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In a boost to corporate resolutions under the Insolvency and Bankruptcy Code (IBC), the Supreme Court on Friday (September 26) approved Sajjan Jindal-led JSW Steel’s $2.3 billion acquisition of Bhushan Power and Steel (BPSL), reversing its earlier rejection of the deal.
The court also dismissed creditors’ demand for an additional ₹6,100 crore, clearing the way for the long-delayed takeover.
What SC said on Friday
On Friday, the Supreme Court said that JSW had successfully revived Bhushan Power and Steel by investing heavily in modernisation and protecting thousands of jobs, ensuring the company remained a going concern.
The court observed that the core purpose of the Insolvency and Bankruptcy Code (IBC) — turning a loss-making…
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Major St. Petersburg banana importer declared bankruptcy.
The Arbitration Court of St. Petersburg and the Leningrad region has declared LLC Troya Import insolvent. The company, once one of the city’s largest importers of bananas and other fruits with multi-billion-ruble revenues, has been placed under bankruptcy proceedings.
The court-appointed administrator, Andrey Enkov, must submit a report on debt recovery by March 18, 2026.
Troya Import had filed for bankruptcy on April 18. A monitoring procedure was launched in May, and the first creditors’ meeting took place on September 3. Court documents state that the only creditor present was Ecuadorian banana exporter Frutadeli S.A., with claims of 64.2 million rubles. Holding…
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In a boost to corporate resolutions under the Insolvency and Bankruptcy Code (IBC), the Supreme Court on Friday (September 26) approved Sajjan Jindal-led JSW Steel’s $2.3 billion acquisition of Bhushan Power and Steel (BPSL), reversing its earlier rejection of the deal.
The court also dismissed creditors’ demand for an additional ₹6,100 crore, clearing the way for the long-delayed takeover.
What SC said on Friday
On Friday, the Supreme Court said that JSW had successfully revived Bhushan Power and Steel by investing heavily in modernisation and protecting thousands of jobs, ensuring the company remained a going concern.
The court observed that the core purpose of the Insolvency and…
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Mohammed Rashidzadeh obtained a £50,000 Bounce Back Loan for his business but almost immediately transferred the money from his company account to buy a house in Huddersfield
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Rashidzadeh applied to close down Cozy Bed Ltd through Companies House within eight days of receiving the funds, while deliberately failing to notify the bank that lent him the money of his intentions
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The 34-year-old, now based in North Wales, was jailed for 18 months following investigations by the Insolvency Service
A Covid fraudster who bought a house in Huddersfield using Bounce Back Loan funds has been jailed.
Mohammed Rashidzadeh appointed solicitors to help him buy a three-bedroom semi-detached house in the…
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In Conversation with Srividhya Sridhar, Head Legal, Vivriti Capital: Insights on the IBC Amendment Bill 2025 BW Legal World
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Greek Premier Says Momentum Behind EU Joint Debt for Defense Bloomberg.com
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Heartstopper for gym tech startup backed by big money The West Australian
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Paris – The Paris Commercial Court kept the French subsidiary of low-cost jewellery retailer Claire’s in receivership on Thursday. This decision followed the submission of a takeover bid from three companies, which was deemed “very minimalist” by lawyers for the staff representatives.
The court opened receivership proceedings for Claire’s France at the end of July. Management justified this move by citing a continuous decline in in-store sales over several years. This decline was accelerated by US customs duties on Chinese products, which Claire’s uses extensively.
An observation period was then opened. The court decided on Thursday to maintain this period until the end of January following a call for tenders for a partial takeover of…
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GamCare: Problem gambling debt doubles YoY sbcnews.co.uk
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Liquidation of debt-ridden firm last option under Insolvency and Bankruptcy Code: SC Press Trust of India


