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Vedanta had approached the court seeking a stay on Adani Enterprises' Rs 14,500-crore resolution plan. In a setback to Vedanta Group, the Supreme Court on Monday declined to stay the implementation of Adani Enterprises' resolution plan for debt-ridden Jaiprakash Associates Ltd. A bench, led by Chief Justice (CJI) Surya Kant, noted that the insolvency proceedings are already listed for final hearing before the National Company Law Appellate Tribunal (NCLAT) on April 10, and therefore found no r ...Read More >
New Delhi: The Supreme Court Monday refused to stay the implementation of Adani Group's ₹14,500-crore debt resolution plan for debt-laden Jaiprakash Associates (JAL). A bench led by Chief Justice Surya Kant said it didn't see any reason to interfere with the National Company Law Appellate Tribunal (NCLAT) interim order allowing the implementation of the resolution plan, a decision challenged by Anil Agarwal-owned Vedanta. Noting that Vedanta's appeal is now listed for final hearing on April 10 ...Read More >
New Delhi: The Supreme Court on Monday did not interfere with the order of the National Company Law Appellate Tribunal (NCLAT), which had refused to stay Adani Group's Rs 14,535 crore bid to acquire Jaiprakash Associates Ltd (JAL). The bench, however, restrained the monitoring committee of ailing JAL from taking any major policy decision without a prior nod from the NCLAT. The top court asked mining giant Vedanta Ltd and successful resolution applicant, Adani Enterprises Ltd, to raise contentio ...Read More >
New Delhi, Apr 6 (PTI) The Supreme Court on Monday did not interfere with the order of the National Company Law Appellate Tribunal (NCLAT), which had refused to stay Adani Group's Rs 14,535 crore bid to acquire Jaiprakash Associates Ltd (JAL). The bench, however, restrained the monitoring committee of ailing JAL from taking any major policy decision without a prior nod from the NCLAT. The top court asked mining giant Vedanta Ltd and successful resolution applicant, Adani Enterprises Ltd, to ra ...Read More >
The Insolvency and Bankruptcy Board of India has suspended Hitesh Goel, an insolvency professional, for two years due to mishandlings during the insolvency process of Supertech Ltd and Nobility Estates. The decision followed his failure to disclose key details and meet procedural timelines, affecting stakeholders and homebuyers. The Insolvency and Bankruptcy Board of India (IBBI) has revoked Hitesh Goel's registration as an insolvency professional for two years. This decision comes after the IB ...Read More >
New Delhi, Mar 31 (PTI) Insolvency and Bankruptcy Board of India (IBBI) has suspended the registration of an insolvency professional for two years for multiple lapses in handling proceedings of Supertech Ltd and Nobility Estates. In its order passed on March 30, the IBBI's disciplinary committee (DC) found that Hitesh Goel failed to perform his duties provided under the Insolvency and Bankruptcy Code (IBC) and related norms during the corporate insolvency resolution process of the two companies ...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: 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) 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 >
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 >
Bengaluru: Vipan Joshi, chief financial officer at Aakash Educational Services Ltd, has resigned effective 31 October, two people aware of the development said, adding to a leadership churn as the company proceeds with a rights issue. Joshi tendered his resignation about six months earlier, they said. A spokesperson for Aakash confirmed on a call on Tuesday that Joshi had stepped down. Mint reached out to Joshi through calls and text messages but he did not respond. Joshi said in a post on Lin ...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 >
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: 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, June 8 (SocialNews.XYZ) The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea filed by the Resolution Professional (RP) of the Think and Learn Private Limited (TLPL), the parent company of edtech firm Byju's, against an earlier order by the National Company Law Tribunal (NCLT). The NCLT had directed that the shareholding in Aakash Educational Services should remain unchanged until further hearings. A two-member bench of the NCLAT, comprising Justice Sharad Kumar S ...Read More >
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