Corporate Law

Background and Facts The National Company Law Appellate Tribunal on September 11, 2026 held that the power of the President of the National Company Law Tribunal to transfer a case from one Bench to another is not confined by the territorial limits of those Benches. The ruling in Kamlesh Rani Singla v. Praveen Kumar Garg and Others [Company Appeal (AT) (Insolvency) No. 275 of 2026] is reported as 2026 LLBiz NCLAT 347. Laxmi Pipes Limited was admitted into the Corporate Insolve

Background and Facts The Securities and Exchange Board of India launched a pilot programme on September 10, 2026 under which corporate bonds are issued as digital tokens recorded on a distributed ledger. The initiative, announced at the Global Fintech Fest and styled Demat 2.0, is the first structured attempt to place Indian corporate debt on shared ledger infrastructure operated by market infrastructure institutions. Three issuers had come to market by launch. REC Limited is

Section 29A of the Insolvency and Bankruptcy Code, 2016 is the gatekeeping provision of the resolution process. It disqualifies defined categories of persons from submitting a resolution plan, and it reaches beyond the applicant to anyone acting jointly or in concert with him and to his connected persons. Eligibility disputes are among the most common grounds on which approved plans are challenged, and the NCLAT has recently confirmed that the list is exhaustive: a practising

Background and Facts The National Company Law Appellate Tribunal, New Delhi has held that a practising chartered accountant is not disqualified from submitting a resolution plan merely because of his professional status. The ruling in Vinay Gupta v. Oswal Minerals Limited and Satellite Cables Private Limited [Company Appeal (AT) (Insolvency) No. 1038 of 2026 with No. 1032 of 2024] is reported as 2026 LLBiz NCLAT 345. Satellite Cables Private Limited was admitted into the Corp

Background and Facts The Supreme Court on September 8, 2026 held that a prosecution against a company cannot be quashed merely because the chargesheet fails to name the natural person through whom the company is said to have acted. The judgment in Sanofi India Limited v. Central Bureau of Investigation is reported as 2026 INSC 957. Sanofi India Limited supplied medicines to the Rare Materials Project of the Bhabha Atomic Research Centre across 2011-12, 2013-14 and 2015-16. Th

Provident fund, pension and gratuity dues occupy a distinct position in an insolvency. Under Section 36(4)(a)(iii) of the Insolvency and Bankruptcy Code, 2016 (IBC), sums due to workmen and employees from these funds are excluded from the liquidation estate altogether. They are not a high-ranking claim inside the Section 53 waterfall; they sit outside it. The Supreme Court's order of August 31, 2026 in State Bank of India v. Manoj Kumar Das, arising from the Jet Airways liqui

Background and Facts The Supreme Court on September 6, 2026 held that time extension charges levied by a development authority for a developer's delay are penal in character and cannot be loaded into the insolvency resolution process costs of the corporate debtor. The judgment in The Authorised Representative for Granite Gate Properties Private Limited v. M/s New Okhla Industrial Development Authority and Others is reported as 2026 INSC 952. Granite Gate Properties Private Li

Background and Facts A three-judge bench of the Supreme Court on August 31, 2026 declined to interfere with an order of the National Company Law Appellate Tribunal (NCLAT) in State Bank of India and Others v. Manoj Kumar Das and Others [Civil Appeal Nos. 10778-10780 of 2026], leaving intact the finding that provident fund, pension and gratuity dues of former Jet Airways employees fall outside the liquidation estate of the corporate debtor. Jet Airways (India) Limited was admi

When a Corporate Insolvency Resolution Process (CIRP) fails to produce an approved resolution plan, the company enters liquidation under Section 33 of the Insolvency and Bankruptcy Code, 2016 (IBC). Liquidation does not always mean piecemeal asset stripping. Under Regulation 32(e) of the IBBI (Liquidation Process) Regulations, 2016, the liquidator can sell the corporate debtor as a going concern, preserving the business, its workforce, and its enterprise value. This guide wal

Background and Facts The National Company Law Appellate Tribunal (NCLAT), New Delhi, on September 3, 2026, partly allowed an appeal by Ravikumar Gaurishankar Patel, the successful auction purchaser of Talwalkars Better Value Fitness Ltd., and granted several reliefs to give effect to the Rs. 15 crore going-concern sale of the company during liquidation. Talwalkars Better Value Fitness Ltd., a well-known fitness chain, was admitted into the Corporate Insolvency Resolution Proc

Background and Facts The National Company Law Appellate Tribunal (NCLAT), New Delhi, in Somani Worsted Limited v. Amit Aggarwal, RP of Celebration City Projects Private Limited [Company Appeal (AT) (Ins.) No. 150 of 2026, decided on September 1, 2026] addressed a key question: can a Resolution Professional (RP) revisit and reject a claim that was previously admitted during the Corporate Insolvency Resolution Process (CIRP)? The case arose from the CIRP of Celebration City Pro

The Insolvency and Bankruptcy Code (Amendment) Act 2026 has fundamentally changed how parties can withdraw from an admitted Corporate Insolvency Resolution Process (CIRP). The substituted Section 12A narrows the withdrawal window to a single phase: after the Committee of Creditors (CoC) is constituted but before the Resolution Professional issues the first invitation for resolution plans in Form G. This guide walks through each step of the withdrawal process under the new fra

The Reserve Bank of India (RBI), through A.P. (DIR Series) Circular No. 19 dated July 17, 2026, has consolidated and rationalized the regulatory framework governing Special Rupee Vostro Accounts (SRVAs) used for settlement of cross-border trade transactions in Indian Rupees. The circular supersedes five earlier circulars issued between July 2022 and October 2025, bringing the entire SRVA regime under a single, updated set of instructions effective immediately. What Are Specia

The National Company Law Appellate Tribunal (NCLAT) at Delhi has delivered one of the first significant rulings interpreting the substituted Section 12A of the Insolvency and Bankruptcy Code (IBC) as amended by the IBC Amendment Act 2026. The tribunal has confirmed that withdrawal from a Corporate Insolvency Resolution Process (CIRP) is now barred during two distinct phases: before the Committee of Creditors (CoC) is constituted and after the Resolution Professional issues th

Form AOC-4 is the statutory form under Section 137 of the Companies Act, 2013 through which every company files its financial statements with the Registrar of Companies (RoC). For the financial year ending March 31, 2026 (FY 2025-26), MCA has deployed revised AOC-4 e-forms on the V3 portal with effect from July 14, 2025, introducing mandatory CSR-2 linked filing, new Board's Report disclosures on POSH and maternity benefits, and signed PDF requirements for XBRL filers. This g