National Company Law Tribunal Rules, 2016

The appellant, a former managing director of Sri Lakshmi Hotel Private Ltd., challenged the e‑auction of the company's property, alleging that the reserve price was under‑valued, that the liquidator failed to form a Stakeholders’ Consultation Committee, and that the liquidator violated Regulation 33 by not cancelling t…

State Bank of India (SBI) appealed an order of the NCLT rejecting its IBC petition against India Power Corporation Limited. The appeal was filed three days after the statutory 30‑day period, and SBI sought condonation of delay, relying on a free certified copy of the NCLT order sent under Rule 50. A split decision aros…

The appellant, GLAS Trust Company LLC, a financial creditor of Think & Learn Pvt Ltd (the corporate debtor), challenged the National Company Law Appellate Tribunal's (NCLAT) approval of a settlement between the corporate debtor and the Board of Control for Cricket in India (BCCI) and the setting aside of the NCLT order…

The Greater Noida Industrial Development Authority (GNIDA) claimed that it had submitted a claim of Rs 43.40 crore as a financial creditor against JNC Construction Ltd., but the resolution professional treated it as an operational creditor and the resolution plan approved by the NCLT omitted its claim and undervalued i…

The appellants, who claimed to have purchased 94.8% of the equity shares of M/s. Lexus Technologies Pvt. Ltd., filed a company petition before the NCLT seeking rectification of the Register of Members under Sections 59 and 88 of the Companies Act, 2013 and relief for oppression, mismanagement and fraud. The NCLT, and s…