Justice Anupinder Singh Grewal Appointed President of the National Company Law Tribunal (NCLT)
By order dated 29.04.2026, the Appointments Committee of the Cabinet has approved the appointment of Justice (Retd.) Anupinder Singh Grewal, former Judge of the High Court of Punjab and Haryana, as President of the National Company Law Tribunal for a term of five years from the date of assumption of charge, or until he attains the age of 67 years, whichever is earlier.
Insolvency and Bankruptcy Code (Amendment) Act, 2026: Key Highlights Including Creditor-Initiated Resolution Process, Group Insolvency, Cross-Border Framework, and Strict Timelines
The Insolvency and Bankruptcy Code (Amendment) Act, 2026 (Act No. 6 of 2026), notified on 06.04.2026, introduces a creditor-initiated resolution process for smaller corporate debtors, a group insolvency framework, cross-border insolvency rulemaking power, mandatory 14-day admission timelines, CoC supervision of liquidation, and civil penalties replacing criminal offences, among other significant changes.
Interim Moratorium Under Section 96 IBC Cannot Unsettle a Confirmed SARFAESI Auction: NCLT Chandigarh
The NCLT Chandigarh Bench held that where an e-auction has been conducted and sale confirmed before the filing of an application under Section 94 of the IBC, the interim moratorium under Section 96 cannot reverse or stall the concluded sale.
Section 9 IBC Petition Dismissed Where Principal Debt Paid During Pendency and Operational Creditor Claims Only Interest: PepsiCo India Holdings, NCLT Chandigarh
The NCLT Chandigarh dismissed a Section 9 IBC petition against PepsiCo India Holdings Pvt Ltd, holding that where the principal debt was paid during the pendency of proceedings and the operational creditor claimed only interest on unsigned invoices, the conditions under Section 9(5)(i)(b) were not satisfied.
CIRP Admitted Under Section 7 of the Insolvency and Bankruptcy Code Where Debt and Default Are Undisputed: NCLT Chandigarh
The NCLT Chandigarh admitted a Corporate Insolvency Resolution Proceeding against Paytail Commerce Private Limited upon application by a financial creditor under Section 7 of the Insolvency and Bankruptcy Code. The judgment reinforces that once debt and default are established through credible documentary evidence, the Tribunal is statutorily bound to admit the application, regardless of assertions regarding ongoing negotiations or claimed financial difficulties.
Liquidator Cannot Unilaterally Impose Forfeiture Conditions Beyond the Letter of Intent in E-Auction Under Section 60(5) IBC; Excess Amount Beyond EMD Ordered Refunded: NCLT Chandigarh
NCLT Chandigarh held that the liquidator cannot unilaterally impose forfeiture conditions beyond what is stipulated in the Letter of Intent during e-auction of insolvency assets. Amount paid beyond EMD was ordered to be refunded.
High Court Declines to Entertain Writ Petition Challenging NCLT Order; Statutory Remedy Under Section 61 IBC Must Be Availed
Division Bench of Punjab and Haryana High Court declined to entertain writ petition challenging NCLT order admitting Section 7 IBC application, directing petitioners to avail statutory remedy of appeal under Section 61 IBC before NCLAT.