IBBI Mandates New Disclosure Templates for Insolvency

The Insolvency and Bankruptcy Board of India (IBBI) has taken a decisive step toward fortifying the integrity of corporate insolvency proceedings. On 6 November 2025, it released a Discussion Paper proposing mandatory declaration templates for beneficial ownership and Section 32A eligibility, marking a shift from discretionary disclosures to a standardized, verifiable framework. This move directly…

NCLT Approves Resolution Plan for Dunnimaa Engineers Submitted by Amphitrite Subsea [Read Order]

The National Company Law Tribunal (NCLT), Mumbai bench has approved the resolution plan submitted by Amphitrite Subsea Private Limited for the revival of Dunnimaa Engineers and Divers Enterprises Private Limited, which was undergoing Corporate Insolvency Resolution Process (CIRP) since November 2022. The CIRP was initiated on 24.11.2022 by Omkara Asset Reconstruction Private Limited, the Financial…

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