Vikram Solar will appeal against the NCLT order admitting an insolvency petition by Isitva Steels making a claim of ₹9.44 crore. The company disputed the debt, citing a 2019 settlement agreement. Vikram Solar is preparing to file an appeal in NCLAT against the Kolkata Bench NCLT order which admitted an insolvency petition over alleged non-payment…
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Vikram Solar Ltd on Friday (June 19) said the National Company Law Tribunal (NCLT), Kolkata Bench, has admitted an insolvency petition filed by Isitva Steels Private Limited against the company under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition relates to alleged non-payment of dues arising from civil works subcontracted in 2018…
Today’s company insolvency statistics show accommodation and food services insolvencies fell 9% month-on-month from 301 in April 2026 to 274 in May 2026, and were also down compared to the same month in 2025 (296). Saxon Moseley, partner and head of leisure and hospitality at leading audit, tax and consulting firm RSM UK, said: “The…
Jun 19, 2026 New official statistics on business insolvencies in the United Kingdom from 2015 to 2025 have been released, according to data published by the UK government on June 19, 2026. The source material covers numbers and rates of insolvencies broken down by region, industry, business age, employee count, and turnover. Insolvency Numbers and…
Liverpool-based business lobbying and networking group Downtown in Business steps up campaign for a crackdown on serial ‘phoenix companies’. Tony McDonough reports Downtown chief executive Frank McKenna. Picture by Adam Kenrick Downtown in Business (DIB) is calling on the Government to take tough action against serial ‘phoenix companies’ who it claims are exploiting current…
There was more. The filing describes a claim on the Yorkewood Apartments project that the surety says it settled for $120,000, plus claims on the “CMSC – North Tower Addition and Renovation” project, which the complaint calls the Johns Hopkins Project, resolved for $146,331 and $65,846.36. Frankenmuth also says it ran up $244,384.21 in attorneys’ and consultants’…
The National Company Law Tribunal (NCLT) Chandigarh Bench has admitted an insolvency petition against Primezone Developers Private Limited, holding that homebuyers qualify as financial creditors under the Insolvency and Bankruptcy Code, 2016 (IBC) and that the developer had committed default in respect of claims aggregating to ₹6.76 crore. The petition was filed jointly by 33…
The National Company Law Tribunal (NCLT) in Mumbai has admitted an insolvency plea filed by One97 Communications Ltd, which operates Paytm, against gaming company Fabzen Technologies Pvt Ltd over unpaid dues of more than ₹3.41 crore for digital advertising services. A bench of Judicial Member Nilesh Sharma and Technical Member Sameer Kakar held that One97…
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