The Supreme Court on Friday overturned its May 2 order directing liquidation of Bhushan Power and Steel Ltd (BPSL) and instead upheld JSW Steel Ltd’s Rs 19,700-crore resolution plan for the debt-ridden company. With this verdict, SC rejected challenges raised by BPSL’s former promoters and certain creditors.The apex court observed that delays in implementation were not attributable to either JSW or the lenders’ Committee of Creditors (CoC), observing that both had been trying to enforce the plan despite hurdles.

A bench led by Chief Justice B. R. Gavai said the commercial wisdom of the CoC could not be interfered with and cautioned that once a resolution plan is approved, reopening claims would amount to “committing violence” on…

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In a recent case, while admitting the application filed by Canara Bank, the Cuttack bench of the National Company Law Tribunal (NCLT) has held that institution of criminal proceedings against the concerned official of the Financial Creditor cannot be a ground to reject the application under Section 7 of IBC, 2016, unlike in a Section 9 application, a pre-existing dispute cannot be a bar for admission of an application under Section 7 of the IBC, 2016.

The present application was filed by Canara Bank (‘Petitioner/ Financial Creditor’) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (‘the Code’) read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for…

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Alpha Energy Holdings ( (SG:VVL) ) has provided an update.

Alpha DX Group Limited, currently in compulsory liquidation, has announced that there have been no significant developments in its affairs since its last update. The liquidators have committed to providing further updates if any material changes occur, advising shareholders to seek professional advice if uncertain about their next steps.

More about Alpha Energy Holdings

Technical Sentiment Signal: Strong Sell

Current Market Cap: S$27.21M

For detailed information about VVL stock, go to

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