RBI’s deadline for bankrupt companies: Supreme Court stays insolvency proceedings against defaulters – Economic Times

New Delhi: The Supreme Court halted insolvency proceedings against defaulters in the power, sugar, shipping and textile sectors, providing relief to borrowers hours before the deadline for referring them to insolvency court expired by staying a Reserve Bank of India (RBI) circular issued in February. Bankers said the decision will delay the process at least…

ICICI Bank files insolvency plea against Jaiprakash Associates in NCLT; matter to be heard on 17 September – Firstpost

New Delhi: Leading private sector lender NCL has filed insolvency petition against Jaiprakash Associates before the National Company Law Tribunal (NCLT). The Allahabad bench of NCLT has asked ICICI bank to serve notice to its corporate debtor Jaiprakash Associates within three days and directed Jaypee group firm to file reply by September 17. If NCLT allows…