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…

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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…

NEW DELHI: The Supreme Court’s decision to revoke the resolution plan of Bhushan Power and Steel Ltd (BPSL) could burn a ₹22,000 crore hole in the consolidated turnover of JSW Steel.

BPSL, which was acquired by the Sajjan Jindal-promoted JSW Steel in 2021, earned revenue of ₹21,800 crore in FY24 and posted a total profit of ₹671 crore — 3.4 times the profit earned in the previous year. It reported its highest-ever annual steel sales of 2.96 million tonnes, up 17.5% year-on-year in 2023–24. In the first nine months of FY25, BPSL has generated ₹15,800 crore in revenue.

The setback for JSW Steel goes beyond the loss of 3.5 million tonnes per annum of production capacity and approximately ₹22,000 crore in turnover; it also…

Moneyhub, a leading UK data and analytics platform, has today announced an extension of their partnership with Experian, the global data and technology company, to introduce the innovative Credit Dashboard. This tool is designed to empower consumers with effective debt management solutions, enabling them to navigate financial challenges with greater ease and confidence. 

This collaboration offers practical and personalised financial solutions for millions of consumers facing debt issues. It also complements Experian’s recent integration of ReFi to offer consumers affordable debt consolidation options, further enhancing the suite of tools available to tackle problem debt. 

Moneyhub’s Credit Dashboard, now…

But the money was just disappearing. 

I’d managed to find another job once the first Covid lockdown eased, but then the second lockdown hit in November 2020. 

I ran up multiple overdrafts, and applied for and maxed out credits cards to pay for groceries. Only thinking about feeding my kids, I didn’t think about the mounting interest rates. I really wish these credit products wouldn’t prey on desperate people. The information on their interest rates can be unclear and confusing. 

There were always things to pay for. We needed a new washing machine and then a new dryer as both had packed in. Then there were all the normal bills – gas, electric, rent, council tax, and the rest.  

I found another job as a team…