Insolvency And Bankruptcy Code

A Parliamentary panel has suggested establishing dedicated benches or verticals for insolvency cases at the National Company Law Tribunal (NCLT) to expedite disposal of such matters as well as ensure that the tribunal gives equal attention for cases under the companies law. Apart from the principal bench and the New Delhi bench, NCLT has benches in Allahabad, Ahmedabad, Bengaluru, Chandigarh, Chennai, Cuttack, Hyderabad, Indore, Kolkata, Kochi, and Mumbai. The recommendations are part of a report prepared by the Department-Related Parliamentary Standing Committee on Personnel, Public Grievances, Law and Justice. The report on 'Review of Functioning of Tribunal System in the Country' was tabled in Parliament earlier this month. The panel said steadily expanding insolvency jurisdiction of the tribunal should not dilute its equally important responsibilities under the Companies Act, 2013, including matters relating to mergers and amalgamations, corporate governance, and protection of

The Insolvency Appellate Tribunal NCLAT has affirmed the "clean slate principle" under the Insolvency and Bankruptcy Code (IBC), which bars any attempt to reestablish pre-resolution shareholders' rights, and rejected the claims of a shareholder of Sintex Industries. A two-member NCLAT bench dismissed the appeal by a Kerala-based investor seeking around Rs 110 crore in compensation for 1,35,000 equity shares of Sintex Industries Ltd (SIL) that were extinguished under the company's insolvency resolution plan. The appellate tribunal ruled that shareholders, whose equity was extinguished under the company's insolvency resolution plan, cannot revive their rights through proceedings under the Companies Act after the bids have been approved and the resolution plan has attained finality with a new ownership. The National Company Law Appellate Tribunal (NCLAT) said Section 238 of the Insolvency & Bankruptcy Code (IBC) gives it primacy over all other laws, including the Companies Act, 2013,

However, the dues recouped still remain minimal

Subhash Chandra's repayment plan was backed by creditors holding 80.81 per cent of voting value, despite objections from several banks and institutional lenders

NCLT has approved Subhash Chandra's ₹6.5 crore repayment plan against ₹22,006.57 crore claims; the plan was backed by creditors holding 80.81 per cent of the voting share

Mumbai bench holds Rs 20 crore paid by Pen India towards film release as financial debt under IBC, imposes moratorium and appoints interim resolution professional

The MCA will study third-party litigation funding for PUFE transactions as funds worth over Rs 4.38 lakh crore remain locked in avoidance proceedings under the insolvency regime

The tribunal expressed strong displeasure over the timing of the settlement after extensive hearings, saying considerable judicial time had already been spent on the petitions

Realisations through the IBC declined from around 190 per cent of liquidation value in the early years to 167 per cent in FY26

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The next frontier of insolvency reforms is preparing companies for distress before it strikes

The Ministry of Corporate Affairs has sought stakeholder feedback on a proposed integrated digital platform to streamline insolvency processes and improve transparency under the IBC

The National Company Law Tribunal (NCLT) approved 78 resolution plans involving a total amount of Rs 5,517.66 crore in the three months ended June. It also marked the "highest-ever first quarter performance in terms of approval of resolution plans since the enactment of the Insolvency and Bankruptcy Code, 2016 (IBC)," the tribunal said in a report. The IBC provides for time-bound and market-linked resolution of stressed assets and the final resolution is approved by the tribunal. In the June quarter, the tribunal cleared 78 resolution plans that involved a total amount of Rs 5,517.66 crore, the report said. Till June 30 this year, the tribunal has given its nod for 1,628 resolution plans, involving an aggregate approved value of over Rs 4.78 lakh crore. "As on June 30, 2026, 349 applications seeking approval of resolution plans continued to remain pending before different benches of the NCLT, while 38 matters had already been heard and reserved for orders," the report on its websi

The Reliance Infrastructure subsidiary has signed a debt restructuring agreement with NARCL, reducing its debt by over Rs 1,100 crore and paving the way for the withdrawal of insolvency proceedings

The suppliers allege the EV maker's operating arm owes more than Rs 40 crore in unpaid dues and have asked the NCLT to initiate insolvency proceedings

Draft changes follow IBC Amendment Act, 2026, and aim to plug gaps in insolvency regulations

Creditors filed a winding-up petition after debt-restructuring talks collapsed; Udaan says the proceedings are limited

The panel, chaired by former Sebi whole-time member Ananta Barua, will review the regulatory framework, net-worth requirements and measures to strengthen debenture trustees' role

Pune-based developer Mantra Group has won the stalled Worli project through the insolvency resolution process, marking its third acquisition in Mumbai within a year

Industrialist Anil Ambani has approached the appellate tribunal NCLAT, filing an appeal against the initiation of personal insolvency against him by the NCLT over the petition filed by public sector lender SBI. The Mumbai bench of the National Company Law Tribunal had on June 11, admitted a plea filed by the State Bank of India, seeking personal insolvency against Ambani over default of loans by his group firms - Reliance Communications (RCOM) and Reliance Infratel Ltd (RITL). He was the personal guarantor of the loans extended to his group firms. Ambani's petition came for a hearing before a two-member bench comprising Justice Mohd Faiz Alam Khan and Barun Mitra. However, it was adjourned following the request from his lawyer. "Having regard to the request made by Ld. Counsel for the appellant, list this matter on July 10, 2026, before the appropriate bench," said the NCLAT order dated June 24, 2026. SBI had moved an application under section 95 of the Insolvency & Bankruptcy ...