Author: Legal 60

NCLT Chandigarh Clarifies Section 14 Moratorium Does Not Extend To Personal Guarantors, Admits SBI’s Section 95 Pleas Introduction The Chandigarh Bench of the National Company Law Tribunal (NCLT), comprising Judicial Member Shri Khetrabasi Biswal and Technical Member Shri Shishir Agarwal, held that the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 is

FIS Appoints Arpita Sen as VP & Associate General Counsel, Head of Legal – India FIS has appointed Arpita Sen as Vice President & Associate General Counsel, Head of Legal – FIS India, marking a significant leadership addition to its legal and compliance function in the region. Arpita Sen brings with her over 30 years

Bombay High Court Rules Court-Ordered Deposits Retain Character As Corporate Debtor Assets Despite Post-CIRP Bank Guarantee Encashment Introduction The Bombay High Court, in a significant ruling concerning the interface between insolvency law and court-ordered deposits, held that monies deposited pursuant to judicial directions continue to retain the character of assets of the corporate debtor, even

Cyril Amarchand Mangaldas advised Healthcare Global Enterprises Limited on its rights issue of equity shares The leading law firm in India, Cyril Amarchand Mangaldas advised Healthcare Global Enterprises Limited on its rights issue of equity shares, April 09, 2026, Mumbai. The transaction, aggregating to approximately INR 42,468.18 lakhs, involved the issuance of equity shares which

Novartis Appoints Aditi Gandhi as Head Legal – Gulf Novartis has appointed Aditi Gandhi as Head Legal – Gulf, marking a significant step in strengthening its legal leadership across the region. Aditi Gandhi steps into this role following her impactful association with Novartis, which began in January 2025 through a GCC secondment. During this period,

NCLT Bengaluru Holds FEMA Compliance In Aakash–Byju’s Rights Issue Beyond Section 60(5) IBC Jurisdiction Introduction The Bengaluru Bench of the National Company Law Tribunal (NCLT), comprising Judicial Member Shri Sunil Kumar Aggarwal and Technical Member Shri Radhakrishna Sreepada, dismissed an application filed by Aakash Educational Services Limited in the ongoing CIRP of Think & Learn

NCLT Indore: Restricting CIRP Negotiations to H1–H2 Bidders Valid When Rooted in RFRP and Value Maximisation Introduction The National Company Law Tribunal, Indore Bench, has held that restricting negotiations in a Corporate Insolvency Resolution Process (CIRP) to higher-ranked bidders is not arbitrary where such restriction is expressly contemplated under the Request for Resolution Plan (RFRP).

NCLT Amaravati Admits CIRP Against Kallam Textiles, Holds SARFAESI And DRT Proceedings No Bar To Section 7 Over ₹210 Crore Default Introduction The National Company Law Tribunal, Amaravati Bench, in Union Bank of India v. Kallam Textiles Ltd., admitted a Section 7 application under the Insolvency and Bankruptcy Code, 2016 against Kallam Textiles for a

NCLT Hyderabad Rules Chit Fund Companies Fall Outside CIRP, Dismisses Section 7 Plea as Not Maintainable Introduction The National Company Law Tribunal, Hyderabad Bench, has held that chit fund companies qualify as “financial service providers” under the Insolvency and Bankruptcy Code, 2016, and therefore cannot be proceeded against as corporate debtors under the ordinary corporate

Trilegal advised Apraava Energy on sale of Jhajjar Power Project to Jindal Power The leading law firm in India, Trilegal advised Apraava Energy Private Limited on the divestment of its 1,320 MW Jhajjar Power Project in Haryana to Jindal Jhajjar Power Limited, a wholly owned subsidiary of Jindal Power Limited. The transaction involved the acquisition