Vaibhav Mercantile NCLT Transfer Application Dismissed

NCLT New Delhi dismissed Vaibhav Mercantile's application to transfer insolvency petition from Mumbai to Chennai Bench.
Tribunal upheld mandatory jurisdiction under IBC Section 60(1) based on corporate debtor's registered office location.
Applicant argued business operations shifted to Tamil Nadu but registered office remains in Mumbai.
Court cited NCLAT precedents (63 Moons, Excel Metal) confirming jurisdiction follows registered office only.