Insolvency Guardian Media Centre
NCLT Approves Adani Properties Bid For Two HDIL Assets In Mumbai NDTV Profit
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State Bank of India has decided to classify the loan account of Reliance Communications Ltd. as ‘fraud’, a move that dates back to transactions from August 2016, according to an exchange notification.
The bank will also report the name of Anil Dhirajlal Ambani, erstwhile director of the defunct telecom operator and head of the Anil Ambani-led Reliance Group, to the Reserve Bank of India in line with regulatory requirements for key management personnel involved in such accounts.
This has come as RCom is currently under the corporate insolvency resolution process as per the Insolvency and Bankruptcy Code.
The company clarified that the resolution plan for its insolvency has already been approved by its committee of creditors and is…
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Anil Ambani: From the 6th richest in the world to Rs.31,580 cr ‘fraud’ tag by State Bank
State Bank of India (SBI) has decided to classify the loan account of beleaguered telecom firm Reliance Communications as “fraud” and to report the name of its erstwhile director — Anil Ambani to the Reserve Bank of India (RBI). The move is expected to be followed by other lenders who have given loans to Reliance Communications Ltd (RCom).
Reliance Communications, in a regulatory filing, said that it has received a letter dated June 23, 2025, from the State Bank of India (SBI) to this effect. SBI has decided to…
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Flexys has partnered with CU Share to improve member debt management across leading credit unions. The Flexys CU Share partnership brings a digital-first approach to credit and collections.
Empowering credit unions through collective strength
The credit unions, deeply rooted in their communities and committed to financial well-being, sought a solution to empower their members and optimise internal collections. Individually, the credit unions faced barriers to adopting leading-edge technology. However, by uniting through CU Share, they’ve collectively secured Flexys’ out-of-the-box collections software, chosen for its comprehensive feature set and quick time-to-value
Automating collections to boost…
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Insolvencies steady but companies face ‘significant headwinds’ for rest of the year MSN
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The future appears bleak for Esoteric Festival, which has entered into voluntary administration following an unfortunate deadlock with authorities.
“This is by far the hardest thing I’ve ever had to write,” explains festival co-founder and Sam Goldsmith in an open letter.
The annual event, he continues, has ceased trading after entering voluntary administration with effect from June 11th 2025.
It’s a harsh end for the beloved fest, which was forced to its cancel its 2025 edition at the eleventh hour, when Buloke Shire Council refused to issue the required Place of Public Entertainment Occupancy Permit.
“Without that permit,” Goldsmith writes, “we simply had no legal way forward to deliver the festival this year.”
More than…
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200 jobs lost, clients left waiting as national truck company goes bust The Australian
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The Borrowers’ Forum is being hailed as a milestone in efforts to reform the international debt architecture, supported by the UN and emerging as a key part of the Sevilla Agreement outcome document.
“This is not just talk – this is execution,” said Egypt’s Minister of Planning and Economic Development, Dr Rania Al-Mashat. “The Borrowers’ Forum is a real plan, driven by countries, to create a shared voice and strategy in confronting debt challenges.”
Rebeca Grynspan, Secretary-General of UN Trade and Development ( UNCTAD ), said developing nations often face creditors as a united bloc while negotiating alone. “Voice is not just the ability to speak – it’s the power to shape outcomes. Today, 3.4 billion people live in countries that…
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There were 407 insolvencies during the first half of 2025, down by one per cent from the same period of last year (412). Insolvencies were spread evenly between the first (206) and second (201) quarters, according to Deloitte.
Creditors’ voluntary liquidation, ie company-led closures, decreased 18 per cent year-on-year from 323 in H1 2024 to 266 in the first six months of this year, but court liquidations more than doubled from 19 to 42.
Revenue was the petitioner in 27 out of 42 or 64 per cent of court liquidations in H1, up from six out of 19 (32 per cent) during the first six months of 2024.
Deloitte attributed the rise to companies being unable to meet phased payment agreements with Revenue as part of the Covid-19 debt…
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NCLT approves Adani Properties’ bid for 2 HDIL assets Press Trust of India
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