Insolvency Guardian Media Centre
The National Company Law Tribunal (NCLT), Hyderabad Bench of Justice Shri. Rajeev Bhardwaj (Hon’ble Member) and Shri. Sanjay Puri – Hon’ble Member Technical has held that proving debt and default through records of default with the information utility is not mandatory. If debt and default are established through other evidence, a petition under Section 7 of the IBC can still be admitted.
The present application has been filed under section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to default on commercial paper subscribed by the Applicant.
The Applicant submitted that Respondent is not a Financial Service…
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MUMBAI: The National Company Law Appellate Tribunal (NCLAT) has rejected an appeal by the Central Bank of India challenging the approval of a resolution plan for Neptune Developers Pvt. Ltd, a bankrupt real estate company. The tribunal ruled that as a dissenting financial creditor, the bank cannot block a plan endorsed by the Committee of Creditors (CoC) in its “commercial wisdom.”
The order brings relief to more than 2,000 homebuyers who have waited more than a decade for possession of flats tied up in Neptune’s stalled project.
“There are no grounds made out to interfere with the approval of the resolution plan which is based on approval by the CoC in exercise of its commercial wisdom. There is no merit in the appeal. The appeal…
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News | Claire’s finds buyer for almost 1,000 stores, avoids liquidation CoStar
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Popular motorcycle retailer collapses after 55 years – putting 400 jobs on the line MSN
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Top Shelf Holdings appoints voluntary administrations Business News Australia
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Trump set to bar college graduates from debt relief program if employers undermine ‘American values’ MSN
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NS Bikes is a well-known mountain bike brand founded in Poland in 2003 which sells a comprehensive range of bikes. On August 18, 2025, the brand’s parent company, 7anna, officially filed for bankruptcy proceedings with the Polish government — the latest in a long line of bankruptcy proceedings and restructurings sweeping the mountain bike industry. 7anna also owns the Rondo, Octane One, and Creme Cycles brands.
The news was first broken by the Polish publication Polityka, and Singletracks has independently confirmed the bankruptcy filing. The furor of the announcement prompted Szymon Kobyliński, founder of NS Bikes, to release a statement to Polish MTB publication mtbxcpl. The statement, which was…
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The National Company Law Tribunal (NCLT) has officially approved a resolution plan for Hindustan National Glass & Industries Limited (HNGIL) valued at ₹2,071.50 crores, a significant development in the company’s insolvency proceedings. The resolution amount will be distributed among various creditors, with a substantial portion allocated to financial creditors.
The NCLT’s approval of the resolution plan, submitted by Independent Sugar Corporation Limited (INSCO), marks a key moment in the case initiated by DBS Bank Limited in October 2021. The plan received overwhelming support from the Committee of Creditors (CoC), with a 96.16% majority vote.
The resolution amount of ₹2,071.50 crores is distributed as…
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(InvestigateTV) — Debt collection calls, texts, and emails can be scary and overwhelming.
Naomi Peden, Senior Housing Counselor with Money Management International, said collection calls are getting more aggressive. Because of this, consumers, especially those who do not know their rights, feel pressured to make immediate decisions, even when it is not required.
Penden regularly hears from people who feel bombarded by collectors. She said that pressure is tied to a growing reliance on debt just to get by.
“It’s because a lot of people are now utilizing forms of debt in order to manage their everyday monthly expenses,” she explained.
Under the Fair Debt Collection Practices Act, consumers have the right to dispute or verify a debt.
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