In a significant judgment, the Supreme Court has held that insolvency proceedings involving real estate companies should generally be confined to specific projects rather than the entire corporate entity, unless there are compelling reasons to broaden the scope. The ruling aims to protect the interests of genuine homebuyers while maintaining clarity in insolvency processes under the Insolvency and Bankruptcy Code (IBC).

The verdict came in response to appeals concerning two real estate firms, Gayatri Infra Planner Pvt. Ltd. and Antriksh Infratech Pvt. Ltd. In these cases, investors had entered into agreements that included buy-back and refund clauses, and later sought to initiate Corporate…

As my grandpa used to say, if something sounds too good to be true, it probably is. That’s what one man is learning the hard way after winning a Publishers Clearing House sweepstakes that he believed would set him up financially for life.

Everyone over a certain age remembers those commercials — “You could win $5,000 every week for the rest of your life!” People were handed giant checks as they fought back tears with celebratory balloons surrounding them. My young mind couldn’t even wrap around the amazing things happening on TV. While the infamous Publishers Clearing House (PCH) certainly did change some lives, unfortunately, some people are now left to reckon with the fact that the company filed for bankruptcy and no longer has…

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Newport Indian Restaurant Limited, which trades as Basmati Indian Cuisine from 5-7 High Street in Newport, went into voluntary liquidation at the beginning of the month.

Jamie Playford of Norwich-based insolvency practice Leading Corporate Recovery was appointed as liquidator of the company, following a creditors meeting held on Wednesday, September 3.

A statement of affairs submitted to Companies House this month shows the firm owes more than £21,000 to creditors, including a debt of £10,604 to British Gas and £5,114 to Telford & Wrekin Council.

Accounts filings for the business have been overdue since April 2025.

The company was incorporated in April 2023, trading from the same location as the former…

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Facebook App: Open links in External Browser

There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser. This can be done through the following steps:

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A two-member NCLAT bench said the plea for CIRP (Corporate Insolvency Resolution Process) against Logix Infrastructure, which was developing the Blossom County project in Noida Sector 137, are based on collusion and are malicious with sufficient material.

“In the facts and circumstances of the case, we do not find any infirmity in the orders of the adjudicating authority (NCLT) allowing the Section 65 application filed by the Respondents. For the reasons noted herein, we find that…

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Facebook App: Open links in External Browser

There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser.

This can be done through the following steps:

1. Open the settings menu by clicking the hamburger menu in the top right

2. Choose “App Settings” from the menu

3. Turn on the option “Links Open Externally” (This will use…

In a recent case, the Cuttack bench of the National Company Law Tribunal(NCLT) admitted the application of IDBI Bank filed under section 7 of the Insolvency and Bankruptcy Code,2016 (IBC) as the Corporate Debtor acknowledged the one-time Settlement (OTS) on due debt within period of limitation.

IDBI Bank Limited, the applicant, filed the application through its authorized representative Purna Chandra Majhi (“ the Applicant/ Financial Creditor”) seeking to initiate Corporate Insolvency Resolution Process (“CIRP”) against Fortune Spirit Limited (“the Respondent/ Corporate Debtor”) by invoking the provisions of Section 7 of the Insolvency and Bankruptcy Code,2016 (“Code”) read with Rule 4 of Insolvency & Bankruptcy…