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INSOLVENCY AND BANKRUPTCY CODE
Parliamentary panel backs govt steps to strengthen IBC recovery, seeks deeper action on fund diversionA parliamentary panel has backed govt efforts to improve insolvency recovery, seeking urgent action to prevent fund diversion during insolv...- Over 36,000 firms shut operations in Maharashtra in 5 yrs; Oppn claims graft, govt interferenceIn Maharashtra, over 36,000 private companies have been dissolved within the last five years, particularly affecting the business services ...
- NCLAT junks plea of Log 9 Mobility's executives against order to assist in recovery of EVs leased from GensolThe NCLAT rejected an appeal by Log 9 Mobility's suspended directors. They challenged an NCLT order to help recover leased electric vehicle...
- Capex push has revived private investment as India advances towards Viksit Bharat: Nirmala SitharamanFinance Minister Nirmala Sitharaman outlined Viksit Bharat's vision for a developed nation. She stated that 2047 is an immediate national h...
- Par panel makes various recommendations on corporate laws amendment billA parliamentary panel proposed fixed penalties for certain corporate non-compliances. It suggested allowing in-kind CSR contributions for s...
- NCLAT rejects DoT's 469-crore claim appeal in Rolta insolvency; upholds resolution planThe NCLAT has officially dismissed the Department of Telecommunications' (DoT) appeal against Rolta India's resolution plan, stating it has...
- India climbs 25 places to 57th in global rankings on back of structural, pro-competitive reformsIndia's position in structural and global rankings has improved from 82nd to 57th as per a statement by the Ministry of Commerce & Industry.
- NCLT rejects Authum's plan for Vas Infra over CIRP issueThe NCLT rejected Authum Investment's plan for Vas Infrastructure due to irregularities. The tribunal found misrepresentation of assets and...
- India 25 notches up on global competitiveness indexIndia advanced 25 places to rank 57th globally in a competitiveness index. This improvement reflects sustained efforts in reducing market d...
- SC says insolvency shield cannot protect real estate promoters from homebuyers' casesThe Supreme Court ruled promoters and directors cannot use insolvency moratorium against homebuyers. This decision provides significant rel...
- JC Flowers Asset Reconstruction Company in talks to merge into Assets CareJC Flowers Asset Reconstruction Company is in talks to merge with ACRE. This move would create one of the largest bad-loan aggregators in I...
- Byju’s RP moves NCLT against Google in fresh data-access disputeResolution professional Shailendra Ajmera, who’s backed by EY, has filed an application under Section 60 (5) of the Insolvency and Bankrupt...
- Punjab & Sind Bank hopes to surpass Rs 1,000 crore recovery target in FY27Punjab & Sind Bank anticipates exceeding its recovery target for the current fiscal year. The bank is actively reducing non-performing asse...
- NCLT approves Aspect JV's resolution plan for Radius & Deserve Land DevelopersThe NCLT approved Aspect Group's resolution plan for Radius & Deserve Land Developers. This approval concludes the company's corporate inso...
- MCA plans unified digital platform for insolvency ecosystem, seeks stakeholders’ inputsThe Ministry of Corporate Affairs has proposed creating a unified digital platform for India's insolvency ecosystem to speed up the resolut...
- SC issues notice on Venugopal Dhoot's plea against order upholding separate insolvency for VIL, VOVLThe Supreme Court will hear Venugopal Dhoot's plea against an NCLAT order. This order upheld separate insolvency proceedings for two Videoc...
- Gratuity, leave encashment not part of CIRP cost: NCLATThe NCLAT dismissed an appeal regarding priority payment of gratuity dues. It upheld an earlier NCLT order concerning Duncans Industries' f...
- RBI bars banks, NBFCs from selling acquired stressed assets back to defaulting borrowers, related partiesNew Reserve Bank of India norms will prevent lenders from reselling acquired assets to defaulting borrowers. These prudential rules apply t...
- NCLT clears 78 resolution plans involving Rs 5,518 cr in June quarterThe National Company Law Tribunal approved 78 resolution plans totaling Rs 5,517.66 crore. This marks the highest first quarter performance...
- NCLAT allows withdrawal of insolvency case against Oswal Overseas after settlement with creditorThe National Company Law Appellate Tribunal allowed Oswal Overseas' appeal withdrawal after a settlement. Oswal Overseas and LH Sugar Facto...
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