The Kerala High Court held that an order passed by the National Company Law Tribunal (NCLT) rejecting a resolution plan is appealable under Section 61 ofthe Insolvency and Bankruptcy Code, 2016 (IBC), and that the availability of such a statutory remedy bars the invocation of writ jurisdiction. The dispute arose when MMS Steel & Power…
The Delhi High Court has quashed criminal proceedings initiated under Section 138 of the Negotiable Instruments Act, 1881 (NI Act) against the former directors of a private limited company. The Court held that dishonour of cheques with the remark “ACCOUNT BLOCKED” due to ongoing insolvency and liquidation proceedings does not constitute an offence under Section…
New Delhi: Appellate tribunal NCLAT has rejected Equitas Small Finance Bank‘s appeal to initiate insolvency proceedings against Jumbo Finvest, upholding a National Company Law Tribunal order in the matter. Earlier, the Jaipur Bench of NCLT had rejected an insolvency plea against Jumbo Finvest, observing that it is a Financial Service Provider within the meaning of…
Insolvency Application against Personal Guarantor is Maintainable u/s 60(1) of IBC even in Absence of Pending CIRP against CD: NCLAT Anita Goyal vs Vistra ITCL (India) Ltd. & Anr CITATION : 2025 TAXSCAN (NCLAT) 141 The National Company Law Appellate Tribunal ( NCLAT ) bench in New Delhi has ruled that, even in cases where…
The Victorian government has confirmed it is consulting with the administrators of a collapsed Melbourne-based security firm as 1,700 jobs hang in the balance. MA Services provides security, cleaning and maintenance staff to the public sector and major retailers, including Coles, Kmart, Aldi, Amazon, Dan Murphy’s and several AFL clubs. The company, which administrators say…
Australia’s environmental not-for-profit Planet Ark goes into voluntary administration MSN Read the original article here
3 big retail chains that did not survive 2025 bankruptcies thestreet.com Read the original article here
The Parliamentary Joint Committee on Corporations and Financial Services (PJC), chaired by Senator Deborah O’Neill, has handed down its final report into the effectiveness of Australia’s corporate insolvency laws in protecting and maximising value for the benefit of all interested parties and the economy. The Committee has made some far-reaching recommendations in the Final Report,…
The Indian domestic aviation sector was rocked earlier this month when hundreds of IndiGo flights were cancelled following the implementation of new crew rostering regulations, triggering widespread disruption at major airports. Passengers faced long delays, overcrowding and uncertainty, prompting public outrage and renewed debate around operational resilience and passenger care. On social media, many travellers…
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