Reliance Communications (RCom) has accused Swedish telecom giant Ericsson of misusing India’s Insolvency and Bankruptcy Code (IBC) as a coercive tool for debt recovery, ElectronicsforYou.biz reported. The allegation was made before the National Company Law Tribunal (NCLT) in Mumbai, where RCom is seeking a refund of ₹550 crore paid to Ericsson under a 2018 settlement. Senior counsel Gaurav Joshi, appearing for RCom, argued that the IBC was being misapplied by Ericsson as a substitute for debt enforcement.

India expects consumption tax cuts announced by Prime Minister Narendra Modi will give a boost to the economy without hurting the government’s fiscal deficit, helping to offset the fallout from higher U.S. tariffs, Bloomberg News reported. Officials in New Delhi said on the weekend that the proposed changes to the goods and services tax — which will see the number of tax categories reduced to two from four — would benefit a broad range of sectors, including consumers and small businesses.

The Indian government on Tuesday introduced the Insolvency & Bankruptcy Amendment Bill in Lok Sabha, with reforms that are intended to speed up the insolvency process. The reforms are related with group insolvency, credit-led resolution, and cross-border framework. The legislation proposes amendments in Section 7 of the current law, that deals with mandatory admission of insolvency if default confirmed and conditions met. Finance Minister Nirmala Sitharaman, while introducing the bill, said it aims to reduce delays, boost value, and improve governance.

BluSmart, the electric cab firm, is grappling with a complex insolvency case that began on July 29, 2025, when the National Company Law Tribunal (NCLT) admitted a petition from a creditor, ElectronicsForYou.biz reported. The case has uncovered major challenges in valuing the company’s assets, particularly its fleet of electric vehicles (EVs) and proprietary technology, which are locked within subsidiaries not automatically included in the insolvency process.

In a key development under Jet Airways’ ongoing insolvency proceedings, global alternative investment major Brookfield Asset Management has acquired an additional office floor in commercial tower Godrej BKC in Mumbai's business district Bandra-Kurla Complex for Rs 370.25 crore, the Economic Times of India reported. The sale was conducted under the Insolvency and Bankruptcy Code (IBC) and overseen by the National Company Law Tribunal (NCLT).

About 55% of India's merchandise exports to the United States will be subject to the tariff imposed by President Donald Trump's administration, the Indian government said on Monday, Reuters reported. Last week, Trump imposed an additional 25% tariff on Indian goods as punishment for Delhi's purchases of Russian oil. That raised the total duty on Indian exports to the U.S. to 50% - among the highest on any American trading partner.

India’s growth outlook has been weighed by President Trump’s punitive tariff on the South Asian economy but there’s still hope negotiations will ease the impact, the Wall Street Journal reported. Trump on Wednesday said that Indian imports would be hit with an extra 25% levy as punishment for buying Russian oil, on top of a 25% tariff that had been previously announced. Indian exports to the U.S. now face a hefty 50% tariff, jolting longstanding efforts by both Washington and New Delhi to deepen ties in a bid to counter China’s growing influence in the Indo-Pacific.

The National Company Law Appellate Tribunal (NCLAT) on Tuesday barred the interim resolution professional (IRP) of bankrupt Gensol Engineering Ltd from leasing out 152 electric vehicles (EVs), following a plea by SMAS Auto Leasing India Pvt. Ltd, which had originally leased the vehicles to Gensol before it entered insolvency, LiveMint.com reported. The order came after the IRP issued a public notice inviting bids to lease pre-owned EVs at a fixed monthly rental, prompting SMAS to move the appellate tribunal.