the Supreme Court has said execution proceedings cannot be used as a “surrogate forum” to fix personal liability on company directors when the consumer court order was passed only against the developer company.
A bench of Justice Dipankar Datta and Justice Augustine George Masih upheld the National Consumer Disputes Redressal Commission's refusal to proceed against the directors of Ansal Crown Infrabuild Pvt Ltd. The court said the case never went beyond the company and that line could not be crossed later at the enforcement stage.
Citation: Citation: 2026 LLBiz SC 13
Case Number: Civil Appeal No. 10261 of 2025
Case Title : Case Title: Elegna Co-op Housing And Commercial Society Ltd. v. Edelweiss Asset Reconstruction Company Limited & Anr.
The Supreme Court has held that housing societies lack the locus standi to intervene in the admission stage of insolvency proceedings, ruling that “right to initiate or participate in CIRP flows from the debt transaction and the statute, not from associative or representational interest.” While limiting third-party intervention, the court simultaneously directed that the Committee of Creditors (CoC) “shall mandatorily record cogent and specific reasons in writing” whenever it recommends liquidation or denies possession to homebuyers.
HIGH COURT
Delhi High Court Sets Aside Arbitration Against Bhushan Steel Following Tata Steel Takeover
Citation: 2026 LLBiz HC (DEL) 32
Case Number : W.P.(C) 10431/2020 & CM APPL. 33016/2020
Case Title : Tata Steel Limited v. Ministry of Corporate Affairs and Anr.
The Delhi High Court has set aside an arbitral tribunal order that allowed arbitration to continue against Tata Steel, formerly Bhushan Steel, even after its resolution plan under the Insolvency and Bankruptcy Code was approved. A single-judge bench of Justice Amit Sharma allowed Tata Steel's writ petition and quashed the tribunal's October 7, 2020 order. The court said that once a resolution plan is approved, it binds all creditors.
Case Title: Ahmednagar Forgings Ltd vs Dongare Ganesh D
Case Citation: 2026 LLBiz HC (BOM) 26
Case Number: Writ Petition No. 11862 of 2025
The Bombay High Court has held that once a resolution plan is approved by the National Company Law Tribunal (NCLT), labour courts and industrial tribunals cannot continue or entertain employee claims, including claims seeking reinstatement without back wages. Justice Arun R. Pedneker made the observation while allowing a batch of writ petitions filed by Ahmednagar Forgings Ltd, now Metalyst Forgings Ltd., challenging orders passed by the Labour Court and Industrial Tribunal at Aurangabad.
NCLAT
Case Title: Shiv Raj Singh v. Kempty Konstructions Pvt. Ltd and Ors
Citation: 2026 LLBiz NCLAT 8
Case Number: Company Appeal (AT) No.403/2024
The National Company Law Appellate Tribunal (NCLAT) at New Delhi has recently reiterated that civil courts have no jurisdiction over disputes relating to rectification of a company's register of members, holding that such powers vest exclusively with the National Company Law Tribunal under the Companies Act, 2013. A bench of Judicial Member Justice Yogesh Khanna and Technical Member Indevar Pandey held that the NCLT had taken an incorrect view by refusing to decide a rectification petition merely because related issues were pending before a civil court.
Case Title: In the Matter of: Consortium led by Syonira Invecast Pvt. Ltd v. Employees' Provident Fund Organisation & Anr.
Case Number: Company Appeal (AT) (Ins.) No. 2319 of 2024
Citation: 2026 LLBiz NCLAT 9
The National Company Law Appellate Tribunal (NCLAT) New Delhi has held that no assessment proceedings can be initiated or continued during the moratorium period under Section 14 of the Insolvency and Bankruptcy Code, 2016 (IBC) and no claim based on such assessment can be enforced against the Successful Resolution Applicant (SRA) after approval of the Resolution Plan. Section 14 of the IBC introduces a moratorium that halts legal actions against a corporate debtor once insolvency proceedings begin.
NCLT
NCLT Mumbai Approves Supreme Capinfra's Rs. 96 Crore Plan To Revive C & M Farming
Case Title: Orion Resolution & Turnaround Pvt Ltd vs Committee of Creditors of C and M Farming Ltd
Case Citation: 2026 LLBiz NCLT (MUM) 38
Case Number: IA (PLAN)/66/2025 in CP (IB)/1031(MB)2021
The National Company Law Tribunal (NCLT) at Mumbai has approved a Rs 96.81 crore resolution plan for the revival of C and M Farming Ltd, a poultry business. The tribunal held that once a resolution plan meets the requirements of the Insolvency and Bankruptcy Code, it cannot interfere with the commercial decisions of the Committee of Creditors. A coram comprising Judicial Member Mohan Prasad Tiwari and Technical Member Charanjeet Singh Gulati passed the order on January 9. The bench found the plan to be fully compliant with Section 30(2) of the Code and the applicable regulations.
Delay In Seeking Revised Valuation Of Asset Not Enough To Term It Sham: NCLT Mumbai
Case Title: Subhash Ganpatrao Buty vs Pankaj Bhattad
Case Citation: 2026 LLBiz NCLT (MUM) 37
Case Number: IA NO. 5019 of 2025 in CP No. (IB) 1180 (MB) 2022
The National Company Law Tribunal (NCLT) at Mumbai has held that a revised valuation obtained after discovery of additional restrictions on a property cannot be dismissed as a sham merely because there was a delay in seeking such revision. It said valuation is a technical exercise and must be assessed in light of the facts available to the valuer at the relevant time.
Disputed Property Cannot Be Excluded From Information Memorandum After CoC Approval: NCLT Mumbai
Case Title: Jayesh Krushnakant Parekh vs Orion Resolution & Turnaround Pvt Ltd
Case Citation: 2026 LLBiz NCLT (MUM) 36
Case Number: IA (IBC) No. 2137 of 2025 in CP (IB) No. 1031/MB/2021
The National Company Law Tribunal (NCLT) at Mumbai has held that once a resolution plan is approved by the Committee of Creditors (CoC) and awaits confirmation, permitting amendments to the Information Memorandum would unsettle the resolution process.
Case Title: Techntrans Construction India Pvt Ltd vs SBI
Case Citation: 2026 LLBiz NCLT (HYD) 40
Case Number: IA (IBC)/1616/2025 in CP (IB)/74/94/HDB/2024
The National Company Law Tribunal (NCLT) at Hyderabad has recently ordered the bankruptcy of Pasam Laxmi Srinivas Reddy, the personal guarantor of Techtrans Constructions India Private Limited, an infrastructure firm. The tribunal said there was no repayment plan on record and no way forward for resolution. The order was passed by Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri. Setting out the reason in clear terms, the bench said, “Admittedly, the repayment plan has not been submitted by the personal guarantor, and since there is no resolution plan for resolving the insolvency, we accept the prayer of the applicant and admit this petition to declare the personal guarantor bankrupt.”
NCLT Hyderabad Orders Dissolution of Srianagha Sky Scrapers After Voluntary Liquidation Under IBC
Case Title: Srinagha Sky Scrapers Pvt Ltd and Registrar of Companies, Telangana
Case Citation: 2026 LLBiz NCLT (HYD) 41
Case Number: CP (IB)/110/59/HDB/2025
The National Company Law Tribunal (NCLT) has recently ordered the dissolution of Srianagha Sky Scrapers Private Limited, a Hyderabad-based infrastructure company, after recording the successful completion of its voluntary liquidation under the Insolvency and Bankruptcy Code, 2016. The order was passed by the Hyderabad Bench on January 8, 2026. A coram comprising Judicial Member Rajeev Bhardwaj and Technical Member Sanjay Puri, said it was satisfied that the process was carried out strictly as required under the law.
Requests For Time Or Settlement Does Not Amount To Pre-Existing Dispute Under IBC: NCLT Mumbai
Case Title: Incred Value Plus Pvt Ltd vs Atum Capital Pvt Ltd
Case Citation: 2026 LLBiz NCLT (MUM) 44
Case Number: CP (IB)/894/MB/2025
The National Company Law Tribunal at Mumbai has held that requests for time, settlement, or proposals for alternative arrangements does not amount to a dispute under the Insolvency and Bankruptcy Code and therefore do not negate an admitted liability. A coram of Judicial Member Nilesh Sharma and Technical Member Sameer Kakar, in an order dated January 12, said such communications far from raising a genuine dispute, often reinforce acknowledgement of debt.
Recall Order Cannot Cure Failure To File Claims During Liquidation: NCLT Ahmedabad
Case Title: Pratham Realty Developers v. Nirav Tarkas and Ors.
Citation: 2026 LLBiz NCLT (AHM) 43
Case Number: IA/377(AHM)2021 in C.P. (I.B.) No. 03 (AHM) 2017
Holding that reopening a matter for fresh hearing cannot make up for a failure to follow mandatory legal procedures, the National Company Law Tribunal at Ahmedabad has dismissed an insolvency-related application filed by Pratham Reality Developers Private Limited against Stratus Foods Pvt. Ltd The application sought payment of licence fees, occupation charges and other dues during the liquidation process.
Case Title: Sagar Sharma & Anr. vs Committee of Creditors & Anr.
Case Citation: 2026 LLBiz NCLT (MUM) 45
Case Number: I.A. NO. 4764 OF 2025 IN C.P. NO. (IB) 1241 (MB) OF 2022
The National Company Law Tribunal (NCLT) at Mumbai has clarified that a member of the Committee of Creditors (CoC) is not barred from voting on a resolution plan merely because its related persons have an interest in the consortium of a resolution applicant. It said insolvency law does not prescribe any such disqualification on the ground of conflict of interest. A coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar dismissed an application filed by the suspended promoters of Hotel Horizon Pvt Ltd challenging the approval of a resolution plan during its corporate insolvency resolution process.
Interest-Free Loans, Write-Offs Not Fraudulent Per Se Without Intent: NCLT Mumbai
Case Title: Dinkar T. Venkatasubramanian vs Arun Kumar Maiti and Ors.
Case Citation: 2026 LLBiz NCLT (MUM) 46
Case Number: IA 2839 of 2024 In CP IB 1555 of 2017
The Mumbai bench of the National Company Law Tribunal (NCLT) has held that accounting irregularities or regulatory violations, including the grant of interest-free advances, do not by themselves amount to fraudulent trading. It clarified that fraudulent trading can be established only when there is clear, cogent evidence showing an intent to defraud creditors, assessed in the context of the company's business model.
Financial Creditor Cannot Avoid Liquidation Costs After Settling Dues Through OTS: NCLT Bengaluru
Case Title: Ravindranath Narayana Rao v. Jammu & Kashmir Bank Ltd
Case Number: I.A. No. 397 of 2025 in C.P. (IB) No. 286/BB/2019
Citation: 2026 LLBiz NCLT (BEN) 49
The National Company Law Tribunal (NCLT) at Bengaluru has held that a financial creditor that participated in the liquidation process and secured its dues through a one-time settlement cannot later avoid paying its share of liquidation costs for the ime it had taken part in it. A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada directed Jammu & Kashmir Bank Ltd to bear its proportionate share of liquidation expenses in the liquidation of Alpine Wineries Pvt Ltd.
NCLT Admits Insolvency Plea Against Aman Hospitality Over ₹119 Crore Default
Case Title: Bank of India v. Aman Hospitality Private Limited
Citation: 2026 LLBiz NCLT(DEL) 51
Case Number: CP (IB) – 276(ND)/2025
The National Company Law Tribunal (NCLT) at Delhi has admitted Bank of India's insolvency plea against Delhi- based Aman Hospitality Private Limited over a default of about Rs 119 crore, excluding its equity, following a plea by Bank of India. A coram comprising President Justice Ramalingam Sudhakar and Technical Member Ravindra Chaturvedi passed the order on January 12, 2026. The dispute arises from loans sanctioned for Aman's five-star hotel project in Shahdara, Delhi. Between 2010 and 2011, a banking consortium extended facilities aggregating over Rs 160 crore. Bank of India was one of the lenders.
NCLT Mumbai Rejects GNIDA Plea To Recall 2017 Shirdi Industries Resolution Plan
Case Title: Greater Noida Industrial Development Authority vs Devendra Padamchand Jain
Citation: 2026 LLBiz NCLT (MUM) 48
Case Number: IA 3803 of 2024 In CP IB 839 of 2017
The National Company Law Tribunal (NCLT) at Mumbai has dismissed an application filed by the Greater Noida Industrial Development Authority (GNIDA) seeking recall of a 2017 order approving Rakesh Agarwal's resolution plan for Shirdi Industries Ltd. It held that GNIDA was informed of the insolvency process and failed to file its claim despite specific notice. A coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar held that Noida authority could not allege violation of principles of natural justice after it chose not to participate in the insolvency process. It ruled that the approval of the resolution plan was neither ex parte nor illegal.
NCLT Admits 'Sip On' Maker Manpasand Beverages To Insolvency Over ₹25 Crore Dues
Case Title: Tetra-Pak India Private Limited v. Manpasand Beverages Limited
Case Number: CP(IB) 812 of 2019
Citation: 2026 LLBiz NCLT (AHM) 56
The National Company Law Tribunal (NCLT) at Ahmedabad has admitted Manpasand Beverages Limited, the maker of the popular mango drink Sip On, into corporate insolvency proceedings on a plea by iits packaging partner Tetra Pak India Private Limited. The plea was admitted over unpaid dues of more than Rs 25 crore for the supply of packaging material, machinery and related services provided by Tetra Pak to Manpasand under multiple agreements.
Participating Interest In Oil Block Qualifies as 'Property' Under IBC: NCLT Mumbai
Case Title: Pan India Consultants Pvt Ltd vs Amit Chandrakant Shah & Anr.
Case Citation: 2026 LLBiz NCLT (MUM) 47
Case Number: IA 4589 of 2025 In CP IB 973 of 2020
The National Company Law Tribunal (NCLT) at Mumbai has ruled that rights under Production Sharing Contracts are “property” under the Insolvency and Bankruptcy Code. As a result, a company's participating interest in an onshore oil block must be treated as an asset during insolvency and cannot be excluded from resolution. A coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar dismissed an application filed by Pan India Consultants Pvt Ltd seeking exclusion of the Participating Interest (PI) held by Frost International Ltd in an onshore oil block in the Cambay Basin from the insolvency process.
Case Title: Krithika Subramanian v. Indian Bank
Case Number: CP(IB)/257(CHE)/2025
The National Company Law Tribunal (NCLT) at Chennai has recently observed that merely filing an insolvency petition after the initiation of proceedings under the SARFAESI Act does not, by itself, indicate an attempt to delay or obstruct recovery proceedings. A coram of Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramanian was hearing a petition filed by a personal guarantor seeking initiation of personal insolvency resolution proceedings under Section 94 of the Insolvency and Bankruptcy Code, 2016.
Full Payment Of Admitted Claim In Guarantor's CIRP Bars Creditor's Recovery From Principal Borrower
Case Title: Omkara Asset Reconstruction Private Limited v. Amit Pareek
Case Number: IA(IBC)/137/GB/2024 IA(IBC)(Plan)/1/GB/2024 and IA(IBC)/50/GB/2025 in CP(IB)/9/GB/2019
Citation: 2026 LLBiz NCLT (GUA) 59
The NCLT Guwahati has recently held that full settlement of an admitted claim under a resolution plan in the corporate guarantor's CIRP discharges the debt, extinguishing the creditor's rights against both the borrower and the guarantor. A coram of Judicial Member Rammurti Kushawaha and Technical Member Yogendra Kumar Singh was dealing with applications arising out of the Corporate Insolvency Resolution Process of National Plywood Industries Limited.
Case Title: Santanu T Ray vs Sunil Kumar Trivedi & Ors.
Case Citation: 2026 LLBiz NCLT (MUM) 58
Case Number: IA 4619/2023
The National Company Law Tribunal (NCLT) at Mumbai has suggested that the Insolvency and Bankruptcy Board of India issue an advisory to insolvency professionals and financial creditors on reducing their dependence on information supplied by suspended management and on actively using third-party sources to reconstruct company records. A coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar made the suggestion while dealing with an application filed by the resolution professional of Neo Corp International Ltd, who alleged fraudulent transactions during the period before the company entered insolvency.
Mere Pendency Of Appeal Does Not Stall Bankruptcy Proceedings: NCLT Kochi
Case Title: Tata Capital Limited v. Bobby Abraham
Case Number: IA(IBC) /488 /KOB/2025 in CP (IBC)/ 42//KOB/2024 & IA(IBC) /490 / KOB/2025 in CP(IBC)/ 44/ KOB/ 2024 & IA(IBC)/ 491/KOB/2025 in CP(IBC)/ 51/KOB/2024 & IA(IBC)/ 489/ KOB/2025 in CP(IBC)/ 52/KOB/ 2024 & CP(IBC)/ 492/KOB/ 2025 in CP(IBC)/ 53/ KOB/2024
Citation: 2026 LLBiz NCLT (KOC) 60
The National Company Law Tribunal (NCLT), Kochi Bench, on 14 January held that the mere pendency of an appeal does not operate as a stay on proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC), in the absence of a specific interim order from the appellate forum. A Bench presided over by Judicial Member Vinay Goel was dealing with a batch of applications filed by Tata Capital Limited seeking initiation of bankruptcy proceedings against five personal guarantors of Simtel Trading Corporation Private Limited.
NCLT Mumbai Sets Aside Reclassification of PNB from Secured To Unsecured Creditor In Arshiya CIRP
Case Title: Punjab National Bank vs Pankaj Mahajan
Case Citation: 2026 LLBiz NCLT (MUM) 64
Case Number: IA 2913 of 2025 IN CP (IB)/ 3143 (MB) 2019
The National Company Law Tribunal (NCLT) at Mumbai has recently set aside the resolution professional's (RP) unilateral reclassification of Punjab National Bank (PNB) from a secured to an unsecured creditor in the corporate insolvency resolution process of Arshiya Ltd. A bench of Technical Member Prabhat Kumar and Judicial Member Sushil Mahadeorao Kochey held that once PNB's claim had been admitted, the resolution professional had no authority to alter its classification. It held that any such change could only be made pursuant to directions of the adjudicating authority
Case Title: Consortium of Ashdan Properties Pvt Ltd & Ors
Case Citation: 2026 LLBiz NCLT (MUM) 55
Case Number: I.A. NO. 3032 OF 2025 IN C.P. NO. (IB) 1241 (MB) OF 2022
The National Company Law Tribunal (NCLT) at Mumbai has held that Prospective Resolution Applicants (PRAs) are required to exercise due care and diligence while submitting resolution plans. It said the applicants cannot later fault the insolvency process merely because they discovered additional information from the public domain. A coram comprising Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar dismissed an application filed by the consortium of Ashdan Properties Pvt. Ltd., a PRA in the corporate insolvency resolution process (CIRP) of Hotel Horizon Private Ltd.
Party Taking Over Contract Cannot Deny Liability By Claiming No Privity: NCLT Mumbai
Case Title: Baij Nath Ram Nath (India) Pvt Ltd vs Trivenimudrai Project Ltd
Case Citation: 2026 LLBiz NCLT (MUM) 54
Case Number: CP (IB) No. 265/MB/2025
The National Company Law Tribunal (NCLT) at Mumbai has held that where a party steps into the shoes of the original contracting entity and expressly assumes contractual obligations, it cannot subsequently evade liability by pleading absence of privity of contract. It said that a party that has solemnly entered into a written arrangement acknowledging specific obligations cannot be permitted to approbate and reprobate by later denying those very obligations.
Negative Cash Balances, Salary Mismatches Alone Don't Prove Fraud: NCLT Ahmedabad
CITATION : 2026 LLBiz NCLT (AHM) 65
Case Number : I.A. No. 828/NCLT(AHM)/2020 in CP(IB) No. 17/7(AHM)2019
Case Title : Bhavi Shreyans Shah (Liquidator) v. Champat Sanghvi and Ors.
The National Company Law Tribunal (NCLT) at Ahmedabad has held that accounting lapses such as a small negative cash balance, salary mismatches, and routing of funds through non-consortium banks do not, by themselves, amount to fraudulent or wrongful trading under the Insolvency and Bankruptcy Code. A coram of Judicial Member Shammi Khan and Technical Member Sanjeev Kumar Sharma said that every irregularity in accounts cannot be treated as fraud.
NCLT Mumbai Approves Demerger Of Vedanta's Merchant Power Business Into Talwandi Sabo Power
Case Title: Vedanta Ltd, Vedanta Aluminum Metal Ltd, Talwandi Sabo Power Ltd, Malco Energy Ltd, Vedanta Base Metals Ltd, Vedanta Iron and Steel Ltd
Citation: 2026 LLBiz NCLT (BOM) 34
Case Number: C.P.(CAA)/254/(MB)2025, C.A.(CAA)/220(MB)2024
The Mumbai bench of the National Company Law Tribunal (NCLT) on Friday approved a restructuring move within the Vedanta group, clearing the demerger of the merchant power business of Vedanta Ltd and its transfer to Talwandi Sabo Power Ltd. The order was passed on a second-motion petition filed by Talwandi Sabo Power Ltd. The coram, comprising Judicial Member Mohan Prasad Tiwari and Technical Member Charanjeet Singh Gulati, noted that all statutory requirements had been met and that the company had placed on record approvals from both secured and unsecured creditors.
NCLT Orders Cadila Healthcare To Restore Shares Fraudulently Dematerialised From Two Senior Citizens
CITATION : 2026 LLBiz NCLT (AHM) 39
Case Number : Comp. Appeal No. 298 of 2019
Case Title : Satya Saxena v. Cadila Healthcare Ltd & Ors.
The National Company Law Tribunal (NCLT) at Ahmedabad has directed Cadila Healthcare Limited, now known as Zydus Lifesciences, to restore the shareholdings of two senior citizens after finding that their shares were fraudulently dematerialised without their consent. The tribunal also ordered the company to pay Rs 2 lakh to each of the two shareholders as costs. The order was passed by a coram of Judicial Member Shammi Khan and Technical Member Sanjeev Sharma on pleas filed by Satya Saxena and Raj Kishan Saxena under Section 59 of the Companies Act, 2013.
NCLT Mumbai Sanctions Merger Of Bayer Zydus Into Bayer Pharmaceuticals
Case Title: Bayer Zydus Pharma Pvt Ltd and Bayer Pharmaceuticals Pvt Ltd
Case Citation: 2026 LLBiz NCLT (MUM) 42
Case Number: C.P. (CAA) /44 (MB) 2025 IN C.A. (CAA) /132 (MB) 2024
The National Company Law Tribunal (NCLT) at Mumbai has approved the merger of Bayer Zydus Pharma Pvt Ltd into Bayer Pharmaceuticals Pvt Ltd, as part of a group-level corporate restructuring exercise. A coram of Judicial Member Lakshmi Gurung and Technical Member Hariharan Neelakanta Iyer in an order on January 9, observed that the companies complied with the applicable laws and the scheme was not prejudicial to the interest of its members or public interest.
Case Title: Dattatray Maruti Khune vs Union of India
Case Citation: 2026 LLBiz NCLT (MUM) 50
Case Number: IA 1179 of 2020 IN CP / 2996/ (MB)/ 2019
The National Company Law Tribunal at Mumbai has clarified that a statutory auditor cannot avoid liability for fraudulent filings by claiming misuse of his digital signature certificate (DSC) by his own employee. It held that under settled principles of agency, a principal is bound by the acts of his agent carried out within the scope of implied authority. A coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar made the observation while dismissing an application by Dattatray Maruti Khune, former auditor of Netwealth Agrotech India Ltd, seeking dismissal of proceedings initiated against him under Section 140(5) of the Companies Act.
Financial Creditor Cannot Avoid Liquidation Costs After Settling Dues Through OTS: NCLT Bengaluru
Case Title: Ravindranath Narayana Rao v. Jammu & Kashmir Bank Ltd
Case Number: I.A. No. 397 of 2025 in C.P. (IB) No. 286/BB/2019
Citation: 2026 LLBiz NCLT (BEN) 49
The National Company Law Tribunal (NCLT) at Bengaluru has held that a financial creditor that participated in the liquidation process and secured its dues through a one-time settlement cannot later avoid paying its share of liquidation costs for the ime it had taken part in it. A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada directed Jammu & Kashmir Bank Ltd to bear its proportionate share of liquidation expenses in the liquidation of Alpine Wineries Pvt Ltd.
NCLT Chandigarh Clears Merger of 16 DLF Subsidiaries With Parent Company
Case Title: Aaralyn Builders & Developers Private Limited with Ors.
Citation: 2026 LLBiz NCLT (CHD) 61
Case Number: CP (CAA) No. 18/CHD/Hry/2025
The National Company Law Tribunal (NCLT) at Chandigarh has recently approved a scheme of amalgamation that will allow DLF Limited, a prominnet real estate company, to merge 16 of its wholly owned subsidiaries into the parent company. The order was passed on January 14, 2026, by a coram comprising Judicial Member Khetrabasi Biswal and Technical Member Kaushalendra Kumar Singh. While allowing the second motion petition, the tribunal said it was satisfied that the scheme complied with the law and did not prejudice the interests of shareholders or creditors.
NCLT Chandigarh Clears Merger Of Alternative Fuel Company Into Lumax Group Company
Case Title: Greenfuel Energy Solutions Private Limited and Lumax Resources Private Limited
Citation: 2026 LLBiz NCLT (CHD) 63
Case Number: CP (CAA) 46/Chd/Hry of 2025
The National Company Law Tribunal (NCLT) at Chandigarh has cleared the merger of Greenfuel Energy Solutions Private Limited, a Gurgaon-based manufacturer of alternative fuel system components and batteries, with Lumax Resources Private Limited, a group company of listed auto components maker Lumax Auto Technologies Limited. A bench of Judicial Member Khetrabasi Biswal and Technical Member Kaushalendra Kumar Singh sanctioned the scheme on January 14, 2026. The tribunal said the merger complied with legal requirements and faced no surviving objections.
Defying CIRP Orders 'Not In Public Interest', Amounts To Civil Contempt: NCLT Mumbai
Case Title: Pravin R. Navandar vs Sagar Sharma & Anr.
Case Citation: 2026 LLBiz NCLT (MUM) 57
Case Number: Cont.A. (IBC)/33/MB/2025 IN CP(IB) No. 1241 of 2022
The National Company Law Tribunal (NCLT) at Mumbai has held that deliberate disobedience of its directions during a corporate insolvency resolution process (CIRP), even on the ground that the quantification of a financial creditor's claim is pending in appeal, is against public interest and amounts to civil contempt. Allowing a contempt application filed by the resolution professional (RP) of Hotel Horizon Private Limited against its suspended directors, coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar said that their conduct “meets the ingredients of section 2(b) of the Contempt of Courts Act, 1971.”
Case Title: Shailesh Shah & Anr. Vs Sunshine Realtors Pvt Ltd. & Ors
Case Citation: 2026 LLBiz NCLT (MUM) 62
Case Number: CP 59 OF 2015
The National Company Law Tribunal (NCLT) at Mumbai has observed that non-filing of annual returns and financial statements is, by itself, prejudicial to the interests of company members, as it exposes the company to the consequence of being struck off from the register of companies. A coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar made the observation while deciding a petition alleging oppression and mismanagement in the affairs of Sunshine Realtors Private Ltd.