insolvency case

A PIL petitioner has informed the Supreme Court that while officials of Anil Dhirubhai Ambani Group (ADAG) companies are being arrested, the main perpetrator in the alleged Rs 40,000 crore loan siphoning case remains untouched. The Solicitor General cited new facts for probe delays.

The Supreme Court has taken suo motu action, highlighting severe infrastructure and vacancy issues plaguing the National Company Law Tribunals (NCLT). These deficiencies are causing significant delays in crucial insolvency and bankruptcy cases, potentially undermining the Insolvency and Bankruptcy Code's objectives. The court emphasized the urgent need for immediate remedial measures to prevent further frustration of the IBC's purpose.

Every week TOI+ subscribers send in legal questions and our panel of leading experts offers well-considered, practical, and actionable opinions on every query. From property disputes to inheritance matters, divorce queries to income tax issues, My Lawyer connects you directly with experts you can trust

Every week TOI+ subscribers send in legal questions and our panel of leading experts offer well-considered, practical, and actionable opinion on every query. From property disputes to inheritance matters, divorce queries to income tax issues, My Lawyer connects you directly with experts you can trust

Thousands of homebuyers in Haryana face years of delay as Piyush Group projects remain unfinished. Allegations suggest buyer funds were diverted for new land acquisitions, with promoters reportedly transferring project assets to family during insolvency. The Enforcement Directorate has filed a chargesheet and attached properties worth Rs 944 crore.

Every week TOI+ subscribers send in legal questions and our panel of leading experts offers well-considered, practical, and actionable opinions on every query. From property disputes to inheritance matters, divorce queries to income tax issues, My Lawyer connects you directly with experts you can trust

In a surprising twist, Justice K.V. Viswanathan of the Supreme Court opted to recuse himself from a case that had reached the judgment reservation stage. Upon reflection, he realized his prior role in representing the petitioner, Alchemist Asset Reconstruction Company, throughout his distinguished legal career.

The Lok Sabha has approved the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, a move lauded by Finance Minister Nirmala Sitharaman for revitalizing India's banking sector. The amendments aim to expedite case admissions and curb system misuse, building on the IBC's success in resolving over half of stressed assets and improving corporate governance for rescued firms.

The insolvency resolution of Jaiprakash Associates Ltd. is embroiled in a dispute over the approval of Adani Enterprises' bid over Vedanta's higher offer. Vedanta alleges procedural unfairness and a "commercial conspiracy," challenging the Committee of Creditors' reliance on "commercial wisdom" over value maximisation.

Every week TOI+ subscribers send in legal questions and our panel of leading experts offers well-considered, practical, and actionable opinions on every query. From property disputes to inheritance matters, divorce queries to income tax issues, My Lawyer connects you directly with experts you can trust

A Bench of Justice J.B. Pardiwala and Justice R. Mahadevan delivered the judgment while deciding appeals arising from insolvency proceedings initiated against Takshashila Heights India Private Limited, the developer of the real estate project Takshashila Elegna in Ahmedabad.

Finance Minister Nirmala Sitharaman has introduced significant amendments to the Companies Act, aiming to decriminalize procedural defaults and boost flexibility in share buybacks. The proposed changes also introduce new executive compensation instruments and streamline merger processes. Special benches for the National Company Law Tribunal are planned, alongside relaxations for small companies regarding CSR requirements.

Every week TOI+ subscribers send in legal questions and our panel of leading experts offers well-considered, practical, and actionable opinions on every query. From property disputes to inheritance matters, divorce queries to income tax issues, My Lawyer connects you directly with experts you can trust

The government has reclaimed prime Delhi land worth Rs 410 crore from news agency UNI after 46 years due to non-compliance with allotment terms. The Delhi High Court upheld the eviction, stating that a private entity's acquisition post-insolvency doesn't excuse decades of non-performance. This move sets a precedent against unauthorized land transfers.

News agency UNI's central Delhi office has been sealed. This follows the Delhi High Court's dismissal of UNI's plea against an eviction order. The court noted UNI failed to fulfill land allotment conditions for 45 years. Valuable public land was held hostage by the licensee. The cancellation of the allotment was justified.

Hero Electric Vehicles Pvt. Ltd. has been ordered for liquidation by the NCLT after insolvency resolution efforts failed. No resolution proposal secured the necessary 66% creditor approval, leading to the tribunal's decision under the IBC. The company's insolvency proceedings began in December 2024.

Every week TOI+ subscribers send in legal questions and our panel of leading experts offers well-considered, practical, and actionable opinions on every query. From property disputes to inheritance matters, divorce queries to income tax issues, My Lawyer connects you directly with experts you can trust

Every week TOI+ subscribers send in legal questions and our panel of leading experts offers well-considered, practical, and actionable opinions on every query. From property disputes to inheritance matters, divorce queries to income tax issues, My Lawyer connects you directly with experts you can trust