NCLAT: SEBI Penalties Imposed After Liquidation Begins are Not Admissible as Claims - 15.12.2025

NCLAT, New Delhi, held that SEBI penalties imposed after the start of liquidation cannot be admitted as claims under the IBC, and accordingly rejected SEBI’s ?21.80 lakh claim against Annies Apparel Pvt. Ltd., clarifying that such penalties do not qualify as insolvency claims.

Tags : Penalties Liquidation Claims

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