![Delay in Delivering Reserved Orders Violates IBC’s Mandate for Speedy Resolution: Bombay HC Directs NCLT to Dispose JM Financial’s ₹167 Cr Insolvency Plea [Read Order]](https://images.taxscan.in/h-upload/2026/05/09/2136101-delay-in-delivering-reserved-ordersjpg.webp "Delay in Delivering Reserved Orders Violates IBC’s Mandate for Speedy Resolution: Bombay HC Directs NCLT to Dispose JM Financial’s ₹167 Cr Insolvency Plea [Read Order]")
Delay in Delivering Reserved Orders Violates IBC’s Mandate for Speedy Resolution: Bombay HC Directs NCLT to Dispose JM Financial’s ₹167 Cr Insolvency Plea [Read Order]
In a recent ruling, the Bombay High Court has pulled up the National Company Law Tribunal (NCLT), Mumbai, for prolonged inaction on a seven‑year‑old...
![Resolution Applicant cannot Alter Financial Proposal Through Last-Minute Addendum After Challenge Process: NCLAT [Read Order]](https://images.taxscan.in/h-upload/2026/05/08/2135977-resolution-applicant-cannot-alter-financial-proposal-throughjpg.webp "Resolution Applicant cannot Alter Financial Proposal Through Last-Minute Addendum After Challenge Process: NCLAT [Read Order]")
![IBBI Suspends Insolvency Professional for 3 Years Over Undisclosed Conflict in RERA‑Linked Pool and Build Scheme Resolution [Read Notification]](https://images.taxscan.in/h-upload/2026/05/08/2135982-ibbi-suspends-insolvency-professional-for-3-years-over-undisclosed-conflictjpg.webp "IBBI Suspends Insolvency Professional for 3 Years Over Undisclosed Conflict in RERA‑Linked Pool and Build Scheme Resolution [Read Notification]")
![CoC Can Prefer Feasible Resolution Plan Over Higher NPV Offer: NCLAT Rejects Vedanta’s ₹17,926 Cr Resolution Plan [Read Order]](https://images.taxscan.in/h-upload/2026/05/08/2135957-site-img8-4jpg.webp "CoC Can Prefer Feasible Resolution Plan Over Higher NPV Offer: NCLAT Rejects Vedanta’s ₹17,926 Cr Resolution Plan [Read Order]")
![Director Diverts Rental Income via Forged Lease Agreements: NCLT Mumbai Orders Refund of Diverted Funds with 12% Interest [Read Order]](https://images.taxscan.in/h-upload/2026/05/08/2135955-director-diverts-rental-income-via-forged-lease-agreementsjpg.webp "Director Diverts Rental Income via Forged Lease Agreements: NCLT Mumbai Orders Refund of Diverted Funds with 12% Interest [Read Order]")
Supply Dues Between Consortium Partners Actionable u/s 9 IBC: NCLAT Upholds CIRP Over ₹3.19 Cr Supply Dues [Read Order]
The Principal Bench of the National Company Law Appellate Tribunal (NCLAT) New Delhi has upheld the initiation of Corporate Insolvency Resolution Process (CIRP) over unpaid supply dues of ₹3.19...
![Supply Dues Between Consortium Partners Actionable u/s 9 IBC: NCLAT Upholds CIRP Over ₹3.19 Cr Supply Dues [Read Order]](https://images.taxscan.in/h-upload/2026/05/08/2135953-supply-dues-between-consortium-partners-actionablejpg.webp "Supply Dues Between Consortium Partners Actionable u/s 9 IBC: NCLAT Upholds CIRP Over ₹3.19 Cr Supply Dues [Read Order]")
Arbitration Clause No Bar Once Debt and Default Established: NCLT Admits ₹2.9 Cr Sec. 7 Insolvency Plea [Read Order]
The National Company Law Tribunal (NCLT) Mumbai Bench has held that the presence of an arbitration clause does not preclude insolvency proceedings once debt and default are established. Also found...
![Arbitration Clause No Bar Once Debt and Default Established: NCLT Admits ₹2.9 Cr Sec. 7 Insolvency Plea [Read Order]](https://images.taxscan.in/h-upload/2026/05/07/2135844-arbitration-clause-no-bar-once-debt-and-default-establishedjpg.webp "Arbitration Clause No Bar Once Debt and Default Established: NCLT Admits ₹2.9 Cr Sec. 7 Insolvency Plea [Read Order]")
MSME Protections Do Not Override IBC Once Default Is Established: NCLT Holds ₹24.26 Cr NPA Default Proven [Read Order]
The National Company LawTribunal (NCLT), Mumbai Bench, has held that statutory protections available to Micro, Small, and Medium Enterprises (MSMEs) cannot override the Insolvency and Bankruptcy...
![MSME Protections Do Not Override IBC Once Default Is Established: NCLT Holds ₹24.26 Cr NPA Default Proven [Read Order]](https://images.taxscan.in/h-upload/2026/05/07/2135837-msme-protections-do-not-override-ibc-once-default-is-establishedjpg.webp "MSME Protections Do Not Override IBC Once Default Is Established: NCLT Holds ₹24.26 Cr NPA Default Proven [Read Order]")
NCLAT Upholds NCLT Rejection of ₹1.15 Cr CIRP Plan Over Low Value & Avoidance Transaction Breaches [Read Order]
The National Company Law Appellate Tribunal (NCLAT), New Delhi, has upheld the NCLT’s rejection of a ₹1.15‑crore resolution plan, citing severe breaches in the handling of avoidance transactions...
![NCLAT Upholds NCLT Rejection of ₹1.15 Cr CIRP Plan Over Low Value & Avoidance Transaction Breaches [Read Order]](https://images.taxscan.in/h-upload/2026/05/05/2135536-nclat-upholds-nclt-rejection-of-115-cr-cirp-plan-over-low-value-avoidance-transaction-breachesjpg.webp "NCLAT Upholds NCLT Rejection of ₹1.15 Cr CIRP Plan Over Low Value & Avoidance Transaction Breaches [Read Order]")
NCLT Dismisses Liquidator’s Plea for Affidavit and Disciplinary Action Over Alleged SCC Confidentiality Breach, Rules Email Disclosure Was Accidental [Read Order]
In a recent order, the National Company Law Tribunal (NCLT), Indore Bench, dismissed an application filed by the liquidator, where he alleged a breach of confidentiality during the liquidation. The...
![NCLT Dismisses Liquidator’s Plea for Affidavit and Disciplinary Action Over Alleged SCC Confidentiality Breach, Rules Email Disclosure Was Accidental [Read Order]](https://images.taxscan.in/h-upload/2026/05/05/2135523-nclt-dismisses-liquidators-pleajpg.webp "NCLT Dismisses Liquidator’s Plea for Affidavit and Disciplinary Action Over Alleged SCC Confidentiality Breach, Rules Email Disclosure Was Accidental [Read Order]")
Technical Objections Cannot Defeat CIRP Once Debt and Default are Established: NCLT Admits ₹39.19 Cr Insolvency Plea Against Millenium Starch [Read Order]
The National Company Law Tribunal has admitted insolvency proceedings against Millenium Starch India Private Limited on a petition filed by Axis Bank Limited holding that technical objections...
![Technical Objections Cannot Defeat CIRP Once Debt and Default are Established: NCLT Admits ₹39.19 Cr Insolvency Plea Against Millenium Starch [Read Order]](https://images.taxscan.in/h-upload/2026/05/04/2135434-technical-objections-cannot-defeat-cirp-once-debt-and-default-are-establishedjpg.webp "Technical Objections Cannot Defeat CIRP Once Debt and Default are Established: NCLT Admits ₹39.19 Cr Insolvency Plea Against Millenium Starch [Read Order]")
Stakeholder Objections Cannot Obstruct Insolvency Resolution Once Resolution Plan Secures Requisite CoC Approval: NCLT [Read Order]
The National Company LawTribunal [NCLT] Mumbai Bench has held that stakeholder objections including those raised by homebuyers, promoters and third-party claimants cannot frustrate the insolvency...
![Stakeholder Objections Cannot Obstruct Insolvency Resolution Once Resolution Plan Secures Requisite CoC Approval: NCLT [Read Order]](https://images.taxscan.in/h-upload/2026/05/04/2135431-stakeholder-objections-cannot-obstruct-insolvency-resolution-once-resolution-plan-secures-requisite-coc-approval-nclt-site-imagejpg.webp "Stakeholder Objections Cannot Obstruct Insolvency Resolution Once Resolution Plan Secures Requisite CoC Approval: NCLT [Read Order]")