Category Archives: Liquidation

NCLT Admits Rs 2,888 Cr Insolvency Petition by Canara Bank Against Gupta Power Infrastructure, Appoints IRP [Read Order]

The National Company Law Tribunal (NCLT) Kolkata bench admitted Rs 2,888 Cr Insolvency petition by Canara Bank against Gupta Power Infrastructure, holding that when a financial creditor consortium establishes a valid default exceeding the threshold limit under Section 4 of the IBC, supported by proper authorization and undisputed evidence of debt, the Adjudicating Authority is…

Creditor-led enforcement actions on the rise

Irish corporate insolvencies remain stable as creditor enforcement actions rise sharply. Corporate insolvencies in Ireland have remained largely stable in the first half of 2025, with 407 cases recorded compared to 412 in the same period last year, representing a marginal 1% decrease. However, the nature of these insolvencies is shifting significantly, with creditor-led enforcement…

Jindal Power acquires Jaiprakash Associates with CCI approval, ETEnergyworld

Creditors are claiming a staggering ₹57,185 crore. Fair trade regulator CCI on Tuesday said it has given in-principle approval to Naveen Jindal-led Jindal Power‘s proposal to acquire debt-ridden Jaiprakash Associates, should it win a bid in the ongoing insolvency proceeding. Apart from Jindal Power, the proposals of PNC Infratech, Adani Group and Dalmia Bharat for…

Who holds the right to EBITDA during CIRP? Supreme Court leaves it open

In the BPSL case, the figures were not insignificant. According to the RP’s affidavit, EBITDA exceeded ₹1,800 crore during the CIRP period. At various points, the Committee of Creditors (CoC) indicated that this sum should be distributed among creditors. JSW Steel, whose resolution plan was ultimately approved by the CoC, contended that EBITDA was simply…

Visit Cornwall enters voluntary liquidation

“We work closely with the team, and their work and dedication have been greatly appreciated by visitors, partners, and the wider community for the last 10 years. At this time, our thoughts are with the team, and all those connected with Visit Cornwall – we recognise this is a very difficult period for them.” Read…

Why Dunzo failed to defend itself against insolvency petition

The National Company Law Tribunal (NCLT), Bengaluru Bench, on 6 August admitted Quick-commerce startup Dunzo Digital Private Limited into the Corporate Insolvency Resolution Process (CIRP). The order was passed today in response to a petition filed by Velvin Packaging Solutions Pvt. Ltd., an operational creditor, over a default of ₹2.29 crore. The tribunal, comprising Judicial…

Claims Raised After Commencement Of Insolvency Proceedings Stand Extinguished, Not Amenable To Arbitration: Delhi High Court

The Delhi High Court Bench of Justice Jyoti Singh has observed that claims which are not a part of the Resolution Plan on the date of approval, shall stand extinguished and no person will be entitled to arbitrate such claims. Put differently, post-insolvency commencement date claims which are not made a part of the Resolution…

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Charges dropped against York couple accused of defrauding community centre

All 13 charges against a WA woman accused of defrauding a Wheatbelt community centre where she worked have been dropped. In October 2023, Robyn Alix Garratt, the manager of the York Community Resource Centre (CRC), 100km east of Perth, was charged with stealing as a servant, gaining benefit by fraud and forging records from July…

IFB Agro Industries shares soar 3% after voluntary liquidation of UAE venture

Upstox Securities Pvt. Ltd.: SEBI Registration No. INZ000315837 | NSE TM Code: 13942 | BSE TM Code: 6155 | CDSL Reg No.: IN-DP-761-2024 | CIN: U65100DL2021PTC376860 | Compliance Officer: Mr. Kapil Jaikalyani. Tel No.: (022) 24229920. Email ID: [email protected] | Registered Address: 809, New Delhi House, Barakhamba Road, Connaught Place, New Delhi – 110001 |…