Non-bank lenders ramp up court enforcement as major banks retreat, new data reveals – News Hub

Key Facts: Non-bank lenders are increasing court enforcement actions to record levels while major banks reduce their activity, particularly through 2023-2025 Overall insolvency rates continue to rise, with numbers in December 2025 exceeding 2024 levels and showing consistent upward trend since COVID The ATO remains the primary source of court actions, with continued high levels…

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Homebuyers’ Maintenance Societies, RWAs Can’t Intervene In Insolvency Process Of Developer Firm: SC

New Delhi: The Supreme Court on Thursday held that homebuyers’ societies or resident welfare associations (RWAs) ordinarily constituted for maintenance and management of common facilities in a housing project cannot intervene in the insolvency proceedings of the developer company. The judgment was delivered by a bench comprising justices JB Pardiwala and R Mahadevan. The bench…

Auditors Warn of Complete Bankruptcy at PBC Limited

Produce Buying Company (PBC) Limited The Produce Buying Company (PBC) Limited faces complete bankruptcy according to auditors who analyzed the state owned enterprise’s 2024 financial statements, marking a catastrophic deterioration from an already critical situation just one year earlier. Adom Boafo and Associates, the company’s independent auditors, issued a qualified opinion on financial statements for…

Homebuyers’ maintenance societies, RWAs can’t intervene in insolvency process of developer firm: SC

New Delhi, Jan 15 (PTI) The Supreme Court on Jan 15 ruled that homebuyers’ societies or Resident Welfare Associations (RWAs) ordinarily constituted for maintenance and management of common facilities in a housing project cannot intervene in the insolvency proceedings of the developer company. The Supreme Court on January 15 ruled that homebuyers’ societies or RWAs,…

Homebuyers’ Maintenance Societies, RWAs Don’t Have Locus Standi To Intervene in insolvency process of developer firm: SC

“The Society is not a party to the financial transaction forming the substratum of the Section 7 application. Hence, no statutory right of appeal inheres in the appellant,” it said, adding that the NCLAT’s decision absence of locus standi rests on sound legal footing. “Permitting such intervention would undermine the expeditious and structured insolvency framework…