NCLAT ruled that a lease deed executed by unauthorised persons without consideration is invalid, and the Corporate Debtor cannot claim leasehold rights over the property for inclusion in the CIRP information memorandum.

NCLAT ruled that a bank cannot retain or adjust a Corporate Debtor’s Fixed Deposit towards the liabilities of a group company, holding that the general lien under Section 171 of the Contract Act applies only to debts of the same customer.

NCLAT held that a reconstituted Committee of Creditors cannot revisit or overturn the commercial approval granted by the original CoC to a resolution plan and must act strictly within the remand directions issued by the Adjudicating Authority under the IBC.

NCLAT upheld that inclusion of a strategic investor by an ARC does not breach Regulation 39(1B) and reaffirmed that an unsuccessful resolution applicant who accepted a refund cannot challenge the CoC-approved plan.

The NCLAT held that a statutory first charge under the Municipal Act qualifies as a “security interest” under the IBC, entitling municipal authorities to secured creditor status in liquidation proceedings.