Monthly construction insolvencies exceed 300

More than 300 construction companies went into liquidation in February, newly released figures show. Data from the Insolvency Service (IS) shows that 301 construction-related firms based in England or Wales filed for various forms of insolvency, mostly creditors’ voluntary liquidation. Specialist contractors made up just over half of the total, with 157 cases. Electrical, plumbing…

Delay Beyond 45‑Day Limit under IBC Section 61: NCLAT Rejects CIRP Appeals, Rules e‑Portal Upload No Ground for Extension [Read Order]

In a recent ruling, the National Company Law Appellate Tribunal (NCLAT), Chennai Bench, dismissed appeals under the Corporate Insolvency Resolution Process (CIRP) and held that the petitions were barred by limitation under Section 61 of the Insolvency and Bankruptcy Code (IBC), observing that the appeals were filed beyond the permissible 45‑day period and that reliance on…