Insolvency Code
Flipkart faces fresh insolvency petition as NCLT seeks response over ₹1.7 crore dues
Applabs Media Pvt Ltd said the e-commerce company owes it almost ₹1.7 crore for advertising campaigns.
1 min read9 Jun 2026India’s Insolvency and Bankruptcy Code has transformed the creditor-debtor relationship
Before the IBC, creditors had no choice but to chase resolution through a web of laws and frameworks while asset value deteriorated to nil. Ten years on, the situation has changed dramatically.
3 min read29 May 2026Forensic audits support corporate-fraud probes and IBC cases but still lack enforceable standards
Such audits are being used more and more in insolvency and corporate fraud cases, but are not subject to any legally binding audit standards in India. Given how high the stakes are, this regulatory gap needs to be tackled right away.
4 min read21 May 2026NCLAT rejects Vedanta's challenge to approval of Adani's resolution plan for Jaiprakash Associates
Vedanta's challenge to Adani Enterprises' resolution plan for Jaiprakash Associates Ltd was dismissed by the National Company Law Appellate Tribunal. The tribunal found no legal flaws in the creditors' choice, marking a significant setback for Vedanta despite its claims of offering a superior bid.
4 min read4 May 2026Bankruptcy bottleneck: 380 resolution plans approved by lenders await NCLT nod
More than 380 corporate turnaround plans are pending clearance from NCLT benches. The Supreme Court's intervention, seeking status report, reflects concerns about prolonged delays in resolution processes under the IBC, with many cases exceeding the stipulated 330-day resolution timeframe.
2 min read29 Apr 2026NCLAT reserves order in Jaiprakash Associates insolvency case
On 6 April, a Supreme Court bench, led by Chief Justice Surya Kant and Justice Joymalya Bagchi, directed the NCLAT to hear the matter urgently
1 min read22 Apr 2026JAL insolvency case: Lenders flag ‘leak’ that may have aided Vedanta bid
Following the alleged leak, Vedanta submitted a revised bid with improved net present value and equity infusion, which was rejected for missing the deadline.
2 min read20 Apr 2026IBBI proposes financial creditor nod for big deals in distressed firms
The new model was introduced under the Insolvency and Bankruptcy Code (Amendment) Act of 2026 to speed up rescue of businesses by reducing litigation from promoters of the company and to give more procedural freedom in stitching together a quick turnaround plan.
2 min read16 Apr 2026IBBI draft rules require promoters to disclose crypto, foreign assets and more in bankruptcy
Under the proposed rule, whether promoters file for bankruptcy voluntarily or are forced into it by their banks, they must now report their ownership of crypto assets, retirement funds, any assets held abroad, as well as all beneficial ownership of assets not in their name.
2 min read3 Apr 2026Scrutiny of pre-bankruptcy deals of businesses expanded: Nirmala Sitharaman
Nirmala Sitharaman explained that the ‘lookback’ period has been expanded to cover two years of pre-bankruptcy transactions leading up to bankruptcy petition being filed before the National Company Law Tribunal, the first forum of debt resolution proceedings.
2 min read1 Apr 2026Wait for it…
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