CORPORATE INSOLVENCY RESOLUTION PROCESS
JSW, Vedanta, Adani among companies keen to buy GVK Energy's asset
JSW Energy, Adani Power, and Vedanta are among the companies vying for GVK Energy's 330 MW Alaknanda hydro power project in Uttarakhand, as insolvency proceedings against GVK Energy move forward. Several other firms, including Torrent Power and Jindal Steel & Power, have also expressed interest in acquiring the plant.
Vedanta shares in focus as co emerges as highest bidder for Jaiprakash Associates
Vedanta Share Price: Vedanta emerged as the highest bidder for debt-laden Jaiprakash Associates with an NPV offer of Rs 12,505 crore. The plan involves a Rs 4,000 crore upfront payment and staggered payouts over five to six years. The company’s bid beat out other competitors, including Adani Group, Dalmia, Jindal Power, and PNC Infratech, in a challenge process conducted by the resolution professional.
Jaiprakash Associates bid: Vedanta offers Rs 4,000 cr upfront payment, rest over 5-6 years
Vedanta Ltd has emerged as the highest bidder for debt-ridden Jaiprakash Associates Ltd (JAIL), offering a net present value of Rs 12,505 crore. The payment will be staggered, with Rs 4,000 crore paid post-NCLT approval and the balance over 5-6 years. This acquisition complements Vedanta's existing businesses and leverages JAL's assets in power, real estate, and mining.
Maharashtra plans corporate-style revamp of govt resolutions to make them citizen-friendly
The Maharashtra government is planning a corporate-style makeover for its government resolutions (GRs), replacing legal text with attractive presentations. This redesign aims to make the documents more accessible and easier to understand for citizens. The initiative includes using bullet points, flowcharts, graphs, and color layouts to avoid misinterpretations and improve public understanding of government decisions.
Vedanta to pour Rs 17,000 cr into Jaiprakash Associates, beats Adani bid
Vedanta won the bid for Jaiprakash Associates with a ₹17,000-crore offer. It outbid Adani Enterprises in the insolvency battle. The deal involves major cement facilities. Only Vedanta and Adani submitted binding offers. Other suitors like Jindal Power and Dalmia Bharat did not participate. The Committee of Creditors will review Vedanta's winning bid. The resolution process for Jaiprakash Associates faced delays.
Experience will Trump youth in AI workplaces
AI's impact on the workforce appears to favor mid-career employees, automating simpler tasks and emphasizing managerial experience for optimal human-digital collaboration. Entry-level technical skills are most vulnerable to displacement, while experienced professionals are crucial for decision-making, process design, and AI training through mentorship. HR must adapt to prioritize strategic skills and experience, potentially reshaping entry-level positions.
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Vedanta beats Adani for acquisition of Jaiprakash Associates
Vedanta Group has emerged as the winning bidder for the debt-ridden Jaiprakash Associates (JAL), surpassing Gautam Adani's Group in a competitive acquisition process. The mining conglomerate's bid of Rs 17,000 crore translated to a net present value of Rs 12,505 crore. JAL, facing insolvency proceedings due to loan defaults, attracted multiple bidders, with Vedanta ultimately securing the deal.
Reliance Power says co has no impact on its biz operations due to Bank of Baroda's action against Anil Ambani & RCom
Reliance Power clarified that Bank of Baroda's action against Reliance Communications, classifying its loan account as fraudulent, will not impact its operations or financial standing. The classification, also naming Anil Ambani, involves loans from a decade ago. Reliance Power emphasizes its independence from Reliance Communications, noting Ambani hasn't been on its board for over three years.
Reliance Communications shares drop 3% after Bank of Baroda classifies Anil Ambani, RCom loan accounts as ‘fraud’
Reliance Communications' shares dipped after Bank of Baroda declared the company's and Anil Ambani's loan accounts as fraudulent. RCom, currently undergoing Corporate Insolvency Resolution Process, stated the classification pertains to pre-CIRP loans. The resolution professional is reviewing avoidance transactions, with applications pending before the NCLT.
Anil Ambani and Reliance Communications' loan accounts declared 'fraud' by Bank of Baroda
Bank of Baroda has declared the loan accounts of Reliance Communications Ltd. and its former director, Anil Ambani, as "fraud." This decision, communicated in a letter dated September 2, 2025, prompted Reliance Communications to announce that it will seek legal counsel to determine its next steps in response to this classification.
Valor Estate may also move NCLT to revise Lavasa offer
Valor Estate is likely to petition the NCLT to revise its resolution plan for Lavasa Corp, following Welspun-Ashdan consortium being permitted to modify their payment timeline. Valor's lawyers objected to Welspun's allegations seeking disqualification of their bid and claimed discriminatory treatment by the RP for denying their request to update the plan.
Lenders of bankrupt Jaiprakash Associates to meet Friday; challenge process among 5 bidders likely
Lenders of Jaiprakash Associates Ltd (JAL), currently undergoing insolvency proceedings, will convene on Friday to discuss the 'challenge process' among five bidders, including Adani Group and Dalmia Bharat, aiming to maximize asset value. This process, with a minimum bid of Rs 12,000 crore, seeks the highest financial proposal.
SC mulls panel to oversee co-developer for Supertech Realtors projects
The Supreme Court is considering forming a committee to oversee the bidding and selection of a co-developer for Supertech Realtors' stalled Supernova project in Noida. This move aims to protect homebuyers' interests amidst insolvency proceedings. The court has asked for suggestions from stakeholders and has restrained the Interim Resolution Professional from finalizing any decisions, emphasizing transparency in the process.
NSE appoints former IFSCA chairman Injeti Srinivas as Public Interest Director
The National Stock Exchange (NSE) has appointed Injeti Srinivas, former chairman of the International Financial Services Centres Authority (IFSCA), as a Public Interest Director on its board.
Forget January — experts say September is the real New Year for life-changing resolutions
People struggle to keep New Year's resolutions. Psychologists suggest September is better. Summer break ends, routines restart, and energy levels rise. This creates a 'fresh start effect'. Good sleep is also important for sticking to goals. Small, consistent steps are more effective than big changes. September offers a calmer, more sustainable time for new habits.
Delhi High Court urges review of govt tender conditions affecting insolvent companies
The Delhi High Court has urged the central government to reconsider its tender conditions that prevent companies undergoing corporate insolvency resolution from participating in government tenders for seven years. The court emphasized that while it cannot alter tender conditions, the government should consider the IBC's objective of reviving distressed companies through successful resolution applicants.
Bankruptcy-bound Supertech gives possession of 6k flats in last 3 years; 15k buyers still stuck
Despite facing insolvency proceedings, Supertech Ltd has delivered 6,121 apartments across 16 projects in the last three years. The company aims to deliver 1,000 more flats in the next three months. Supertech and Apex Heights have jointly submitted a resolution plan to the Supreme Court, with Apex Heights planning to invest ₹500 crore to complete the projects.
Operational creditors trail financial lenders in spurring insolvency cases
Data reveals a shift in insolvency case initiations, with operational creditors now trailing financial creditors for the first time since fiscal 2017, suggesting a growing preference for out-of-court settlements. While financial creditors initiated slightly more cases overall, operational creditors dominated resolutions for smaller defaults, indicating a strategic approach to debt recovery. Cumulatively, creditors recovered ₹3.96 lakh crore in resolved cases.
NCLT admits Canara Bank's insolvency plea against Supreme Infra's Highway SPV
The NCLT has accepted Canara Bank's insolvency petition against Supreme Best Value Kolhapur (Shiroli) Sangli Tollways Pvt Ltd due to a ₹347 crore default. The company, responsible for a road project in Maharashtra, faced delays and disputes with the PWD. The tribunal appointed an interim resolution professional, dismissing the company's arguments about pending arbitration and potential repayments.
Auditor flags Rs 63 crore as potentially fraudulent transactions in HNG
BDO India detected fraudulent transactions worth Rs 63.34 crore under HNG's former management, involving entities like Rafbrix International and Durvish Vyapaar. The NCLT approved INSCO's Rs 2,250 crore resolution plan to revive the debt-ridden glass manufacturer. INSCO will invest upfront cash and modernize equipment, gaining complete control after a monitoring phase.
SC ropes in ex-IB chief Rajiv Jain to examine Supertech insolvency case amid fund diversion allegations
The Supreme Court is seeking assistance from Rajiv Jain to investigate Supertech Realtors' insolvency, following allegations of fund siphoning by director Ram Kishore Arora across 21 projects. The court refused to halt insolvency proceedings, noting widespread investigations into Supertech's projects. Arora is contesting the insolvency, citing a settlement offer, while the Bank of Maharashtra denies any agreement.
NCLT admits AGS Transact for insolvency
AGS Transact Technologies has been admitted into corporate insolvency resolution process (CIRP) by the Mumbai bankruptcy court following a petition from its operational creditor, Securitrans India, due to unpaid dues of ₹2.37 crore. The NCLT has appointed Brijendra Kumar Mishra as the interim resolution professional. AGS Transact, a listed payment solution company, reported a loss of ₹70 crore in FY24.
Adani Group stocks in focus as CCI approves acquisition of Jaiprakash Associates
Adani Share Price: The Competition Commission of India (CCI) has approved Adani Group's acquisition of Jaiprakash Associates Ltd (JAL), a significant step in Adani's infrastructure and real estate expansion. JAL, undergoing insolvency proceedings with substantial creditor claims, possesses extensive assets, including real estate projects, commercial properties, and cement plants. The Committee of Creditors will now review resolution plans.
Grounded Jet Airways to transfer Mumbai office space lease for Rs 370 crore
Jet Airways, currently undergoing liquidation after ceasing operations in 2019, has agreed to transfer the lease of its Mumbai office space to Parthos Properties Pvt Ltd for Rs 370.25 crore. This transfer, subject to MMRDA approval, is being conducted under IBC and Liquidation Regulations following a Supreme Court order for liquidation in November 2024.
CCI approves acquisition of Jaiprakash Associates by Adani Group
The Competition Commission of India (CCI) has approved Adani Entities' acquisition of Jaiprakash Associates (JAL), which is currently undergoing corporate insolvency resolution. This decision follows JAL's default on loan payments and admission into the CIRP by the NCLT. Several other companies, including Dalmia Bharat, had also expressed interest in acquiring the debt-ridden company.
Taxation reforms can help streamline insolvency resolution process: IIIPI study
A report by the Indian Institute of Insolvency Professionals of ICAI (IIIPI) has recommended tax, insolvency, and procedural reforms to improve the insolvency resolution process. Key suggestions include granting tax-neutral status to resolution plans, exempting debt waivers from tax, clarifying treatment of losses and minimum alternate tax, and easing GST rules by allowing seamless input tax credit transfer and waiving legacy liabilities.
NCLAT sets aside plea against Nuvoco Vistas bid for Vadraj Cement
The NCLAT upheld the acquisition of Vadraj Cement by Nuvoco Vistas Corporation, dismissing an appeal by employees regarding gratuity payouts. The appellate tribunal supported the NCLT's approval of Nuvoco's resolution plan, which includes an upfront payment of Rs 1,800 crore. NCLAT noted the plan's value exceeded Vadraj Cement's fair value, with employee payouts aligned with the approved resolution.
Proposed IBC amendments to expedite resolution of stressed companies: IBBI Chairman
Ravi Mital says bankruptcy law changes will speed up stressed company resolutions. Nirmala Sitharaman introduced amendments to the Insolvency and Bankruptcy Code. These amendments include out-of-court processes. They also address cross-border insolvency and corporate group bankruptcy. Mital highlighted delays in admitting insolvency cases. He stressed strong coordination for quicker resolutions. He urged stakeholders to support a stronger insolvency framework.
Insolvency law amendments will help ensure faster resolution process: IBBI Chairperson
IBBI Chairperson Ravi Mital stated that the proposed amendments to the insolvency law will expedite the resolution of stressed assets. The government introduced a bill to amend the IBC, proposing changes to reduce the time for admitting insolvency resolution applications. Mital emphasized the importance of coordination between creditors and resolution professionals for effective insolvency resolution.
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