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.
Case No.: KALYANI TRANSCO Vs MS BHUSHAN POWER AND STEEL LTD. | C.A. No. 1808/2020 and connected matters
Citation: 2025 LiveLaw (SC) 954
In the JSW Steel matter, the Supreme Court held that the Committee of Creditors (CoC) under the Insolvency and Bankruptcy Code, 2016 (IBC) does not become functus officio merely upon the approval of a resolution plan by the Adjudicating Authority. The Court held that the CoC continues to have a role until the resolution plan is fully implemented or an order of liquidation is passed.
The Corporate Insolvency and Governance Act 2020 (the “Act”) came into force in June 2020. It introduced a number of temporary and permanent measures to restructuring and insolvency law which will affect creditors’ rights in the UK. The overarching objective of the Act is to promote the rescue of companies in financial difficulties by introducing a new “moratorium” procedure, a new “restructuring plan” procedure and new rules prohibiting the termination of contracts for the supply of goods and services by reason of insolvency (so called “ipso facto” clauses). The Act represents the biggest change to insolvency legislation in 20 years and has implications for:
The first full year of the post-COVID-pandemic era was characterized in the United States by continued economic recovery, persistently high consumer interest rates—despite three cuts in the benchmark federal funds rate in 2024, low unemployment, lower but still stubborn inflation, supply-chain disruptions caused by overseas conflicts, changing consumer spending preferences, the persistent malaise of the U.S. health care sector, auto industry headwinds prompted by decreased demand for electric vehicles, higher labor costs, and uncertainty regarding the financial and economic ramifications of the results of the 2024 elections (including the prospect of international trade wars).
One year ago, we wrote that 2023 would be remembered in…
Stay informed about the latest case laws on Company Law with this comprehensive overview as we delve into the latest cases reported in the Company Cases (Comp Cas), focusing on critical issues such as Resolution plan, Moratorium, winding up and liquidation, Directors, Notice and Banking business.
(2025) 253 Comp Cas
Corporate Laws — Company Law — Directors — Serious Fraud Investigation — Look out circular against erstwhile promoter-director of company under investigation by Serious Fraud Investigation Office — Failure to come to court with clean hands and that by itself disentitling him to grant of any discretionary relief — Held, paramount to National interest and interests of stakeholders who have been deprived of their…
According to an administration memo released on Friday, the US government plans to offer migrant teenagers a $2,500 stipend to voluntarily return to their home countries.
The US Department of Health and Human Services (HHS) memo stated that immigration officials have identified unaccompanied immigrant children aged 14 and older in custody who wish to voluntarily leave the US., News.Az reports citing foreign media.
It said the administration “will provide a one-time resettlement support stipend of $2,500 to unaccompanied alien children, 14 years of age and older, who have elected to voluntarily depart the United States as of the date of this notice and moving forward.”
Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Reliance Communications Limited ( (IN:RCOM) ) has provided an announcement.
Reliance Communications Limited has disclosed that UCO Bank has classified its loan accounts as ‘fraud’. This development comes as the company is undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. The loans in question pertain to a period before the insolvency process began, and their resolution is part of the ongoing legal proceedings. The company has also initiated a review of transactions identified as avoidance…
Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Reliance Communications Limited ( (IN:RCOM) ) just unveiled an announcement.
Reliance Communications Limited has received a letter from UCO Bank classifying its loan accounts as ‘fraud’. This development comes as the company is undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. The resolution plan for the company has been approved by its creditors and is awaiting approval from the National Company Law Tribunal, Mumbai Bench. The loans in question pertain to a period before the insolvency…
Millions of Australians will see their student debt slashed from next month.
The federal government said the Australian Tax Office would begin applying the 20 per cent cut from mid-November, with most seeing their balances reduced by the end of the year.
Education minister Jason Clare confirmed the timeline on Sunday and said about three million Australians would benefit from the debt relief.
“We promised we would cut your student debt by 20 per cent and we are delivering,” he said.
“This cut is already locked in to people’s balances at 1 June but soon they will be able to see it and feel it.”
Here’s everything you need to know.
How much is the cut and who will benefit?
The cut is a one-off reduction of 20 per cent on all Higher…
Millions of Australians are still facing a weeks-long wait to see promised student debt relief kick in after the new legislation took effect in late September.
The laws fulfil a key election pledge to cut student debt by 20 per cent for all Australians.
Today, it’s been revealed when people can expect to start seeing that tangible relief.
Millions of Australians are expecting a debt reduction. (iStock)
The tax office will begin applying the cut from mid-November, and anticipates that 50 per cent of people with a student debt will see the cut kick in by the end of that month.
Almost everybody else will see the cut applied to their balance by mid-December.
“Soon millions of Australians with student debt will get a text message from the ATO…
