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NCLT admits Bhilai Jaypee Cement for insolvency

The National Company Law Tribunal (NCLT), Cuttack Bench, has admitted Bhilai Jaypee Cement Limited for corporate insolvency after it defaulted on an operational debt of over Rs 45 crore owed to a coal supplier. The order was passed on October 15, 2025, by a bench comprising Member (Judicial) Deep Chandra Joshi and Member (Technical) Banwari…

Rescheduling & Restructuring – How Could Cannabis Rescheduling Affect Bankruptcy Availability? –

Seyfarth Shaw LLP are most popular: within Compliance, Government, Public Sector and Consumer Protection topic(s) with readers working within the Business & Consumer Services and Construction & Engineering industries Discussions about the possibility of cannabis rescheduling have continued on and off for years, with recent reporting suggesting that the administration is again…

Kent builder hid bankruptcy from customer who paid for home improvements he did not complete

Wayne Miller hid his bankrupt status from a customer who he convinced to pay £30,000 for home renovations  The home improvements, which included a new kitchen and two-storey extension, were never completed despite numerous promises by Miller  Miller was handed a suspended sentence and ordered to pay compensation following investigations by the Insolvency Service  A…

Employee got Rs 13 lakh after winning wrongful termination case, but company became insolvent; Karnataka High Court orders release of Rs 13 lakh to him

On October 23, 1999, Mr. Rao started working as a customer service assistant at a company. His probation period was six months and after the probation period was over, he was confirmed in the job. Thereafter he was posted in the customer service department of the company’s Bengaluru branch. He was confirmed as a customer…

ICAI Introduces New Audit Review Standards Amid Insolvencies

The Institute of Chartered Accountants of India’s Financial Reporting Review Board (FRRB) has implemented new parameters to enhance the quality of auditing among companies. These include low audit fees, negative reserves, high leverage, and involvement in insolvency resolution processes. The parameters will be integral to reviewing corporate financials. The FRRB reviews company financial statements…