Billionaire Gautam Adani–promoted Adani Enterprises Ltd on Monday submitted its resolution plan of over ₹15,000 crore for bankrupt Jaiprakash Associates Ltd (JAL) before the Allahabad Bench of the National Company Law Tribunal (NCLT), seeking final approval under the Insolvency and Bankruptcy Code (IBC), LiveMint.com reported. The plan was placed before the bench by resolution professional Bhuvan Madan, following its approval by the Committee of Creditors (CoC) in November.

When India's Insolvency and Bankruptcy Code was introduced in 2016, it replaced a fragmented web of recovery laws with a single economic logic: fast resolution would preserve value. Nearly a decade later, the Parliamentary Standing Committee on Finance has concluded that each of the Code's core pillars, speed, certainty and creditor control, is now under strain, the Economic Times of India reported. Over 30,600 insolvency cases are pending before the National Company Law Tribunal, which operates with only about 30 fully functional benches.

Yatra Online Limited announced a significant development regarding its wholly-owned subsidiary, TSI Yatra Private Limited, which was previously under Corporate Insolvency Resolution Process (CIRP), TipRanks.com reported. Following a settlement agreement with Ezeego Travels & Tours Ltd., TSI has resolved its financial dispute, leading to the withdrawal of insolvency proceedings. The National Company Law Appellate Tribunal (NCLAT) has directed the refund of a deposit made by TSI and the filing of a withdrawal application for the CIRP.

India’s rupee slipped to yet another fresh low on Wednesday, pressured by capital outflows and continued uncertainty about a trade deal with the U.S., the Wall Street Journal reported. While most other countries in the region have negotiated pacts with the Trump administration, a India-U.S. agreement remains in limbo. Washington has slapped hefty 50% tariffs on India’s goods, and it remains unclear how much progress has been made after various rounds of talks. The Indian currency has plumbed a series of new lows versus its U.S.

The parliamentary standing committee on finance has called on the government to consider setting up special fast-track courts for a fixed time, on top of bolstering the National Company Law Tribunal (NCLT) strength, to cut massive case backlogs and expedite the rescue of insolvent companies, the Economic Times of India reported.

S&P Global Ratings on Wednesday revised up its jurisdiction ranking assessment for India's insolvency regime on improved creditor-friendliness of India's bankruptcy resolution framework, the Economic Times of India reported. S&P said the Insolvency and Bankruptcy Code (IBC) has strengthened credit discipline and tilted the resolution process in favour of creditors, with promoters potentially risking losing control of their business, unlike under earlier resolution regimes.

The Enforcement Directorate has said that realty developer Experion Developers misused the provisions of the Insolvency and Bankruptcy Code in acquiring 9.3 acres of land in Sector 62 of Gurugram, the Economic Times of India reported. While investigating a Prevention of Money Laundering Act (PMLA) case against Religare Finvest, the ED had attached assets belonging to the corporate debtor, Dignity Buildcon, which was later acquired by Experion.

Appellate tribunal NCLAT has rejected a plea against Voltas, which sought to initiate insolvency proceedings against the Tata Group firm by one of its operational creditors, the Economic Times of India reported. A two-member NCLAT bench has upheld the earlier orders of the Mumbai-bench of the National Company Law Tribunal (NCLT), which had on May 27, 2025 rejected the petition on the grounds of a pre-existing dispute.

The new bench of the National Company Law Tribunal (NCLT) has admitted Katra Realtors under the corporate insolvency resolution process (CIRP) following an application filed by IL&FS Financial Services Ltd., the Economic Times of India reported. Delhi-based Katra Realtors was a corporate guarantor to listed real estate developer Ansal Properties and Infrastructure (Ansal API), which is also currently undergoing an insolvency resolution process.

A U.S. bankruptcy court has held Byju’s founder, Byju Raveendran, in default and ordered him to pay more than $1 billion after ruling that he obstructed discovery in the case involving the missing Alpha Funds, the Economic Times of India reported. The court issued the default ruling after finding that Raveendran consistently ignored orders and failed to participate in the proceedings, following a motion for default that the lenders filed on August 11. “The court acknowledges that the relief granted herein is extraordinary.