IBC
LiveLawBiz: Business Law Daily Round-Up: December 26, 2025
Tax GST Registration Can Be Restored If Returns And Dues Are Cleared: Gauhati High CourtRevenue Cannot Reclassify Input Services Or Deny CENVAT Credit While Sanctioning Refund: CESTAT ChandigarhCentre Imposes Anti-Dumping Duty On 2-Ethyl Hexanol Imports From EU, US, Korea, Others Till June 2026Service Tax | Sale Of Popcorn & Beverages At Cinema Counters Is Not Service, No Service Tax...
Plea To Shift Hindustan National Gas's Registered Office Can Proceed Despite Pending Appeal: NCLAT
The National Company Law Appellate Tribunal (NCLAT) at Delhi recently clarified that an application filed by insolvent Hindustan National Gas & Industries Limited for changing its registered office from Kolkata to Mumbai can be considered by the Regional Director in accordance with law, despite an appeal challenging approval of the resolution plan being pending before it.A coram...
Oppression And Mismanagement Plea Not Maintainable Without Company Membership On Filing Date: NCLAT
The National Company Law Appellate Tribunal (NCLAT) at Chennai recently reaffirmed that a petition alleging oppression and mismanagement under Sections 241 and 244 of the Companies Act, 2013, cannot be entertained unless the person filing it establishes that he was a “member” of the company on the date the petition was filed. While setting aside an order of the National Company Law Tribunal (NCLT) at Bengaluru, the Appellate Tribunal said that the tribunal failed to examine this basic...
LiveLawBiz: Business Law Daily Round-Up: December 25, 2025
TAX Tax Paid During Probe Must Be Refunded Once No Liability Found: Chhattisgarh High Court Allows Service Tax RefundCustoms | ELISA Kits For Food Testing Qualify As 'Diagnostic' For Exemption: Delhi High Court Grants Interim Relief To ImporterFilm Broadcasting Licence Fees Not Royalty Under India–Mauritius DTAA: Mumbai ITATARBITRATIONRERA Relief Does Not Bar Arbitration Protection: Delhi...
Jet Airways Liquidation: NCLT Mumbai Rejects Jalan-Kalrock's Plea To Refund ₹370 Crore As CIRP Costs
The National Company Law Tribunal (NCLT) at Mumbai recently refused to grant any refund to the Jalan-Kalrock consortium in relation to the over Rs 370 crores infused by it during the insolvency proceedings of Jet Airways Ltd. In an order dated December 15, a coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar dismissed the consortium's plea, holding that...
IBC Part Z And Cross-border Insolvency In A Fragmented Global Order
Cross-border insolvency was long imagined as a space governed by cooperation and mutual trust, where courts across jurisdictions would recognise each other's proceedings to preserve value and impose some order on corporate failure. The UNCITRAL Model Law, which underpins India's proposed Insolvency and Bankruptcy Code (IBC) Part Z, rests on this assumption, that recognition and coordination ultimately serve everyone's interests. India's move in this direction, following the Insolvency Law...
Borrower's Debt Acknowledgment Extends Limitation Against Guarantors Too: NCLAT Reaffirms
The National Company Law Appellate Tribunal at Delhi has reiterated that acknowledgment of debt by a principal borrower extends the limitation period for initiating insolvency proceedings against its corporate guarantors.Quoting apex court's ruling in Laxmi Pat Surana vs. Union Bank of India, (2021), the tribunal observed,"There is no quarrel with the proposition that the acknowledgement made...
LiveLawBiz: Business Law Daily Round-Up: December 24, 2025
TAX Condonation Must Be Considered Despite Deemed Service On GST Portal: Rajasthan HC Sets Aside Dismissal Of GST Appeal On LimitationCESTAT Mumbai Holds Amendment Of Bills Of Entry U/S 149 Customs Act Is Legally Recognised Mode Of Modifying AssessmentGSTAT Withdraws Staggered Filing Requirement for GST Second Appeals; Allows Unrestricted E-FilingIncome Tax | Revised 2024 Compounding...
CoC Cannot Modify Distribution Mechanism After Approving Resolution Plan: NCLAT Dismisses Bank of Baroda's Appeal In RCIL CIRP
The National Company Law Appellate Tribunal (NCLAT) at New Delhi has held that once a resolution plan is approved by Committee of Creditors under section 30(4) of the Insolvency and Bankruptcy Code, 2016 (IBC) and the CoC is itself bound by the plan, it cannot subsequently alter or modify the distribution mechanism provided therein. A Bench comprising Justice Ashok Bhushan...
Threat To Cut Electricity To Hotel During Insolvency Violates Moratorium: NCLT Chandigarh
The National Company Law Tribunal (NCLT) at Chandigarh has recently held that electricity is essential to the functioning of a hotel and must continue during insolvency proceedings. The tribunal restrained the Chandigarh Electricity Department from disconnecting power supply to a hotel undergoing the Corporate Insolvency Resolution Process.A bench of Judicial Member Khetrabasi Biswal...
NCLT Kolkata Dismisses UCO Bank's ₹846 Crore Insolvency Plea Against Nicco Uco Alliance
The National Company Law Tribunal (NCLT) at Kolkata has dismissed an insolvency petition filed by UCO Bank against Nicco Uco Alliance Credit Ltd., a listed financial services company over an alleged default of Rs 846 crore. It held that the plea was barred by limitation and could not be entertained. The tribunal found that the bank approached the insolvency forum far too late. It noted a gap...