Given the recent spate of aid cuts for developing countries and rising tariffs, IMF downgraded its global growth forecast from 3.3 per cent (that was announced in January 2025) to 2.8 per cent for 2025.

IMF also projected that global public debt will increase by 2.8 per cent, reaching 95.1 per cent of global gross domestic product (GDP) in 2025. This is projected to reach 100 per cent of global GDP by 2030. 

IMF’s Managing Director Kristalina Georgieva acknowledged the uncertainty around the global economy, while hoping that trade negotiations can provide some relief on the tariffs question. Indermit Gill, chief economist at the World Bank, highlighted how trade uncertainties are compounding rising debt and sluggish growth.

The…

Another Anil Ambani group firm – Reliance Home Finance – is staring at insolvency proceedings after a financial creditor, Invent Assets Securitisation & Reconstruction Private Limited, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, the company said in an exchange filing on Monday. The petition was filed before the National Company Law Tribunal (NCLT), Mumbai bench. The claim amount in the petition is Rs 7.80 crore (including interest).

Reliance Home Finance plans to seek legal advice and take appropriate steps to protect its interests in this matter. The financial implication on the company is currently uncertain and will depend on the final outcome of the proceedings and any subsequent…

Invent Assets Securitisation & Reconstruction Private Limited, a financial creditor of the Reliance Housing Finance Limited has filed a Petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, against the Company before the National Company Law Tribunal, Mumbai bench for a claim amount of ₹ 7,80,98,017/- (including interest).

Section 7 of the IBC outlines the initiation of the Corporate Insolvency Resolution Process (CIRP) by a financial creditor against a corporate debtor when a default has occurred.

NCLT will have to ascertain the existence of a default from the records of an information utility or based on other evidence…

You don’t have permission to access “http://www.business-standard.com/companies/news/jsw-jindal-steel-bpsl-bhushan-power-resolution-supreme-court-government-125050500372_1.html” on this server.

Reference #18.d1672817.1746428946.6d7c1691

https://errors.edgesuite.net/18.d1672817.1746428946.6d7c1691

Today’s global economic turmoil is not just about trade. International Monetary Fund (IMF) managing director Kristalina Georgieva has warned that growing economic uncertainty and financial market stress pose serious threats to developing countries.

The danger is particularly acute for highly indebted economies, which are now facing weaker growth prospects and reduced financial support from the United States and other donor countries. In February, the IMF estimated that nearly half of the lowest-income countries were at risk of debt distress, at which point they may no longer be able to meet their debt obligations. That number is expected to rise as conditions continue to deteriorate.

Compounding the crisis, the world’s poorest…

The UK Supreme Court’s recent decision in El-Husseini and another v Invest Bank PSC [2025] UKSC 4 has clarified the circumstances in which section 423 of the Insolvency Act 1986 (the Act) provides protection against attempts by debtors to “defeat their creditors and make themselves judgment-proof.” This is a critical decision for insolvency practitioners, any corporate or fund which is involved in distressed deals and beyond to acquirers who were not aware they were dealing in distressed assets. It is potentially good news for the former, improving or fine-tuning weapons deployed for the benefit of creditors. It is potentially awkward news for the latter, who may have to look rather more broadly at insolvency issues…

Food delivery aggregator Zomato may face an insolvency plea as one of its operational creditors has moved the National Company Law Tribunal (NCLT), seeking restoration of its previous petition. Nona Lifestyle Pvt Ltd, an operational creditor, has moved NCLT requesting to restore an insolvency plea filed by it earlier against Zomato Ltd under Section 9 of the Insolvency & Bankruptcy Code in 2024.

In 2024, NCLT had dismissed it due to non-prosecution and now Nona Lifestyle has requested to restore its old petition.

It has filed an application under Rule 11 of NCLT Rules, 2016, which provides the tribunal inherent power that can also be used for…