Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
NCLT admits ₹7.28 crore insolvency petition based on NeSL records and loan documents. Tribunal holds commercial viability cannot override established financial debt and default under IBC.
NCLT orders liquidation after zero resolution applicants emerge and assets are valued at nil. Sole creditor consents, triggering shift from CIRP to liquidation under IBC.
NCLT admits insolvency petition against SBCC Infra based on documentary evidence of ₹5.14 crore unpaid railway construction dues. No pre-existing dispute was found, satisfying threshold requirements under IBC.
NCLT admits ₹7.28 crore insolvency plea based on loan records and NeSL evidence; rules commercial viability is not a valid ground to reject CIRP admission.
NCLT orders liquidation after no resolution applicants emerge; company assets are valued at nil, with sole creditor’s approval.
NCLT admits insolvency petition against SBCC Infra based on unpaid railway construction dues exceeding statutory threshold; no pre-existing dispute found despite objections.
The NCLAT has set aside initiation of insolvency proceedings against Polycab India Limited over a dispute involving ₹2.78 crore in alleged operational dues. The decision underscores scrutiny of operational creditor claims under IBC.
NCLT admitted a ₹7.28 crore insolvency petition despite objections based on commercial viability, holding that financial debt and default were proven via loan records and NeSL data.
NCLT ordered liquidation of a corporate debtor after resolution applicants failed to emerge and the company’s assets were valued at nil, with the sole financial creditor approving the move.
NCLT admitted an insolvency application of ₹5.14 crore against SBCC Infra, holding that railway construction dues were substantiated by documentary evidence and no pre-existing dispute was established.
The NCLT has ordered liquidation of a corporate debtor with no resolution applicants, nil asset valuation, and approval from the sole creditor. The decision marks the end of the CIRP process.
The National Company Law Tribunal admitted an insolvency application against SBCC Infra, finding no pre-existing dispute over unpaid railway construction dues exceeding the statutory threshold. Documentary evidence confirmed the debt's validity.