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insolvency

RBI wants IBC to replace may with shall to speed up bankruptcy approvals

RBI wants IBC to replace may with shall to speed up bankruptcy approvals

India’s bankruptcy process under the IBC is plagued by long delays, with cases lingering for years. RBI now proposes tightening timelines by changing key wording: moving from “may” to “shall” for whether authorities admit insolvency applications. An amendment bill incorporating the regulator’s suggestions is expected to be tabled in the upcoming budget session.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Centre Ordinance Pushes Pre Packed Insolvency for MSMEs to Speed Restructuring Talks

Centre Ordinance Pushes Pre Packed Insolvency for MSMEs to Speed Restructuring Talks

The Centre has promulgated an ordinance amending the Insolvency and Bankruptcy Code to introduce pre-packaged insolvency for MSMEs. Under the change, a firm prepares a restructuring plan in coordination with creditors before formal insolvency proceedings start. The goal is to reduce delays and overall costs by front-loading negotiations and speeding up resolution.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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IBBI lifts ban allowing one professional to manage firm insolvency and guarantor bankruptcy together

IBBI lifts ban allowing one professional to manage firm insolvency and guarantor bankruptcy together

The IBBI has amended its insolvency regulations to permit the same resolution professional to handle both a distressed firm’s resolution and the bankruptcy proceedings of its personal guarantors. By removing the earlier restriction on dual roles, the watchdog says the move will harmonize timelines, decision-making, and coordination across the two linked processes.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
SBI urges Supreme Court review to save banks as spectrum can no longer be seized

SBI urges Supreme Court review to save banks as spectrum can no longer be seized

State Bank of India has moved the Supreme Court seeking a review of a ruling that bars telecom spectrum from being treated as an asset during insolvency proceedings. SBI warns the decision could sharply weaken recovery prospects for lenders and disrupt infrastructure and telecom financing, arguing the judgment overlooks key issues banks rely on for resolution and recoveries.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
IBC amendment targets faster prepack resolutions for MSMEs with lower costs

IBC amendment targets faster prepack resolutions for MSMEs with lower costs

An amendment to India’s Insolvency and Bankruptcy Code is being proposed to introduce “prepack” resolutions for MSMEs. The alternative framework aims to make insolvency outcomes quicker and more cost-effective than traditional processes, potentially reducing delays and legal expenses for small businesses facing financial stress.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Supreme Court backs IBC as investment engine with time bound insolvency focus

Supreme Court backs IBC as investment engine with time bound insolvency focus

The Supreme Court has emphasized that India’s Insolvency and Bankruptcy Code is designed not just to resolve insolvencies, but to actively promote investment. It highlighted the code’s time bound approach for corporate persons, firms, and individuals, reinforcing that swift resolutions can strengthen investor confidence and improve India’s global appeal.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Adani tells NCLAT lenders back Jeetpakash process not judgeable wisdom as Vedanta counters

Adani tells NCLAT lenders back Jeetpakash process not judgeable wisdom as Vedanta counters

Adani Enterprises has told the NCLAT that the Jaiprakash Associates resolution followed due process, with evaluation metrics disclosed upfront and accepted by bidders. It opposed Vedanta’s late addendum, warning it could undermine process integrity. Adani also argued lender decisions represent commercial wisdom beyond judicial review, as the dispute remains pending before the tribunal.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Jaypee collapse turns into ED arrest as homebuyers money alleged siphoned by Manoj Gaur

Jaypee collapse turns into ED arrest as homebuyers money alleged siphoned by Manoj Gaur

Jaypee Group’s Manoj Gaur has been arrested by the Enforcement Directorate, accused of allegedly siphoning homebuyers’ money. Once a soaring conglomerate that expanded aggressively and reached dizzying heights in the early 2000s, the company now sits in insolvency. The case highlights how financial missteps can rapidly unravel a large business empire.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Gensol twins explore NCLT resolution under IBC as creditors brace for next steps

Gensol twins explore NCLT resolution under IBC as creditors brace for next steps

Gensol twins are reportedly considering a move to the NCLT to seek resolution under India’s Insolvency and Bankruptcy Code. Analysts say pursuing IBC options could benefit the company and its broader stakeholder base, including lenders and other creditors, by enabling a structured resolution process. The next decision could determine how claims and revival plans play out.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
NCLT adds 20 members as Supreme Court cracks down on IBC delays and timelines

NCLT adds 20 members as Supreme Court cracks down on IBC delays and timelines

With the Supreme Court sharply targeting procedural delays in IBC cases, attention is turning to how tribunals function in practice. NCLT is set to strengthen capacity with 20 new members across 16 benches, aiming to speed up case disposal and cut pendency. The push comes as stakeholders expect better timeline adherence and faster outcomes.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Go First fix India eases grounded aircraft rules under Cape Town but lessors still fear gaps

Go First fix India eases grounded aircraft rules under Cape Town but lessors still fear gaps

India notified final Cape Town Convention rules on January 30, a move meant to help global aircraft lessors recover planes if airlines enter insolvency, as seen in the Go First case. While the update strengthens enforcement pathways to reclaim grounded aircraft, uncertainty remains around how fully the legal framework will protect lessors in practice.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Adani picked to carry Jaiprakash Associates forward as Jaiprakash Gaur backs the process

Adani picked to carry Jaiprakash Associates forward as Jaiprakash Gaur backs the process

Jaiprakash Gaur says the Adani Group will carry Jaiprakash Associates Limited forward after being selected the successful resolution applicant. Gaur expressed respect for the Committee of Creditors decision and called the insolvency process fair and transparent. He added that efforts were made to secure a credible resolution for all stakeholders following the company’s financial stress and entry into insolvency proceedings.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Orissa HC rules director can face criminal case for missing Rs 15 lakh PF deductions

Orissa HC rules director can face criminal case for missing Rs 15 lakh PF deductions

The Orissa High Court allowed a criminal case to continue against a company director accused of not depositing Rs 15 lakh deducted from employees’ salaries for provident fund. The director argued that the firm later became insolvent and the dues were subsequently cleared. The court said later payment does not erase criminal liability for the original failure.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Vedanta challenges Adani bid for Jaiprakash Associates raising questions over evaluation metrics

Vedanta challenges Adani bid for Jaiprakash Associates raising questions over evaluation metrics

Vedanta Group has moved to challenge the insolvency outcome that selected Adani Enterprises’ bid for Jaiprakash Associates Ltd. Vedanta says its offer was higher, but the insolvency appellate tribunal will review whether lenders used correct evaluation metrics. Lenders argue several factors shaped the choice, while Jaiprakash’s value spans real estate, cement, and hospitality assets.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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NCLT contempt order could finally unblock Jyoti Structures revival after four years of delay

NCLT contempt order could finally unblock Jyoti Structures revival after four years of delay

Jyoti Structures’ insolvency resolution has been stuck for years because lenders did not act on bank guarantees worth over INR 1,350 crore. Now, an NCLT contempt order against the banks could compel compliance and allow the firm’s resolution plan to be implemented more fully, potentially restarting a stalled revival timeline that has dragged close to a decade.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Supreme Court clarifies insolvency law is not debt recovery and warns against misuse

Supreme Court clarifies insolvency law is not debt recovery and warns against misuse

The Supreme Court reiterated that India’s insolvency framework under the IBC is not meant for routine debt recovery. It cautioned that insolvency proceedings carry serious consequences and should be invoked only where there is genuine financial hardship, not as a convenient alternative to recover dues. The ruling is expected to shape how courts assess misuse of insolvency filings.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Centre issues MSME prepackaged insolvency framework but key thresholds still missing

Centre issues MSME prepackaged insolvency framework but key thresholds still missing

The Centre has notified a framework for prepackaged insolvency resolution for MSMEs under the Insolvency and Bankruptcy Code. However, it has not yet set or notified the threshold amounts needed to trigger prepackaged insolvency. The move provides a legal pathway, but businesses may still face uncertainty until the key thresholds are announced.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
NCLAT hears claim Vedanta was never declared highest bidder for Jaiprakash Associates

NCLAT hears claim Vedanta was never declared highest bidder for Jaiprakash Associates

In the insolvency case of Jaiprakash Associates, the resolution professional told the NCLAT that Vedanta was never formally declared the highest bidder. The only evidence cited was an email showing the highest financial value discovered, not an official bid award. Vedanta’s petition is being argued as lacking legal and factual backing.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Govt mulls IBC operational overhaul as experts push AI and virtual creditor meetings

Govt mulls IBC operational overhaul as experts push AI and virtual creditor meetings

India’s government is considering operational changes to the Insolvency and Bankruptcy Code after an expert panel’s recommendations. The panel urges broader use of digital tools— including virtual meetings of the committee of creditors and deployment of AI—arguing they save time and can remain even once normal operations fully resume.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
ReaRCo acquires KV Developers saving nearly 400 Greater Noida homebuyers from a stalled project

ReaRCo acquires KV Developers saving nearly 400 Greater Noida homebuyers from a stalled project

ReaRCo Private Limited has acquired KV Developers via the insolvency process, offering relief to around 400 homebuyers in Greater Noida. The firm secured Rs 195 crore from the SWAMIH Fund to restart work on a stalled project. Construction is now underway on five towers, and dues to lenders and the development authority have been cleared, with possession expected by year-end.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
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