Supreme Court of India: Section 10A bar inapplicable when default predates Covid window— “Failed restructuring does not novate original loan; CIRP against power company upheld”

Court’s decision The Supreme Court of India dismissed the appeal filed by Power Trust, promoter of Hiranmaye Energy Ltd., and upheld the admission of a Section 7 application under the Insolvency and Bankruptcy Code, 2016 against the corporate debtor. The Court held that the default occurred on 31 March 2018, well before the Covid-era suspension…

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SunPower’s Liquidation Nears Conclusion as Creditors Await Final Payouts

The protracted wind-down of SunPower is approaching its final stages. Having completed a major restructuring in 2024, the remaining corporate entity now functions solely to manage the liquidation plan and resolve outstanding legal matters. A key question remains for market participants: what ultimate recovery can the company’s creditors expect? This transition effectively ends SunPower’s operational…

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Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…