Regulation, Compliance & Legal › Sub-category
Insolvency / Bankruptcy
37 articles
Insolvency proceedings continue to be active across various sectors in India, reflecting ongoing financial distress among businesses and individuals. Several National Company Law Tribunals (NCLTs) have adjourned hearings for ongoing cases, including those involving Fairfild Resistors, Indian Bank vs. Mancherial Cement, and Softbay Technologies, while others, like Oxygen Lifeline Retail, have concluded liquidation processes. Notably, NCLT Kolkata approved the replacement of a Resolution Professional for Roy Agrovets, and HDFC Bank sought a stay on voting regarding a personal guarantor repayment plan for JRA Infrastructure, highlighting the complexities within the insolvency resolution framework. These developments underscore the continued importance of monitoring IBC proceedings and their impact on creditors, debtors, and the broader financial system.
Eureka Industries EGM Approves Pre-Pack Insolvency Plan
EGM held on May 18, 2026 approved four resolutions including a pre-packaged insolvency resolution plan with 100% shareholder votes in favor.
Shareholders regularized Chaitanya Jayantilal Pandya as Exe
Fairfild Resistors NCLT Hearing Adjourned to August 2026
NCLT Chandigarh adjourns hearing for Fairfild Resistors Pvt. Ltd.'s voluntary insolvency application under Section 59 of IBC.
The matter CP(IB) No. 18/Chd/HP/2026 was not taken up due to paucity of ti
Sujyot Infrastructure NCLT Liquidation Progress Reports
NCLT Ahmedabad accepts 10th liquidation progress report for Sujyot Infrastructure for Q4 FY26.
Tribunal also accepts separate progress report for the quarter ending December 31, 2025.
Both application
NCLT Closes State Bank Bankruptcy Proceedings Against Prashant Mupparapu
NCLT Hyderabad allows application to discharge bankrupt individual Prashant Mupparapu and close bankruptcy proceedings.
Bankruptcy Trustee appointed on 19 November 2025 submits final report approved b
Indian Bank vs Mancherial Cement NCLT Adjournment
NCLT Hyderabad adjourns Indian Bank's Section 7 IBC petition against Mancherial Cement Company to August 2026.
The hearing was held in hybrid mode with counsel present for both the petitioner bank and
Softbay Technologies NCLT Hearing Adjourned
NCLT adjourned hearing for Softbay Technologies' insolvency petition under Section 10 of IBC 2016.
Matter adjourned to 29 June 2026 due to non-appearance of the applicant's representatives.
Case IB-22
NCLT Approves Roy Agrovets Resolution Professional Replacement
NCLT Kolkata allows application to replace Resolution Professional for Roy Agrovets Private Limited.
Committee of Creditors voted 100% to appoint Mr. Sanjit Kumar Nayak as new Resolution Professional.
Oxygen Lifeline Retail Liquidated and Dissolved by NCLT
NCLT Indore orders dissolution of Oxygen Lifeline Retail Pvt Ltd under IBC Section 54 after completion of its liquidation process.
Liquidator realized Rs 28.77 lakh from auction of two vehicles, distr
HDFC Bank Seeks Stay on Personal Guarantor Repayment Plan
HDFC Bank filed an NCLT application to delay voting on a personal guarantor's repayment plan and admit its delayed Rs 28.03 crore claim.
The application was filed under Section 60(5) of the IBC, 2016,
State Bank of India vs Dhananjay Agrawal NCLT Hearing
NCLT Ahmedabad hears State Bank of India's Section 95 IBC application against Dhananjay Sanjay Agrawal.
Respondent's counsel repeatedly sought adjournments despite tribunal's refusal, delaying the Res
Jiya Eco-Products CIRP Completion and Resolution Plan
Jiya Eco-Products submitted Information Memorandum to BSE in compliance with SEBI Regulation 35.
Corporate Insolvency Resolution Process completed with Pradeep Khandagale approved as Successful Resolu
NEDFi vs Nayak Infrastructure NCLT Hearing
NCLT Guwahati hears insolvency petition filed by NEDFi against Nayak Infrastructure and its guarantor.
Tribunal grants one week to respondent guarantor Biswajit Nayak for filing reply to the petition.
Adi Ispat Liquidation Closed After ₹15 Crore Sale
NCLT Kolkata approves closure of Adi Ispat Private Limited's liquidation process and discharges the liquidator.
Corporate Debtor's assets sold for ₹15 crore to ASL Enterprises as a going concern after
Union Bank Insolvency Proceeding Against Personal Guarantor
NCLT Jaipur Bench disposes of RP's application under IBC Section 95 for Sanga Builders' insolvency.
RP reports personal guarantor Alimuddin Kagzi failed to submit any resolution plan for the corporate
NCLT Adjourns UCO Bank vs Lohit Construction Insolvency
NCLT Guwahati Bench adjourns UCO Bank's insolvency petition against Lohit Construction Pvt. Ltd. to June 3, 2026.
Financial creditor and IRP granted two weeks to file rejoinder to objections raised by
NCLT Chennai Adjourns Global Infra Liquidation Applications
NCLT Chennai adjourns multiple liquidation applications for Global Infra to 15 June 2026 pending settlement.
Liquidator reports Respondent R3 has passed away and seeks bailable warrants against abscon
Vijay Spinners Liquidator Permitted to Challenge Injunction
NCLT Chennai permits Vijay Spinners' Liquidator to file a writ petition in Madras High Court against a Sub-Court injunction.
The injunction, dated 17.02.2026, blocks the auction sale of the Corporate
State Bank of India vs Bhatia Coke NCLT Hearing Adjourned
NCLT Chennai adjourned hearing for State Bank of India's insolvency petition against Bhatia Coke & Energy Ltd.
Parties directed to file written submissions including case laws within two weeks.
Next h
NCLT Appoints Sunita as RP in Surya Enterprise Insolvency
NCLT Chandigarh appoints Ms. Sunita as Resolution Professional for Vijay Kumar Modi's personal guarantor insolvency petition.
RP directed to file report under Section 99 of IBC within ten days and ser
UCO Bank vs Kunal Garg NCLT Adjournment
NCLT Chandigarh adjourns UCO Bank's insolvency petition against Kunal Garg to May 20, 2026.
Petition filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016.
Matter to be heard alongside
UCO Bank Insolvency Petition Against Vinod Garg Adjourned
UCO Bank filed an insolvency petition against Vinod Garg under Section 95(1) of IBC, 2016.
The National Company Law Tribunal Chandigarh Bench heard the matter on May 5, 2026.
The tribunal adjourned th
Almighty Infraheights NCLT Hearing Adjourned to June 2026
NCLT Allahabad adjourns insolvency petition CP (IB) No.28/ALD/2024 due to paucity of time.
Case involves Boxcoworld Private Limited as petitioner vs Almighty Infraheights Private Limited as respondent
Blu-Smart Mobility CIRP Cooperation Undertaking Order
NCLT Ahmedabad disposes of application after suspended management of Blu-Smart Mobility files affidavits undertaking full cooperation with the Resolution Professional.
Catalyst Trusteeship Limited is
SICOM Limited Section 94 IBC Settlement Adjournment
NCLT Ahmedabad adjourns Section 94 IBC proceedings between Namrata Mahesh Maheshwari and SICOM Limited.
Parties report ongoing settlement talks with an OTS proposal submitted by the personal guarantor
NCLT Adjourns Naman Broadcastings Insolvency Petition
NCLT adjourns Section 7 insolvency petition against Naman Broadcastings and Telecommunications Pvt. Ltd.
Case IB-645/ND/2022 re-notified for next hearing on 18 May 2026.
Hybrid hearing presided over b
Indian Bank Insolvency Petition Adjourned to June 2026
NCLT New Delhi adjourns Indian Bank's Section 95 IBC petition against Anu Gupta due to paucity of time.
The matter has been rescheduled for the next hearing on 04 June 2026.
The order was passed by a
DBS Bank Files Vyam Technologies Insolvency Petition
DBS Bank Ltd filed an insolvency petition under Section 7 of IBC against Vyam Technologies Ltd.
The NCLT New Delhi Bench issued notice to the CoC, BSNL, and the Resolution Professional via multiple mo
Win Hide Pvt Ltd NCLT Liquocation Order Reserved
NCLT Chennai reserves order on application seeking liquidation of Win Hide Pvt Ltd.
Application filed by Resolution Professional to be appointed as Liquidator.
Minutes of Committee of Creditors meetin
NCLT Chennai Admits Kotak Mahindra Bank Liquidation Report
NCLT Chennai admits the 12th quarterly progress report from the liquidator for Prasad Properties & Investment Pvt Ltd.
The application was filed to record the progress report for the quarter ended Mar
Gala Global Products EGM Approves Insolvency Process Initiation
Gala Global Products shareholders approved initiating a Pre-Packaged or Corporate Insolvency Resolution Process under the IBC, 2016.
The EGM was held via video conference on May 7, 2026, with 47 membe
NCLT Directs Narmada Extrusions RP Document Access
NCLT Indore issues notice on RP's application under IBC Section 19(2) for document access from respondents.
RP Kuldeep Tank seeks corporate debtor data from Pravin Mittal & others for insolvency resol
Brahmaputra TMT Bars NCLT Hearing Adjourned to June 2026
NCLT Guwahati Bench adjourns hearing for M/s Brahmaputra TMT Bars Pvt. Ltd. insolvency petition to 1st June 2026.
The petition was filed under Section 10 of the Insolvency and Bankruptcy Code, 2016 ag
NCLT Approves Power Finance Corporation 3rd Progress Report
NCLT Hyderabad Bench approves and takes on record the 3rd Progress Report in the Power Finance Corporation insolvency resolution process.
The hearing involved the Bankruptcy Trustee and legal counsel
Corporation Bank vs Arjun Ply NCLT Hearing Adjourned
NCLT Chennai adjourned IBC Section 7 insolvency petition IBA/368/2020 filed by Corporation Bank against Arjun Ply and Veneers Pvt Ltd.
The petition hearing was deferred to 07.05.2026 as the case recor
JKS The Banyaan Liquidation 14th Progress Report Filed
NCLT Chennai disposes application to take on record 14th liquidation progress report for JKS The Banyaan Pvt Ltd.
Liquidator Ms. Rajalakshmi presented the report for quarter ended 31.03.2026 during vi
ICICI Bank vs Harish Nekkanti IBC Settlement Hearing
NCLT Chennai hears ICICI Bank's insolvency petition against personal guarantor Harish Nekkanti under Section 95(1) of IBC, 2016.
Respondent reports partial settlement of Rs. 4.50 crores paid, with bal
Saurabh Singla Personal Guarantor CIRP Initiation
NCLT Chandigarh admits petition under IBC Section 94 to initiate CIRP against personal guarantor Saurabh Singla.
Tribunal appoints Sunil Sethi as Resolution Professional to examine the application and