Omkara Asset Reconstruction Company, the sister company of Areion Group ARC, announced on Friday that it has acquired the debt of bankrupt Wind World India from the National Asset Reconstruction Company Ltd (NARCL) in a ₹1,225-crore bid.

NARCL, the state-run bad bank, originally purchased the debt of ₹3,763 crore about 18 months ago. The fresh sale of the debt was conducted through the Swiss challenge method, which concluded with Omkara ARC emerging as the final bidder, a company statement said.

Wind World India, formerly known as Enercon India Limited, operates 650 MW of renewable energy projects and manages the operations and maintenance for 4,500 MW of installed capacity across Andhra Pradesh, Gujarat, Karnataka, Maharashtra,…

Mumbai– In a major setback for industrialist Anil Ambani, the Bombay High Court on Friday dismissed his plea challenging the State Bank of India’s decision to classify his loan account as “fraud.”

A bench comprising Justices Revati Mohite Dere and Neela Gokhale upheld SBI’s action, ruling that the bank had complied with the Reserve Bank of India’s July 2024 Master Directions on fraud classification. The court rejected Ambani’s claims of procedural unfairness and arbitrariness.

SBI had declared the loan accounts of Reliance Communications (RCom) and its promoter Anil Ambani as fraudulent in June 2025, citing diversion of funds, breach of covenants, and related-party transactions….

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Ardgour Orchards, Valley Orchards GP Ltd and Ardgour Valley Orchards LP went into liquidation in early August, although details were scant on why.

The orchards had been situated on part of Ardgour Station, near Tarras.

The sale consisted of a 48ha property with 11.94ha of cherry trees, which were fully bird-netted, and 22.83ha of apricots.

The sale also included an irrigation system, three frost-fighting machines and a large eight-bay 480sq m packing shed.

Liquidators Diana Matchett and Colin Gower, of BDO in Christchurch, had been appointed liquidators.

The trees for the orchard were planted in 2020 and last summer the apricot…

The National Company Law Tribunal (NCLT) Kolkata bench admitted Rs 2,888 Cr Insolvency petition by Canara Bank against Gupta Power Infrastructure, holding that when a financial creditor consortium establishes a valid default exceeding the threshold limit under Section 4 of the IBC, supported by proper authorization and undisputed evidence of debt, the Adjudicating Authority is bound to admit the Section 7 petition and initiate the Corporate Insolvency Resolution Process (CIRP).

Omkara Asset Reconstruction Company has announced the successful acquisition of Rs 3,763 crore debt from the bankrupt Wind World India, secured with a bid of Rs 1,225 crore.

The strategic move places Omkara in a pivotal role as the lead decision-maker in Wind World India’s Corporate Insolvency Resolution Process, securing an 80% voting share within the Committee of Creditors.

Previously known as Enercon India, Wind World India plays a critical role in the country’s renewable energy sector, operating 650 MW of renewable projects and managing 4,500 MW of installed capacity across various Indian states.

(With inputs from agencies.)

They have been launched to help Brits pay off their debt faster

TSB and Barclays customers can get a credit card deal which doesn’t pay interest for the first 35 months.

They have been launched to help Brits pay off their debt faster.

TSB’s Platinum Balance Transfer Card offers zero interest for up to 35 months on any balance transferred.

Read more: State pensioners sent four-week update over £300 bonus payments

However, customers will be charged a 3.49% fee for any transfers they make in the first three months of opening the account.

The account has a minimum credit limit of £500, but once the 35 months have passed, the interest rises from zero up to 24.9% APR.

Irish corporate insolvencies remain stable as creditor enforcement actions rise sharply.

Corporate insolvencies in Ireland have remained largely stable in the first half of 2025, with 407 cases recorded compared to 412 in the same period last year, representing a marginal 1% decrease.

However, the nature of these insolvencies is shifting significantly, with creditor-led enforcement actions rising sharply across multiple categories.

“Hospitality continues to experience a high number of insolvencies, despite the drop in 2025 so far”

The figures, released by Deloitte Ireland, reveal a complex picture of corporate distress that goes beyond simple headline numbers….

Fair trade regulator CCI on Tuesday said it has given in-principle approval to Naveen Jindal-led Jindal Power‘s proposal to acquire debt-ridden Jaiprakash Associates, should it win a bid in the ongoing insolvency proceeding.

Apart from Jindal Power, the proposals of PNC Infratech, Adani Group and Dalmia Bharat for JAL acquisition have been cleared by the regulator.

“Commission approves acquisition of Jaiprakash Associates Limited by Jindal Power Ltd,” the regulator said in a post on X.

The Competition Commission of India (CCI) said it has approved the acquisition of Jaiprakash…

In the BPSL case, the figures were not insignificant. According to the RP’s affidavit, EBITDA exceeded ₹1,800 crore during the CIRP period. At various points, the Committee of Creditors (CoC) indicated that this sum should be distributed among creditors. JSW Steel, whose resolution plan was ultimately approved by the CoC, contended that EBITDA was simply an accounting figure and not profit available for distribution.

The National Company Law Tribunal (NCLT) sided with the creditors and ordered EBITDA to be treated as an asset. The National Company Law Appellate Tribunal (NCLAT) reversed this decision and permitted JSW Steel to remain in control. The matter then proceeded to the Supreme Court.

Initially, the Supreme Court rejected JSW…

Mumbai, Oct 3 (IANS) In a setback to industrialist Anil Ambani, the Bombay High Court on Friday rejected a plea against SBI’s decision to declare his loan account as “fraud”.

A bench of Justices Revati Mohite Dere and Neela Gokhale dismissed Anil Ambani’s argument of procedural unfairness and upheld the State Bank of India’s action.

The court did not find any force in the industrialist’s allegation of arbitrariness in the bank’s decision and noted that SBI had followed the RBI’s July 2024 Master Directions on fraud classification.

The bank tagged the loan accounts of Reliance Communications (RCom)…

The idea is to enable company executives and lenders to closely watch signals of financial distress in a company that precede a payment default and to pre-empt insolvency, the people said on the condition of anonymity. It could take some time before formal proposals are framed, as the matter requires broad-based consultations, they said.

It would add preventive action to the Insolvency and Bankruptcy Code (IBC), which is currently focused on firefighting after bankruptcy proceedings are initiated either by the creditors or the company itself. The discussions follow a suggestion by the Supreme Court while hearing a case.

Such a measure could improve…