Stay updated with the latest insolvency news, articles, and insights from trusted sources. Explore in-depth coverage and expert analysis on insolvency topics.
Vedanta Group has emerged as the winning bidder for the debt-ridden Jaiprakash Associates (JAL), surpassing Gautam Adani's Group in a competitive acquisition process. The mining conglomerate's bid of Rs 17,000 crore translated to a net present value of Rs 12,505 crore. JAL, facing insolvency proceedings due to loan defaults, attracted multiple bidders, with Vedanta ultimately securing the deal. Mining conglomerate Vedanta on Friday beat Gautam Adani's Group to make a winning bid for the acquisi ...Read More >
New Delhi: Industry leaders welcomed the recently announced GST reforms, which reduce the number of tax slabs, stating that it will make tax compliance easier while also directly benefiting consumers through lower prices. Jharkhand Chamber of Commerce Joint Secretary Navjot Alang Rubal said that the reduction of the number of slabs from four to two under the new GST structure is a highly positive step. According to Rubal, this reform will greatly benefit the middle and lower-income groups as t ...Read More >
Mumbai Police is preparing to issue a lookout circular against Bollywood actor Shilpa Shetty and her husband Raj Kundra in a fraud case. The celebrity couple is accused by embezzling about Rs 60 crore from a businessman. What is the allegation? Businessman Deepak Kothari had alleged that between 2015 and 2023, the couple had taken Rs 60 crore from him under the pretext of expanding their business but spent it on personal expenses. This amount was taken through a company named Best Deal TV Pvt ...Read More >
New Delhi, Sep 5 (PTI) Mining conglomerate Vedanta on Friday beat Gautam Adani's Group to make a winning bid for the acquisition of debt-ridden Jaiprakash Associates (JAL) for Rs 17,000 crore, according to sources. The bid value translates into Jaiprakash Associates' net present value of Rs 12,505 crore. JAL, which has interests in real estate, cement, power, hotels and roads, has been dragged into insolvency proceedings after it defaulted on payment of loans. Lenders of JAL conducted a chall ...Read More >
New Delhi, Sep 5 (PTI) The NCLT Bar Association has raised concerns after three courtrooms at the insolvency tribunal's Principal bench in the city became non-operational due to severe roof seepage. These courtrooms were located at the CGO complex in the national capital. The National Company Law Tribunal Bar Association (NCLTBA) has written to the Ministry of Corporate Affairs after the eighth floor of Block 3 of the CGO Complex at Lodhi Road has been declared "unsafe for judicial functioning ...Read More >
New Delhi, Sep 5 (PTI) Mining conglomerate Vedanta on Friday beat Gautam Adani's Group to make a winning bid for the acquisition of debt-ridden Jaiprakash Associates (JAL) for Rs 17,000 crore, according to sources. The bid value translates into Jaiprakash Associates' net present value of Rs 12,505 crore. JAL, which has interests in real estate, cement, power, hotels and roads, has been dragged into insolvency proceedings after it defaulted on payment of loans. Lenders of JAL conducted a chall ...Read More >
Penny stock under ₹5, Vantage Knowledge Academy, rallied 5% in intraday deals on Monday, August 25, to its upper price band following the official launch of its Chartered Global Investment Banker (CGIB) certification program. The company, with a market cap of just ₹142 crore, informed exchanges earlier in the day that its CGIB program was officially launched on August 23, 2025, at the MoneyExpo event held at Jio World Convention Centre, Mumbai. The CGIB certification is a comprehensive, thr ...Read More >
New Delhi [India], August 21 (ANI): Parliament passed 15 bills during the monsoon session that saw continuous protests from the opposition members over their demand for debate on Special Intensive Revision (SIR) of electoral rolls in Bihar, with several legislations passed without debate. Rajya Sabha and Lok Sabha were adjourned sine die a day before the scheduled ending of the monsoon session, which commenced on July 21. The Session saw 21 sittings spread over 32 days. Apart from the bills pa ...Read More >
New Delhi, Aug 21 (PTI) The proposed amendments to the insolvency law will help in saving time and ensure faster resolution of stressed assets, IBBI Chairperson Ravi Mital said on Thursday. On August 12, the government introduced a bill in the Lok Sabha to amend the Insolvency and Bankruptcy Code (IBC), proposing a raft of changes, including provisions to reduce the time taken for admission of insolvency resolution applications. The bill, which has been referred to a select committee of the Lo ...Read More >
Asset reconstruction companies (ARCs) in India acquired stressed loans worth Rs 16,876 crore in the first quarter ended June 2025 (Q1FY26), marking a 22 per cent year-on-year (Y-o-Y) growth. They had acquired stressed loans -- non-performing assets (NPAs) plus loans with dues of up to 90 days -- worth Rs 13,852 crore in April-June 2024 (Q1FY25), according to data from the Association of ARCs in India. The association flagged the risk of rising stress in the system due to the adverse fallout of ...Read More >
Shilpa Shetty Kundra, Raj Kundra, and an unnamed person are facing legal trouble as the Economic Offences Wing (EOW) has booked them in connection with an alleged Rs 60.48 crore fraud. The case involves their defunct company, Best Deal TV Pvt Ltd. This action follows a complaint filed by businessman Deepak Kothari regarding a loan-cum-investment deal that reportedly turned sour. Actor Shilpa Shetty Kundra, her husband and businessman Raj Kundra, along with an unidentified individual, have been ...Read More >
Mumbai, Aug 14 (PTI) Mumbai Police have registered a case against actor Shilpa Shetty and her husband Raj Kundra for allegedly duping a businessman of Rs 60.4 crore in a loan-cum-investment deal in their now defunct company Best Deal TV Private Limited, officials said on Thursday. However, a lawyer representing Shetty and businessman Kundra denied the allegations, saying this was a "baseless and malicious case" aimed at maligning his clients, and appropriate action was being initiated against t ...Read More >
Nirmala Sitharaman presented a bill in Lok Sabha to amend the Insolvency and Bankruptcy Code. The bill is now with a parliamentary committee for review. The changes aim to speed up bankruptcy resolutions and improve creditor recoveries. The creditor-led resolution framework will reduce the workload of the National Company Law Tribunal. Finance and corporate affairs minister Nirmala Sitharaman on Tuesday introduced a bill in the Lok Sabha for amendments to the Insolvency and Bankruptcy Code (IBC ...Read More >
New Delhi [India], August 14 (ANI): The credit-to-deposit ratio in Indian banks has stayed below 80 per cent as credit offtake in the country continues to lag, according to a report by CareEdge Ratings. The report highlighted that while both credit offtake and deposit growth have increased sequentially, they remain significantly lower than the levels seen last year. Deposits continued to outpace credit offtake in the current fortnight, leading to a narrowing of the credit-deposit gap. It state ...Read More >
PATNA: Congress leader Rahul Gandhi is all set to embark on 'Vote Adhikar Yatra' from Bihar's Rohtas district on August 17 to register a protest against how the ongoing special intensive revision (SIR) of the electoral rolls was being conducted in the state. This comes at a time when the Opposition is ratcheting up its protest against the SIR and casting aspersions on the integrity of elections. AICC general secretary (organisation) and MP KC Venugopal held a meeting with the INDIA bloc leaders ...Read More >
Mumbai: Actor Shilpa Shetty Kundra, her businessman husband Raj Kundra and another unidentified person have been booked by the Economic Offences Wing (EOW) of the Mumbai Police for allegedly cheating a city-based businessman of Rs 60.48 crore in a loan-cum-investment arrangement linked to their now-defunct company, Best Deal TV Pvt Ltd. The FIR, initially lodged at Juhu police station under various IPC sections for cheating and forgery, was reportedly transferred to the EOW as the sum involved ...Read More >
'Byju's founders reserve all rights to bring actions against those parties that have caused damage to them personally and to their businesses.' IMAGE: Byju's CEO Byju Raveendran's photograph on his company website, July 17, 2024. Photograph: Dado Ruvic/Illustration/Reuters The founders of embattled education technology (edtech) company Byju's are preparing legal action to seek at least $2.5 billion in damages from investors and lenders, whom they blame for harming their business and personal s ...Read More >
New Delhi: Reliance Infrastructure Ltd on Friday said appellate tribunal NCLAT has stayed the insolvency proceedings against the company following a repayment of ₹92.68 crore towards tariff as per an energy purchase agreement. Reliance Infrastructure in its latest regulatory filing said that the National Company Law Appellate Tribunal (NCLAT) has stayed an NCLT order over an appeal filed by it. The Mumbai bench of the the National Company Law Tribunal (NCLT) on May 30 this year directed initia ...Read More >
New Delhi: National Company Law Appellate Tribunal (NCLAT), Friday, stayed the initiation of the corporate insolvency resolution process (CIRP) against Reliance Infrastructure as it was informed that the company had settled the due amount. NCLAT also stayed the National Company Law Tribunal (NCLT) order, which admitted Reliance Infra into insolvency over unpaid debt of around ₹90 crore. NCLT, in May, concluded that Reliance Infra was in default of payment of ₹90 crore to Dhursar Solar Power Pr ...Read More >
New Delhi, July 18 (SocialNews.XYZ) Punjab Governor and Chandigarh Administrator, Gulab Chand Kataria, on Friday discussed critical developmental issues concerning Chandigarh and Punjab, particularly in areas of public transport, tourism infrastructure, and environmental sustainability, with Union ministers here. At a meeting with Minister for Housing and Urban Affairs Manohar Lal Khattar, the Governor raised the pending matter regarding the sanctioning of 328 electric buses for Chandigarh unde ...Read More >
New Delhi, Jul 18 (PTI) JSW Group on Friday said its expansion plan will not be impacted by the Supreme Court order to set aside the acquisition of Bhushan Steel and Power Ltd (BSPL) through the insolvency process. JSW Steel Joint MD and CEO Jayant Acharya, in an earnings call, said that BPSL was not part of the brownfield expansion that the steel company took into account while setting the 50 million tonnes capacity target by 2030-31. "In our 50 MT tonne outlook (expansion) that we have given ...Read More >
New Delhi, Jul 18 (PTI) The central drugs laboratories have found 55 samples manufactured by various firms in June to be "not of standard quality", health ministry officials said on Friday. Further, state drugs testing laboratories have identified 130 drugs samples as 'not of standard quality', they said. Also Read | Chhattisgarh: 6 Bodies of Naxals Recovered in Ongoing Encounter With Security Forces in Narayanpur. According to routine regulatory surveillance activity, the list of 'not of sta ...Read More >
New Delhi: Reliance Infrastructure Ltd on Friday said appellate tribunal NCLAT has stayed the insolvency proceedings against the company following a repayment of ₹92.68 crore towards tariff as per an energy purchase agreement. Reliance Infrastructure in its latest regulatory filing said that the National Company Law Appellate Tribunal (NCLAT) has stayed an NCLT order over an appeal filed by it. The Mumbai bench of the the National Company Law Tribunal (NCLT) on May 30 this year directed initiat ...Read More >
Bengaluru, Jul 18 (PTI) A man was arrested for allegedly using abusive language and derogatory comments against Karnataka and Kannada-speaking people, police said on Friday. The incident occurred on July 17 at around 9.30 am, when Ranjith Mathew, a delivery partner, called a customer, identified as Mithun Sarkar, to confirm the address to deliver a T-shirt ordered by him through an online platform, they said. Also Read | Ladki Bahin Yojana July 2025 Installment Date: When Will Maharashtra Wome ...Read More >
New Delhi, Jul 18 (PTI) Reliance Infrastructure Ltd on Friday said appellate tribunal NCLAT has stayed the insolvency proceedings against the company following a repayment of Rs 92.68 crore towards tariff as per an energy purchase agreement. Reliance Infrastructure in its latest regulatory filing said that the National Company Law Appellate Tribunal (NCLAT) has stayed an NCLT order over an appeal filed by it. Also Read | Ladki Bahin Yojana July 2025 Installment Date: When Will Maharashtra Wome ...Read More >
KOLKATA: An FIR has been lodged against Hasin Jahan, the estranged wife of cricketer Mohammed Shami and Arshi Jahan, Hasin's daughter from her first marriage at Suri in Birbhum district in West Bengal. A few days ago, a conflict erupted over a plot of land in the Sonator area under ward no. 5 of Suri Municipality. The land reportedly belongs to Arshi and it is alleged that neighbor Guddu Bibi was trying to encroach that land. It is alleged that after the construction work started on the land o ...Read More >
New Delhi: Beleaguered edtech firm BYJU's founders, Byju Raveendran and Divya Gokulnath, are gearing up to file an over $2.5 billion suit against Glas Trust and others for damage to their reputation and business, a statement from their counsel said Thursday. The founders are preparing to sue Glas Trust and others in India as well as in foreign countries, according to the statement. "BYJU's founders reserve all rights to bring actions against those parties that have caused damage to them person ...Read More >
Mumbai: US-based short seller Viceroy Research's report on Vedanta Resources (VRL) has no new information that has not been voluntarily shared with shareholders previously, VRL's chief executive officer Deshnee Naidoo said Thursday. "The authors of the report have compiled only part information filled with gross inaccuracies which you've also discerned as part of this meeting," Naidoo said addressing shareholders at the annual general meeting of India-listed Vedanta. On Wednesday, Viceroy Rese ...Read More >
NEW DELHI: US-based investigative financial research Viceroy Research has alleged that the entire group structure of Vedanta is "financially unsustainable, operationally compromised, and poses a severe, under-appreciated risk to creditors". In its report, Viceroy said that Vedanta Resources "resembles a Ponzi scheme". Viceroy said on Wednesday it is shorting the debt stack of Vedanta Resources (VRL), the parent company and majority owner of Vedanta Ltd (VEDL). It described Vedanta Resources as ...Read More >
Mumbai: Vedanta shares fell over 7 per cent during intra-day trading on Wednesday after a report by US short-seller Viceroy Research alleged that the conglomerate resembled a "Ponzi" scheme -- a claim that Anil Agarwal-owned company has vehemently denied. "The entire group structure is financially unsustainable, operationally compromised, and poses a severe, under-appreciated risk to creditors," according to the short-seller report. According to the US-based short seller, Vedanta Resources Ltd ...Read More >
Stay updated with the latest None news, articles, and insights from trusted sources. Explore in-depth coverage and expert analysis on None topics.