IBBI Notifies Amended IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
July 13, 2026 COMMUNICATION COMMITTEE
The Insolvency and Bankruptcy Board of India (IBBI) has notified the Insolvency Resolution Process for Corporate Persons (Third Amendment) Regulations, 2026, introducing procedural reforms aimed at improving efficiency, transparency and time-bound resolution under the Insolvency and Bankruptcy Code (IBC). Some..
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NCLT Ahmedabad holds that Sales Incentive Property Promise Not Operational Debt Under IBC
July 13, 2026 COMMUNICATION COMMITTEE
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) in Green Consultancy v. Jhaveri Spices Private Limited [C.P.(IB)/122(AHM)2026] has held that a claim arising from a sales incentive scheme promising transfer of immovable property does not constitute an "operational debt" under..
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Supreme Court Rules that Supreme Court Rules cannot override the timeline mandate under the IBC
July 13, 2026 COMMUNICATION COMMITTEE
The Supreme Court, in CA Ramchandra Dallaram Choudhary v. Adani Infrastructure And Developers Private Limited has reiterated that the strict timelines prescribed under the Insolvency and Bankruptcy Code, 2016 (IBC) cannot be diluted by permitting belated re-filing of defective appeals. It held..
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NCLAT Rules IBC cannot be used to shield proceeds of crime
July 13, 2026 Communication Committee
The NCLAT, Principal Bench, New Delhi in Value Wise Consultancy Private Limited v. The Deputy Director, Directorate of Enforcement & Ors. [Company Appeal (AT) (Ins) No. 1226 and 1227 of 2022] dismissed an appeal wherein the central question was of prevalence of..
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The acting president of NCLT has issued a notification where powers have been given to a Judicial Member in a single bench to decided cases of certain class
May 14, 2026 COMMUNICATION COMMITTEE INSOL India
On 27 April 2026, in an unprecedented move, the Acting President of NCLT by way an administrative order has authorized Single Judicial Member Bench to hear and dispose of cases of the following nature: (a) Early hearing applications (b) orders for completion of pleadings and..
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NCLAT Rejects Law Firm’s Belated Claim in CIRP: No Disbursement, No Financial Debt
May 14, 2026 COMMUNICATION COMMITTEE INSOL India
The NCLAT, Principal Bench, New Delhi in L & L Partners Litigation v. Jalesh Kumar Grover (RP) [Company Appeal (AT) (Insolvency) No. 1944 of 2025] dismissed an appeal challenging the rejection of a law firm’s claim in the CIRP of..