The Lok Sabha on Monday passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, seeking to amend the Insolvency and Bankruptcy Code (IBC), 2016, to further streamline insolvency resolution processes and address gaps in the existing law. The Lower House had taken up the Bill, moved by Finance Minister Nirmala Sitharaman, for discussion on March…
The Bill, initially referred to a Select Committee, has been introduced to amend the Insolvency and Bankruptcy Code 2016. The Amendment seeks to reduce delays, maximise value for all stakeholders, and introduce new provisions that follow global best practices for resolving insolvency. New Creditor-Initiated Insolvency Resolution Process (CIIRP): This replaces the largely underutilised “fast-track” process…
Vedanta Limited’s stock climbs 4% after appealing against Adani Group’s insolvency plan for Jaiprakash Associates in India’s Supreme Court. Mining firm Vedanta Limited has experienced a notable surge in its share price, rising 4% to ₹666 per share on the National Stock Exchange. This increase came in the wake of the company’s decision to challenge…
Vatika’s ‘Aspirations’ project affected, interest unpaid The tribunal clarified that only Vatika’s Aspirations project is involved in these proceedings—not the whole company or its other projects. Plus, the debt was just about unpaid interest, not the principal amount. A Vatika spokesperson said this decision lets them focus on their core projects and keep delivering for…
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Applebee’s restaurant closures: See the list of doomed locations after a major franchisee went bankrupt Fast Company Read the original article here
Your favorite spot for slow-cooked riblets might be cooked. Most Read from Fast Company A number of Applebee’s Neighborhood Grill + Bar restaurants have closed their doors in the wake of mounting financial distress and declining foot traffic, according to a recent bankruptcy filing. The 10 shuttered stores, located in Florida and Georgia, are all…
Your browser does not support the audio element. New Delhi: Mining major Vedanta Limited has approached the Supreme Court of India seeking an immediate stay on the implementation of the Adani Group’s resolution plan for the insolvent Jaiprakash Associates Limited. This move escalates one of the most high-profile corporate insolvency disputes in recent years to…
NCLAT modifies insolvency order against Vatika, limiting it to the Gurgaon-based Project Aspirations. Details on the CIRP process and debt. New Delhi, Mar 30 (PTI) Providing a partial relief to NCR-based realty firm Vatika, the NCLAT has confined the insolvency proceedings against it to a specific Gurgaon-based Project Aspirations. Modifying the order passed by the…
India proposes to let financial creditors trigger insolvency bypassing tribunal Reuters Read the original article here