The NCLT Allahabad Bench dispensed with shareholder meetings after finding that all shareholders had consented to the proposed reduction of capital and conversion into a company limited by guarantee.
NCLT Kochi held that shareholders have a statutory right to convene an EGM and remove directors through ordinary resolution if legal procedures are followed. The Tribunal ruled that such removal did not amount to oppression or mismanagement.
NCLT observed that the corporate debtor had acknowledged outstanding balances and never denied receipt of loan disbursements. These records were held sufficient to establish debt and default under Section 7 of the IBC.
The NCLT Kolkata admitted a Section 7 IBC petition after holding that the bank successfully established existence of financial debt and repayment default. The Tribunal initiated CIRP and imposed moratorium against the Corporate Debtor.
The NCLT Mumbai approved a resolution plan after holding that EPFO claims based on provisional and pro-rata calculations without adjudication under Sections 7A, 7Q, and 14B could not be admitted in CIRP. The ruling clarified that only crystallized statutory liabilities determined through due process are admissible.
NCLT Indore held that dissolution under Section 54 of the IBC was justified after all assets of the corporate debtor were liquidated and proceeds distributed according to Section 53 priorities. The Tribunal found no remaining assets or pending proceedings.
NCLT Mumbai held that ongoing One-Time Settlement discussions cannot defeat insolvency proceedings when debt and default are admitted. The Tribunal observed that the corporate debtor repeatedly failed to deposit the required upfront OTS amount.
Tribunal noted that the CIRP period, including all extensions, had reached 741 days and expired on 20 November 2025. Since no plan was approved by the CoC, liquidation under Section 33 of the IBC was ordered.
The NCLT Mumbai held that liquidation became mandatory under Section 33(2) of the IBC after the Committee of Creditors rejected all resolution plans with a 95.63% voting share. The Tribunal ruled that, in the absence of an approved plan, liquidation proceedings had to be initiated.
NCLT Chandigarh ordered liquidation of the Corporate Debtor after the Committee of Creditors rejected the only resolution plan received during CIRP. The Tribunal held that requirements under Section 33 of the IBC had been fully satisfied.
