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NEW DELHI: Supreme Court on Friday held that telecom companies cannot claim ownership over spectrum allocated to them by govt and the natural resource cannot be subject to insolvency and liquidation process of a bankrupt telecom company.A bench of Justices P S Narasimha and A S Chandurkar rejected the plea of banks, which submitted that…
The government plans to introduce the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 in the second half of the Budget session beginning March 9, Finance Minister Nirmala Sitharaman said, adding that the parliamentary committee examining the proposed law has already submitted its report.The proposed changes are aimed at further improving timelines and effectiveness of insolvency…
India must allow insolvency and bankruptcy to build dynamic, risk-taking economy: PM’s Economic Advisory Council member Sanjeev Sanyal NEW DELHI: India needs to be comfortable with people and companies going bankrupt, as continuous insolvency and bankruptcy are essential for building a risk-taking and dynamic economy, said Economic Advisory Council to the Prime Minister (EAC-PM) member…
The insolvency appellate tribunal NCLAT has ruled that the Committee of Creditors (CoC) cannot modify an approved resolution plan to reallocate funds meant for dissenting financial creditors, reaffirming limits on the exercise of commercial wisdom after a plan has been cleared, PTI reported.Dismissing an appeal filed by Bank of Baroda in the insolvency proceedings of…
MUMBAI: The insolvency system slowed in the Sept 2025 quarter, with the resolution to liquidation ratio falling to 0.7x from 0.9x in Q1FY26 and FY25.Lender realisations slipped to about 25% of claims and over 77% of corporate insolvency cases are in breach of statutory timelines, even as a parliamentary panel on Tuesday proposed reforms to…
MUMBAI: Bombay high court on Thursday dismissed as misconceived a husband’s plea to be declared insolvent under the Presidency Towns Insolvency Act of 1909 and also for a stay of a 2021 Mumbai family court order to pay his wife Rs 25,000 per month as maintenance.Justice Jitendra Jain held that seeking a stay of the…
BENGALURU: Manipal Education and Medical Group India (MEMG) submitted an expression of interest (EoI) to participate in corporate insolvency resolution process (CIRP) of Think & Learn, the parent company of Byju’s.In a statement on Thursday, MEMG India said it sought inclusion in list of prospective resolution applicants and requested access to company’s financial and operational…
The Institute of Chartered Accountants of India (ICAI) on Thursday presented its suggestions to a Parliamentary panel reviewing proposed changes to the Insolvency and Bankruptcy Code (IBC), aimed at strengthening and streamlining the insolvency resolution framework.The Select Committee of Parliament, headed by BJP MP Baijayant Panda, is examining the Insolvency and Bankruptcy Code (Amendment) Bill,…
Bollywood superstar Salman Khan has finally ended his legal battle with gym equipment manufacturer Jerai Fitness Pvt Ltd. The actor reportedly withdrew his insolvency plea after both sides reached a settlement in a Rs 7.24 crore payment dispute linked to his fitness brand Being Strong. Dispute linked to Salman Khan’s fitness brand As reported by…
