Important orders on IBC (March 1 – March 15, 2025)

The following is a snapshot of the important orders passed by the National Company Law Appellate Tribunal (“NCLAT”), under the Insolvency and Bankruptcy Code, 2016 (“Code”), during the period between March 1, 2025 to March 15, 2025.

For ease of reference, the orders have been categorized and dealt with in the following categories i.e., Pre-admission stage, Corporate Insolvency Resolution Process (“CIRP”) stage, Post CIRP stage, Liquidation and Miscellaneous.

1. The NCLAT, in Rakesh Arora v. Acute Daily Media Private Limited, held that Section 65 of the Code, being a penal provision, must be strictly construed according to its literal meaning without stretching its…