Stay updated with the latest insolvency news, articles, and insights from trusted sources. Explore in-depth coverage and expert analysis on insolvency topics.
Lok Sabha passes Insolvency and Bankruptcy Code (Amendment) Bill 2026 to speed up insolvency cases, boost creditor rights, enable cross-border resolution, and strengthen India's financial system. To strengthen the financial system of India, Lok-Sabha have passed the Insolvency and Bankruptcy Code (Amendment) Bill on March 30, 2026. This reform aims to speed up the insolvency resolutions, reduce delays and the improve creditor confidence. While announcing the speech of Nirmala Sitharaman highlig ...Read More >
New Delhi: The Lok Sabha on Monday passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, aimed at accelerating insolvency resolutions and strengthening India's bankruptcy framework. Piloting the Bill, Finance and Corporate Affairs Minister Nirmala Sitharaman said the proposed 12 amendments will help maximise value for stakeholders, improve governance, and address persistent delays caused by litigation. A key provision mandates that insolvency applications be admitted within 14 days ...Read More >
NEW DELHI: Finance minister Nirmala Sitharaman said amendments to the Insolvency & Bankruptcy Code (IBC) will help maximise value for stakeholders as the Lok Sabha passed the bill on Monday.She said the 12th Amendment seeks to strengthen the existing insolvency framework, as well as address practical challenges, and incorporate evolving global best practices. She added that the law has been a major factor in improving the health of the country's banking sector.Citing extensive litigation by prom ...Read More >
New Delhi: Finance and corporate affairs minister Nirmala Sitharaman on Monday said the decade-old insolvency law has been instrumental in improving the health of the country's banking sector by rescuing stressed firms and ensuring recovery of bad loans, as the Lok Sabha passed a bill to amend the legislation. Replying to a discussion on Insolvency and Bankruptcy Code (IBC) Amendment Bill, 2025, in the lower house, Sitharaman said it rolls out new resolution frameworks, stipulates strict timeli ...Read More >
'After some days, the decision was changed. Don't want to go into the details. That is for the right forum,' says Anil Agarwal, chairman of Vedanta Resources. Anil Agarwal, chairman of Vedanta Resources Limited, on Sunday said the company had been declared the highest bidder for Jaiprakash Associates Ltd (JAL), but the outcome of the insolvency process was subsequently altered. In a post on X, Agarwal said the bidding process was conducted through a public auction by the committee of creditors ...Read More >
New Delhi: Anil Agarwal-owned Vedanta has moved the Supreme Court, seeking stay on the Adani Group's ₹14,500-crore debt resolution plan for now insolvent Jaiprakash Associates (JAL). Challenging the rejection of its revised bid, Vedanta told the apex court that the insolvency process lacked transparency and failed to maximise value for creditors. It alleged that the process followed by the JAL's committee of creditors in approving the plan of Adani Enterprises (AEL) was "unfair, opaque, and ine ...Read More >
New Delhi, Mar 30 (PTI) Morpheus Research on Monday released a report accusing travel booking platform MakeMyTrip of indulging in "anti-competitive practices" despite a significant penalty order from the Competition Commission of India (CCI) in 2022 directing the company to stop such practices. According to the report, Morpheus Research, an activist short-seller, which disclosed a short position in the company, alleged that MakeMyTrip continues to enforce price parity arrangements with hotel pa ...Read More >
New Delhi, Mar 30 (PTI) Mining giant Vedanta Ltd has moved the Supreme Court seeking a stay on the NCLT's order approving Adani Group's Rs 14,535 crore bid to acquire Jaiprakash Associates Ltd (JAL). According to the information available on the top court's website, Vedanta filed its appeal on March 25, a day after the National Company Law Appellate Tribunal (NCLAT) refused to stay implementation of the plan. Adani Enterprises Ltd., meanwhile, has also filed a caveat in the Supreme Court, requ ...Read More >
NEW DELHI, March 30 (Reuters) - India has proposed an overhaul of its bankruptcy law, including allowing financial creditors to initiate insolvency proceedings and tightening deadlines, in a bid to speed up resolutions and promote ease of doing business. Resolutions of stressed assets in India have been delayed despite a mandated 330-day timeline under the Insolvency and Bankruptcy Code, introduced in 2016, largely due to procedural and legal hurdles. Cases often pile up for admission at the Na ...Read More >
The Indian Premier League (IPL) 2026 season has barely begun, but it has already delivered its first major controversy. Following Kolkata Knight Riders' (KKR) six-wicket defeat to Mumbai Indians (MI) at the Wankhede Stadium, a pointed remark from captain Ajinkya Rahane has triggered a wider debate - forcing Cricket Australia (CA) to step in with a clarification. At the centre of the storm is Cameron Green, KKR's high-profile signing worth INR 25.20 crore, who did not bowl a single over despite ...Read More >
New Delhi: The Lok Sabha on Monday passed a bill to amend the insolvency law to provide for strict timelines, an out-of-court settlement option and enable the framework for cross-border insolvency processes. Piloting the bill in the Lok Sabha, Finance and Corporate Affairs Minister Nirmala Sitharaman said that 12 amendments are being made in the Insolvency and Bankruptcy Code (IBC), which came into force in 2016, that would help maximise the value for stakeholders and improve the governing proc ...Read More >
Mumbai, Feb 16 (SocialNews.XYZ) Actor Rajpal Yadav, who had surrendered to the police after the Delhi High Court directed him to do so in connection with multiple cheque bounce cases, has been granted interim bail by Delhi High Court till March 18,2026. The actor has got the interim release to attend his niece's wedding in Shahjahanpur. Rajpal Yadav's lawyer informed the HC that he has submitted a DD of Rs 1.5 crore. The actor has been ordered to surrender his passport. The next hearing is on M ...Read More >
New Delhi [India], December 17 (ANI): BJP National Vice President and MP of Kendrapara, Baijayant 'Jay' Panda, on Wednesday, chaired the Select Committee on the Insolvency and Bankruptcy (Amendment) Bill 2025. The report was tabled earlier today in the Lok Sabha. Also Read | India Summons Bangladesh High Commissioner, Says It Expects Yunus' Government to Ensure Safety of Indian Mission. Under Panda's leadership, the Select Committee examined 68 amendments. Each of the amendments for the Insol ...Read More >
Mumbai, Dec 17 (SocialNews.XYZ) Bollywood actress Shilpa Shetty Kundra has categorically denied "the baseless and motivated allegations" about the Economic Offences Wing (EOW) of the Mumbai Police invoking Section 420 (cheating) of the Indian Penal Code against her and her husband, Raj Kundra. On Wednesday, the actress took to the Stories section of her Instagram, and shared a long note quashing the allegations. She wrote, "We categorically deny the baseless.and motivated allegations being cir ...Read More >
The Select Committee on the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, chaired by MP Baijayant Panda, seeks input from stakeholders on proposed changes. The amendment aims to introduce new processes and enhance efficiency in insolvency resolution. The bill was tabled by Finance Minister Nirmala Sitharaman. The Select Committee on the Insolvency and Bankruptcy Code (IBC) Amendment Bill, 2025, is calling for expert opinions and suggestions on the proposed legislative changes. Led by M ...Read More >
The National Company Law Tribunal has admitted an insolvency case against Blu-Smart Mobility Tech. This follows a plea from Lepton Software Export and Research over unpaid dues. The tribunal has appointed an interim resolution professional and suspended the company's board. Blu-Smart Mobility is now under moratorium protection. The company's operations and subsidiaries are intertwined. The National Company Law Tribunal (NCLT) has admitted an insolvency case against Blu-Smart Mobility Tech, the ...Read More >
MUMBAI: Actor Shilpa Shetty on Thursday withdrew her application before the Bombay High Court seeking permission to travel abroad, after the bench expressed its unwillingness to grant her relief. Shetty and her businessman husband Raj Kundra have approached the court challenging Look Out Circulars (LOCs) issued against them by the Mumbai police's Economic Offences Wing (EOW) in connection with a ₹60.48-crore cheating case. Appearing before a division bench of chief justice Shree Chandrashekhar ...Read More >
The Bombay High Court dismissed Anil Ambani's writ petition challenging the State Bank of India's decision to classify Reliance Communications' loan account as 'fraud'. The court found the plea lacked merit, upholding SBI's action taken on June 13, 2025, in accordance with RBI guidelines. Ambani's counsel had argued against an incomplete report and selective show-cause notices. The Bombay High Court on Friday dismissed a writ petition filed by Anil Ambani against the State Bank of India (SBI), ...Read More >
Mumbai: In a major setback to industrialist Anil Ambani, the Bombay High Court on Friday dismissed his plea challenging the State Bank of India's (SBI) decision to classify his loan account as "fraudulent." The account pertained to his firm, Reliance Communications (RCom), which is already under insolvency proceedings. Bench Statement A bench of Justices Revati Mohite Dere and Neela K Gokhale rejected Ambani's petition, stating: "There is no merit in the petition. Petition is dismissed." SBI ...Read More >
Lucknow: Senior Samajwadi Party leader and former minister Gayatri Prajapati was attacked by a fellow inmate inside Lucknow Jail on Tuesday. The scuffle took place within the jail premises, after which prison authorities launched an internal inquiry. According to a statement issued by Dr Ramdhani, DIG Prisons, Lucknow Range, the incident occurred after Prajapati allegedly used abusive language towards another inmate, Vishwas Rajput. In response, Vishwas attacked Prajapati using a sharp object i ...Read More >
BJP leader and Lok Sabha member Baijayant 'Jay' Panda was appointed on Wednesday as the Chairman of the Select Committee constituted to examine the Insolvency and Bankruptcy Code (Amendment) Bill, 2025. BJP leader and Lok Sabha member Baijayant Panda was appointed on Wednesday as the Chairman of the Select Committee constituted to examine the Insolvency and Bankruptcy Code (Amendment) Bill, 2025. According to an official notification, the Select Committee will comprise 24 members drawn from th ...Read More >
New Delhi, Oct 1 (SocialNews.XYZ) The Lok Sabha has constituted a select committee to examine the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, and senior MP Baijayant Panda has been appointed as its Chairperson. The 24-member panel comprises a diverse mix of lawmakers from across parties, including Supriya Sule, Mahua Moitra, Karti P Chidambaram, Biplab Kumar Deb, and Dr CN Manjunath, among others. The Insolvency and Bankruptcy Code (IBC), enacted in 2016, is a landmark reform aimed ...Read More >
New Delhi [India], October 1 (ANI): Bharatiya Janata Party MP Baijayant Panda has been appointed as the Chairperson of the Select Committee of Lok Sabha on the Insolvency and Bankruptcy Code (Amendment) Bill, 2025. Apart from Panda, 23 other MPs from various political parties have been appointed to the committee. Also Read | Rahul Gandhi Retained in Parliamentary Defence Committee, Kamal Haasan Makes Debut. The committee includes BJP MPs D Purandeswari, CN Manjunath, Mitesh Patel Bakabhai, An ...Read More >
New Delhi, Sep 27 (PTI) Independent Sugar Corporation, an Uganda-based Madhvani Group firm, has announced the completion of its acquisition of debt-ridden glass manufacturer Hindustan National Glass & Industries through the Insolvency and Bankruptcy Code process. On Friday, in a duly convened meeting of Hindustan National Glass & Industries Limited's (HNGIL) newly constituted board, the company formally recorded the conclusion of this transition, clearing the way for Independent Sugar Corporati ...Read More >
New Delhi, Sep 26 (PTI) JSW Steel on Friday welcomed the Supreme Court's decision of upholding its resolution plan for Bhushan Power and Steel, saying the verdict has reinforced the integrity and sanctity of the Insolvency and Bankruptcy Code (IBC) Earlier, in the day, the Supreme Court upheld JSW Steel's Rs 19,700 crore resolution plan for debt-ridden Bhushan Power and Steel Limited (BPSL), bringing down curtains to a prolonged legal battle that spanned nearly eight years. A bench comprising C ...Read More >
New Delhi: The Supreme Court, on Friday, dismissed appeals challenging JSW Steel's Rs 19,700 crore resolution plan for Bhushan Power and Steel Limited (BPSL). This was in context to the Court's judgement of May 2, 2025, in which the bench of Justice Bela M Trivedi and Justice Satish Chandra Sharma had struck down JSW Steel's plan and ordered BPSL's liquidation under Article 142 of the Constitution. The bench had then held that the Committee of Creditors (CoC) had erred in approving the plan. ...Read More >
MUMBAI: The Economic Offences Wing (EOW) of Mumbai Police on Monday recorded a detailed five-hour statement from businessman Raj Kundra in connection with a ₹60-crore alleged fraud case implicating him and his actress wife, Shilpa Shetty. Police said preliminary investigations revealed that significant funds flowed from Kundra's company to Bollywood celebrities labelled as fees and other charges. "We recorded Kundra's preliminary statement where he claimed the payments were legitimate expenses ...Read More >
The Supreme Court on Friday suggested major reforms in the Insolvency and Bankruptcy Code "to restore faith in the regulatory and insolvency framework," even as it urged the government to come up with a revival fund to provide financing for stressed real estate projects undergoing insolvency proceedings. The apex court said that the Right to Housing was not merely a contractual entitlement but a facet of the fundamental Right to Life under Article 21 of the Indian Constitution and the governmen ...Read More >
Bengaluru: The Supreme Court recently came down heavily on speculative investors in real estate. Additionally, it said the real estate sector needs systemic reforms to infuse credibility. What prompted this? Mint explains. What did the Supreme Court ruling say? The Supreme Court issued a ruling on 12 September in response to a batch of appeals following a decision by the National Company Law Appellate Tribunal on a housing project in Greater Noida. Affirming NCLAT's ruling that termed the appe ...Read More >
NEW DELHI: Highlighting misuse of insolvency proceedings in real estate sector which is triggered by speculative investors and affecting the interest of genuine homebuyers, Supreme Court said such investors are acting like a "slow poison" for the residential real estate sector and they are interested in making profits and not in getting possession of flats.A bench of Justices JB Pardiwala and R Mahadevan said that "trigger-happy" speculative investors always intend to seek easy exits from the pr ...Read More >
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