Last Updated:May 16, 2025, 17:14 IST

Vodafone Idea has said it may be compelled to approach the National Company Law Tribunal (NCLT) for insolvency proceedings if additional help is not extended, says a report.

Vodafone Idea also flagged the potential risk to the government’s 49% equity stake in the company. (Reuters File Image)

Struggling telecom operator Vodafone Idea (Vi) has issued a fresh warning to the Indian government, stating it will be unable to continue operations beyond FY2025-26 without further state support, CNBC-TV18 has reported. The company has said it may be compelled to approach the National Company Law Tribunal (NCLT) for insolvency proceedings if additional help is not extended.

Despite a Rs 26,000 crore equity infusion…

Liquidators have been appointed for Readie Management Limited (RML), the parent company of collapsed contractor Readie Construction.

Jacob Beake and Gavin Savage of Begbies Traynor were named in a document filed on the Companies House website yesterday (15 May).

Travelers Insurance Company had filed a winding-up petition in the High Court against RML, and in April last year, Insolvency and Companies Court judge Catherine Burton issued a winding-up order.

The judge also granted an order to shut down Readie Trustee Ltd, the employee ownership trust for Readie Construction and the 100 per cent shareholder in RML.

Construction News contacted Gateley, which represented Travelers Insurance Company in the winding-up petition, for further…

About 30 Russian airlines, accounting for 26% of domestic passenger traffic, may go bankrupt in 2025, Russia’s Izvestia newspaper reported on Nov. 13.

Since the full-scale invasion began, most Russian airlines have come under Western sanctions. As a result, in 2022, several industry players stopped making lease payments.

Russian airlines fear a deterioration in their financial condition and the revocation of their operator’s certificates due to accumulated debts for leasing foreign aircraft, the media reported.

In 2025, the government allowed the companies to write off their debts, but these amounts will be subject to a 25% income tax. This financial burden may force them to close their operations, according to…

A bench of NCLT judicial member Shammi Khan and technical member Sanjeev Kumar Sharma instructed notice to be served to Gensol on all modes and list the matter for hearing on June 3, according to a report by Bar & Bench.

Ireda had sought insolvency proceedings against Gensol Engineering over a default of Rs 510 crore, according to an exchange filing from the power financier on Wednesday. The plea has been filed under Section 7 of the Insolvency and Bankruptcy Code.

The notice comes close on the heels of cofounders Anmol Singh Jaggi and

The Court of Appeal also affirmed a finding by the High Court in Kuala Lumpur that the government could not be faulted for the bank’s mistake.

“The appeals by the bank and the company (Ten Jing Enterprise Sdn Bhd) are dismissed as they have no merit,” said Justice Ahmad Kamal…

Against the backdrop of global economic instability, the number of insolvencies worldwide recorded a 19% increase in 2024 compared to the previous year, according to the latest Atradius report “Insolvencies normalise, but trade war brings new risks”, published in April 2025. The analysis, covering 29 global markets, highlights a trend toward a return to pre-pandemic levels, albeit with additional risks stemming from the ongoing trade conflict. Romania is no exception: with an insolvency index of 111 compared to 2019, the country remains in line with trends observed in most European nations, yet the figures point to a growing fragility in the business environment.

“This increase in…

Thousands of Orange County residents saddled with medical debts have been granted a “no-strings-attached gift,” according to a national nonprofit that partnered with the county to forgive bills totaling about $472.5 million.

Over 310,000 people received notice in the past two weeks that a medical debt of theirs had been cancelled, officials said.

“For our family, it represents hope that the majority of Orange County Florida commissioners are truly listening [and] getting funds to those most impacted by poverty,” Eimear Roy, 57, said in a text to the Orlando Sentinel.

Her canceled debt was modest, $200, but appreciated and enough to cover a monthly utility bill, she said.

Roy was among a group of community advocates who appealed…

Vodafone Idea has said that it cannot operate beyond FY26 without the government’s support. This is as per a report by CNBC-TV18. The company reportedly said that if it does not get support from the government, it will go to the National Company Law Tribunal (NCLT) for insolvency.

Vodafone – Ideas owes the government Rs 1.95 lakh crore for the spectrum dues. If Vodafone-Idea goes for insolvency, the government will have no recovery of its Rs 1.18 lakh crore dues for the spectrum sales.

After the equity conversion, the government has a 49 percent stake in Vodafone-Idea.

The company has said that it has received no support from the banks despite the government’s equity conversion and Rs 26000 crore equity infusion.

Indian Renewable Energy Development Agency Ltd. filed an insolvency petition against Gensol Engineering Ltd. before the National Company Law Tribunal (NCLT), Ahmedabad. Following this, the NCLT issued notices to Gensol and scheduled the hearing for June 3.

IREDA filed a petition against Gensol on May 14 under Section 7 of the Insolvency & Bankruptcy Code. It claimed a default of over ₹510 crore.

During Friday’s hearing, IREDA requested the NCLT to appoint an Interim Resolution Professional (IRP) for Gensol, citing SEBI’s interim order against the company.

According to IREDA, the company is clueless, moreover, directors have walked out post the SEBI order. Gensol has projects worth crores of rupees in the pipeline and somebody…

A Bench of NCLT comprising Mahendra Khandelwal (Judicial Member) and Subrata Kumar Dash (Technical Member) heard the matter and directed FIITJEE to file its response. The case has been posted for further hearing on July 10, 2025.

Agarwal, who held a senior position at FIITJEE, has approached the tribunal under Section 9 of the Insolvency and Bankruptcy Code, 2016, as an operational creditor.

According to him, the company failed to clear his dues from FY 2023-24 and 2024-25 despite repeated demands. He was thus constrained to file the plea. Though FIITJEE claimed Agarwal was a Key Managerial Personnel (KMP), he denied the same in the NCLT. The tribunal is now expected to analyse if there was a pre-existing dispute between FIITJEE and…

SAVANNAH, Ga. (WTOC) – Broughton Partners offers legal marketing services, but they’ve also been helping people in a vulnerable time in their lives. Over the years, their campaigns have helped get eliminate 45 million dollars in medical debt.

Broughton Partners Chief Revenue Officer Scott Crawford joined Morning Break to talk about the program. He says it’s made possible by Undue Medical Debt and community members. When people donate $10, $1,000 goes toward relieving debt.

Residents don’t need to apply. Recipients are surprised with a letter in the mail saying their debt has been paid off and credit restored.

If you would like to learn more or donate, visit unduemedicaldebt.org.

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