Timely CIRP Claim Cannot Be Rejected Despite Procedural Lapse: NCLAT Directs RP to Consider Claim under Appropriate Creditor Category [Read Order]

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The National Company Law Appellate Tribunal (NCLAT) New Delhi has held that a claim submitted within the prescribed period during the Corporate Insolvency Resolution Process (CIRP) cannot be rejected merely on technical or procedural grounds. The Appellate Tribunal directed the Resolution Professional (RP) to consider the claim of Amisha In Sky Creation Pvt. Ltd. under…

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Consumer Insolvencies Rise Slightly in Germany in February 2026 | Destatis Data – News and Statistics

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May 22, 2026 According to the latest data from the German Federal Statistical Office (Destatis), consumer insolvencies in Germany rose slightly in February 2026 compared to the same month a year earlier. Consumer Insolvencies Up 0.6 Percent In February 2026, the number of consumer insolvencies increased by 0.6 percent relative to February 2025. Earlier figures…

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DRT Recovery Certificate Gives Fresh Limitation Period for Initiating CIRP: NCLT Admits ₹17.54 Cr Insolvency Plea Against Sunbeam Dealers [Read Order]

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The National Company Law Tribunal (NCLT) Kolkata Bench has admitted a Section 7 insolvency application filed by Bank of India against Sunbeam Dealers Private Limited, holding that a Recovery Certificate issued by the Debt Recovery Tribunal (DRT) constitutes a fresh cause of action and extends the limitation period for initiation of CorporateInsolvency Resolution Process (CIRP).…

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Mortgage of Property Without Actual Disbursal Does Not Constitute Financial Debt under IBC: NCLAT Rejects Financial Creditor Classification [Read Order]

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The National Company Law Appellate Tribunal (NCLAT) New Delhi Bench has ruled that mortgaging property to facilitate a loan transaction without actual disbursal of money to the corporate debtor cannot be treated as a financial debt under the Insolvency and Bankruptcy Code, 2016 (IBC). The Tribunal rejected the appellant’s plea seeking recognition as a financial…