When Indian education-technology company Byju’s was ordered last year to freeze over $500 million as part of a U.S. court battle with its lenders, it said the funds were safely within the business, WSJ Pro Bankruptcy reported. Byju’s by that time had already moved the half-billion dollars out of the U.S. through transactions involving a little-known hedge fund that were obscured in financial statements showing the cash sitting in its accounts, court records show.

A consortium of Indian banks, led by State Bank of India, on Wednesday (April 9, 2025) won their court appeal in London to uphold a bankruptcy order against Vijay Mallya in a long-standing legal battle seeking repayment of a judgment debt owed by his now-defunct Kingfisher Airlines, TheHindu.com reported. High Court judge Anthony Mann ruled in favour of the banks to allow an appeal heard in February, while refusing two applications seeking permission to appeal filed by the 69-year-old businessman, declared a fugitive and wanted for fraud and money laundering charges in India.

The Reserve Bank of India (RBI) lowered its key repo rate on Wednesday for a second consecutive time and changed its monetary policy stance signaling room for more cuts ahead, as it seeks to boost the sluggish economy in the face of fresh U.S. tariffs, Reuters reported. India became the second central bank after the Reserve Bank of New Zealand to cut interest rates since the wide-ranging trade levies were announced. The tariffs have raised the risk of a global slowdown and a U.S.

The National Company Law Appellate Tribunal (NCLAT) on Monday dismissed the plea of IDBI Bank which sought to initiate insolvency proceedings against Zee Entertainment, the Economic Times of India reported. A two-member NCLAT bench upheld the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT), which had earlier rejected the private lender's plea to initiate insolvency proceedings against Zee Entertainment Enterprises Ltd (ZEEL).

IL&FS has requested an extension from the National Company Law Appellate Tribunal (NCLAT) to resolve 57 out of the 108 entities still in limbo, citing substantial progress in its ongoing restructuring, the Times of India reported. In its affidavit, the company reported that it has successfully resolved 197 of its 302 subsidiaries, which are no longer part of the insolvency process. To date, lenders have recovered Rs 45,000 crore of the Rs 99,000 crore owed, while the recovery target has been increased to Rs 61,000 crore.

The National Company Law Tribunal (NCLT) Delhi on Thursday dismissed an insolvency plea filed against food delivery giant Zomato by uniform supplier Nona Lifestyle over an alleged payment default of ₹1.64 crore, LiveMint.com reported. The NCLT dismissed the insolvency plea against Zomato on procedural grounds, citing non-compliance with the Insolvency and Bankruptcy Code (IBC). The tribunal ruled that Nona Lifestyle had failed to properly serve the mandatory notice under Section 8 of the IBC before filing the case.

Bombay high court said the developer cannot use the insolvency law as a tool to escape the consequences of failure to execute a slum rehabilitation scheme fully and can be removed by the SRA—Slum Rehabilitation Authority (SRA), the Times of India reported. Builder’s appointment can be terminated despite a resolution plan (RP) in place under Insolvency and Bankruptcy Code (IBC) proceedings, the HC said, except it cannot be done to recover “prior debts’’.

Business conglomerate Vedanta Group has shown interest in acquiring Jaiprakash Associates Ltd (JAL) through an insolvency process, according to sources. Jaypee Group's flagship firm JAL, which is into cement, power, hotels, construction and real estate businesses, has been admitted into the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016, through an order dated June 3, 2024, passed by the National Company Law Tribunal, Allahabad Bench, the Economic Times of India reported.