Tag: Section 66 IBC

NCLT Ahmedabad Holds Kanoovi Foods Directors, Third Parties Liable for ₹58.27 Crore Fraudulent Trading Under IBC

Team Law Notify Commissions, Forums & Tribunals April 21, 2026

NCLT _ National Company Law Tribunal _ LawNotify

April 20, 2026 : The Ahmedabad Bench of the National Company Law Tribunal (NCLT) has held the promoters, directors, and certain third-party entities of Kanoovi Foods Private Limited liable for fraudulent and wrongful trading under Section 66 of the Insolvency Read more…

NCLAT Upholds Liability of Directors for Non-Deposit of Salary Deductions, Holds Personal Gain Not Essential for Fraudulent Trading

Team Law Notify Commissions, Forums & Tribunals April 17, 2026

NCLAT _ National Company Law Appellate Tribunal _ LawNotify

April 16, 2026 : The National Company Law Appellate Tribunal (NCLAT), Principal Bench at New Delhi, has affirmed the liability of former directors of Golden Tobacco Limited for failing to deposit amounts deducted from employees’ salaries with a co-operative credit Read more…

NCLAT: Directors’ Remuneration Not Fraudulent Trading Under IBC Without Clear Proof of Intent to Defraud

Team Law Notify Commissions, Forums & Tribunals March 4, 2026

March 04, 2026 : The National Company Law Appellate Tribunal (NCLAT), Principal Bench at New Delhi, has held that remuneration paid to directors for managerial services cannot be treated as fraudulent or wrongful trading under Section 66 of the Insolvency Read more…