Tag: NCLT
NCLT stops repayment plan for Essel Group’s INR220bn loan
A five-member bench of the National Company Law Tribunal (NCLT) stays a INR65 million repayment plan as settlement for a INR220 billion loan taken by Essel Group
Minority shareholders revive class actions for accountability
NCLT admits India’s first major shareholder class action, reviving section 245 enforcement against promoter misconduct
Insolvency directors’ duties shift to creditors under IBC section 66
Directors’ duties shift to creditors in insolvency: Section 66 liability for fraudulent and wrongful trading risks
Easy redomiciling of foreign entities – a game changer
Redomiciliation to India is gaining traction as companies seek simplified structures, tax efficiency and access to Indian capital markets
Greater access to credit greater chance of fraud
The Companies Act boosts powers to investigate corporate fraud and mismanagement
Court rules out prosecution after resolution plan approval
Delhi High Court ruled in BPSL v Union of India (2025) that a corporate debtor cannot be prosecuted for pre-CIRP offences after resolution approval
Reverse flipping – medium rare or well done?
Indian-origin startups are increasingly executing “reverse flips,” relocating holdings from offshore to India
IBC not a tool for debt collection
The IBC aims to revive distressed entities, but its application often differs
Reasoning at the heart of decision
NCLT must provide reasoned order to reject IBC resolution plan, says Supreme Court. Committee-approved plans not to be questioned
