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Last Updated:October 22, 2025, 13:51 ISTA two-member NCLT bench also appointed an interim resolution professional (IRP), suspending Bhilai Jaypee Cement's
Depending on the bond holder, whether to write off or not\nCAMCO, gambling debt cannot be realistically selected
While the government is seeking to establish a “bad bank” for debt adjustment, it has been confirmed that it is virtually impossible to select speculative debts such as entertainment, gambling, and investment. Badbank is launched with the aim of helping the vulnerable recover, but it is pointed out that the collective purchase method can raise moral hazard and equity controversy.
According to a response from the Korea Asset Management Corporation (KAMCO) on the 22nd, Yoon Han-hong, chairman of the National Assembly’s political affairs committee, said, “Financial companies check for speculative bonds through the business…
KUALA LUMPUR (Oct 22): Datuk Seri Najib Razak has not paid any of the RM1.69 billion additional income tax imposed on him since 2019, and this has resulted in the Inland Revenue Board (IRB) initiating a bankruptcy notice on him.
IRB senior counsel Norhisham Ahmad told the High Court on Wednesday (Oct 22) that ever since the additional income tax was imposed on Najib in 2019, the former PM has not paid any sum at all, resulting in the IRB filing an originating summons to seek a summary judgment on him.
“After the summary judgment was obtained at the High Court and upheld by the Court of Appeal and Federal Court, Najib had also failed to pay any sum.
“This has resulted in the IRB issuing a bankruptcy notice, and this has been…
The Ahmedabad bench of the National Company Law Tribunal (NCLT) held that under Section 9(5) of the IBC, 2016, a dispute limited to interest does not amount to a pre-existing dispute and therefore does not bar initiation of the Corporate Insolvency Resolution Process.
The present application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by the operational creditor, Mr Mukeshkumar Shah, Proprietor of M/s Radhey Traders, against the corporate debtor, Synergy Food and Agro Processors Pvt. Ltd., seeking initiation of the Corporate Insolvency Resolution Process (CIRP).
The operational creditor is engaged in the trading of agricultural products in the District of Aravalli and has supplied wheat…
The National Company Law Tribunal (NCLT) has directed for initiation of insolvency proceedings against Bhilai Jaypee Cement, a subsidiary of debt-ridden group Jaiprakash Associates Limited, for a default of Rs 45 crore.
The direction of Cuttack Bench of NCLT came after it admitted a plea filed by the company’s operational creditor Sidhgiri Holdings Pvt Ltd, to which Bhilai Jaypee Cement owed Rs 45 crore against supply of coal.
A two-member NCLT Bench also appointed an interim resolution professional (IRP), suspending the board of the company and putting it under the protection of moratorium against encumbrance of assets through sale, civil suits etc, as per the provisions of the Insolvency & Bankruptcy Code (IBC).
22 October 2025 – Beware of a PDF letter being emailed to people with the email subject line ‘LEGAL RULING SUMMON DEMAND AS AT 21 10 2025’. Scams are changed on a regular basis so the subject line may differ. The letter contains a link to a fraudulent phishing website. Please do not click on any links. You should always type in the SARS eFiling address in your browser or click on the eFiling login from the SARS website homepage (sars.gov.za). If in doubt, go to our Scams and Phishing webpage where we will publish some examples or forward the suspicious email to [email protected].
The National Company Law Tribunal (NCLT) has ordered the initiation of insolvency proceedings against Bhilai Jaypee Cement, a subsidiary of debt-laden Jaiprakash Associates Ltd, following a default of INR450m (US$0.512m).
The Cuttack bench of the NCLT issued the direction after admitting a petition filed by operational creditor Sidhgiri Holdings Pvt Ltd, which supplied coal to Bhilai Jaypee Cement and was not paid for deliveries worth INR450 m.
A two-member NCLT bench, comprising Members Deep Chandra Joshi and Banwari Lal Meena, appointed an interim resolution professional (IRP) and suspended the company’s board of directors. The tribunal also imposed a moratorium under the Insolvency and Bankruptcy Code (IBC),…
New Delhi, Oct 22 (IANS) The National Company Law Tribunal (NCLT) has ordered the start of insolvency proceedings against Bhilai Jaypee Cement, a subsidiary of debt-laden Jaiprakash Associates Limited (JAL), for failing to pay dues of Rs 45 crore to a supplier.
The Cuttack bench of the NCLT passed the order after admitting a petition filed by Sidhgiri Holdings Private Limited, which had supplied coal to Bhilai Jaypee Cement.
The cement company reportedly did not pay the full amount for coal purchased between September 2021 and June 2022.
Sidhgiri Holdings had sent coal under three separate purchase orders of 2,000 metric tonnes each, making it a total of 6,000 metric tonnes.
According to the agreement, the company was supposed to make…
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A two-member NCLT bench also appointed an interim resolution professional (IRP), suspending Bhilai Jaypee Cement’s board and placing it under a moratorium.
Sidhgiri Holdings moved NCLT, filing a petition against Bhilai Jaypee Cement under Section 9 of the IBC.
The National Company Law Tribunal (NCLT) has ordered the initiation of insolvency proceedings against Bhilai Jaypee Cement, a subsidiary of debt-laden Jaiprakash Associates Limited, over a default of Rs 45 crore. The Cuttack bench of the NCLT issued the direction after admitting a plea by the company’s operational creditor, Sidhgiri Holdings Pvt Ltd, to which Bhilai Jaypee Cement owed Rs 45 crore for coal supplies.
New Delhi, Oct 22 (IANS) The National Company Law Tribunal (NCLT) has ordered the start of insolvency proceedings against Bhilai Jaypee Cement, a subsidiary of debt-laden Jaiprakash Associates Limited (JAL), for failing to pay dues of Rs 45 crore to a supplier.
The Cuttack bench of the NCLT passed the order after admitting a petition filed by Sidhgiri Holdings Private Limited, which had supplied coal to Bhilai Jaypee Cement.
The cement company reportedly did not pay the full amount for coal purchased between September 2021 and June 2022.
Sidhgiri Holdings had sent coal under three separate purchase orders of 2,000…
