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IBC Overrides ‘Defunct’ Companies Act Schemes; Supreme Court Restores Insolvency Proceedings Against Corporate Debtor

The Supreme Court of India has set aside an order of the National Company Law Appellate Tribunal (NCLAT) that had stayed insolvency proceedings against a Corporate Debtor due to a pending Scheme of Arrangement (SOA) under the Companies Act, 1956. A Bench comprising Justice Sanjay Kumar and Justice K. Vinod Chandran held that “judicial discipline”…

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NTPC, MAHAGENCO complete acquisition of 1,350 MW Sinnar Thermal Power plant, ETEnergyworld

NTPC said the consortium completed the acquisition on February 24, 2026, in terms of the resolution plan approved by the National Company Law Tribunal (NCLT). State-run NTPC and Maharashtra State Power Generation Company (MAHAGENCO) on Wednesday said that their consortium has completed the acquisition of Sinnar Thermal Power Ltd (STPL) under the Insolvency and Bankruptcy…