New Delhi, Jul 5 (PTI) Lenders of Jaiprakash Associates Ltd (JAL) have turned down Jaypee Infratech’s request to accept its resolution plan to acquire the bankrupt diversified company.
Five companies — Adani Enterprises, Vedanta Group, Dalmia Bharat Cement, Jindal Power and PNC Infratech — have submitted their resolution plans to acquire JAL.
However, lenders of JAL, on June 25, had rejected the resolution plan of Suraksha Group-owned Jaypee Infratech Ltd as the bid was submitted late and without earnest money.
According to sources, Jaypee Infratech requested the Committee of Creditors (CoC) of JAL to reconsider the decision to reject its bid. It sought permission to participate in the insolvency…
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Donald Trump says his sweeping tax cuts will grow the economy. But, critics say the bill will increase national debt.
Dubbed the “One Big Beautiful Bill Act”, President Donald Trump’s signature policy bill would slash taxes, largely benefitting the wealthiest Americans.
To pay for it, federal spending would be reduced, including on Medicaid, food stamps and student loans. Supporters say the bill could jumpstart economic growth and create jobs.
Critics, including some Republicans, say millions of Americans would pay the price. And the non-partisan Congressional Budget Office estimates the bill would actually add an estimated $3.3 trillion to debt over a decade.
Why did Canada scrap its digital tax on US tech companies?
Plus,…
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23,000 in Blair rejoice at student debt relief Local Ipswich News
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Melbourne building collapses into voluntary administration – leaving projects in the lurch MSN
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How employers can help workers with student loan debt Fortune
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An award-winning food distributor has filed for bankruptcy.
Cozy Harbor Seafood, a Maine-based seafood processing company, filed for Chapter 11 as it seeks a sale.
The company is well-known for providing marine proteins to major grocery stores around the world, including Wegmans, AEON, Giant, HEB, and Hannaford.
But like many food companies, it has racked up debt following 2020 Covid lockdowns.
Its sales of lobsters and fish will continue during the bankruptcy period, lawyers…
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Insolvency DG Warns Of Rising Trend In Self-declared Bankruptcy Bernama
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The recent amendments by the Insolvency and Bankruptcy Board of India (IBBI) – the Fourth Amendment to the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2025 (CIRP Regulations) and the The Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) Guidelines, 2025 (IP Guidelines) – have introduced some major changes to India’s insolvency framework.
The IBBI has inserted Regulation 18(5) and amended Regulations 36A and 38 in CIRP regulations to allow greater flexibility in the IBC regime.
The authors aim to critically evaluate the implications and legislative reasoning behind the new reforms, and opine that while the…
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In the energy industry, it’s known as the solar coaster: The ups and downs in the solar industry can cause companies to grow quickly and fade just as fast. So far in 2024, customers of more than one big installer have felt those big downhill drops.
The latest solar giant to struggle is SunPower Solar, one of CNET’s picks for best national solar companies. The company filed for Chapter 11 bankruptcy in August. As part of the bankruptcy, Complete Solaria (a merger of Complete Solar and Solaria) will buy SunPower’s Blue Raven Solar and New Homes subsidiaries, as well as other parts of the SunPower dealer network. On Sept. 9, Complete Solar announced that it raised $40.5 million to cover the remaining closing costs of a $45 million bid to…
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The (FfD4) took place from June 30 to July 3, 2025 in Seville, Spain, marking a pivotal moment for global cooperation on sustainable development.
FfD4 marks the 80th anniversary of the United Nations (UN) and arrives amid rising debt, climate risks and a $4.2 trillion annual financing gap for developing countries, highlighted Philemon Yang, president of the United Nations General Assembly. It serves both as a review of past commitments and a launchpad for new action through the and , the outcome document.
The UN Economic and Social Council (ECOSOC) President, Bob Rae, echoed the urgency, identifying four key goals for reinvestment in the pillars of sustainable development: Closing the financing gap for UN-mandated Sustainable…
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The recent reforms reflect the IBBI’s aspiration to make the insolvency resolution process not just faster, but also more accountable and investor-friendly. But it is imperative to view these reforms in consonance with the underlying institutional limitations. The IBC framework still suffers from limited infrastructure at the NCLT level, valuation disputes, inconsistent judicial interpretation and information asymmetry. As of September 2024, the number of CIRPs resulting in liquidation (2,630) was still over 2.5 times the number resulting in resolution (1,068). Therefore, the recent reforms need to be accompanied by reforms in tribunal capacity building, cross-border insolvency framework and digital infrastructure for tracking CIRP…
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Michael Jordan once admitted he turned his gambling losses into apology checks for his wife: “Here honey, I’m sorry for the embarrassment” originally appeared on Basketball Network.
Even though Michael Jordan was the embodiment of basketball greatness every time he stepped on the hardwood or grinded behind the scenes, the one stain that followed him throughout his career was the constant whispers about his gambling. And even though he lived in an era where social media didn’t exist, this “public secret” somehow managed to dominate conversations and headlines.
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Stories of massive golf bets, late-night casino trips and even a visit to Atlantic City during the middle of the Eastern Conference finals weren’t rare — they were…
