NCLAT dismisses Affle 3i's plea against insolvency of Talent Unlimited
Headline by Prism · from 1 report
The National Company Law Appellate Tribunal dismissed Affle 3i's appeal against the insolvency proceedings initiated against Talent Unlimited Online Services.
The Hindu BusinessLineThe brief
Written by software from the 1 report below.
- The National Company Law Appellate Tribunal rejected an appeal from Affle 3i that challenged the commencement of insolvency proceedings against Talent Unlimited Online Services.
- The court ruled that allegations of fraudulent insolvency proceedings must be filed first with the National Company Law Tribunal rather than being raised initially during an appeal.
- Affle 3i received permission to submit a new application regarding the fraud claims to the lower tribunal.
- This decision ensures that initial adjudicatory processes are followed as mandated by the Insolvency and Bankruptcy Code.
What to watch next
- Potential filing of a new Section 65 application by Affle 3i at the NCLT
- NCLT adjudication on Affle 3i's locus standi to contest the insolvency process
- Progress of the Corporate Insolvency Resolution Process against Talent Unlimited Online Services
The points restate the reports; where one says why it matters, that is Prism's reading, not a reported fact.
Who said what
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Yogesh Khanna
Officiating Chairperson
3 quotes · 1 outlet
“We do not find any good reasons to interfere with the impugned order as it stands”
In the article
…of the appellate tribunal granted Affle 3i liberty to file a fresh application before the National Company Law Tribunal (NCLT) alleging fraudulent initiation of the Corporate Insolvency Resolution Process (CIRP). “ We do not find any good reasons to interfere with the impugned order as it stands ,” said the NCLAT bench comprising Justice Yogesh Khanna (Officiating Chairperson) and Barun Mitra (Technical Member). The Delhi bench of the National Company Law Tribunal (NCLT) on June 12, 2026, admitted the Section 7…
“…. any grievance of fraudulent or malicious initiation of CIRP was required to have been raised by the Appellant (Affle 3i) before the Adjudicating Authority (NCLT) and adjudicated in accordance with law. An issue which was required to have been considered by the Adjudicating Authority in the first place cannot be raised by the Appellant at the appellate stage”
In the article
…were fraudulently initiated, holding that such a plea under Section 65 of the Insolvency & Bankruptcy Code cannot be raised for the first time at the appellate stage and must first be adjudicated by the NCLT. “ …. any grievance of fraudulent or malicious initiation of CIRP was required to have been raised by the Appellant (Affle 3i) before the Adjudicating Authority (NCLT) and adjudicated in accordance with law. An issue which was required to have been considered by the Adjudicating Authority in the first place cannot be raised by the Appellant at the appellate stage ,” it said. The tribunal noted that no foundational material supporting the fraud claim had been placed before the NCLT and that the threshold to prove malicious initiation under Section 65 is rigorous, requiring proof…
Coverage
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All filed from India
NamedIndia · Talent Unlimited Online Services · Affle 3i · Axis Trustee Services · Barun Mitra · Delhi High Court · National Company Law Appellate Tribunal · National Company Law Tribunal · Singapore International Arbitration Centre · Trifecta · Yogesh Khanna
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