TRMONTHLY TRIBUNAL ARCHIVE
Read 40 LawLens analyses of National Company Law Appellate Tribunal decisions published in April 2026, covering key rulings, legal principles and case law.
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The Appellants, acting as unsecured financial creditors and homebuyers of the Corporate Debtor (M/s. Lokaa Developer Pvt. Ltd.), challenged an order dated 28.10.2025 passed by the Adjudicating Authority (NCLT).
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The Appellant filed an application under Section 10 of the Insolvency Bankruptcy Code, 2016 (‘Code’) before the National Company Law Tribunal (NCLT), New Delhi
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The Competition Commission of India (CCI) initiated suo motu proceedings against seven RDSO-approved vendors of polyacetal protective tubes for Indian Railways, alleging a bid-rigging cartel
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The Appellant, acting as a Bankruptcy Trustee, filed an application [IA (IBC) No 951 / 2025] seeking directions against the Respondent to furnish a statement of financial position as mandated under Section 129 of the...
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The Appellants, who are suspended directors and Key Managerial Personnel (KMPs) of the Corporate Debtor (M/s. GVK Energy Ltd.), challenged an order dated 08.01.2026 passed by the NCLT, Hyderabad Bench-II.
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The Corporate Debtor (CD), an SPV incorporated to execute a road project for the Maharashtra PWD, availed a term loan from a consortium of lenders, including Canara Bank (Respondent).
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The Respondent (Owner) and the Appellant (Operator) entered into an Operation & Management (O&M) Agreement on 01.02.2021 for the operation of a sponge iron and power plant
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The Corporate Debtor (CD), M/s. Raheja Developers Ltd., launched an affordable group housing project named "Raheja Krishna Housing Scheme" in Gurugram
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The Corporate Debtor (CD), Unijules Life Sciences Ltd., was admitted into Corporate Insolvency Resolution Process (CIRP) on 08.03.2019
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Kotak Mahindra Bank Ltd. (Appellant) filed an appeal against the Respondents, which was returned by the Registry due to various defects.
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The Appellant, a personal guarantor for the Corporate Debtor (M/s. MBS Impex Pvt. Ltd.), challenged an order dated 08.05.2025 passed by the Adjudicating Authority (NCLT, Hyderabad), which appointed a Bankruptcy Trustee
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The Appellant is a Personal Guarantor for M/s. Smaat India Pvt. Ltd. (Corporate Debtor), which received financial assistance of Rs. 6.39 crores from NABARD (Respondent No. 1) in December 2012
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The Appellants, acting as Personal Guarantors to Corporate Debtors, challenged orders dated 27.05.2025 passed by the NCLT, Kochi Bench, which admitted them into the Insolvency Resolution Process (IRP) under Section 95...
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The Appellant, an Operational Creditor, supplied construction materials to the Corporate Debtor (CD) between 2016 and 2022
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The Appellant, a partner of the Corporate Debtor (an LLP), challenged the Adjudicating Authority’s order dated 08.05.2025, which admitted the partnership firm into the Corporate Insolvency Resolution Process (CIRP).
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Indian Bank initiated Section 7 IBC proceedings against the Corporate Debtor (CD), OCL Iron and Steel Ltd., leading to insolvency commencement on 20.09.2021
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The Appellant, a personal guarantor, filed an application under Section 94 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the insolvency resolution process.
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The Appellants, ex-employees of the Corporate Debtor, filed two appeals challenging the order dated 15.12.2025 passed by the National Company Law Tribunal (NCLT), Mumbai Bench-I, in IA (IBC) (Plan) 65 of 2024
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![Headline: Transferees are bound by transferors' non-compete obligations if Articles of Association mandate adherence to the transferor's liabilities. ### Legal Brief Overview: The NCLAT, New Delhi, addressed a dispute concerning the registration of shares acquired through an auction in France by a competitor (Flovel) and the applicability of non-compete clauses contained in a Joint Venture and Share Purchase Agreement (JVSPA). Key Legal Issues: 1. Maintainability: Can a successful auction purchaser who has paid full consideration but is not yet registered as a member maintain a petition under Sections 59 and 241-242 of the Companies Act, 2013? 2. Incorporation of Restrictions: Is a transferee bound by non-compete restrictions in a JVSPA if the clause is not specifically mirrored in the Articles of Association (AoA)? 3. Company Interest: Can a competitor be registered as a shareholder without being bound by non-compete obligations? Court's Conclusion and Reasoning: 1. Maintainability Upheld: The Tribunal held that a person entitled to shares based on beneficial and financial interest (having paid the consideration) can maintain a petition regarding the company's affairs. The company cannot cite the lack of share certificates or Form SH-4 as a bar when the company itself withheld those documents. 2. Expansion of Article 22: The AoA (Article 22) required a third party to be bound by the "rights, obligations and liabilities of the transferring party... including those defined in the [AoA]." The NCLAT interpreted the word "including" as an expression of expansion. It held that the Board could look beyond the AoA to the JVSPA to enforce obligations (like non-competition) pertaining to the transferred shares. 3. Deeming Fiction of Insolvency: Under Article 25 of the AoA, transfer of shares due to insolvency is treated as if the member transferred them voluntarily. Thus, the transferee (Flovel) steps into the shoes of the transferor (Mecamidi France) and cannot acquire better rights than the transferor possessed. 4. Paramountcy of Company Interest: The Tribunal emphasized that the interest of the company is superior to the interest of individual parties. Allowing a direct competitor to hold a 47% stake without a non-compete obligation would jeopardize the company's business secrecy and commercial viability in tenders. 5. EOGM Notice: The Tribunal clarified that notice sent to a Liquidator’s official email address is valid service; there is no legal requirement to serve the Liquidator’s secretary. Final Order: The NCLAT directed the registration of Flovel as a shareholder but concurrently mandated that Flovel sign and remain bound by the non-compete obligations stipulated in the original JVSPA.. Gh Energy Private Limited vs Flovel Hydro Technologies Privatelimited And Anr & Ors.. National Company Law Appellate Tribunal. LawLens](/stories/thumbnails/headline-transferees-are-bound-by-transferors-non-compete-obligations-if-articles-of-assoc-1b62e3225f6c496d99e29de21b50dfdc.webp)
Mecamidi HPP India Pvt. Ltd. (“MHPP”) was a Joint Venture established via a Joint Venture and Share Purchase Agreement (“JVSPA”) and a Memorandum of Understanding (“MOU”) dated September 15, 2010, between Indian promo...
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The Appellant filed a Section 9 petition [CP (IB) No. 1 of 2020] against the Respondent, which the Adjudicating Authority (NCLT, Indore) dismissed for non-prosecution on 25.03.2022 after the Appellant's counsel failed...
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The Appellants are allottees of a real estate project undergoing Corporate Insolvency Resolution Process (CIRP), which commenced on 30/09/2019
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The Appellant, a registered Resolution Professional (RP) for M/s. Viceroy Hotels Limited, challenged a specific portion (para 53) of the order passed by the National Company Law Tribunal (NCLT), Hyderabad, dated 01.09...
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The Appellant, a shareholder of Thirupur Sri Mahaganapathy Apparels Private Limited, appealed against an order of the National Company Law Tribunal (NCLT) which rejected an application filed under Section 252 of the C...
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The Appellant, ARCIL, is a financial creditor by virtue of assignment deeds dated 28.03.2014 and 10.02.2015 from OBC and IOB
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The Appellant, a partnership firm, was awarded civil contract work by the Corporate Debtor (CD) on 31.12.2014.
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The Appellant, a suspended director of the Corporate Debtor (CD), challenged the Adjudicating Authority’s (NCLT, Mumbai) order dated 13.01.2026, which admitted the CD into Corporate Insolvency Resolution Process (CIRP...
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The Appellant (Operational Creditor), a supplier of hydrocarbon oil, entered into business with the Respondent (Corporate Debtor) in January 2022 on a 'Bill to Ship' basis.
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The Appellant is the owner/lessor of a property in Kolkata leased to the Corporate Debtor (CD) via a 21-year agreement executed in 2008.
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The Appellants filed an interlocutory application (I.A. No. 199/2025) before the NCLT, Hyderabad Bench, seeking a stay of an Extraordinary General Meeting (EGM) scheduled for August 7, 2025
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The Appellant, the erstwhile Managing Director of Veda Biofuel Limited (the Corporate Debtor), challenged the order dated 26.05.2020 passed by the Adjudicating Authority (NCLT).
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The Appellant was the successful bidder in the e-auction of the Corporate Debtor (CD), M/s. Veda Biofuel Limited, sold as a going concern on 16.09.2024
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The Appellant, an Operational Creditor, challenged the order dated 24.04.2025 passed by the NCLT, Amaravati Bench, which dismissed its Section 9 petition under the Insolvency and Bankruptcy Code (IBC)
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The Appellant was the promoter of the Nithin Group of Companies and a personal guarantor for loan facilities availed from the Bank of India.
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The Respondent No. 2 is a family company consisting of the Appellants and Respondent No. 1.
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The Appellant was a Director of the Corporate Debtor (Respondent). Following a Board Resolution dated 14.11.2014, the Appellant obtained a mortgage loan of Rs. 88,00,000 in her own name from ICICI Bank, using her pers...
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The original petitioner, Late Dr. M.A.M. Ramaswamy Chettiar, instituted proceedings in 2014 (TCP No. 1/2016) against Respondent No. 1 (R1) for the repayment of deposits under Sections 73(4) and 74(1) of the Companies...
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The Appellant was appointed as the Liquidator of M/s. Servalakshmi Paper Limited by the NCLT Chennai in 2018
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The Corporate Debtor, M/s. Deccan Chronicle Holdings Limited, entered into a Facility Agreement with Respondent No. 1 (Financial Creditor) on May 13, 2011, for a loan of INR 25 Crores
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The Appellant is the Resolution Professional (RP) of M/s. INMA International Limited.
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The Appellant is the successful auction purchaser of the Corporate Debtor (CD), M/s. Gemini Communication Ltd., which was sold as a going concern.
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