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…

Corporate exit regime: Companies are born, they grow—and, sometimes, they must bow out. Founders rarely plan for failure, yet a clean, predictable exit is as vital to capitalism as easy incorporation. When insolvency drags on, investment freezes, workers are stranded and public confidence withers—witness the drawn-out collapses of WeWork in 2024 and crypto exchange FTX a year earlier. Conversely, fast, fair winding-up rules recycle capital and talent, letting fresh ventures sprout from the ashes. That is why a credible exit policy sits at the heart of any robust “ease of doing…

LONDON: The death of Pope Francis and global aid cuts led by the US could complicate the work of a group of experts assembled by the Vatican to bring debt relief and a fairer financing system to the world’s poor.

Developing countries are already grappling with shrinking concessional financing and difficulty accessing bond markets due to the selloff triggered by US President Donald Trump’s sweeping…

Rejecting the company’s request not to overturn the National Company Appellate Tribunal’s (NCLAT) order since it had complied with the resolution plan, Justices Trivedi and Sharma remarked: “A situation of fait accompli cannot be permitted to be created in the court to frustrate the proceedings, more particularly when the corporate insolvency resolution (CIR) proceedings had ex facie stood vitiated on account of non-compliance of the mandatory provisions of law and on account of the misuse of the process of law by the parties.”

Time is a crucial factor in the scheme under the IBC. However, in the present case, the mala fide and dishonest intention on the part of JSW undermined the IBC’s main objective of completing the entire…

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Religious leaders from Africa have intensified their call for cancellation of the continent’s crippling private debt and fundamental reforms to the global financial system. In a letter to the UK Foreign Secretary and the Treasury, African Anglican Bishops warned that the unsustainable debt has inflicted “immense suffering” to millions in the continent. Inspired by the Biblical year of Jubilee – where debts are periodically cancelled…