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CCI approves Jindal Power’s acquisition of Jaiprakash Associates under insolvency proceedings

The Competition Commission of India (CCI) has approved Jindal Power Limited’s acquisition of debt-laden Jaiprakash Associates Limited, the Press Information Bureau (PIB) reported on Tuesday, September 30. The transaction, cleared under the corporate insolvency resolution process (CIRP) of the Insolvency and Bankruptcy Code, 2016, is seen as a key step in resolving one of India’s…

NCLAT Upholds Rejection of Section 7 Application as Default Amount was Below ₹1 Crore, Sets Aside Penalty u/s 65 [Read Order]

The National Company Law Appellate Tribunal (NCLAT) upheld the order of the Indore Bench of the National Company Law Tribunal (NCLT) rejecting a Section 7 application filed, after observing that the alleged default amount was below the statutory threshold of Rs. 1 crore under the Insolvency and Bankruptcy Code, 2016. The appellate tribunal set aside…

Insolvency stakeholders call for stronger frameworks in Nigeria

Business recovery and insolvency stakeholders have called for the strengthening of insolvency institutions to enhance practitioners’ effectiveness and align Nigeria’s frameworks with global best practices. This was made known at the 2025 Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) conference in Lagos. The two-day event focused on deepening the use of insolvency tools…