Precision Camshafts Limited has announced its decision to dispose of 100% shareholding in its material subsidiary by initiating insolvency proceedings. This move was decided during a board meeting held on September 8...
Mumbai NCLT allows 90-day extension of insolvency resolution for Lavasa Corp
The Mumbai bench of National Company Law Tribunal (NCLT) has allowed a 90-day extension in the ongoing consolidated corporate insolvency resolution process (CIRP) of Lavasa Corp beginning May 29. The planned city...
‘Smaaash is coming back’: Nazara Technologies acquires Smaaash Entertainment for Rs 126 crore
Gaming conglomerate, Nazara Technologies, has completed the acquisition of Smaaash Entertainment for a total of Rs 126 crore making the insolvency ridden sports entertainment entity as a wholly owned subsidiary of...
NCLAT upholds insolvency proceedings against Jaypee Cement Corporation
In a decisive move earlier this week, the National Company Law Appellate Tribunal (NCLAT) upheld the initiation of insolvency proceedings against Jaypee Cement Corporation Ltd (JCCL), rejecting an appeal filed by Alok...
NCLAT stays insolvency proceedings against Reliance Infrastructure
Reliance Infrastructure received a significant reprieve as the NCLAT stayed the insolvency proceedings initiated against it. This decision suspends the NCLT’s previous order from May 30, 2025, which admitted the...
Airline Azul Tumbles Into Bankruptcy After Vowing to Avoid It
Even as the Brazilian airline Azul SA struggled with exchange rate pressures and the lingering effects of the pandemic, top executives insisted they would do whatever they could to avoid filing for bankruptcy. “The ones...
Rs 67,000 crore recovered under IBC in FY25, marking 42% YoY jump
In the financial year 2024-25 (FY25), creditors recovered over ₹67,000 crore from companies undergoing bankruptcy proceedings. This marked the highest-ever annual recovery under India’s Insolvency and Bankruptcy Code...
BPSL liquidation: Returning ₹19,350 crore won’t be enough to compensate JSW Steel
JSW Steel , in its review petition to the Supreme Court, is expected to highlight its financial losses that were borne out of the invalidation of its ₹19,350 crore insolvency resolution plan for Bhushan Power and Steel...
RPs can now invite interim finance providers to CoC meetings – IBBI Amendments
The Insolvency and Bankruptcy Board of India (IBBI) has introduced significant changes to the corporate insolvency framework by notifying the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for...
Corporate insolvency cases fall 28% to 724 in FY2025; recoveries still low: ICRA
Fewer companies went through the insolvency process under the Insolvency and Bankruptcy Code (IBC) in financial year (FY) 2025, according to the credit rating firm ICRA. As per the ICRA, only 724 companies were admitted...
SC orders status quo on Bhushan Power liquidation
NEW DELHI: The Supreme Court of India ordered status quo on liquidation proceedings of Bhushan Power and Steel Ltd (BPSL) pending the verification of the review petition to be filed by JSW Steel. The court asked JSW...
Telefonica, TIM plan joint bid for bankrupt Brazilian carrier Oi
Telefonica Brasil SA and TIM Participações SA have expressed interest in negotiating a joint offer to buy bankrupt Brazilian carrier Grupo Oi SA , the two companies said on Tuesday in securities filings. The companies...
