COMPANY LAW3 Sept 2026
Indian Kanoon - Search engine for Indian Law
During an insolvency appeal, the NCLAT extended an interim order from 6 January 2026 until the NCLT decides the settlement application under Section 12A of the IBC. This keeps matters on hold, while the resolution professional has received claims of ₹600 crore. The NCLT has been requested to dispose of the application within six weeks from 6 October 2026.
Key Statutory Highlights
- The NCLAT extended the interim order passed on 6 January 2026 until the Section 12A application is decided.
- The resolution professional has received claims worth ₹600 crore, but no further steps are allowed while the stay continues.
- The NCLT is requested to dispose of the Section 12A application within six weeks from 6 October 2026.
Actionable Advice for Taxpayers / Founders:If you are a party to such an insolvency appeal, monitor the NCLT's decision on the Section 12A application and consult your lawyer promptly if it is dismissed.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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