Is it time to revisit the Insolvency and Bankruptcy Code?

On, August 2, 2017, the National Company Law Tribunal (NCLT) approved India’s first resolution plan, that of Synergies-Dooray Automotive Ltd, under the newly enacted Insolvency and Bankruptcy Code (IBC). The insolvency plea of the Hyderabad-registered automotive spare parts manufacturer, which made aluminium alloy wheels for global automakers, was admitted in the NCLT on January 23,…

Liquidator Can’t Direct Claimant To Approach NCLT Without Accepting Or Rejecting Claim, Amounts To Serious Procedural Lapse: NCLT Kochi

The National Company Law Tribunal (NCLT), Kochi Bench of Shri Vinay Goel (Judicial Member) and Smt. Madhu Sinha (Technical Member) has held that once claims are filed before the Liquidator, the Liquidator is obligated under Section 40 of the IBC to either accept or reject them. The Liquidator cannot direct the claimant to approach the…

Corporate insolvency trends in South Africa

By PwC PwC’s Global insolvency year in review 2024 presents a detailed analysis of insolvency trends across major global economies. While the report includes Africa-focused content developed by PwC Africa colleagues – covering South Africa, Ghana and Kenya – the following summary highlights the key insights related to South Africa. The South African economy has…

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IFX Payments May Terminate £3M Argentex Acquisition on Insolvency Grounds — TradingView News

IFX Payments said today (Monday) it’s considering pulling out of its takeover bid for foreign exchange (FX) broker Argentex Group, just days after the struggling British currency firm appointed administrators due to funding problems. IFX Payments May Walk Away From Argentex Deal After Administration The payments company issued a statement saying Argentex entering administration is…

Business insolvency levels fell by almost 8.4% in June

Latest figures from the Insolvency Service have shown that the number of registered business insolvencies in England and Wales decreased by 8.4% to a total of 2,043 in June compared to May 2025’s total of 2,230, and decreased by 15.9% compared to June 2024’s figure of 2,430. The business insolvencies consisted of 332 compulsory liquidations,…

Big relief to Anil Ambani in Rs 920000000 case, NCLAT stays insolvency proceedings against…, after full payment to…

Home Business Big relief to Anil Ambani in Rs 920000000 case, NCLAT stays insolvency proceedings against…, after full payment to… IDBI Trusteeship had moved NCLT against Anil Ambani’s Reliance Infrastructure, but now NCLAT stays insolvency proceedings against the company. Anil Ambani (File) Reliance Infrastructure Ltd announced on Friday that the appellate tribunal NCLAT has halted…

Paying “Advance” Against Property Is A Commercial Transaction, Qualifies As Financial Debt U/S 5(8)(f) IBC: NCLT New Delhi

The National Company Law Tribunal, New Delhi Bench-IV, comprising Manni Sankariah Shanmuga Sundaram (Member-Judicial) and Atul Chaturvedi (Member-Technical), has admitted an application u/s 7 of the IBC seeking initiation of the CIRP against the corporate debtor. The tribunal held that the amount advanced against property can be treated as a “financial debt” u/s 5(8) of…