Insolvency Guardian Media Centre
Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Insolvency Ordered Against BluSmart’s Tech Arm
The order passed by the National Company Law Tribunal (NCLT) in Ahmedabad is given to one of the subsidiaries of the all-electric ride-hailing corporation, BluSmart. It has formally placed Blu-Smart Mobility Tech Private Limited in the Corporate Insolvency Resolution Process (CIRP). This case is based on a petition by one of the operational creditors on unpaid dues of ₹5.84 crore.
This order is acting as a suspension of the board of directors of the subsidiary. Instead, the NCLT has filled in the position with an Interim Resolution Professional (IRP) by the name of Mr. Pawan Kumar Goyal. IRP has now been mandated to assume full control of the company assets, finances…
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Reliance Communications Limited ( (IN:RCOM) ) has provided an update.
Reliance Communications Limited has announced the scheduling of its 66th Committee of Creditors meeting on October 27, 2025, as part of its ongoing corporate insolvency resolution process. This meeting is crucial for stakeholders as it continues to shape the future of the company under the oversight of the Resolution Professional appointed by the National Company Law Tribunal.
More about Reliance Communications Limited
Reliance Communications Limited operates in the…
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Ansal Properties Updates on Fernhill Project Creditors’ Meeting Amid Insolvency Process The Globe and Mail
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Reliance Communications Limited (RCOM), which is currently undergoing a corporate insolvency resolution process (CIRP), has disclosed that the Bank of Maharashtra has classified the company’s loan account as ‘fraud’. Reliance Communications received the formal letter detailing the classification, dated October 4, 2025, on October 24, 2025.
The classification relates to credit facilities extended by the bank’s Fort Branch in Mumbai. The company has two accounts mentioned: a Debit Balance in a Current Account with an outstanding balance of Rs 488.78 Crores as of September 30, 2025 (excluding interest), and a Letter of Credit facility with a limit of Rs 500.00 Crores and an outstanding balance of Rs 0.00.
Details of…
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TEHRAN
Iran declared one of the country’s largest private banks bankrupt with its assets absorbed by the state, official media reported on Oct. 25, in a rare move in the country grappling with international sanctions.
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Founded in 2012, Ayandeh Bank had a network of 270 branches across the country, including 150 in the capital Tehran alone. But it had more recently been crippled by debt, with accumulated losses amounting to the equivalent of about $5.2 billion and roughly $2.9 billion in debts.
On Oct. 25, queues of customers could be seen outside a former Ayandeh Bank branch in Tehran, with police also present.
The state-owned Melli Bank has absorbed the assets of the now-defunct Ayandeh Bank,…
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Aler (Nalgonda): A shocking incident came to light in Aler town when a family, facing severe financial distress due to gambling losses in a Goa casino, was allegedly locked inside their house by moneylenders demanding repayment.
The ordeal began when a local man, who had fallen into debt after losing lakhs in gambling, was repeatedly harassed by lenders charging exorbitant interest rates. When he could not repay the amount, the harassment escalated into physical confinement.
According to police reports and the victim’s statement, Birru Lakshmipathi, a resident of BC Colony in Aler, runs a small water plant to support his wife, Bhagyalakshmi, and two sons. His modest income was their only means of livelihood.
A few months ago, some…
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Facebook App: Open links in External Browser
There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser. This can be done through the following steps:
1. Open the settings menu by clicking the hamburger menu in the top right
2….
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Liquidators look to sell Vesuvio as creditors claim $640k The Press
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Facebook App: Open links in External Browser
There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser.
This can be done through the following steps:
1. Open the settings menu by clicking the hamburger menu in the top right
2. Choose “App Settings” from the menu
3. Turn on the option “Links Open Externally” (This will use…
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Introduction:
In a significant judgment, the Nagpur Bench of the Bombay High Court, presided over by Justice M.M. Nerkiar, examined the intersection of consumer protection law and insolvency proceedings under the Insolvency and Bankruptcy Code (IBC), 2016. The case arose from Srei Equipment Finance Limited v. Rajesh Bajirao Khandewar and Others (Criminal Writ Petition No. 41 of 2025), where a consumer complaint had been filed and decided during the subsistence of a moratorium imposed under Section 14 of the IBC. The petitioner, Srei Equipment Finance Limited, challenged the order of the District Consumer Dispute Redressal Commission, which had directed the return of a JCB machine allegedly repossessed illegally. The High Court was…