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New Delhi: Reliance Infrastructure Ltd on Friday said appellate tribunal NCLAT has stayed the insolvency proceedings against the company following a repayment of Rs 92.68 crore towards tariff as per an energy purchase agreement.
Reliance Infrastructure in its latest regulatory filing said that the National Company Law Appellate Tribunal (NCLAT) has stayed an NCLT order over an appeal filed by it.
The Mumbai bench of the the National Company Law Tribunal (NCLT) on May 30 this year directed initiation the corporate insolvency resolution process and appointment of an interim resolution professional against Reliance Infrastructure.
The NCLT order came after IDBI Trusteeship in April 2022 had filed a petition alleging a default of Rs…
KALAMAZOO, MI — Nearly $2.5 million of medical debt has been erased for qualifying residents in Kalamazoo County, government officials said.
In just the first quarter of this year, 7,231 Kalamazoo County residents had $2.49 million in medical debt erased through a new government initiative, Kalamazoo County said in a news release.
That averages to about $344 erased per person.
With an ARPA allocation of $100,000 from the Board of Commissioners, Kalamazoo County partnered with the national nonprofit Undue Medical Debt (formerly RIP Medical Debt) to carry out the effort, turning the local investment into debt relief for residents.
Residents were included in the program based on income or the burden of their medical debt.
Just in: the number of companies in England and Wales falling into insolvency dropped last month.
The InsolvencyService has reported that there were 2,043 registered company insolvencies in England and Wales in June, 8% lower than in May 2025 (2,230) and 16% lower than in June 2024, when 2,430 companies failed.
That could ease some concerns over the health of the UK economy, as companies tackle rising inflation and higher taxes.
A chart showing company insolvencies in England and Wales Photograph: The Insolvency Service
Despite the drop, monthly company insolvency numbers in the first six months of 2025 were slightly higher than the second half of 2024, but remain lower than the 30-year annual…
Reliance Infrastructure Ltd. (RInfra) on Friday said the National Company Law Appellate Tribunal (NCLAT), New Delhi stayed insolvency order against the company.
On June 4, NCLAT had suspended the National Company Law Tribunal (NCLT), Mumbai’s insolvency order against RInfra after the company settled its dues to its creditors.
On May 30, NCLT, Mumbai bench had admitted RInfra for insolvency resolution following a petition filed by IDBI Trusteeship Services Ltd., being the security trustee of Dhursar Solar Power. It had also appointed Tehseen Fatima Khatri as the interim resolution professional of the company.
The operational creditor had alleged a default of ₹88.68 crore as on August 28, 2018 as well as interest at 1.25% a month…
The National Company Law Appellate Tribunal, Principal Bench, New Delhi, comprising Justice Ashok Bhushan (Chairperson) and Barun Mitra (Member – Technical), has ruled that the application u/s 9 of the IBC, 2016, cannot be sustained if the operational debt is settled before the date of admission.
Background of the Case
Section 9 IBC application, seeking CIRP of the corporate debtor, was filed by the operational creditor. During the pendency of proceedings, the operational creditor and the corporate debtor entered into a settlement by way of an agreement dated June 28, 2025. Information with regard to the settlement was not filed with the adjudicating authority, thus, the adjudicating authority admitted the application…
Over 210,000 Michigan residents will get financial assistance from a new partnership intended to forgive their outstanding medical debt.
Michigan Gov. Gretchen Whitmer and others made the announcement Thursday, saying that the first round of debt forgiveness under this plan will assist over 210,000 individuals with clearing over $144 million in medical debt.
“Medical debt affects our friends, neighbors, and families, making it harder to get a job, put food on the table, or access medical care,” Lt. Governor Garlin Gilchrist II said in his statement. “Today’s forgiveness of over $144 of medical debt will help over 200,000 Michiganders in communities across our state move forward with their lives.”
Just in: the number of companies in England and Wales falling into insolvency dropped last month.
The InsolvencyService has reported that there were 2,043 registered company insolvencies in England and Wales in June, 8% lower than in May 2025 (2,230) and 16% lower than in June 2024, when 2,430 companies failed.
That could ease some concerns over the health of the UK economy, as companies tackle rising inflation and higher taxes.
A chart showing company insolvencies in England and Wales Photograph: The Insolvency Service
Despite the drop, monthly company insolvency numbers in the first six months of 2025 were slightly higher than the second half of 2024, but remain lower than the 30-year annual…
This week’s company insolvency statistics show accommodation and food services insolvencies rose 6% from 277 in April 2025 to 295 in May 2025, reaching the highest monthly figure since November 2024. Insolvencies in the sector were also up 4% year-on-year.
Saxon Moseley, partner and head of leisure and hospitality at RSM UK, said, “Today’s figures show the cost pressures and challenges faced by the hospitality industry are really starting to bite. Higher staff costs and rising inflation, combined with subdued consumer spending, means some operators are simply running out of runway. Many have reached their limit in passing on costs to customers and are currently in survival mode.
