corporate insolvency resolution process (cirp)

New Delhi, April 10 – The Vedanta Group on Friday questioned the evaluation criteria used by lenders of Jaiprakash Associates Ltd (JAL) in selecting Adani Enterprises' bid of Rs 3,400 crore for the debt-ridden company.During proceedings of the National Company Law Appellate Tribunal (NCLAT)...

New Delhi, April 10 Jaypee Group founder Jaiprakash Gaur on Friday threw his support behind the Adani Group taking over his insolvent infrastructure firm JAL, saying he has full confidence in Gautam Adani's leadership to take the group forward.The statement came days after rival bidder Vedanta...

In New Delhi, on April 6, the Supreme Court declined to block the implementation of Adani Group's ₹14,535-crore bid to acquire Jaiprakash Associates Limited (JAL), but imposed a safeguard by restraining the firm's monitoring committee from making any "major policy decisions" without prior...

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 31 The Insolvency and Bankruptcy Board of India (IBBI) has suspended the registration of an insolvency professional for two years for multiple lapses in handling the proceedings of Supertech Ltd and Nobility Estates.In its order passed on March 30, the IBBI's disciplinary...

New Delhi, March 30 – Vedanta Ltd has approached the Supreme Court seeking a stay on the National Company Law Tribunal (NCLT)'s order approving Adani Group's ₹14,535 crore bid to acquire Jaiprakash Associates Ltd (JAL).According to information available on the top court's website, Vedanta...

New Delhi, March 30 Providing partial relief to NCR-based realty firm Vatika, the NCLAT has restricted the insolvency proceedings against it to a specific Gurgaon-based project, Project Aspirations.Modifying the order passed by the National Company Law Tribunal (NCLT), the appellate tribunal...

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 24 The National Company Law Tribunal (NCLT) on Tuesday declined to stay the Vedanta Group's appeal against the order passed by the NCLT approving Adani Group's bid of Rs 14,535 crore to acquire Jaiprakash Associates Ltd (JAL).The two-member bench of the NCLAT sought a response...

New Delhi, March 23 – In a new affidavit filed before the Supreme Court, industrialist Anil D. Ambani has proposed the formation of a lenders' committee to determine the actual outstanding debts owed by Reliance Communications (RCOM) and its group entities, along with a detailed plan for...

New Delhi, March 17 The National Company Law Tribunal (NCLT) approved Adani Enterprises Ltd.'s ₹14,535 crore bid to acquire Jaiprakash Associates Ltd. through the insolvency process on Tuesday.In a regulatory filing, Jaiprakash Associates Ltd (JAL) informed that the NCLT, Allahabad bench, has...

New Delhi, March 15 The government has challenged the order passed by the NCLT, in which it approved a Rs 900 crore resolution plan by Ashdan Properties for the debt-ridden Rolta India, before the appellate tribunal NCLAT.Challenging the approved resolution plan, the centre said that only Rs...

New Delhi, February 27 The Supreme Court on Friday said that the Insolvency and Bankruptcy Code (IBC), 2016, represents a conscious legislative choice to prioritize speed, certainty, and creditor-driven decision-making over "exhaustive" judicial scrutiny.The court said that experience shows...

New Delhi, February 13 In a landmark decision, the Supreme Court on Friday ruled that the spectrum allocated to telecom service providers is not an asset subject to proceedings under the Insolvency and Bankruptcy Code.This decision will have implications for the telecommunications sector...