NATIONAL COMPANY LAW TRIBUNAL NCLT
NCLT admits insolvency case against Blu-Smart Mobility Tech
The National Company Law Tribunal has admitted an insolvency case against Blu-Smart Mobility Tech. This follows a plea from Lepton Software Export and Research over unpaid dues. The tribunal has appointed an interim resolution professional and suspended the company's board. Blu-Smart Mobility is now under moratorium protection. The company's operations and subsidiaries are intertwined.
NCLT set aside insolvency plea against ZTE filed by TVS Supply Chain
The National Company Law Tribunal (NCLT) dismissed an insolvency plea against ZTE Telecom India, filed by TVS Supply Chain Solutions. The tribunal cited a pre-existing dispute over Rs 4.27 crore, dating back to 2017, which was under reconciliation and audit objections. NCLT emphasized that insolvency proceedings cannot be used to recover disputed claims.
Texas on edge? Governor deploys National Guard ahead of massive ‘No Kings’ Austin protest. What does it mean?
A 'No Kings' protest against perceived authoritarianism and threats to democracy is scheduled in Austin, drawing tens of thousands. Governor Abbott activated the National Guard, citing concerns about an 'antifa-linked demonstration,' though Mayor Watson clarified their deployment would be for emergencies only. Organizers state the protests target the Trump administration's policies.
Bankruptcy court approves Future Supply Chain Solutions’ acquisition by Reliance Retail
Mumbai bankruptcy court approved Reliance Retail Ventures' resolution plan for Future Supply Chain Solutions. Secured lenders overwhelmingly backed the Rs 170 crore acquisition, paving the way for the logistics firm to join the Reliance group. This approval ensures continuity of existing licenses and authorizations for the company.
The other side of bonus but not equity
TVS Motor Company Limited has made headlines by securing approval for the issuance of preference shares as bonus shares, a strategy that's quite rare among businesses. This approach presents a dual advantage, combining fixed-income benefits with enhanced organisational flexibility. Companies might leverage this option as a means to reward loyal shareholders.
Torrent Pharma plans Rs 14,000 crore bond sale for JB Chemicals acquisition
Torrent Pharmaceuticals is planning a ₹14,000-crore bond sale to finance its acquisition of JB Chemicals & Pharmaceuticals. The company is in discussions with major banks for the funding package, which will be repaid through internal accruals. The proposed merger is awaiting regulatory approvals.
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Bankruptcy court admits IDBI Bank’s insolvency resolution plea against Wind World arm
The National Company Law Tribunal has ordered the corporate insolvency resolution process (CIRP) against Wind World (India) Infrastructure following a default on dues to IDBI Bank. The company, a subsidiary of the already distressed Wind World India Limited, argued its revenue source was cut off by its parent's resolution professional.
NCLAT rejects Korea trade insurance insolvency plea
The National Company Law Appellate Tribunal has dismissed an insolvency appeal. Korea Trade Insurance Corporation filed the appeal against Amrit Polychem. The tribunal upheld a previous order from the National Company Law Tribunal. This decision was made because a dispute already existed between the parties. Korea Trade Insurance Corporation was aware of this dispute before taking over from JT Corporation.
NCLT dismisses shareholder oppression case against Jindal Poly group company
The National Company Law Tribunal (NCLT) has dismissed a lawsuit filed by minority shareholders seeking a forensic audit of Universus Photo Imaging, a Jindal Poly Films group firm. The shareholders alleged oppression and mismanagement regarding dilution of ownership in packaging film assets acquired from Exxon Mobil.
ED restores Rs 175-cr worth assets to distressed homebuyers; SC praises its initiative
The Enforcement Directorate has restored flats, commercial units, and plots worth Rs 175 crore to over 200 homebuyers after a 12-year wait. This action follows a Supreme Court directive to protect the interests of genuine homebuyers caught in prolonged legal proceedings related to a money laundering investigation.
Law ministry launches 'live cases' dashboard to keep track on govt litigation
The Union Ministry of Law and Justice has unveiled a live cases dashboard. This digital tool, part of the Legal Information Management and Briefing System, tracks government court cases. It aims to boost transparency and efficiency in managing legal matters. The system currently monitors over seven lakh live cases. This initiative supports Prime Minister Narendra Modi's call to reduce litigation.
Water crisis hits Delhi’s top malls; DLF Promenade, Emporio, Ambience shut half their washrooms
Delhi's prominent malls, DLF Promenade, DLF Emporio, and Ambience Mall, reportedly faced a severe water shortage after a ban on private water tankers, leading to the closure of half their washrooms. While DLF denied disruptions, citing robust contingency measures, other city areas also experienced shortages due to suspended Ganga water supply.
Embassy Developments promoters complete ₹1,160 crore fund infusion to strengthen balance sheet and drive growth
Embassy Developments promoters have infused ₹1,160 crore through warrant subscriptions. This strengthens the company's financial position. Funds will aid ongoing projects and future growth in Bengaluru, Delhi NCR, and Mumbai Metropolitan Region. Embassy Group is now the promoter with a 41.4% stake following a merger. The company was renamed Embassy Developments Limited.
Noida Authority to name and shame builders over unpaid dues; boards installed outside defaulting projects
Noida Authority is now publicly displaying boards outside housing projects with significant land dues, a move aimed at compelling defaulting builders to settle. This initiative, part of a larger recovery drive, has drawn protests from residents who fear it could disrupt ongoing revival efforts under NCLT proceedings.
Allcargo Logistics gets NCLT approval for restructuring plans
Allcargo Logistics has received NCLT approval to demerge its international supply chain business into a new listed entity, Allcargo Global Limited. This restructuring will create four distinct listed strategic business undertakings, enhancing focus and efficiency for both international and domestic operations. Shareholders will receive shares in the new entity on a 1:1 basis.
Delhi HC says PFI's plea challenging tribunal order upholding Centre's ban maintainable
The Delhi High Court has deemed the Popular Front of India's plea against its five-year ban as maintainable. The court has issued a notice to the Centre, seeking a response within six weeks. The PFI will file its rejoinder in two weeks. The matter is scheduled for further hearing on January 20, 2026.
NCLT extends Punj Lloyd's liquidation by 6 months
The insolvency tribunal NCLT has granted Punj Lloyd an extension for its liquidation process. The deadline is now March 12, 2026. This decision supports the completion of critical national projects. A sale of Punj Lloyd as a going concern is expected to maximize value. The company's skilled workforce and experience are key factors.
Tata Motors says commercial vehicles unit to be renamed as Tata Motors Limited
Tata Motors is undergoing a significant restructuring. TML Commercial Vehicles Limited will become Tata Motors Limited. This change is part of a larger scheme of arrangement. The commercial vehicles business is being demerged. The passenger vehicle arm is merging into the parent company. Shareholders will receive new shares in TMLCV. The stock exchange listing will follow.
HNGIL revival kicks off with Kolkata as Madhvani Group's INSCO takes charge
Uganda's Madhvani Group, through INSCO, has successfully acquired Hindustan National Glass & Industries Ltd (HNGIL) for Rs 2,250 crore. New chairman Shrai Madhvani visited Kolkata facilities, outlining a revival plan with Rs 1,000 crore capex for modernization and diversification. Employees express optimism about the group's global turnaround expertise.
Bankruptcy court approves KGS Sugar & Infra Corporation’s acquisition by Grainotch Industries
The National Company Law Tribunal has approved Grainotch Industries' takeover of KGS Sugar Infra Corporation. KGS Sugar faced insolvency with liabilities of Rs 556 crore. Grainotch's plan includes a Rs 242 crore revival package. This acquisition signals growing investor interest in distressed manufacturing assets in India. The plan aims to settle dues and restart operations.
Vedanta extends deadline for demerger to March next year
Vedanta Ltd has extended the deadline for its planned demerger to March 31, 2026, citing pending approvals from the National Company Law Tribunal (NCLT) and other government authorities. The Anil Agarwal-led firm had earlier shifted the timeline from March 2025 to September 2025.
Bombay HC dismisses Anil Ambani’s plea against SBI classifying his loan account as fraud
The Bombay High Court dismissed Anil Ambani's plea challenging SBI's classification of his and Reliance Communications' loan accounts as "fraud" on June 13, 2025. Ambani argued a lack of natural justice, but the court upheld the re-classification, which followed a previous reversal and a Supreme Court mandate for borrower representation. SBI has significant credit exposure to RCom.
SKF India group to invest up to Rs 1,460 cr on automotive, industrial verticals by 2030
Auto components major SKF India is investing up to Rs 1,460 crore by 2030 following its demerger into separate automotive and industrial entities. The industrial arm, SKF India (Industrial) Ltd, plans Rs 800-950 crore for a new Pune plant and expansion, while SKF Automotive will invest Rs 410-510 crore to boost capacity for India's evolving mobility sector.
Baijayant Panda to head Select Committee on Insolvency and Bankruptcy Code Amendment Bill 2025
BJP leader Baijayant Panda was appointed Chairman of the Select Committee formed to examine the Insolvency and Bankruptcy Code (Amendment) Bill, 2025. This 24-member committee, drawn from the Lok Sabha, includes prominent figures such as Dr. D. Purandeswari, Karti P. Chidambaram, and Supriya Sule, tasked with scrutinizing the crucial legislation.
Tata Motors shares rally 5% as demerger takes effect; record date announced
Tata Motors shares rose sharply after the company’s demerger took effect from October 1, with October 14 set as the record date for shareholders. The restructuring, involving TML Commercial Vehicles and passenger vehicles, aims at a sharper business focus and unlocking long-term value.
Vedanta demerger date moved to March 2026 pending government approval
Vedanta Ltd has extended its demerger deadline to March 2026 from September 2025, citing pending NCLT and government approvals. This strategic move aims to unlock greater value by creating four standalone companies. The company recently received a boost when NCLAT allowed TSPL's separation, following a settlement with a Chinese contractor.
Tata Motors demerger effective from tomorrow. What is known so far on record date, listing timeline
Tata Motors’ demerger of its passenger and commercial vehicle businesses takes effect from October 1. Shareholders will receive TMLCV shares, with the CV business expected to list in November, aiming to unlock value and provide both units with greater strategic focus amid JLR challenges.
NCLAT sets aside Future Consumer's plea for insolvency against Aussee Oats
New Delhi's NCLAT rejected Future Consumer Limited's insolvency appeal against Aussee Oats Limited. The tribunal upheld the Mumbai NCLT's earlier decision. Future Consumer claimed over one crore rupees from Aussee Oats. However, NCLT observed a set-off in financial statements, showing no debt payable. A dispute between the parties was also noted.
NCLT approves merger of Star Television Productions with Jio Star
Jio Star India, a joint venture between Reliance Industries Ltd (RIL) and Disney, was created in November 2024 through the merger of Star India and Viacom18. The combined company was valued at $8.5 billion. In its September 26 order, the tribunal approved the merger under sections 230–232 of the Companies Act, calling it “fair, reasonable and not in violation of any provisions of law”.
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