New Delhi, April 6 (IANS) 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 reason to intervene at this stage.”In view of the fact that company appeals are n…
Latest Insolvency and Bankruptcy Code News & Updates
New Delhi, March 30 (IANS) The Enforcement Directorate has investigated 1,105 bank fraud cases under the Prevention of Money Laundering Act (PMLA) and has attached proceeds of crime worth Rs 64,920 crore, Finance Minister Nirmala Sitharaman said in the Lok Sabha on Monday. She also said that action had been taken under the Fugitive Economic Offenders Act (FEOA) against those evading Indian law by staying abroad.This was a reference to high-profile cases such as the Nirav Modi case, including …
New Delhi, March 30 (IANS) The Lok Sabha on Monday approved the Insolvency and Bankruptcy Code (Amendment) Bill, aimed at speeding up insolvency proceedings to resolve cases related to defaulting companies.The Bill introduces a mandatory 14-day timeline for admitting insolvency applications once a company’s default has been established.Finance Minister Nirmala Sitharaman said that the government has proposed a set of 12 amendments to the Insolvency and Bankruptcy Code to further strengthen the…
New Delhi, March 29 (IANS) The National Company Law Appellate Tribunal (NCLAT) has dismissed appeals filed by the BSE, ruling that insolvency courts have the authority to order the defreezing of Demat accounts of companies undergoing insolvency proceedings.In its order, a two-member bench of the appellate tribunal said the National Company Law Tribunal (NCLT) has clear jurisdiction under Section 60(5) of the Insolvency and Bankruptcy Code (IBC) to hear such matters and pass necessary directions….
New Delhi, March 23 (IANS) Finance Minister Nirmala Sitharaman is set to table two key bills — the Finance Bill, 2026 and the Corporate Laws (Amendment) Bill, 2026 — in the Parliament on Monday.The Finance Bill, 2026 aims to give effect to the financial proposals of the Central Government for the 2026–2027 fiscal year. Finance Minister will move for the bill’s consideration and seek its passage.This will mark a key step in implementing the government’s budgetary plans and economic poli…
New Delhi, March 10 (IANS) The Union Cabinet has given its approval for amendments to the Insolvency and Bankruptcy Code, potentially clearing the way to introduce the IBC Amendment Bill in the ongoing parliamentary session, according to sources.The proposed legislative updates are based on the recommendations of a Select Parliamentary Committee chaired by Bharatiya Janata Party MP Baijayant Panda.The committee was tasked with reviewing the current bankruptcy framework. Upon completion, the comm…
New Delhi, Feb 24 (IANS) The Telecom Regulatory Authority of India (TRAI) on Tuesday released recommendations on the auction of radio frequency spectrum in the frequency bands identified for International Mobile Telecommunications (IMT).These recommendations are based on the comments received from stakeholders during the consultation process, and further analysis.According to them, entire available spectrum in the 600 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3300 MHz and 26…
New Delhi, Feb 9 (IANS) The gross NPAs as a percentage of total loans and advances of scheduled commercial banks have been continuously declining during the last eight financial years, and were at a historic low of 2.15 per cent at the end of September 2025, which is lower than the 2010-11 level, the Parliament was informed on Monday. The Reserve Bank of India (RBI) has apprised that the data on gross NPAs of banks is not collected by it on a monthly basis. However, as per the latest data availa…
New Delhi, Feb 5 (IANS) In a relief to the ED, the National Company Law Tribunal (NCLT), New Delhi, has recalled the Corporate Insolvency Resolution Process (CIRP) initiated against M/s Alchemist Limited, holding that the insolvency proceedings were vitiated by fraud, collusion and malicious intent, a statement said on Thursday.The order was pronounced on Wednesday, with the Tribunal exercising its powers under Section 65 of the Insolvency and Bankruptcy Code (IBC), 2016.The NCLT categorically h…
New Delhi, Feb 2 (IANS) Finance Minister Nirmala Sitharaman on Monday said that the government is set to introduce the Insolvency and Bankruptcy Code (IBC) Amendment Bill in the second half of the Budget session, beginning March 9.Addressing a press briefing, a day after presenting the historic reform-oriented Budget 2026-27, she said that the pace and direction of disinvestment should set the tone for revenue generation in the coming years.”Going forward, there will be a lot more divestment. Sp…