Mumbai NCLT Bars Collector From Recovery Action On Shree Ram Urban Infrastructure Property Amid Insolvency Moratorium

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NCLT restrains Mumbai Collector from asset recovery on Shree Ram Urban Infrastructure during insolvency proceedings | Representational Image Mumbai: The National Company Law Tribunal (NCLT) in its recent orders have restrained the Collector and District Magistrate of Mumbai City from initiating any recovery proceedings or creating any third-party interests in the assets of Shree Ram…

NCLT admits Reliance Infrastructure for insolvency resolution process

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Photo: https://archive.nclt.gov.in/ The National Company Law Tribunal (NCLT), Mumbai has admitted insolvency plea against Reliance Infrastructure Ltd. filed by IDBI Trusteeship Services Ltd. In April 2022, IDBI Trusteeship had filed a petition for initiating corporate insolvency resolution process (CIRP) against Reliance Infrastructure, under section 9 of the Insolvency and Bankruptcy Code, alleging a default of ₹88.68 crore as…

NCLAT Upholds Insolvency Against Jaypee Cement: Rediff Moneynews

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NCLAT approves insolvency proceedings against Jaypee Cement Corp, rejecting appeals. Debt default proved; CIRP to proceed despite parent company’s restructuring efforts. New Delhi, Jun 2 (PTI) The insolvency appellate tribunal has approved the insolvency proceedings against the debt-ridden Jaypee Cement, upholding an earlier order passed by the National Company Law Tribunal (NCLT). A two-member bench…

IBBI Notifies Amendments To Streamline Corporate Insolvency Process

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New Delhi: The IBBI has notified amendments to the regulations governing corporate insolvency, aiming to streamline procedures, protect creditor interests, and encourage greater investor participation in resolution processes. The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency Resolution Process for Corporate Persons Fourth Amendment regulations, 2025 on May 26, according to a release.…

Absence Of Formal Written Agreement Does Not Preclude Establishment Of Financial Debt: NCLT Delhi

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The National Company Law Tribunal Bench of Shri Mahendra Khandelwal (Judicial Member) and Shri Atul Chaturvedi (Technical Member) the absence of a formal loan agreement does not defeat the existence of a financial debt. Documentary evidence such as tax filings (Form 26AS), TDS deductions, ledger entries, financial statements, and written acknowledgments are sufficient to establish…