LiveLawBiz IBC Weekly Digest: September 28

Can NCLT Allow Withdrawal Of CoC-Approved Resolution Plan? Supreme Court Reserves Verdict Case Title : BANK OF INDIA VS. S.M KAMAL PASHA Case Number : DIARY NO. – 37619/2026 The Supreme Court on Wednesday reserved its judgment on whether the National Company Law Tribunal can permit withdrawal of an application seeking approval of a resolution…

Scottish company in liquidation after HMRC court action

The Herald revealed HMRC had moved against T.U Paye Limited and a similarly named company, T.U Pay Limited. Monthly company insolvencies by type, Scotland, August 2021 to August 2026, not seasonally adjusted. Source: Companies House (Image: Companies House/Insolvency Service) HMRC said on its list that it “has reason to suspect that T.U Paye Limited users…

South Africa sees 227 business liquidations

South Africa – A total of 227 businesses were liquidated in August 2026, marking a 15.3% decline from the 268 recorded during the same month last year. The latest figures from Statistics South Africa (Stats SA) show that liquidations fell by 6.4% during the first eight months of the year, from 1,952 in January–August 2025…