Insolvency And Bankruptcy Code

The Supreme Court has taken suo motu cognisance of delays in NCLT approvals, warning that prolonged timelines could undermine the objectives of the Insolvency and Bankruptcy Code

India's decade-old insolvency system is shifting its focus from lenders to becoming a lifeline for the ordinary citizen - the homebuyer

Top court raises concerns over prolonged pendency of resolution plan approvals, asks NCLT and IBBI to furnish nationwide data on delays and backlog

TVS Supply Chain Solutions has settled its debt dispute with ZTE Telecom India and withdrawn its appeal in NCLAT against an order that rejected insolvency proceedings against the telecom gear manufacturer. Earlier this week, TVS Supply Chain counsel informed the National Company Law Appellate Tribunal (NCLAT) about the settlement and requested withdrawal of the appeal. A two-member NCLAT bench comprising Chairperson Justice Ashok Bhushan and Member (Technical) Barun Mitra allowed the withdrawal for the plea. "Counsel for the appellant (TVS) submits that the matter has been settled between the parties and he may be permitted to withdraw this appeal. Permission is granted," said NCLAT. In October last year, a Chandigarh-based bench of the National Company Law Tribunal (NCLT) had dismissed the insolvency plea filed by TVS Supply Chain after observing a pre-existing dispute between the parties. NCLT in its order had said that the debt claimed by TVS Supply Chain was disputed and unde

Vedanta has challenged Adani Group's JAL resolution plan at NCLAT, alleging flawed and opaque CoC scoring that undermined value maximisation under insolvency rules

IBC amendments introduce a creditor-led fast-track insolvency route, tighten timelines and reduce procedural bottlenecks to improve recoveries and speed up resolutions

Finance and Corporate Affairs Minister Nirmala Sitharaman on Monday said in the Lok Sabha that the Insolvency and Bankruptcy Code (IBC) has been a main and very crucial factor in improving the health of the country's banking sector, including recovery of non-performing assets. Piloting a bill for further amending the IBC in the Lok Sabha, the minister stressed that companies have been doing well and their corporate governance practices have also improved after coming out of the insolvency resolution process. She made the remarks while replying to the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, as reported by the Select Committee. The Bill has proposed 12 amendments to the IBC, which came into force in 2016. The IBC has been a main and very crucial factor in improving the health of the country's banking sector, Sitharaman said, adding that more than half of the NPAs (Non-Performing Assets) have been recovered by the banks through the resolution process. On August 12, 202

Government adopts select committee proposals including NCLAT timelines and cross-border insolvency reforms as part of a broader overhaul of the Code

The National Company Law Appellate Tribunal (NCLAT) has dismissed the appeals filed by BSE, where the leading bourse challenged the power of the NCLT to defreeze the Demat accounts of businesses undergoing insolvency resolution and liquidation process. A two-member NCLAT bench said the National Company Law Tribunal (NCLT) has the jurisdiction under section 60 (5) of the Insolvency & Bankruptcy Code (IBC) to entertain applications for defreezing of the Demat accounts during insolvency and pass a direction also. "...the impugned orders have been passed in valid exercise of such jurisdiction," the NCLAT said while setting aside the two petitions filed by BSE. BSE had contended that the NCLT does not have any jurisdiction under Section 60 (5) of the IBC Code to adjudicate on the issues, which are within the Securities Law Framework and Sebi Circulars. The issues pertain to two companies - Future Corporate Resources and Liz Traders and Agents - where their Demat accounts were frozen by

NCLAT allowed Adani Enterprises' JAL resolution plan to proceed while refusing interim relief to Vedanta, with execution subject to final outcome of the appeal

Insolvency appellate tribunal NCLAT has exempted IL&FS Group companies -- categorised as 'red' and 'amber' -- from corporate social responsibility (CSR) on account of interest expenses accrued on their loan amount. The order will benefit around 50 'amber' and 'red' companies of the debt-ridden IL&FS Group, which are protected under the moratorium granted by the NCLAT from its order dated October 15, 2018. These 'red' and 'amber' entities have not been accruing interest on their outstanding debts, resulting in such companies showing notional profits in their books of accounts under Section 198 of the Companies Act. Such notional profits have led to such companies liable to comply with CSR obligations under Section 135 of the Act. IL&FS Group moved an application last year before NCLAT to correct this, seeking exemption for entities from compliance with CSR obligations. A notice was issued to the government on the application by IL&FS. A two-member bench, which also ...

NCLT approves Adani Enterprises' Rs 15,000 crore resolution plan for Jaiprakash Associates, dismissing Vedanta's objections and paving the way for takeover

The IBC was designed to address collective action problems and prevent a race for enforcement that destroys going-concern value

Union Cabinet clears amendments to IBC, Companies Act and LLP Act to ease compliance, strengthen insolvency processes and improve ease of doing business

At a review meeting, the finance ministry directed public sector banks to minimise adjournments and speed up CIRP filings, aiming to accelerate NCLT admission and resolution timelines

The proposed changes will impart greater transparency and operational clarity to the insolvency resolution process, which in turn is expected to reduce delays

The insolvency estate encompasses enforceable rights and interests, no less than ownership of property

IBBI's discussion paper recommends detailed CoC deliberation records, mandatory going-concern assessments and clarified rules on delayed claims to improve IBC transparency and discipline

Supreme Court says telecom spectrum cannot be treated as a corporate asset under IBC, a move bankers say will dent recoveries in Aircel and RCom cases

The Supreme Court ruled that telecom companies cannot use insolvency law to delay or restructure licence and spectrum dues, saying spectrum is a public resource, not a company asset