The dispute with Reliance Infra dates back to April 2022, when IDBI Trusteeship Services Ltd filed a plea seeking to start a Corporate Insolvency Resolution Process (CIRP) against Reliance Infrastructure. The plea alleged a default of ₹88.68 crore as of August 28, 2018, along with interest. This default was in connection with 10 invoices that…
Anil Ambani wins big as NCLAT suspends insolvency order against Reliance Infra after… MSN Read the original article here
Home Business Anil Ambani wins big as NCLAT suspends insolvency order against Reliance Infra after… Anil Ambani-led Reliance Infrastructure stated that it has already paid the dues in full to DSPPL, and asserts that the plea was time-barred as the invoice dates back to September 2018. Anil Ambani (File) In a major relief for Anil…
Reliance Infrastructure Ltd. (RInfra) on Wednesday (June 4, 2025) said National Company Law Appellate Tribunal (NCLAT) has suspended the insolvency proceedings ordered against the company. “The NCLAT in New Delhi today suspended the National Company Law Tribunal’s (NCLT) May 30 order, admitting the company into the corporate insolvency resolution process (CIRP),” the company said in a…
The German paper manufacturer Feldmuehle GmbH has filed for insolvency proceedings. In a press statement, the company writes: “Feldmuehle GmbH, has been adversely and unforeseeably affected this current year due to the difficult situation in the energy markets, by unexpected increased energy costs and procurement prices for raw materials. During the current year, management has…
Solar cell and module manufacturer Meyer Burger Technology has announced that its German subsidiaries, Meyer Burger (Industries) and Meyer Burger (Germany), have initiated insolvency proceedings as restructuring efforts were unsuccessful. Meyer Burger stated that it had made intensive efforts to keep the sites operational during the restructuring negotiations. However, the efforts yielded no success, and…
Comment The collapse of Builder.ai has cast fresh light on AI coding practices, despite the software company blaming its fall from grace on poor historical decision-making. Backed by Microsoft, Qatar’s sovereign wealth fund, and a host of venture capitalists, Britain-based Builder.ai rose rapidly to near-unicorn status as the startup’s valuation approached $1 billion (£740 million).…
Reliance Infrastructure Ltd.’s stock jumped 13% on Wednesday after the National Company Law Appellate Tribunal suspended an order passed by the National Company Law Tribunal that admitted the company into the insolvency resolution process. The Mumbai branch of the NCLT passed that order on May 30. The plea to admit Reliance Infra into insolvency was…
AI is in the news, and everyone wants to be part of the AI revolution. So much so that Builder.AI claimed to have an AI bot that could “create any software you want.” However, the Microsoft-backed firm has now collapsed once it was revealed there was no artificial intelligence whatsoever. All the work was being…
Shares of Reliance Infrastructure surged sharply on Wednesday, June 4, climbing nearly 13 percent to touch a new 52-week high of ₹385.90 in intra-day trading. The spike came after a significant legal relief from the National Company Law Appellate Tribunal (NCLAT), which suspended an earlier order passed by the National Company Law Tribunal (NCLT) that…