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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, Apr 6 (PTI) The Supreme Court on Monday declined to stay the implementation of the Adani group's Rs 14,535-crore bid to acquire the debt-ridden Jaiprakash Associates Limited (JAL), but provided a safeguard by restraining the firm's monitoring committee from taking any "major policy decisions" without prior nod of the National Company Law Appellate Tribunal. A bench of Chief Justice Surya Kant and Justice Joymalya Bagchi asked mining giant Vedanta Ltd, which is opposing the resolution ...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 >
New Delhi: Finance minister Nirmala Sitharaman on Wednesday said the committee of creditors (CoC) will be allowed to invite land authorities to its meetings for inputs on regulatory and land-related matters under insolvency regulations, a move that could help expedite bankruptcy resolution involving hundreds of real estate projects. Replying to a discussion on the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 in the Rajya Sabha, Sitharaman said the changes limit the scope of adjudicatio ...Read More >
New Delhi [India], April 1 (ANI): Parliament on Wednesday passed key amendments to the Insolvency and Bankruptcy Code (IBC), with Finance Minister Nirmala Sitharaman stating that the changes aim to address delays, improve recovery outcomes and strengthen investor confidence in India's insolvency framework. The Rajya Sabha passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2026, with a voice vote. It had received the Lok Sabha approval on March 30. Also Read | KKR vs SRH Dream11 Predic ...Read More >
New Delhi, Apr 1 (PTI) The Opposition in the Rajya Sabha criticised the government on Wednesday for frequent amendments to the Insolvency & Bankruptcy Code, significant haircuts, alleged favouritism towards large corporate defaulters, and ongoing infrastructure issues at the NCLT, alongside increasing backlogs before the tribunal. The Rajya Sabha was debating the Insolvency and Bankruptcy Code (Amendment) Bill, 2026. The bill has proposed 12 amendments to the Insolvency & Bankruptcy Code (IBC), ...Read More >
New Delhi [India], April 1 (ANI): Parliament on Wednesday passed key amendments to the Insolvency and Bankruptcy Code (IBC), with Finance Minister Nirmala Sitharaman stating that the changes aim to address delays, improve recovery outcomes and strengthen investor confidence in India's insolvency framework. The Rajya Sabha passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2026, with a voice vote. It had received the Lok Sabha approval on March 30. Replying to a discussion on the bill ...Read More >
New Delhi, Apr 1 (PTI) The National Company Law Appellate Tribunal (NCLAT) has set aside an NCLT order rejecting Belgotex India's insolvency plea against Puneet India on the ground of a pre-existing dispute. Allowing the Belgotex India appeal, a two-member NCLAT bench has remanded the matter back to the New Delhi bench of NCLT, directing it to pass a fresh order after hearing all the parties. The appellate tribunal said a "patent illegality has been committed" by the National Company Law Tribu ...Read More >
The Vedanta demermger will transform the Mumbai-listed company into a series of pureplay companies spanning aluminium, zinc, oil and gas, steel, and power, Agarwal told the Financial Times, giving them a "free hand to grow". He anticipates a significant rerating of the group's assets. While the conglomerate's current market capitalisation sits at roughly $27 billion, Agarwal suggested that the combined valuation of the independent entities could double. Under the new arrangement, a private pare ...Read More >
New Delhi, Mar 31 (PTI) Mining billionaire Anil Agarwal's Vedanta Ltd has told the Supreme Court that its tweaked bid for the bankrupt Jaiprakash Associates Ltd was rejected despite being better than Adani Group's offer. In its petition challenging the lenders' decision to accept Adani's takeover offer, Vedanta contended that its addendum bid is about Rs 3,400 crore higher in gross value terms and roughly Rs 500 crore more in net present value compared to the Adani Group's offer. In the bid ch ...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) 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 demerger is designed to create independent, sector-focused companies with their own balance sheets and leadership teams. Management believes that this will allow each business to pursue tailored growth strategies, attract specialised investors and be valued more accurately by the market. The approval by National Company Law Tribunal (NCLT) of Vedanta Ltd's long-awaited demerger plan on Tuesday, marks a defining moment for one of India's largest natural resources conglomerates. The tribunal' ...Read More >
New Delhi, Dec 17 (PTI) The National Company Law Tribunal (NCLT) has approved the merger of eight Flipkart entities, taking the e-commerce major a step closer to obtaining an Indian domicile ahead of its potential public listing. The tribunal has sanctioned the Scheme of Amalgamation involving eight Singapore-incorporated transferor companies merging into Flipkart Internet Private Limited, the Bengaluru-based operational arm. Flipkart will now require approval from the Singapore court before t ...Read More >
Vedanta's plan to demerge its oil-to-metals conglomerate into five separate listed entities has received approval from the National Company Law Tribunal (NCLT). This development comes despite earlier concerns from the government regarding the recovery of dues. Following the news, Vedanta's shares turned positive, rising 3.5%. The National Company Law Tribunal (NCLT) on Tuesday approved the Vedanta demerger plan, paving the way for the splitting of the metals-to-oil conglomerate sector-specific ...Read More >
CHENNAI: Vedanta Ltd on Tuesday received a crucial legal clearance from the Mumbai bench of the National Company Law Tribunal, paving the way for the breakup of the diversified oil-to-metals conglomerate into five separate businesses, the company confirmed in a clarification sought by stock exchanges. The approval marks a major milestone in a restructuring exercise that the company has pursued for over two years, aimed at simplifying its corporate structure and sharpening the strategic focus of ...Read More >
Mumbai, Dec 16 (PTI) The National Company Law Tribunal (NCLT) on Tuesday approved the Vedanta demerger plan, paving the way for splitting the group into sector-specific entities across aluminium, oil and gas, power, and iron and steel. "The sanction to the company scheme is granted," the Mumbai bench of the tribunal, composed of Charanjeet Singh Gulati and Nilesh Sharma, said. NCLT had reserved the order after hearing the matter in November. Vedanta welcomed the NCLT order pronounced on Tuesd ...Read More >
Mumbai: The long legal wait around Vedanta's demerger has finally ended. The Mumbai bench of the National Company Law Tribunal (NCLT) has approved Vedanta Limited's demerger scheme, giving a major boost to the company and its shareholders. With this approval, Vedanta can now move ahead with plans to split its businesses into separate listed companies. All key approvals from shareholders, creditors, and SEBI had already been received earlier. The NCLT clearance was the last major regulatory hurd ...Read More >
Mumbai, Dec 16 (PTI) The National Company Law Tribunal (NCLT) on Tuesday approved the Vedanta demerger plan, paving the way for the splitting of the metals-to-oil conglomerate sector-specific entities across aluminium, oil and gas, power, and iron and steel. "The sanction to the company scheme is granted," the Mumbai bench of the tribunal, comprising Charanjeet Singh Gulati and Nilesh Sharma said. NCLT had reserved the order after hearing the matter on November 12. The Ministry of Petroleum a ...Read More >
Mumbai: Flipkart has secured go ahead from the National Company Law Tribunal (NCLT) to shift its domicile to India from Singapore, taking the Walmart-controlled firm a step closer to IPO, said people aware of the matter. Flipkart did not respond to queries.In April this year, the company had started the process of shifting its base to India, joining a clutch of new age companies that flipped back to the country to align better with local norms and list in domestic bourses amid a booming primary ...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 >
Kolkata, Oct 30 (PTI) Diversified conglomerate ITC Ltd on Thursday reported a 4.1 per cent year-on-year rise in its consolidated net profit to Rs 5,187 crore for the second quarter of the 2025-26 fiscal as compared to Rs 5,054 crore in the same period last year. Consolidated revenue from operations for the July-September quarter marginally declined to Rs 21,256 crore from Rs 21,536 crore a year ago, reflecting a normalisation in the agri business that had witnessed an exceptional export base in ...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 >
Allcargo Logistics has received NCLT approval to demerge its international supply chain business into a new listed entity, Allcargo Global Limited. This restructuring will create four distinct listed strategic business undertakings, enhancing focus and efficiency for both international and domestic operations. Shareholders will receive shares in the new entity on a 1:1 basis. Logistics operator Allcargo Logistics on Monday said it has received the NCLT approval for its restructuring plan to dem ...Read More >
Mumbai, Oct 8 (PTI) The National Company Law Tribunal (NCLT) on Wednesday once again postponed the hearing on Vedanta's demerger proposal to October 29. On September 17, the Mumbai bench of NCLT had deferred the hearing on the matter till October 8, and also directed Vedanta as well as the Ministry of Petroleum and Natural Gas (MoPnG) to file written submissions on the matter within five days. Earlier on August 20, the tribunal had deferred the hearing on the Vedanta demerger to September 17 a ...Read More >
New Delhi, Oct 2 (PTI) Auto components major SKF India group, which has undergone demerger of its automotive and industrial businesses, plans to invest up to Rs 1,460 crore by 2030 across the two verticals, including capacity expansion and setting up of a new plant. The company expects the demerged industrial entity, SKF India (Industrial) Ltd , to be listed by November this year, subject to necessary approvals. The demerger of the industrial business has been completed effective October 1, 20 ...Read More >
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