Nclt

IBC clock stalls: Supreme Court flags NCLT's nearly two-year lag

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

Vedanta revised JAL bid after learning evaluation standing: Lenders

Lenders allege Vedanta altered its JAL bid after accessing sensitive scoring details, raising concerns over fairness in the insolvency resolution process

IBC overhaul aims to cut delays and boost recoveries: Icra report

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

NCLT issues notice on Sebi plea in Jindal Poly Films class action

Tribunal seeks responses from company, flags exit of original petitioners after share sale and considers intervention pleas in ongoing class action

Mahagun Group secures ₹225 crore from CSL Finance to speed up delivery

Mahagun Group raises Rs 225 crore from CSL Finance to accelerate construction and improve liquidity, following its recent exit of Blackstone-backed ASK Property Fund

Better cash recovery and track record kept Adani ahead in JAL race

NCLT clears Adani Enterprises' ₹15,000 crore JAL plan despite lower bid, spotlighting IBC's shift from highest offer to recovery certainty

Enabling environment: Proposed amendments to laws will facilitate business

One of the amendments proposes that the auditor or audit firms of a prescribed class of companies will not provide any non-audit services to the company or its holding or subsidiary companies

Blackstone-backed ASK Property Fund exits Mahagun's project for ₹650 cr

ASK Property Fund has exited Mahagun's Noida project with Rs 650 crore, earning a 21 per cent IRR, as the stalled development sees revival following NCLT relief

NCLAT declines Vedanta's plea to stay Adani Group's bid to acquire JAL

The NCLAT agreed to hear the matter and sought responses from the Committee of Creditors (CoC) within a week

NCLT clears Adani's ₹15K cr JAL resolution plan, rejects Vedanta challenge

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

Adani Enterprises gets NCLT nod for Jaiprakash Associates resolution plan

Adani Enterprises was identified as the successful resolution applicant last year

Govt moves NCLAT against NCLT nod to Ashdan's ₹900 crore Rolta plan

The government has moved the appellate tribunal NCLAT, against the order passed by the NCLT, in which it approved a Rs 900 crore resolution plan by Ashdan Properties for the debt-ridden Rolta India. Challenging the approved resolution plan, the centre said only Rs 10 lakh of a token amount has been allocated for the government and the statutory authorities, whereas the Corporate Debtor (Rolta) owed a total sum of Rs 5,949.95 crore. Against admitted government/statutory claims of Rs 179.19 crore, this allocation constitutes an illusory recovery of only 0.06 per cent, said the petition filed by Union of India through Department of Telecommunications (DoT), according to the petition filed by Shashank Bajpai, Central Government standing Counsel. A claim of Rs 469.09 crore has been made by DoT against Rolta India, on account of the unpaid license fee for FY 2005-06 and 2006-07. The Mumbai bench of the National Company Law Tribunal (NCLT) on December 15, 2025, approved a Rs 900 crore ...

FinMin asks banks to step up efforts to reduce delays in IBC cases

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

NCLT sets up panel to assess progress of projects under Jaypee Infratech

The National Company Law Tribunal (NCLT) has appointed a two-member committee to assess the progress of construction of projects of Suraksha Group-controlled Jaypee Infratech and submit a comprehensive status report before it. The Corporate Insolvency Resolution Process (CIRP) against Jaypee Infratech Ltd (JIL) was initiated on August 9, 2017. On March 7, 2023, Suraksha Group's bid was approved by the insolvency tribunal. However, buyers are now complaining of inordinate delays in completion of the project. A two-member Delhi-based principal bench of the NCLT has also taken note of the "anguish of homebuyers" and directed the committee to look into their grievances. The NCLT direction came over the application and affidavits filed by the flatbuyers of Jaypee Infratech. "Without prejudice to the contentions raised in this application and various reports, replies affidavit filed which in order to enable anguish of homebuyers' before us, in the interregnum, we are inclined to appoint

NCLT's Jindal Poly ruling marks rare activation of class-action law

NCLT's admission of a minority shareholders' class action against Jindal Poly Films revives Section 245, signalling a shift in judicial approach to corporate accountability

NCLT admits class action by minority shareholders against Jindal Poly Films

NCLT admits minority shareholders' class action against Jindal Poly Films, saying allegations of prejudicial conduct merit detailed adjudication

Insolvency tribunals may take 10 years to dispose of existing cases: Survey

The Economic Survey warns India's insolvency tribunals could take nearly a decade to clear pending cases, flagging long delays as a key risk to the IBC regime

RPs attempting to undermine orders face contempt, says NCLAT Chennai

The Chennai Bench of the NCLAT has initiated suo motu contempt proceedings against a resolution professional, warning that attempts to neutralise interim orders undermine institutional authority

SC agrees to examine NCLT's power to transfer cases outside state

The Supreme Court on Monday agreed to examine the Gujarat High Court judgement which ruled that the National Company Law Tribunal cannot transfer a pending petition to another NCLT bench outside the state. A bench comprising Chief Justice Surya Kant and Justice Joymalya Bagchi agreed to examine the scope of the NCLT President's power to transfer cases across NCLT benches in different states. The controversy stems from Rule 16(d) of the NCLT Rules, 2016, which allows the NCLT President to "transfer any case from one Bench to another Bench when the circumstances warrant". The Gujarat High Court, in its recent order, held that this power is strictly intra-state. The High Court said that the Tribunal President cannot "alter or extend" territorial jurisdiction established by the central government, meaning that cases cannot be moved from one state to another. The top court "prima facie doubted" the stand and gave a hypothetical example that if a member must recuse at a location with on

NCLT approves Ambuja Neotia's plan to revive Usshar project in Kolkata

The NCLT has approved a resolution plan submitted by Ambuja Housing and Urban Infrastructure Company Ltd (AHUICL) to take over and complete the stalled Usshar residential project at Batanagar near Kolkata, a company statement said on Sunday. The decision by the Kolkata bench of the National Company Law Tribunal (NCLT) marks a breakthrough in the "parcel-wise" resolution of the debt-ridden Riverbank Developers Private Ltd (RDPL), the original promoter of the 223.8-acre Calcutta Riverside township. The Usshar project had been in a state of limbo for several years with no progress in construction, leaving hundreds of homebuyers in uncertainty. Ambuja Neotia, which was previously associated with the project restricted to only management consultancy, has now committed to completing the remaining construction and handing over the residences to the buyers. Under the terms of the court-approved plan, AHUICL, a subsidiary of the Ambuja Neotia Group, will acquire the 9.4-acre parcel dedicate