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INFORMAL BANKRUPTCY SETTLEMENT
SBI Card revises late payment penalty charges: Key changes in credit card late payment structure from May 1, 2026SBI Card has revised its late payment charges, effective May 1, 2026, impacting lower outstanding amounts. A new Rs 100 penalty now applies...- TVS Supply settles dispute with ZTE, withdraws insolvency plea in NCLATTVS Supply Chain Solutions has settled its debt dispute with ZTE Telecom India. The company withdrew its appeal against an order that rejec...
- Trump declares victory, no matter what, Iran war is the latest example of thatDonald Trump has a consistent strategy of declaring victory, even when facing defeats. This approach began in his real estate career and co...
- Don’t be misled: The IRS fresh start program won’t wipe out all your debtThe IRS Fresh Start program helps taxpayers manage tax debt but does not erase everything. It makes it easier to apply for payment plans, s...
- Lok Sabha passes Insolvency and Bankruptcy Code (Amendment) BillThe Lok Sabha has passed the Insolvency and Bankruptcy Code (Amendment) Bill, replacing the underutilized fast-track process with a new cre...
- Creditors recover Rs 3.58 lakh cr through resolution plans under insolvency lawCreditors have recovered Rs 3.58 lakh crore through the resolution of 1,119 cases under the insolvency law by December 31, 2024. Minister H...
- Regular IBC tweaks needed to address bankruptcy challenges, says Corporate Affairs MinistryThe corporate affairs ministry emphasizes continuous refinement of the Insolvency and Bankruptcy Code to address future challenges in corpo...
- Another turbulence for SpiceJet? Falgu Aviation claims airline owes it Rs 67 croreFalgu Aviation Leasing Ltd has approached the NCLT against SpiceJet Ltd, seeking unpaid rental dues of Rs 67 crore for a leased Boeing 737....
- US court nixed lenders’ plea opposing settlement with BCCI, claims Byju’sThe Delaware Bankruptcy Court dismissed Glas Trust Company’s request to halt Byju's settlement deal with BCCI. Byju’s regained control afte...
- Byju's averts insolvency proceedings as NCLAT allows settlement with BCCIByju's had signed a jersey sponsorship agreement with BCCI in March 2019 for three years, which was extended by a year. The company made th...
- Pre-pack scheme under IBC likely for large companies tooAs part of amendments to the IBC, the corporate affairs ministry will likely include the provision to extend the pre-packaged insolvency fr...
- FTX's new CEO helped bolster Enron victims' recoveryJohn J. Ray III took over from founder Sam Bankman-Fried as FTX's chief executive after a disastrous week for the company that started with...
- Ahluwalia Contracts settles dispute with A2 Interiors; moves to withdraw insolvency proceedingsOn May 5, the Delhi-based bench of NCLT had allowed the insolvency plea filed by A2 Interiors Products, an operational creditor, against Ah...
- Pramod, Lakshmi Mittal's brother, declared bankrupt by London high courtDespite Lakshmi being the 10th richest person in India, worth $10.3 billion (Rs 75,889 crore), and ranked 91 among the world’s richest, Pra...
- Sterling SEZ sent for liquidation; NCLT asks government to take punitive action against bankersThe tribunal also excluded the litigation time from the bankruptcy process until further orders.
- Sterling SEZ: NCLT gives an earful to bankers, orders their personal presence FridayNitin and Chetan Sandesara are absconding and are believed to be abroad and are facing a Delhi court trail to declare them fugitive economi...
- How can absconding promoters make one-time-settlement offers, NCLT asks Sterling Biotech lendersThe four promoters of Sterling Biotech are absconding and are facing extradition orders.
- Fugitive economic offender tag on Sandesara brothers will override settlement offer to banks: Enforcement DirectorateOn Tuesday, while submitting its reply, counsel for the ED informed the Mumbai bench of the NCLT that the case is being heard in the specia...
- Deadline for Bhushan Power bids extendedIn the first round of bidding, which closed on February 8, Tata Steel had offered Rs 17,000 crore and JSW Steel offered Rs 11,000 crore.
- No final bid yet from RIL: LyondellBasellAmid reports that RIL was mobilising funds for its acquisition, LyondellBasell said it has not yet received a final bid. RIL's LyondellBase...
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