New Delhi, The National Company Law Appellate Tribunal (NCLAT) has said the moratorium available to companies undergoing insolvency proceedings cannot be used to shield assets alleged to be proceeds of crime, while upholding actions taken by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA) against Siddhi Vinayak Logistics Ltd. The appellate tribunal said if there has been any attachment by the ED, then the adjudicatory mechanism created under the PMLA alone will have jurisdiction to deal with it.

India's bankruptcy watchdog yesterday proposed a raft of steps, including the exclusion of completed or unaffected housing projects from the rescue process with financial creditors' approval, as it sought to streamline regulations and expedite insolvency resolution in the real estate sector. In a discussion paper, the Insolvency and Bankruptcy Board of India (IBBI) also sought to ring-fence project-wise sash flows to curb diversion or misuse of funds.

Deutsche Bank said on Tuesday that ​Kotak Mahindra Bank would acquire its ‌retail banking and wealth management business in India, as the German bank aims to ​streamline operations and redeploy capital, Reuters reported. Kotak Mahindra ​said the price was around $30 million. The business ⁠with around 1,000 employees comprises around €2.7 ​billion ($3 billion) in loans and serves 150,000 ​customers, Deutsche Bank said.

Leader of the Opposition (LoP) in the Bihar Legislative Assembly Tejashwi Yadav on Sunday, June 28, criticised the Samrat Choudhary-led National Democratic Alliance (NDA) government, claiming it to be “on the verge of bankruptcy,” The Hindu reported. The Rashtriya Janata Dal (RJD) leader also hit out at the CM over the alleged tender scam.

A U.S. judge ordered the Justice Department on Friday to justify its ‌decision to drop criminal charges against Indian billionaire Gautam Adani, ‌declining to rule immediately on Adani's lawyers' request earlier in the week to ​formally dismiss the case, Reuters reported. Adani was charged in 2024 with agreeing to bribe Indian government officials so a subsidiary of his Adani Group could win approval to develop a solar plant, and then misleading U.S. investors ‌by providing reassuring information ⁠about his company's anti-corruption practices.

The National Company Law Appellate Tribunal (NCLAT) has stayed the insolvency proceedings against Vikram Solar till the next date of hearing, the company said in a regulatory filing, the Economic Times of India reported. The company did not inform about the next date of the hearing. The Kolkata-bench of the National Company Law Tribunal (NCLT), on June 19, ordered the initiation of the Corporate Insolvency Resolution Process (CIRP) against Vikram Solar after admitting a plea of its operational creditor, Isitva Steels.

India and the United States discussed pathways to conclude an interim trade deal, the Indian government said in a ‌statement on Wednesday, after talks between its trade minister Piyush Goyal and U.S. Trade ‌Representative Jamieson Greer, Reuters reported. Greer, the top U.S. trade diplomat, is in India for two-day talks over a deal seen as crucial to ​mending bilateral ties amid diplomatic tensions. His trip follows the first meeting in more than a year between Prime Minister Narendra Modi and U.S. President Donald Trump on June 17 on the sidelines of the G7 summit.

India's central bank has proposed rules requiring banks ‌to strengthen oversight of risks tied ‌to AI and machine-learning models, mandating board-approved policies, stronger controls ​and model inventories, Reuters reported. The Reserve Bank of India said banks must put in place a board-approved risk management framework covering all models, including those ‌for AI and ⁠machine-learning. Regulated entities must assess risk at both the individual model level and ⁠across the enterprise on an ongoing basis, the RBI said.