Tag
Insolvency Proceedings
46 articles
The Indian insolvency landscape remains active, with numerous hearings and appeals ongoing across various cases. Proceedings related to Brys Hotels, Mohan Steels, Brownish Realty, Insight Collaborative Logistics, Neelkanth Surgical Industries, and Three C Projects have been adjourned, reflecting the complex and often protracted nature of these resolutions. While some cases, like Canara Bank's personal insolvency process against Rakhi Pandey, have concluded successfully through a one-time settlement, others, such as those involving Dunlop Polymers and Arshiya Limited, face significant challenges, including auditor disclaimers and operational disruptions. These developments highlight the ongoing efforts to resolve distressed assets within the framework of the Insolvency and Bankruptcy Code, though the timeline and ultimate outcomes remain uncertain for many businesses.
Uttar Pradesh SIDB vs Brys Hotels NCLAT Hearing
NCLAT schedules next hearing for May 28, 2026 in insolvency appeal between Uttar Pradesh State Industrial Development Authority and Brys Hotels Pvt Ltd.
Case involves Company Appeal (AT) (Insolvency)
NCLT Adjourns Frost International vs Mohan Steels Hearing
NCLT Allahabad Bench adjourned hearing for Frost International Ltd vs Mohan Steels Ltd insolvency case to July 15, 2026.
Case involves corporate insolvency petition under Section 7 of IBC filed agains
NCLT Dismisses L&T Finance Early Hearing Applications
NCLT Allahabad dismissed applications seeking an early hearing for other pending interlocutory applications.
The applications pertained to the corporate insolvency resolution process of Brownish Realt
Insight Collaborative Logistics Liquidation Hearing Adjourned
NCLT Allahabad adjourns hearing for Insight Collaborative Logistics liquidation case to June 2, 2026.
Matter involves corporate insolvency resolution process under Section 9 of IBC.
Liquidator's couns
NCLT Adjourns Neelkanth Surgical Insolvency Hearing
NCLT Allahabad Bench adjourns hearing in Neelkanth Surgical Industries insolvency case to July 6, 2026.
Case involves corporate insolvency resolution process initiated under Section 7 of IBC.
No parti
NCLT Closes Canara Bank Personal Guarantor Insolvency
NCLT Allahabad allows application to close Personal Insolvency Resolution Process against Rakhi Pandey.
Process concluded after a One Time Settlement was fully paid to financial creditor Canara Bank.
NCLT Accepts Unitech Machines Delayed Progress Report
NCLT disposes application to accept Monitoring Committee's 3rd Progress Report for Unitech Machines Ltd.
Applicant cited technical issues as reason for delayed filing of the insolvency progress report
Three C Projects NCLT Hearing Adjourned to May 29
NCLT New Delhi defers hearing for Three C Projects Pvt Ltd insolvency case to 29.05.2026.
Adjournment follows compliance with NCLAT orders in Company Appeal (AT) Insolvency No. 541 and 542 of 2026.
Ma
Par Formulations Appeals NCLAT Against Premises Termination
Par Formulations files urgent NCLAT appeal against Print House termination notice for licensed premises.
Appellant claims approved Resolution Plan did not provide them an opportunity for a hearing.
Re
NCLAT Schedules Technico Strips vs Emkay Authomobile Hearing
NCLAT Principal Bench schedules next hearing for Technico Strips insolvency appeal against Emkay Authomobile for June 25, 2021.
Appellant directed to provide appeal paper book to respondent within thr
Ashok Tiwari vs DBS Bank India Adjourned for Debt Assignment
NCLAT adjourns Ashok Tiwari's insolvency appeal to allow DBS Bank India substitution application.
IDBI Bank and Bank of Baroda assigned their debt to DBS Bank India requiring party substitution.
Tribu
Arshiya Ltd RP Seeks CIRP Timeline Exclusion at NCLAT
Resolution Professional of Arshiya Ltd files application to exclude appeal period from CIRP computation.
Adjudicating Authority previously extended CIRP timeline until June 27, 2026 via order dated Ap
EPFO vs Future Supply Chain NCLAT Hearing Adjourned
NCLAT adjourned hearing to July 31, 2026 in EPFO's appeal against Future Supply Chain Solutions Ltd.
EPFO Regional Office Kandivali-East is appellant while IRP Rajan Rawat and SRA are respondents.
Res
ITI Finance Appeals Echo Motors IRP Order
NCLAT issues notice in ITI Finance Ltd.'s appeal against Echo Motors' Interim Resolution Professional.
Tribunal directs Resolution Professional to file a reply within two weeks.
Next hearing scheduled
ITI Finance Appeals Echo Motors IRP Order
ITI Finance Ltd. files an appeal against an order concerning the insolvency resolution of Echo Motors and Automobiles Pvt. Ltd.
The appeal is listed before the National Company Law Appellate Tribunal
NCLT Adjourns Modern Syntex Insolvency Hearing
NCLT Jaipur Bench adjourns Section 7 IBC hearing for Modern Syntex (India) Limited to July 15, 2026.
The petitioner is The Administrator of Specified Undertaking of Unit Trust of India & Anr.
The orde
Dunlop Polymers Resolution Plan Approved by NCLT
NCLT Bengaluru approves the resolution plan for Dunlop Polymers Pvt. Ltd. under IBC.
The monitoring committee is directed to report on the plan's implementation on July 20, 2026.
The order was passed
Arshiya FY25 Results Under CIRP: Auditor Disclaimer
Arshiya Limited's Resolution Professional approved audited standalone FY25 results on April 28, 2026, during ongoing CIRP.
Auditors issued a disclaimer of opinion due to 12 material uncertainties, inc
Arshiya Limited Q1 FY25 Net Loss ₹99.76 Crore
Arshiya Limited reports unaudited standalone net loss of ₹99.76 crore for Q1 FY25 under CIRP, approved by Resolution Professional on April 28, 2026.
Auditors issue disclaimer of conclusion due to mult
NCLAT Grants Time in Mahavir Roads Insolvency Appeal
NCLAT grants two weeks to Resolution Professional Kairav Trivedi to file an additional affidavit in an insolvency appeal.
The appeal involves Jitendra Kikavat as a personal guarantor for corporate deb
NCLT Ahmedabad Directs RP Report Service in Bohra Fashion Case
NCLT Ahmedabad hears procedural application in Bohra Fashion Limited insolvency matter under Section 94 IBC.
Tribunal directs Resolution Professional to serve report copy on all respondents including
IL&FS NCLAT Judgment Clarification Application Filed
Resolution Professional files applications seeking clarification of NCLAT's 07.01.2026 judgment in insolvency appeals.
NCLAT directs Lucknow Development Authority to file a reply to the clarification
NCLAT Lists Kindle Infraheights Insolvency Appeals for Hearing
NCLAT lists three interconnected insolvency appeals for a hearing on July 15, 2026.
Appeals involve suspended director Puran and others against Kindle Infraheights Pvt. Ltd. and its Resolution Profess
Bird Delhi Aviation CIRP Closed After Settlement
NCLAT sets aside NCLT order admitting Rs 54 lakh insolvency petition against Bird Delhi General Aviation.
Appellant deposited Rs 1.09 crore showing bonafide; parties reached settlement agreement on 09
NCLAT Lists Adhunik Metaliks Insolvency Appeals
NCLAT lists two interconnected insolvency appeals for hearing on May 29, 2026.
Appeals involve Adhunik Metaliks Ltd. and its employees' union as primary parties.
Multiple legal representatives from bo
Map Refoils India Ltd Contempt Petition for Liquidation Non-Compliance
NCLT Ahmedabad hears contempt petition against Map Refoils India Ltd's suspended management for non-compliance with liquidation orders.
Tribunal issues bailable warrant against respondent and orders p
SIDBI vs Rakshit Patel NCLT Section 106 Report Delay
NCLT Ahmedabad condones 104-day delay in filing Section 106 report for Rakshit Patel's insolvency resolution.
Resolution Professional directed to revise non-conforming report within seven days for com
SIDBI Section 106 IBC Report Delay Condoned
NCLT Ahmedabad condones 104-day delay by Resolution Professional in submitting mandatory Section 106 IBC report.
Tribunal directs Resolution Professional to revise non-conforming report within seven d
Camerich Papers Liquidation Closure Application Filed
Liquidator applies to NCLT Ahmedabad for closure of Camerich Papers Pvt Ltd's liquidation process.
Application follows successful sale of corporate debtor as a going concern under liquidation regulati
NARCL Files 9th Status Report in Wind World Guarantor Case
NCLT Ahmedabad disposes application to record 9th status report for Personal Insolvency Resolution Process.
Application filed by Resolution Professional under Rule 11 of NCLT Rules 2016.
Status report
Bank of Baroda vs Dharmendra Patel NCLT Asset Tracking Order
NCLT Ahmedabad orders asset tracking for personal guarantor Dharmendra Patel in Bank of Baroda insolvency case.
Tribunal directs Bankruptcy Trustee to obtain and compare IT returns from FY2020-21 to F
NCLT Orders Bankrupt Guarantor Asset Tracking
NCLT admits Bank of Baroda's application concerning personal guarantor Rakesh Ramjibhai Patel.
Tribunal directs Bankruptcy Trustee to obtain and compare the bankrupt's IT returns from FY21 onwards.
Tr
NCLT Declares Mehulkumar Patel Bankrupt for MAP Refoils
NCLT Ahmedabad admits Central Bank of India's petition to declare Mehulkumar Arvindbhai Patel bankrupt for a Rs 57.66 crore debt guarantee.
The personal guarantor's combined repayment plan of Rs 60 cr
NCLT Declares Arvindbhai Patel Bankrupt for ₹57.66 Crore
NCLT Ahmedabad declares Mr. Arvindbhai Kacharabhai Patel bankrupt under IBC 2016 for a total debt of ₹57.66 crore as personal guarantor to MAP Refoils India Limited.
The order appoints a bankruptcy tr
NCLAT Modifies Interim Order on Shree Tel Fab Insolvency
NCLAT modifies its interim order to allow steps pursuant to Form-G publication for Shree Tel Fab Industries but prohibits putting any resolution plan to vote.
The appellate tribunal grants two weeks f
Supreme Housing Director NCLAT Appeal Listing Order
NCLAT lists appeal by suspended Supreme Housing director Bhawanishankar Sharma for hearing on 21.05.2026.
Appellant's counsel granted permission to cure procedural defects in the appeal before the nex
NCLAT Adjourns J.C. Flowers ARC Insolvency Appeal
NCLAT adjourns hearing for submissions from respondents in J.C. Flowers ARC's insolvency appeal.
Tribunal directs Respondent 2 to file affidavit on PUFE applications and assignment deed within one wee
Castall Technologies Liquidation Closure After Asset Sales
NCLT Hyderabad orders closure of Castall Technologies' liquidation after successful sale of assets as a going concern.
Liquidator realized Rs 17.07 crore from asset sales, distributing Rs 14.94 crore
State Bank of India Repayment Plan Approved by NCLT
NCLT Hyderabad approves Resolution Professional's application to record a repayment plan for M/s. Maruthi Tubes Private Limited.
The application was filed under Section 95 of the Insolvency and Bankru
Amara Raja Blaze Technologies Liquidation Petition Hearing
NCLT Hyderabad hears liquidation petition for Amara Raja Blaze Technologies Pvt Ltd under IBC Section 59.
Liquidator Mr. Racharla Rama Krishna Gupta represents the company against RoC Telangana respon
Mata Energy Ltd Liquidation Period Extended Six Months
NCLT Hyderabad extends Mata Energy Ltd's liquidation period by six months until 18 November 2026.
Liquidator Kasi Srinivas filed application IA (IBC) 768/2026 seeking extension from 19 May 2026.
State
UCO Bank vs Ramrao Paturu NCLT Hearing Adjourned
UCO Bank filed an insolvency petition under IBC Section 95 against ICOMM Tele Ltd and Mr. Ramrao Paturu.
The National Company Law Tribunal Hyderabad Bench heard the case on 14 May 2026 and granted adj
NCLT Confines Sahiti Infratec CIRP to Sarvani Elite
NCLT Hyderabad rules CIRP against Sahiti Infratec is confined solely to Sarvani Elite project, excluding Sishta Abode.
Tribunal clarifies Section 14 moratorium does not obstruct Sishta Abode-related c
NCLT Hyderabad Adjourns Aster Pvt Ltd Insolvency Hearings
NCLT Hyderabad adjourns multiple applications in the Aster Pvt Ltd insolvency case to June 23, 2026.
Ex-parte order against Respondent No.3 set aside, with directions to file counter within three week
Sharon Bio-Medicine Insolvency Appeal Adjournment Hearing
NCLAT hears an insolvency appeal filed by Savita Satish Gowda against Sharon Bio-Medicine Ltd.'s resolution professional.
Respondent's counsel cites a Supreme Court judgment to argue for dismissal due
Ajay Spinners NCLT Winding-Up Petition Adjourned Sine Die
NCLT Jaipur Bench adjourns Ajay Spinners Ltd's winding-up petition under Companies Act 1956 sine die.
Adjournment granted due to pending review petition before Hon'ble High Court with no specific hear