The National Company Law Appellate Tribunal (NCLAT) at Delhi has refused a suspended director of Aviom India Housing Finance Pvt. Ltd. access to resolution plans submitted during the company’s insolvency process. The tribunal reiterated that once the board of a financial service provider is superseded by the Reserve Bank of India, former directors have no right to participate in the CIRP or…

The insolvency plea arose from SPML Infra’s claim relating to extra item rate list (EIRL) works executed for the Nanjapura Lift Irrigation Scheme pursuant to a contract awarded in 1999. The additional works were completed by 2009 and the final bill was submitted in 2013.

SPML claimed that although CNNL repeatedly acknowledged the dues over the years while seeking internal approvals, payment was never released. The operational creditor claimed ₹9.36 crore, including interest.

CNNL opposed the petition, arguing that the debt was disputed and that related issues were pending before an arbitrator appointed in 2004.

Rejecting this defence, the NCLT comprising Member (Judicial) Sunil Kumar Aggarwal and Member (Technical) Radhakrishna…

As the year draws to a close and people of many faiths around the world prepare for a season of reflection, renewal, and generosity, the Catholic Church marks another jubilee — a time marked by forgiveness, restoration, and social justice celebrated every 25 years. Historically, during the jubilee year, slaves were liberated, land acquired was returned to its original owners, and debts were forgiven. In essence, the jubilee served as a “reset button” that the Catholic Church advocated to give people a fresh start.

This reset button can be a powerful economic and moral tool. The most recent jubilee, in 2000, led to the largest debt forgiveness in modern history. Advocated by Pope John Paul II, 36 countries collectively received $76…

New Zealand’s public listed companies can expect to see a rise in shareholder activism as well as major legal reforms ahead as the economy continues to recover.

Legal firm Chapman Tripp’s latest Corporate Governance Trends and Insights report indicates big changes ahead for the boards of NZX companies.

“It’s a dynamic period for bold governors. There’s quite a lot of change going on in our own business. We’re confronting what artificial intelligence means for us, as are many businesses,” Chapman Tripp corporate partner Roger Wallis said.

“There’s a lot coming up. We’re coming out of…

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The Supreme Court of India has, yet again, stepped in to arrest the creeping tendency of corporate debtors to stall Corporate Insolvency Resolution Process (CIRP) by raising spurious defences. In M/s. Saraswati Wire & Cable Industries v. Mohammad Moinuddin Khan & Ors. [Civil Appeal No. 12261 of 2024, decided on 10 December 2025 – 2025 INSC 1410], a Division Bench of Sanjay Kumar and Alok Aradhe, JJ. set aside a 13 March 2024 order of the National Company Law Appellate Tribunal (NCLAT) and restored the admission order passed by the National Company Law Tribunal, Mumbai Bench-IV, thereby allowing the operational creditor’s Section 9 petition under the Insolvency & Bankruptcy Code, 2016 (IBC) to proceed. 

The appellant, a registered…

BitcoinWorld

Shocking Audit: COVID Debt Relief Benefited Borrowers with Large Crypto Holdings in South Korea

A recent audit in South Korea has uncovered a startling reality about COVID-19 relief programs. The investigation reveals that government-backed COVID debt relief reached borrowers who maintained significant crypto holdings, raising serious questions about the allocation of public funds during the pandemic crisis.

What Did the South Korean Audit Actually Find?

The Board of Audit and Inspection conducted a regular audit of the Korea Asset Management Corporation (KAMCO), uncovering troubling patterns in COVID-19 relief distribution. Their examination revealed that not all recipients of principal forgiveness truly needed financial…

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