When Americans are drowning in debt — and a lot of them are right now, considering that recent data shows credit card balances have topped $1.2 trillion with average credit card APRs hovering above 22% — filing for Chapter 7 bankruptcy can seem like the ultimate lifeline. After all, it’s called the “fresh start” bankruptcy for good reason: Eligible debts get…

This is part 6 of the annual round-up that provides an analytical summary of the key Corporate law rulings of the National Company Law Appellate Tribunal (NCLAT) reported on Taxscan.in in 2025.

Once a Case is Filed Against Borrower, Guarantor’s Case Must Go to the Same NCLT: NCLAT Says Filing Counts as Pendency, Not Just Admission

S. VASUDEVAN vs IDBI TRUSTEESHIPSERVICES LIMITED CITATION : 2025 TAXSCAN (NCLAT) 296

The Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) upheld the admission of a Section 7 application filed against Tuscan Consultants and Developers Private Limited, holding that once a petition is filed against a borrower, proceedings against the guarantor must also go before…

Unregistered Documents Cannot Create Security Interest to Retain Title Deeds: NCLAT Dismisses Appeal

Mr. V. Jaisankar vs Mr. Mahalingam Suresh Kumar CITATION : 2025 TAXSCAN (NCLAT) 333

The National Company Law Appellate Tribunal (NCLAT) has held that unregistered documents, including a Memorandum of Deposit of Title Deeds (MoDT), cannot create a valid security interest to retain title deeds of a corporate debtor’s property during liquidation proceedings.

Mr. V. Jaisankar, the appellant, filed a Company Appeal challenging the order of the National Company Law Tribunal (NCLT), Chennai. The NCLT had allowed an application by the Liquidator of M/s. Ganga Foundations Private Limited (the Corporate Debtor) and directed…

2025 insolvency figures represent a 7% decrease compared to 2024. The number of corporate insolvencies has remained largely consistent throughout the year – 206 in Q1,201 in Q2, 211 in Q3 and 194 in Q4.

While Creditors Voluntary Liquidations (CVLs) continue to account for the majority of corporate insolvencies (535 CVLs/66% of 2025 insolvencies), there has been a 20% decrease compared to 2024 (668 CVLs). Insolvencies have remained consistent with 2024 figures however, due to the increased levels of creditor enforcement via Court appointed liquidations and Receiverships.

Court appointed Liquidations increased by 58%, with 104 recorded in 2025 compared to 66 in 2024. Our analysis of the statistics points to increased creditor…

NCLAT Upholds CCI’s Jurisdiction Under Section 4 of the Competition Act to Probe WhatsApp – Meta Data-Sharing Practices

IN THE MATTER OF: WhatsApp LLC vs Competition Commission ofIndia

CITATION : 2025 TAXSCAN (NCLAT) 371

Dave Ramsey put it pretty bluntly when a caller with a $200,000 combined income rang in asking what their next move is with their $8,000 debt and lack of emergency savings.

He said to “cut up” those credit cards and pay off that credit card debt already. Indeed, Ramsey is right on the money as he usually is regarding those who have outstanding balances accumulating high double-digit interest on various credit cards.

And while cutting up the cards seems a tad extreme, I do think it’s not the wrong call, given the couple has demonstrated they’re not using their card responsibly.

• A recent caller on the Dave Ramsey show should have known that his recent commission check should have gone…

Solar 21, the energy group, has written to its investors saying that it “strongly disagrees” with a move by a number of investors to wind up two of its key companies. The winding-up petitions are being taken against two companies being used to fund a new waste-to-energy plant in England at a cost of £275 million, in a project known as EFW P2. Four of the 1,580 investors in this EFW P2 project are behind the petitions.  The petitions are listed for mention on Monday, and are based on a claim that the companies may become insolvent at a “future date.” Solar 21 told…

Luxury retailer Saks Global is planning to file for Chapter 11 bankruptcy as soon as Sunday, Bloomberg News reported Friday, citing people familiar with the matter.

The owner of New York’s century-old Fifth Avenue flagship store is preparing to file for bankruptcy without a restructuring deal in place, though it aims to craft one in the coming weeks, according to the report.

The company is also in advanced discussions on a $1.25 billion debtor-in-possession financing package with creditors, which would allow it to keep its business running during bankruptcy and pay vendor dues, the Bloomberg report said.