Search result for 'insolvency and bankruptcy code'

Vedanta to Acquire Jaiprakash Associates: Insolvency Deal

March 28, 2025 16:22

Vedanta Group has shown interest in acquiring Jaiprakash Associates Ltd (JAL) through an insolvency process. Adani Group has also submitted an EOI. Learn more about the deal and the implications...

Adani Group to Acquire Jaiprakash Associates Through Insolvency

March 26, 2025 15:55

Adani Group has expressed interest in acquiring Jaiprakash Associates Ltd (JAL) through insolvency proceedings. JAL, a company with diverse businesses including cement, power, and real estate, is...

Parl Panel Urges Transparent Insolvency Case Tracking

March 19, 2025 20:00

A Parliamentary panel recommends a transparent system to track insolvency case resolution time, a central online portal for resolution plans, and improved CoC representation.

Zomato Faces Insolvency Plea: NCLT Hearing

March 17, 2025 22:29

Zomato faces an insolvency plea before the NCLT due to unpaid dues from an apparel supplier, Nona Lifestyle. The NCLT has adjourned the matter to April.

India's IBC Resolved ₹10 Lakh Cr Insolvency Cases: Minister

March 17, 2025 15:30

India's Insolvency and Bankruptcy Code (IBC) has resolved 28,818 applications involving ₹10 lakh crore, improving the country's ease of doing business ranking. The Minister also highlighted...

Banks Write Off Rs 16.35 Lakh Cr Bad Loans in 10 Years

March 17, 2025 14:19

Indian banks wrote off Rs 16.35 lakh crore in bad loans over the past 10 years, with the highest amount written off in FY19. Learn more about the write-off process and the implications for borrowers.

Ola Electric Shares Plunge 7% Hit 52-Week Low

March 17, 2025 11:56

Ola Electric shares plummeted over 7% after Rosmerta Digital Services filed for insolvency proceedings against Ola Electric Technologies. The stock hit a 52-week low.

Ola Electric Subsidiary Faces Insolvency Proceedings

March 15, 2025 23:07

Rosmerta Digital Services Ltd has filed for insolvency proceedings against Ola Electric Technologies Pvt Ltd, alleging default in payment for services rendered. Ola Electric disputes the claims and...

Jaiprakash Associates Debt Transferred to NARCL

March 12, 2025 22:06

Jaiprakash Associates Ltd has transferred its outstanding loans to National Asset Reconstruction Company Ltd (NARCL) as part of its insolvency process. The consortium of lenders includes SBI, ICICI...

NCLT Extends Deadline for Reliance Capital Transfer to IIHL

March 12, 2025 19:32

The National Company Law Tribunal (NCLT) has given an additional eight days to complete the ownership transfer of Reliance Capital (RCAP) to IndusInd International Holdings Ltd (IIHL). The...

Jaiprakash Associates Must Be Sold as One Unit: NCLT

March 10, 2025 16:08

NCLT rules Jaiprakash Associates must be sold as a whole entity during insolvency proceedings, rejecting the option of dividing assets. The tribunal emphasizes the importance of the company being...

SpiceJet Faces Fresh Insolvency Pleas from Lessors & Pilot

March 8, 2025 13:10

SpiceJet faces fresh insolvency proceedings from three Irish aircraft lessors and a former pilot in NCLT, claiming defaults. The lessors seek initiation of insolvency proceedings against SpiceJet...

NCLAT Notices Adani's Ambuja Over Sanghi Plea

March 6, 2025 20:04

NCLAT has issued a notice to Adani Group entity Ambuja Cements over a plea by Alok Sanghi, former promoter of Sanghi Industries. The plea pertains to a personal guarantee of Rs 84 crore.

NCLAT Condones Delay in PepsiCo Insolvency Case

March 3, 2025 20:25

The National Company Law Appellate Tribunal (NCLAT) has condoned the delay in filing an insolvency petition against PepsiCo India Holdings, allowing a hearing to proceed. The case involves a...

Naveen Jindal Group Acquires Bhadreshwar Vidyut for Rs 500 cr

March 3, 2025 17:39

Jindal Power to acquire Bhadreshwar Vidyut for Rs 500 crore, adding 300 MW to its thermal power portfolio, expanding its presence in Gujarat and bolstering its power generation capacity.

RCAP Ownership Transfer to IIHL: NCLT Sets March 12 Deadline

February 26, 2025 15:40

NCLT directs lenders and monitoring committee to complete all procedural issues by March 12 for Reliance Capital's ownership transfer to IndusInd International Holdings Limited (IIHL).

Insolvency Law: Creditors Recover Rs 3.58 Lakh Crore

February 11, 2025 15:56

Creditors have recovered Rs 3.58 lakh crore through resolution plans under India's insolvency law, according to official data. Learn more about the impact of the Insolvency and Bankruptcy Code (IBC).

IIHL to Acquire Reliance Capital by Feb 26: NCLT Approves

February 10, 2025 21:16

IndusInd International Holdings Limited (IIHL) is set to acquire Reliance Capital by February 26, 2025, after the National Company Law Tribunal (NCLT) approved the acquisition. The move aims to...

IBBI Issues Paper to Streamline Corporate Resolution

February 4, 2025 22:19

Insolvency ''Bankruptcy Board of India (IBBI) proposes amendments to the resolution framework for better efficiency and transparency.

L V Prabhakar Appointed to IBBI | India News

February 3, 2025 19:19

The Indian government has appointed L V Prabhakar, former Canara Bank CEO, as a part-time member of the Insolvency and Bankruptcy Board of India (IBBI).

Improving Insolvency Law Key for Growth: Economic Survey

January 31, 2025 16:47

India's Economic Survey highlights the importance of an efficient insolvency framework for achieving 7-8% growth. It recommends measures like faster resolution processes and deterring frivolous...

IBBI Strengthens Insolvency Law with New Information Utility Rules

January 30, 2025 19:23

The Insolvency and Bankruptcy Board of India (IBBI) has amended rules for information utilities to enhance identity verification and streamline the authentication process for financial default...

IBBI Chief: Cos Should Use Voluntary Insolvency for Productivity

January 30, 2025 18:35

IBBI chief Ravi Mital calls on Indian companies to embrace voluntary insolvency to boost productivity and maximize value, citing the success of such processes in developed countries. Learn more...

Rs 100 Crore Restituted in Media Company Fraud Case: ED

January 30, 2025 18:15

The ED has restituted assets worth Rs 100 crore to banks allegedly defrauded by a Delhi-based media company, Pixion Media Limited. The assets were attached during an investigation under the...

ARCs' Recovery Rate to Surge for Second Year: Report

January 30, 2025 16:40

India's asset reconstruction companies (ARCs) are set to see a significant jump in recovery rates for the second consecutive year, fueled by improved performance in infrastructure sectors and other...

RBI Files for Aviom India Housing Insolvency

January 30, 2025 16:36

The Reserve Bank of India has filed for insolvency proceedings against Aviom India Housing Finance after superseding its board due to governance concerns and payment defaults.

NCLAT Dismisses HUL Insolvency Plea: Operational Creditor's Claim Rejected

January 27, 2025 19:08

The National Company Law Appellate Tribunal (NCLAT) dismissed an insolvency plea against HUL, ruling that the operational creditor's claim was below the threshold limit and involved pre-existing...

NCLAT Overturns Penalty on Mudra Denim Lenders

January 26, 2025 18:43

The National Company Law Appellate Tribunal (NCLAT) has set aside a penalty imposed on lenders of Mudra Denim for delays in the insolvency process, stating there was no laxity on their part. The...

India's Economic Rise: Reforms, Innovation & Sustainability | G20 Sherpa

January 25, 2025 21:22

India's economic growth fueled by reforms, innovation, and sustainability positions it as a global economic powerhouse, says G20 Sherpa Amitabh Kant. Learn more about India's economic...

Tulip Hotels Liquidated by NCLT After Failing to Attract Bidders

January 19, 2025 14:15

NCLT has ordered the liquidation of Tulip Hotels after the company failed to secure a bidder during its insolvency resolution process. The decision comes after the 180-day timeline for finding a...

JSW Energy Acquires 3.6 GW KSK Mahanadi Power Plant

January 13, 2025 18:35

JSW Energy has secured a letter of intent to acquire KSK Mahanadi Power Company, adding 3.6 GW of thermal power capacity to its portfolio. The acquisition is subject to regulatory approvals.

EPFO Can Initiate Assessment During Liquidation: NCLAT

January 3, 2025 20:50

The NCLAT has ruled that EPFO can initiate assessment proceedings during liquidation of a company under IBC. This clarifies the scope of moratorium provisions under the IBC.

Reliance Acquires Karkinos Healthcare for Rs 375 cr

December 28, 2024 13:37

Reliance Industries has acquired oncology-focused healthcare platform Karkinos for Rs 375 crore, expanding its health services business portfolio. Karkinos provides technology-driven solutions for...

Hero Electric Faces Insolvency: NCLT Admits Plea

December 27, 2024 17:15

The National Company Law Tribunal (NCLT) has ordered insolvency proceedings against Hero Electric after admitting a plea by Metro Tyres over unpaid dues of Rs 1.85 crore.

NCLAT Rejects Spaze Towers'' Plea to Confine Insolvency to One Project

December 17, 2024 21:43

The NCLAT dismissed Spaze Towers'' plea to confine insolvency proceedings to only one project, citing the existence of claims from other projects. The tribunal upheld the...

NCLAT Upholds Sale of Golden Jubilee Hotels, Rejects EIH Plea

December 15, 2024 13:32

The NCLAT upheld the sale of Golden Jubilee Hotels to a Singapore-based entity, rejecting EIH's plea against the NCLT order. The tribunal found EIH ineligible under IBC's Section 29A.

ED Restitutes Rs 4,025 Crore in Bhushan Steel Fraud Case

December 14, 2024 10:53

The ED has restituted assets worth Rs 4,025 crore to JSW Steel in the Bhushan Steel bank fraud case, following approval from the Supreme Court. This follows the attachment of assets under the...

Public Sector Bank NPAs at Rs 3.16 Lakh Crore: Parliament Informed

December 10, 2024 16:28

Gross non-performing assets (NPAs) of public sector banks (PSBs) reached Rs 3.16 lakh crore as of September 30, 2024, representing 3.09% of outstanding loans, Parliament was informed on Tuesday.

RBI Calls for Enforceable CoC Code in Insolvency

December 7, 2024 15:59

RBI Deputy Governor advocates for an enforceable code of conduct for the Committee of Creditors (CoC) under India's Insolvency and Bankruptcy Code (IBC) to improve creditor behavior and enhance...

Jaiprakash Associates Loan Outstanding at Rs 55,526 cr - News

December 5, 2024 16:55

Jaiprakash Associates, facing insolvency proceedings, has an outstanding loan of Rs 55,526 crore as on November 10, 2024. The company is under the Insolvency and Bankruptcy Code (IBC).

Ravinder Maini Appointed Executive Director of IBBI

December 4, 2024 18:23

Ravinder Maini, a 2005 batch IRS officer, has taken charge as Executive Director of the Insolvency and Bankruptcy Board of India (IBBI). Maini brings 19 years of experience in public service and a...

NCLAT Dismisses Amazon Wholesale Insolvency Plea

November 26, 2024 20:09

The National Company Law Appellate Tribunal (NCLAT) has dismissed a petition seeking insolvency proceedings against Amazon Wholesale (India), upholding an NCLT ruling.

Govt. Working on Integrated Platform for Insolvency Ecosystem

November 26, 2024 19:11

The Indian government is developing an integrated platform to streamline the insolvency ecosystem, connecting key stakeholders and speeding up resolution processes. The platform aims to address...

India's Insolvency Law: Rs 3.55 Lakh Crore Recovered - Business Standard

November 25, 2024 18:42

India's insolvency law has seen creditors recover Rs 3.55 lakh crore through the resolution of 1,068 cases till September 2024. The government highlights the market-driven nature of recovery...

NCLAT Limits Raheja Insolvency to One Project

November 22, 2024 10:27

NCLAT confines insolvency proceedings against Raheja Developers to ''Raheja Shilas'' project, but seeks report on other projects. Flat buyers seek insolvency for all projects.

IBBI Proposes Mandatory Monitoring Committees for IBC Resolution Plans

November 20, 2024 22:29

IBBI proposes mandatory monitoring committees for resolution plans under the Insolvency and Bankruptcy Code (IBC) to ensure smooth implementation and bolster confidence in the process. The move...

Raheja Developers Challenges Insolvency Over Shilas Project

November 20, 2024 13:49

Raheja Developers has appealed to the NCLAT against the initiation of insolvency proceedings over delays in its Gurugram-based Shilas project, citing force majeure and the project's complexity.

Raheja Developers Faces Insolvency Over Gurgaon Project Delay

November 19, 2024 20:27

The National Company Law Tribunal has ordered insolvency proceedings against Raheja Developers for delays in its Shilas project in Gurgaon, following a petition by flat allottees.

IBC: Lenders Face 72% Haircut in Q2, Delays Cause Liquidations

November 13, 2024 19:09

Icra reports lenders are facing significant haircuts in corporate insolvency cases due to delays exceeding the 270-day timeline, leading to more liquidations. Learn more about the impact on IBC and...

Reliance Power Reports Rs 2,878 Crore Net Profit

November 13, 2024 10:45

Reliance Power has announced a consolidated net profit of Rs 2,878.15 crore in the July-September quarter, driven by a gain from deconsolidation of a subsidiary and settlement of guarantor...

String Metaverse Reports Rs 12 Crore Profit in H1 FY25

November 12, 2024 20:08

Hyderabad-based String Metaverse Ltd reported a profit after tax of Rs 12.13 crore in the first half of FY25, driven by its focus on Web3 gaming, AI, and blockchain technology.

PSBs Show Robust Growth in H1 FY25: FinMin

November 12, 2024 16:09

Public sector banks (PSBs) in India reported strong performance in H1 FY25, with 26% growth in net profit and 11% increase in business, according to the finance ministry.

IBBI Proposes Real Estate Insolvency Reforms

November 7, 2024 21:53

The Insolvency and Bankruptcy Board of India (IBBI) proposes reforms to streamline the insolvency process for real estate companies and enhance protection for stakeholders.

NCLAT Rules IBC Prevails Over TRAI Act in RCom Case

November 7, 2024 12:02

The National Company Law Appellate Tribunal (NCLAT) has dismissed petitions by TRAI in the RCom insolvency case, stating that the IBC overrides the TRAI Act.

IBBI Proposes Mediation for Operational Creditors Before Insolvency

November 6, 2024 21:43

The Insolvency and Bankruptcy Board of India (IBBI) proposes voluntary mediation for operational creditors before insolvency filings, aiming to reduce the burden on the Adjudicating Authority and...

Surety Bonds: Regulatory Changes Key for Growth - Experts

October 27, 2024 18:21

Experts highlight regulatory changes needed to boost surety bond market in India, aiming to reduce reliance on bank guarantees and drive infrastructure development.

Adani Bid Drives Up KSK Mahanadi Power Offers

October 25, 2024 21:18

Adani Group's Rs 12,500 crore bid for KSK Mahanadi Power has sparked a bidding war, with other companies revising their offers upwards. This could lead to a full recovery for the distressed power...

NCLT Orders Insolvency Proceedings Against Spaze Towers

October 24, 2024 16:34

The National Company Law Tribunal (NCLT) has ordered insolvency proceedings against Spaze Towers for failing to complete construction of flats in its 'Spaze Arrow' project in Gurugram. Flat owners...

India to be World's 3rd Largest Economy by 2027: FM

October 21, 2024 22:25

India's Finance Minister predicts India will become the world's third-largest economy by 2027, highlighting the country's sustained growth and investment opportunities.

UCO Bank Q2FY'24: Bad Loan Recovery Improves via NCLT

October 20, 2024 18:00

UCO Bank recovers Rs 414 crore from bad loans through the NCLT mechanism in Q2FY'24, with significant improvement in asset quality. Gross NPA ratio falls to 3.18%, while domestic advances rise...

DVC Acquires Hiranmaye Energy for Rs 1,500cr

October 15, 2024 18:44

Damodar Valley Corporation (DVC) has acquired Hiranmaye Energy for Rs 1,500cr, adding 300 MW to its capacity. This acquisition marks DVC's first foray into the power sector through acquisition.

DHFL Ex-Director Kapil Wadhawan Granted Bail in Yes Bank Fraud Case

October 10, 2024 21:35

A special CBI court granted bail to Kapil Wadhawan, former director of DHFL, in an alleged loan fraud case linked to Yes Bank, citing delay in trial. Wadhawan was arrested in April 2020 and has...

Syska LED Lights Faces Insolvency Proceedings: NCLT Orders CIRP

October 9, 2024 12:00

The National Company Law Tribunal (NCLT) has ordered insolvency proceedings against Syska LED Lights after an operational creditor, Sunstar Industries, claimed unpaid dues of Rs 7.70 crore. The...

NCLT Needs More Manpower Amid IBC Case Delays

October 1, 2024 21:33

The National Company Law Tribunal (NCLT) President calls for more manpower to address delays in insolvency cases under the IBC, emphasizing the need for a second generation of reforms.

SC Allows NBCC to Complete Supertech's Stalled Projects

October 1, 2024 18:58

Supreme Court allows NBCC to complete 17 stalled Supertech projects, affecting 27,000 homebuyers. NCLAT will examine NBCC's proposal, providing relief to homebuyers.

Rs 3.5 Lakh Cr Recovered Under IBC: Ravi Mital

October 1, 2024 17:25

Lenders have recovered Rs 3.5 lakh crore through resolution of stressed assets under the Insolvency and Bankruptcy Code (IBC) in the last eight years, IBBI Chairperson Ravi Mital said. The NCLT has...

Future Lifestyle Fashions Approved by Space Mantra Consortium

September 28, 2024 15:00

Lenders of Future Lifestyle Fashions Ltd have approved the resolution plan submitted by a consortium of Space Mantra and Sandeep Gupta & Shalini Gupta. The resolution plan was approved by the...

IBBI Amends Rules for Improved Creditor Representation in Insolvency

September 26, 2024 22:12

The IBBI has amended insolvency rules to enhance creditor representation, particularly for large groups like homebuyers, ensuring their voices are heard during the process.

NBCC Moves SC to Complete Supertech's Stalled Projects

September 24, 2024 19:27

NBCC seeks Supreme Court approval to complete 17 stalled Supertech projects, benefiting over 27,000 home buyers. The move follows a similar intervention in the Amrapali case.

Make in India Celebrates 10 Years: Success and Future

September 24, 2024 17:45

India's 'Make in India' initiative celebrates 10 years, boasting successes in manufacturing, investment, and job creation. Commerce Minister Goyal highlights key achievements and future prospects.

SpiceJet Faces New Insolvency Plea: NCLT Issues Notice

September 23, 2024 14:33

SpiceJet faces another insolvency plea from an operational creditor, Techjockey Infotech Pvt Ltd, over unpaid software services. NCLT issues notice, next hearing on November 14.

IBBI Urges Transparency in Insolvency Process | India News

September 17, 2024 20:50

IBBI Chairperson Ravi Mital emphasizes transparency from insolvency professionals during resolution, aiming to improve bids and reduce haircuts. Learn more about the IBC ecosystem.

Kulwant Singh Appointed IBBI Executive Director - Latest News

September 13, 2024 18:35

Kulwant Singh, a 1999 batch officer of the Indian Audit and Accounts Service, has taken charge as Executive Director of the Insolvency and Bankruptcy Board of India (IBBI).

Go First Insolvency Deadline Extended: NCLT Asks Promoters to Reply

September 4, 2024 20:57

NCLT extends Go First's insolvency resolution deadline for the fourth time, directing the suspended board to file a reply within three weeks. The decision comes after lenders failed to find a buyer...

IIIPI Proposes Measures for Faster Insolvency Resolution

September 2, 2024 19:50

IIIPI recommends specialised NCLT benches and integrated case management software to expedite insolvency resolution under IBC. The study highlights the need for faster resolution of stressed assets.

India Enters 'Transparent' Zone in JLL Real Estate Index

August 27, 2024 14:49

India's real estate market has achieved 'transparency', climbing to 31st in JLL's Global Real Estate Transparency Index 2024, driven by institutionalization and data access.

Surety Bonds for India's Infrastructure Development: Irdai Chairman

August 22, 2024 22:21

Irdai Chairman highlights the crucial role of surety bonds in supporting India's infrastructure development, emphasizing the need to address challenges and foster collaboration. A task force has...

Adani Power Acquires Lanco Amarkantak Power for Rs 4,101 Cr

August 22, 2024 20:51

Adani Power has received NCLT approval to acquire Lanco Amarkantak Power Ltd (LAPL) for Rs 4,101 crore. The acquisition will add 600 MW of thermal power capacity to Adani Power's portfolio.

Central Bank Wins Bid for Future's Insurance Stakes

August 21, 2024 17:21

Central Bank of India has emerged as the successful bidder for Future Enterprises Ltd.'s stake in Future Generali India Life Insurance and Future Generali India Insurance.

Reliance Group vs. IIHL: NCLT Restraint on Brand Name Use

August 19, 2024 18:57

Reliance Group has moved NCLT to prevent IIHL, Reliance Capital's resolution applicant, from using the 'Reliance' brand name following the implementation of the resolution plan.

NCLAT Allows Mitsubishi to Encash Guarantee from Punj Lloyd

August 17, 2024 16:10

The NCLAT has ruled in favor of Mitsubishi Heavy Industries, allowing them to encash the performance guarantee provided by Punj Lloyd. The ruling overturns a previous NCLT order that had restrained...

Insolvency Board Mandates Unique ID for Valuation Reports

August 13, 2024 19:26

The Insolvency and Bankruptcy Board of India (IBBI) will provide a unique identification number for valuation reports to ensure authenticity and verification under the Insolvency and Bankruptcy...

NCLT Orders Insolvency Proceedings Against Coffee Day Enterprises

August 10, 2024 16:08

India's National Company Law Tribunal (NCLT) has ordered insolvency proceedings against Coffee Day Enterprises Ltd (CDEL), the parent company of Cafe Coffee Day, due to a default of Rs 228.45 crore.

IBC Resolution Time at NCLT Rises to 716 Days in 2023-24: Govt

August 6, 2024 20:55

The average time taken for insolvency resolution at the National Company Law Tribunal (NCLT) increased to 716 days in 2023-24, exceeding the stipulated 330-day timeline. The government attributes...

Byju Raveendran Files Caveat Against US Creditor

August 5, 2024 19:38

Byju Raveendran filed a caveat in the Supreme Court against a US-based creditor who opposed the settlement of Rs 158.9 crore dues with BCCI. The creditor alleged 'round-tripping'.

Byju's Wins NCLAT Case, Settles BCCI Dispute

August 2, 2024 16:37

NCLAT approves a Rs 158 crore settlement between Byju's and BCCI, setting aside insolvency proceedings against the edtech giant. The tribunal also dismissed allegations of round-tripping by Byju's...

Byju's Settles BCCI Dues, Denies Round-Tripping

August 1, 2024 19:17

Byju's promoters told NCLAT that Rs 159 crore raised through share sale settled BCCI dues, denying round-tripping allegations. NCLAT continues hearing the case.

Byju's Settlement Deferred: NCLAT Probes 'Round-Tripping' Allegations

July 31, 2024 18:09

NCLAT defers decision on Byju's-BCCI settlement after US creditor alleges 'round-tripping' by Byju's founder. The tribunal seeks clarification on the source of funds.

BCCI, Byju's in Settlement Talks: NCLAT Adjourns Case

July 30, 2024 15:01

The BCCI and Byju's are in talks to settle a Rs 158.9 crore debt dispute. The NCLAT adjourned the case to Wednesday, hinting at a possible resolution.

Byju Raveendran's Byju Insolvency Plea Adjourned at NCLAT

July 29, 2024 12:09

Byju Raveendran's plea against insolvency proceedings of Byju's (Think & Learn) was adjourned at NCLAT as a judge recused himself. The matter will now be heard by a different bench.

Budget Criticized: Farm Laws, Corporatization & Farmers' Concerns

July 24, 2024 19:53

Samyukt Kisan Morcha condemns the Union Budget, claiming it favors corporatization and provides a backdoor entry to repealed farm laws, neglecting farmers' needs.

Budget 2023: Bankers Laud Growth Focus, Fiscal Discipline

July 23, 2024 19:44

Indian bankers have lauded the Union Budget 2023, commending its focus on growth and infrastructure development while maintaining fiscal discipline. They highlight positive implications for the...

Budget 2024-25: Fiscal Prudence & Economic Growth

July 23, 2024 17:11

Experts applaud India's Union Budget 2024-25 for maintaining fiscal prudence, focusing on capital expenditure and targeting a 4.9% fiscal deficit. The budget aims to stimulate economic growth and...

IBC Changes: FM Proposes Tribunal Strengthening, Digital Platform

July 23, 2024 11:51

Finance Minister Nirmala Sitharaman announced changes to the Insolvency and Bankruptcy Code (IBC), including tribunal strengthening and a digital platform for improved outcomes.

Insolvency & Bankruptcy Code: Rs 10.2 Lakh Cr Defaults Settled

July 22, 2024 14:44

India's Insolvency & Bankruptcy Code (IBC) has helped settle Rs 10.2 lakh crore in defaults since 2016, with real estate companies accounting for a significant portion. The IBC has also enabled...

Real Estate Outlook Encouraging: Economic Survey

July 22, 2024 14:19

India's Economic Survey forecasts a positive outlook for the real estate sector driven by urbanization and rising housing demand, but highlights stalled projects as a challenge.

Simbhaoli Sugars Faces Insolvency: NCLT Orders Proceedings

July 12, 2024 19:49

The National Company Law Tribunal (NCLT) has ordered insolvency proceedings against Simbhaoli Sugars Ltd, a leading sugar company, on a petition filed by a former lender.

IBC Transparency & Faster Resolution for Better Recovery: IBBI Chief

July 12, 2024 17:20

IBBI chief urges insolvency professionals for transparency, faster resolution of stressed assets under IBC for better recovery, emphasizing genuine innovations and improved information memoranda.

NCLT Orders Go First to Release Aircraft Engines

July 11, 2024 22:44

The National Company Law Tribunal (NCLT) has directed Go First to release four aircraft engines to Engine Lease Finance (ELF) BV. This is the fourth extension for Go First to complete the Corporate...

SBI Report: Time to Divest State-Owned Banks

July 8, 2024 16:07

SBI recommends disinvestment of public sector banks and consolidation of existing banks in its report. The report also calls for changes to the tax on deposit interest and improvements to the...

Multiplier Brand Solutions Appeals Amazon Wholesale Case at NCLAT

July 4, 2024 20:03

Multiplier Brand Solutions challenges NCLT's dismissal of its insolvency plea against Amazon Wholesale (India) at the National Company Law Appellate Tribunal (NCLAT). The case involves alleged...

Insolvency Professionals Face Challenges from Statutory Authorities: Survey

July 3, 2024 21:21

A survey reveals that insolvency professionals face significant challenges from statutory authorities during the IBC process, including delays and conflicting demands.

Kapil Wadhawan Challenges Insolvency Proceedings - NCLAT

July 1, 2024 20:39

Kapil Wadhawan, former DHFL promoter, appeals NCLT order to initiate personal insolvency proceedings against him. The case has been adjourned to July 18.

IBBI Launches Electronic Forms for Liquidation Processes

June 30, 2024 18:46

The IBBI has introduced electronic forms for liquidation processes under the Insolvency and Bankruptcy Code (IBC) to ease compliance burden and enhance efficiency. These forms cover different...

India's Budget to Accelerate Reforms & Make it 3rd Largest Economy

June 27, 2024 15:17

India's upcoming budget aims to accelerate reforms, boost economic growth, and propel the country to the world's third largest economy. President Droupadi Murmu outlines the government's vision for...

Siti Networks Insolvency Resolution Extended

June 24, 2024 17:44

Lenders of Siti Networks have sought more time to complete the insolvency resolution process of the debt-ridden firm. The CoC met last week to discuss timelines and process updates.

InvITs Should Be Under Bankruptcy Law: SBI MD

June 21, 2024 16:44

SBI MD Ashwini Kumar Tewari calls for bringing InvITs under the Insolvency and Bankruptcy Code, citing concerns over lender recovery in case of defaults. He also suggests changes in NBFC lending...

RCap Resolution: NCLT Defers IIHL Deadline to June 25

June 20, 2024 18:55

The National Company Law Tribunal (NCLT) has deferred the matter regarding IIHL's plea for an extension of the deadline to complete Reliance Capital's resolution to June 25. The matter...

NCLT orders insolvency proceeding against Supernova project developer Supertech Realtors

June 15, 2024 18:21

NCLT orders insolvency proceedings against Supertech Realtors for its Supernova project due to a Rs 168.04 crore default to Bank of Maharashtra. The project, a 80-floor building, is facing...

Reliance Capital Resolution: NCLT Hearing on June 20

June 13, 2024 19:14

The NCLT will hear IIHL's plea for an extension to complete Reliance Capital's resolution on June 20. The Hinduja Group firm is the successful bidder for the debt-ridden company.

Cement Market Consolidation: Top 5 Players to Reach 55% by 2025

June 13, 2024 14:11

ICRA report forecasts top 5 cement players in India to reach 55% market share by 2025, driven by organic and inorganic growth. Consolidation expected in industry.

Go First Insolvency Extended: NCLT Grants 60 Days

June 13, 2024 12:47

The National Company Law Tribunal (NCLT) has granted a fourth extension of 60 days to Go First to complete the insolvency process, pushing the deadline to August 3, 2024.

Jaiprakash Associates Insolvency: NCLAT Orders ICICI to Consider OTS

June 11, 2024 15:13

NCLAT orders ICICI Bank to consider Jaiprakash Associates' one-time settlement proposal, setting a June 24 deadline. The debt-ridden company seeks to pay off its debt within 18 weeks.

IBBI Streamlines IP Appointment Process - New Guidelines

June 6, 2024 22:15

The Insolvency and Bankruptcy Board of India (IBBI) has issued new guidelines to streamline the appointment of insolvency professionals (IPs) as interim resolution professionals, liquidators, and...

RBI Warns of 'Tainted' Promoters Misusing ARC Route

May 31, 2024 20:58

RBI Deputy Governor M Rajeshwar Rao expresses concern over 'tainted' promoters misusing the ARC route to enter bankruptcy proceedings and calls for improved governance practices in ARCs.

NCLAT Reopens Eagle Fashions Bid for Sumeet Industries

May 31, 2024 19:11

The National Company Law Appellate Tribunal (NCLAT) has asked NCLT to reconsider Eagle Fashions'' bid for debt-ridden Sumeet Industries, setting aside an earlier rejection.

NCLT Replaces Resolution Professional in Subhash Chandra's Insolvency Case

May 30, 2024 22:06

The National Company Law Tribunal (NCLT) has replaced the resolution professional in the insolvency proceedings against Zee founder Subhash Chandra, following a plea by Chandra. Shiv Nandan Sharma...

IBC Success: FM Slams Congress for Regressive Policies

May 30, 2024 19:12

Finance Minister Nirmala Sitharaman highlights the success of the Insolvency and Bankruptcy Code (IBC), criticizing Congress for hindering economic growth with regressive policies.

NCLAT Upholds Adani Goodhomes Bid for Radius Estate

May 28, 2024 16:53

NCLAT has upheld Adani Goodhomes' resolution plan for Radius Estate, giving creditors a 93% haircut. The plan was opposed by dissenting financial creditors, but the tribunal said it was 'commercial...

RCap Seeks 90-Day Extension to Implement Resolution Plan

May 23, 2024 13:52

Reliance Capital administrator has requested a 90-day extension from NCLT to implement the resolution plan submitted by the Hinduja Group. The deadline for implementation was originally May 27, 2024.

Real Estate Case Resolution under IBC: Study Highlights Reforms

May 20, 2024 19:22

A study by the Indian Institute of Insolvency Professionals highlights the need for legal and administrative reforms to streamline real estate case resolution under the Insolvency and Bankruptcy...

Creditors' Haircuts Jump to 73% in FY24: IBC Report

May 17, 2024 17:08

Creditors' haircuts in Indian bankruptcy cases rose to 73% in FY24, with resolution times increasing, according to Icra report. Learn about the impact on creditors and the insolvency process.

Jaiprakash Associates Defaults on Rs 4,616 Cr Loans

May 7, 2024 10:26

Jaiprakash Associates has defaulted on Rs 4,616 crore in loans, including principal and interest. The company is undergoing restructuring and has been selling assets to reduce debt.

NCLT Debt Resolution Cases Surge 43% in 2023-24: IBBI

May 4, 2024 16:37

The National Company Law Tribunal (NCLT) saw a 43% increase in debt resolution cases in 2023-24, with the Insolvency Bankruptcy Board of India (IBBI) emphasizing mediation and prepackaged insolvency.

FinMin Studies HC Order on PSBs & Wilful Defaulters

April 29, 2024 15:51

The Finance Ministry is studying a Bombay High Court order that restricts public sector banks from seeking look out circulars against wilful defaulters. The court deemed the practice arbitrary and...

NCLT Orders Insolvency Against Subhash Chandra: Zee Chairman Emeritus

April 22, 2024 22:25

The National Company Law Tribunal (NCLT) has ordered insolvency proceedings against media baron Subhash Chandra on a plea filed by Indiabulls Housing Finance. The order comes after a loan default...

NCLT Orders Insolvency Against Subhash Chandra

April 22, 2024 21:07

The National Company Law Tribunal (NCLT) has ordered insolvency proceedings against media baron Subhash Chandra, a guarantor for a loan given to Essel group firm Vivek Infracon Ltd.

SC Upholds IBC Trial Jurisdiction: Special Courts Can Hear Complaints

April 19, 2024 17:35

The Supreme Court has ruled that special courts presided over by sessions judges can hear complaints under the Insolvency and Bankruptcy Code (IBC), overturning a Bombay High Court decision.

NCLT Disposes Mumbai Metro One Bankruptcy Case

April 15, 2024 17:07

The NCLT has disposed of a bankruptcy case filed by SBI and IDBI Bank against Mumbai Metro One Pvt Ltd, following a one-time debt settlement agreement.

Go First Insolvency: NCLT Extends Deadline by 60 Days

April 8, 2024 22:20

The National Company Law Tribunal (NCLT) has extended the deadline for Go First's insolvency resolution process by another 60 days, marking the third extension. This brings the new deadline to June...

Dream11: NCLAT Stays Insolvency, Orders Company to Remain Operational

April 4, 2024 21:11

The NCLAT has directed the interim resolution professional of Dream11 to maintain the company as a going concern and not take any steps towards insolvency.

NCLT Initiates Insolvency Against MEP Infrastructure - Rs 127.86 Crore Default

April 3, 2024 19:03

The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against MEP Infrastructure Developers Ltd after Bank of India claimed a default of Rs 127.86 crore. Learn more about...

Blackstone to Invest USD 2 Billion Annually in India

April 3, 2024 17:14

Blackstone Group plans to invest USD 2 billion annually in India, seeking faster M&A clearances and easier privatization. The firm highlights India's strong economic momentum and potential in...

IndusInd International Wins RCap Bid for Rs 9,650 Crore

February 27, 2024 20:59

NCLT approves IndusInd International Holdings' Rs 9,650 crore resolution plan for Reliance Capital, resulting in a 63% haircut for lenders. Learn more about the deal and its implications.

Uday Kotak: Regulators Shouldn't Be Too Conservative, Need Fast Response

February 21, 2024 18:47

Veteran banker Uday Kotak urges regulators to be swift in addressing financial sector 'accidents' while maintaining a balanced approach. He highlights the importance of a dynamic regulatory...

Insolvency Law: Debtors Resolve Cases Before Admission - IBBI

February 20, 2024 16:43

IBBI reports a surge in debtors resolving cases before insolvency proceedings, attributing it to the credible threat of ownership change. Over 27,500 applications withdrawn before admission,...

Gitanjali Gems Liquidated: NCLT Orders Winding Up

February 19, 2024 21:00

The National Company Law Tribunal (NCLT) has ordered the liquidation of Gitanjali Gems, promoted by Mehul Choksi, due to ongoing investigations and bleak revival prospects. The company was admitted...

IBBI Streamlines Insolvency Process: New Norms for Transparency &amp; Efficiency

February 16, 2024 20:28

The Insolvency and Bankruptcy Board of India (IBBI) has amended insolvency resolution process norms to enhance transparency, efficiency, and streamline real estate project resolutions.

Insolvency Mediation: Expert Panel Recommends Voluntary Mechanism

February 14, 2024 21:25

An expert panel suggests a voluntary mediation mechanism under India's insolvency law, aiming to enhance dispute resolution and efficiency in the process.

NCLAT Stays Dream11 CIRP Order, Next Hearing Feb 23

February 14, 2024 19:22

NCLAT stays NCLT order to initiate CIRP against Dream11, directing IRP not to take any steps till Feb 23. The order came over an urgent petition by Dream11 co-founder.

Adani Power & DAIT Get CCI Nod for Coastal Energen Acquisition

February 13, 2024 22:05

The Competition Commission of India (CCI) has approved Adani Power and Dickey Alternative Investment Trust's acquisition of Coastal Energen Pvt Ltd, a power generation company undergoing insolvency...

Financial Service Providers Need Regulatory Nod for Liquidation

February 13, 2024 21:46

IBBI mandates that liquidators ensure financial service providers obtain regulatory approval before starting voluntary liquidation under the insolvency law.

Adani Power & DAIT Acquire Coastal Energen: CCI Approval

February 13, 2024 21:10

Adani Power and Dickey Alternative Investment Trust (DAIT) have received CCI approval to acquire 100% stake in Coastal Energen, a power generation company undergoing insolvency resolution.

IBBI Amends Liquidation Norms for Smoother Process

February 13, 2024 20:49

IBBI has amended liquidation norms to streamline the process, increase accountability, and ensure smooth asset disposal. The new rules aim to enhance transparency and efficiency in insolvency...

Go First Insolvency Deadline Extended by NCLT

February 13, 2024 14:30

The National Company Law Tribunal has extended the deadline for Go First's insolvency resolution process by another 60 days, allowing more time for interested parties to submit their bids.

IBBI Requires Resolution Professionals to Share Reports with Creditors, Debtors

February 12, 2024 20:01

The Insolvency and Bankruptcy Board of India (IBBI) mandates resolution professionals to share reports with creditors and debtors to ensure transparency and informed decision-making.

Sustainable Growth: PK Mishra on India's Economic Vision

February 10, 2024 22:55

PK Mishra, Principal Secretary to PM Modi, emphasizes sustainable growth, highlighting India's efforts towards achieving SDGs and becoming a developed nation.

Insolvency Professional Entities Get Peer Review Access

January 25, 2024 21:49

Insolvency Professional Entities (IPEs) enrolled with IIIPI will now undergo peer review, improving service quality and stakeholder confidence under the Insolvency and Bankruptcy Code (IBC).

ICAI Extends Peer Review to Insolvency Entities

January 25, 2024 21:43

The ICAI has extended its peer review framework to insolvency professional entities (IPEs), aiming to improve service quality and stakeholder confidence.

Byju's-BCCI Dispute Goes to Arbitration

January 17, 2024 22:31

Byju's has referred its sponsorship dispute with the BCCI to arbitration, aiming for an amicable settlement. The NCLT has scheduled further hearings in February.

Insolvency Professionals' Crucial Role in Pre & Post Resolution: Report

January 17, 2024 22:05

A new report highlights the vital role of insolvency professionals in pre & post-resolution stages, emphasizing early stress detection and intervention for corporate success.

NCLAT Overturns Liquidation Order of SARE Realty Projects

January 17, 2024 20:46

NCLAT sets aside NCLT's order to liquidate SARE Realty Projects without exploring sale options, ruling that lenders must exhaust resolution steps before liquidation.

MCA Seeks Feedback on Companies & LLP Rules

January 16, 2024 21:17

The Ministry of Corporate Affairs (MCA) is seeking public comments on rules under the Companies Act, 2013 and Limited Liability Partnership Act, 2008.

Pre-Packaged Insolvency: Game Changer for Stressed Assets - RBI Governor

January 11, 2024 22:14

RBI Governor Shaktikanta Das advocates for pre-packaged insolvency resolution as a game changer for resolving stressed assets, highlighting its potential benefits for both creditors and debtors.

NCLAT: Former Promoters Can Bid in IBC Cases

January 11, 2024 20:38

The National Company Law Appellate Tribunal clarifies that former promoters and directors can submit bids in insolvency cases unless they meet specific ineligibility criteria under Section 29A of...

RBI Chief Calls for IBC Course Correction: Recovery Rate, Time & Haircuts

January 11, 2024 17:51

RBI Governor Shaktikanta Das highlights learnings from IBC implementation, suggesting course correction regarding resolution time & haircuts. 32% recovery rate achieved, but challenges remain.

RBI Chief Calls for IBC Course Correction: 32% Claims Recovered

January 11, 2024 17:45

RBI Governor Shaktikanta Das highlights learnings from the Insolvency and Bankruptcy Code (IBC) implementation, suggesting the need for course correction. He notes a 32% recovery rate on claims,...

NCLAT Rejects Jindal Power Bid for Tuticorin Coal Terminal

January 10, 2024 18:27

The NCLAT dismissed Jindal Power's bid to participate in the resolution process of debt-ridden Tuticorin Coal Terminal, upholding the NCLT's decision that JPL was ineligible to submit a Resolution...

NCLAT Saves Hyatt Regency Mumbai From Insolvency

January 9, 2024 22:50

The National Company Law Appellate Tribunal (NCLAT) has set aside insolvency proceedings against Asian Hotels (West), operator of Hyatt Regency, Mumbai. The tribunal accepted the proposal submitted...

Finance Minister Reviews PSB Performance, Discusses Cyber Security

December 30, 2023 19:12

Finance Minister Nirmala Sitharaman met with heads of public sector banks to review their financial performance and discuss concerns related to cyber security and fraud. The meeting also focused on...

Insolvency Resolution Delays: NCLT Faces Challenges

December 30, 2023 11:24

India's insolvency resolution process faces delays due to manpower crunch and missed timelines at NCLT, impacting asset value and creditor recovery.

India Transforms into a Nation of Investors: Uday Kotak

December 29, 2023 16:07

Leading banker Uday Kotak highlights India's shift from a saver to an investor nation, emphasizing the role of mutual funds and equity markets. He also discusses challenges facing the banking...

Vedanta Acquires Meenakshi Energy for Rs 1,440 Crore

December 27, 2023 21:11

Vedanta has acquired Meenakshi Energy Ltd, a 1,000-MW coal-based power plant, for Rs 1,440 crore. The acquisition was approved by the NCLT and the company will now operate the plant as an...

Axis Bank Seeks Zee Learn Insolvency: NCLT Filing

December 27, 2023 11:43

Axis Bank has filed a petition with the NCLT to initiate insolvency proceedings against Zee Learn, seeking to resolve financial defaults. The education services provider has received a notice from...

FM to Review PSB Performance, Govt Schemes

December 26, 2023 18:34

Finance Minister Nirmala Sitharaman to meet PSB heads on Saturday to review performance, implementation of govt schemes like PMJDY, KCC, and credit growth.

Finmin Asks Banks to Monitor Top 20 IBC Cases - PTI

December 22, 2023 22:39

India's Finance Ministry has instructed public sector banks to monitor the top 20 Insolvency and Bankruptcy Code cases. The ministry also emphasized the need for better customer service and...

FinMin Asks Banks to Monitor Top 20 IBC Cases

December 22, 2023 18:46

India's Finance Ministry has instructed public sector banks to closely monitor the top 20 Insolvency and Bankruptcy Code cases. The move aims to streamline bad asset management and ensure timely...

PSU Bank Performance Review: FinMin Meeting on Friday

December 19, 2023 20:52

Finance Ministry to hold meeting with PSU bank heads on Friday to review performance, including NPA management and working of NARCL.

Jindal Stainless to Acquire Rabirun Vinimay for Rs 96 Crore

December 19, 2023 16:29

Jindal Stainless Limited (JSL) has received board approval to acquire Rabirun Vinimay Private Ltd, a company under liquidation, for Rs 96 crore. The acquisition will expand JSL's cold-rolling...

Insolvency Law Enhances Resolution Value: IBBI Member

December 16, 2023 21:24

An IBBI member highlights the structured approach of the Insolvency and Bankruptcy Code (IBC) and its benefits for stakeholder engagement and maximizing resolution value.

PSBs Transfer Over Rs 11,617 Cr NPAs to NARCL - Finance Ministry

December 12, 2023 15:18

10 Public Sector Banks transferred over Rs 11,617 crore in NPAs to NARCL between January and November 2023, according to the Finance Ministry. NARCL has recovered Rs 16.64 crore so far.

NARCL Acquires SREI Cos, Resolves Rs 32,700cr Debt

December 8, 2023 21:51

NARCL successfully acquires SREI Equipment Finance and SREI Infrastructure Finance under the Insolvency and Bankruptcy Code, resolving a significant Rs 32,700 crore financial debt.

Jithesh John Appointed Executive Director of IBBI

December 5, 2023 15:26

Jithesh John, a 2001 batch Indian Economic Service Officer, has taken charge as Executive Director of the Insolvency and Bankruptcy Board of India (IBBI).

NCLT Rejects Insolvency Plea Against SpiceJet

December 4, 2023 19:47

The National Company Law Tribunal (NCLT) dismissed an insolvency petition filed by aircraft lessor Willis Lease Finance Corporation against SpiceJet, granting relief to the low-cost carrier.

Over 1 Lakh Companies Exited in India: Govt

December 4, 2023 17:59

India's government reports over 1 lakh companies voluntarily exited in the last five years, with many seeking liquidation under the IBC. Learn more about the process and its impact on the business...

Go First CEO Resigns Amid Bankruptcy

November 30, 2023 22:20

Go First CEO Kaushik Khona resigns after the airline suspended operations and went into insolvency proceedings. Khona cites unpaid salaries and health concerns.

Go First CEO Resigns After Airline Files for Insolvency

November 30, 2023 19:49

Go First CEO Kaushik Khona has resigned, nearly seven months after the airline filed for insolvency proceedings. Khona cited the delay in resuming operations and unpaid salaries as reasons for his...

IBC Recoveries Decline, Resolution Timelines Prolong: Crisil

November 24, 2023 16:44

Crisil Ratings reports declining IBC recoveries and prolonged resolution timelines, highlighting challenges and recommending solutions for improved efficiency.

NCLAT Adjourns IDBI''s Zee Insolvency Case to Dec 6

November 8, 2023 18:47

The NCLAT has adjourned the hearing on IDBI Bank''s insolvency plea against Zee Entertainment to December 6, after counsel sought an adjournment to complete pleadings.

Jaiprakash Associates Defaults on Rs 4,258 Crore Loans

November 6, 2023 18:16

Jaiprakash Associates has defaulted on Rs 4,258 crore loans, including principal and interest. The company is undergoing debt restructuring and plans to exit the cement sector.

IBC Amendment Exempts Aircraft From Moratorium: DGCA

November 2, 2023 22:22

The DGCA has clarified that the recent amendment to the IBC, exempting aircraft objects from the moratorium, will apply retrospectively. This comes amid Go First's insolvency proceedings and lessor...

IBBI Proposes Amendments to Streamline IBC Resolution Process

November 1, 2023 22:27

The Insolvency and Bankruptcy Board of India (IBBI) proposes amendments to regulations to streamline the corporate resolution process and prevent delays in resolution plan implementation. The...

India Fruit Exports Surge 47% in 5 Years: Govt

INOX Air Products Launches First Green Hydrogen Plant in India

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Search result for 'insolvency and bankruptcy code'

Vedanta to Acquire Jaiprakash Associates: Insolvency Deal

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