bankruptcy

New Delhi, April 10 Jaypee Group founder Jaiprakash Gaur on Friday backed the lenders' decision to select the Adani Group as the winning bidder to acquire the assets of the bankrupt Jaiprakash Associates Ltd (JAL).In a statement, Gaur said that the committee of creditors has selected the Adani...

New Delhi, April 6 The National Company Law Appellate Tribunal has ordered the completion of the insolvency proceedings for Future Lifestyle Fashion within three months.While rejecting an appeal filed by an operational creditor, a two-member bench has asked the Resolution Professional and the...

In New Delhi, on April 1, the Parliament passed amendments to the insolvency law to expedite the resolution of struggling companies and reduce the backlog of cases. Finance Minister Nirmala Sitharaman emphasized that the goal is not to liquidate companies, but to help them operate with...

New Delhi, April 1 The opposition in the Rajya Sabha criticized the government on Wednesday for frequent amendments to the Insolvency and Bankruptcy Code, significant haircuts, alleged favoritism towards large corporate defaulters, and ongoing infrastructure issues at the NCLT, along with...

New Delhi, March 30 The government has appointed Aparna Sinha as an ex-officio member of the Insolvency and Bankruptcy Board of India (IBBI), according to an official notification.Sinha, who is currently serving as an Adviser (FSRL) in the Department of Economic Affairs, Ministry of Finance...

Today, the Lok Sabha will consider the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, for further discussion. The bill aims to further amend the Insolvency and Bankruptcy Code of 2016. It seeks to address procedural delays and interpretational issues faced by companies and individuals...

The Lok Sabha has taken up the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, for consideration and passage. Union Finance Minister Nirmala Sitharaman introduced the Bill, which aims to further amend the Insolvency and Bankruptcy Code of 2016. The Bill seeks to address procedural delays...

New Delhi, March 25 The Insolvency and Bankruptcy Code has failed to achieve its intended purpose, as tribunals with limited capacity have been unable to ensure timely resolution of matters, opposition members said in the Lok Sabha on Wednesday.Participating in the debate on the Insolvency and...

New Delhi, March 23 The National Company Law Appellate Tribunal (NCLAT) on Monday directed the Vedanta Group to make the Adani Group a party in its appeals challenging the NCLT's approval of Adani Group's bid to acquire Jaiprakash Associates Ltd (JAL) for Rs 14,535 crore.The two-member bench...

New Delhi, March 22 The Vedanta Group, a major business conglomerate, has approached the National Company Law Appellate Tribunal (NCLAT), challenging the National Company Law Tribunal (NCLT)'s approval of Adani Group's bid to acquire Jaiprakash Associates Ltd for ₹14,535 crore.The Vedanta...

New Delhi, March 20 – The office of United News of India (UNI), located in central Delhi, was the scene of a commotion on Friday evening as police officials, accompanied by lawyers and female personnel, moved to enforce a Delhi High Court order restricting the use of the premises in anticipation...

New Delhi, March 10 – The Union Cabinet has given its approval for amendments to the Insolvency and Bankruptcy Code, potentially paving the way for the introduction of the IBC Amendment Bill in the ongoing parliamentary session, according to sources.The proposed legislative updates are based...

New Delhi, March 10 The Union Cabinet approved amendments to the insolvency law and the Companies Act on Tuesday, according to sources.Specific details could not be immediately ascertained.The sources said that the Cabinet has approved various amendments to the Insolvency and Bankruptcy Code...

Mumbai, March 4 The National Company Law Tribunal (NCLT) has ordered the initiation of insolvency proceedings against Marvel Group promoter Vishwajeet Jhawar.The NCLT Mumbai order, pronounced on January 30 by Justices Prabhat Kumar and Sushil Mahadeorao Kochey, was passed on a petition filed...

New Delhi, February 22 The National Company Law Appellate Tribunal (NCLAT) has directed the withdrawal of insolvency proceedings against realty firm Mahagun after it has reached an agreement with its financial creditor.A two-member bench of the National Company Law Appellate Tribunal (NCLAT)...

London, February 19 – An Indian-origin boss of a property lettings company in Essex, southeast England, who wanted to contest to be elected Mayor of London, has been sentenced for fraud following investigations by the UK's Insolvency Service.Ghanshyam Sarup Batra, also known as Shyam Batra...

New Delhi, February 13 Highlighting the benefits of the insolvency law and the tribunal's performance, NCLT President Chief Justice (Retd) Ramalingam Sudhakar said on Friday that people should stop making unwanted comments about them.The National Company Law Tribunal (NCLT) is a key...