The Companies Act, 2013 introduced a transformative institutional framework for the regulation, governance, and adjudication of corporate affairs in India. Central to this reform was the creation of dedicated quasi-judicial bodies: the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT). These bodies were established to streamline corporate dispute resolution and…
The Insolvency and Bankruptcy Board of India (IBBI) has amended the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP), which took immediate effect and has been published in the official gazette. The updated rules allow for improved participation and performance of the resolution professional, committee of creditors (CoC) and financial creditors. Resolution professionals…
Luxury builder heading to liquidation The West Australian Read the original article here
Auckland-based food company LI Creamery Limited, formerly known as Little Island Limited, has been placed into liquidation. Following a special resolution passed by its shareholders, the decision was made under section 241(2)(a) of the Companies Act 1993, taking effect from 9.00 am on the 13th of June 2025. Chartered accountants and licensed insolvency practitioners Raymond…
As we close out the 2024–25 financial year, now is the perfect time to go beyond the numbers and take a broader view of your clients’ financial health. Over the past 12 months, we’ve seen a clear shift in the insolvency and restructuring landscape—one that you need to keep front of mind heading into 2025–26.…
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) held that the National Company Law Tribunal can’t compel the corporate debtor to retain the same liquidator once a valid board resolution has been passed for their replacement…
Introduction In a judgment that may well redefine the contours of finality in insolvency resolution under India’s insolvency regime, the Supreme Court, in Kalyani Transco v. Bhushan Power and Steel Ltd.1, directed the liquidation of a corporate debtor more than five years after its resolution plan had been approved and implemented. The decision not only…
PHAXIAM Therapeutics Announces Judicial Liquidation and Delisting Business Wire Read the original article here
A failed multimillion-dollar trucking company – and the workers left without wages Stuff Read the original article here
The Principal Bench of the National Company Law Appellate Tribunal (NCLAT), has rejected an appeal filed by Aditya Bhatnagar, former promoter and shareholder of Xyron Technologies Ltd., challenging the admission of a Section 7 insolvency petition against the company by the National Company Law Tribunal (NCLT). In a detailed order dated May 30, 2025, the…