India’s central bank surprised markets with a jumbo rate cut, seizing on cooling inflation to frontload monetary easing and bolster economic growth amid heightened global uncertainty, the Wall Street Journal reported. The Reserve Bank of India’s monetary policy committee voted Friday to lower the benchmark repo rate to 5.50% from 6.00%. The 50-basis-point cut is the central bank’s largest since March 2020, at the height of the pandemic. India’s growth-inflation dynamics call for frontloading rate cuts to support growth, RBI Gov.

In a significant relief for Reliance Infrastructure, the National Company Law Appellate Tribunal (NCLAT) on Wednesday stayed the insolvency proceedings initiated against the company, the Times of India reported. In a regulatory filing, Reliance Infrastructure confirmed that the appellate tribunal has suspended the earlier order passed by the National Company Law Tribunal (NCLT), Mumbai. "In the appeal filed, the NCLAT, today has suspended the Order dated May 30, 2025 passed by National Company Law Tribunal, Mumbai in case no. C.P.

The Supreme Court has refused to stay the insolvency proceedings initiated against Future Ideas Company Ltd (FICL), a part of the erstwhile Kishore Biyani-led Future Group. However, it sought response from Axis Trustee Services and resolution professional Ritesh Agarwal on an appeal by Anil Biyani, the suspended director of FICL, the Economic Times of India reported. A Bench led by Justice Sanjay Karol posted the matter for further hearing on August 8.

The National Company Law Tribunal (NCLT) on Tuesday issued notices to electric vehicle (EV) ride-hailing startup BluSmart Mobility Ltd and Gensol Engineering Ltd on three new insolvency petitions by financial creditors over alleged unpaid dues, LiveMint.com reported. Spectrum Trimpex Pvt. Ltd and Catalyst Trusteeship Ltd moved the tribunal under Section 7 of the Insolvency and Bankruptcy Code (IBC) against BluSmart over unpaid dues worth ₹1 crore each. Equentia Financial Services Pvt. Ltd claimed that Gensol Engineering owed it around ₹9 crore.

The Mumbai bench of the National Company Law Tribunal (NCLT) has admitted Anil Ambani-promoted Reliance Infrastructure Ltd. under the corporate insolvency resolution process (CIRP) and has appointed Tehseen Fatima Khatri as the interim resolution professional (IRP), the Economic Times of India reported. The development followed an application filed by IDBI Trusteeship Services Ltd on behalf of the operational creditors. The trustee company had approached the tribunal after the company defaulted on its dues of more than Rs 88 crore.

Builder.ai, the artificial intelligence startup that recently announced plans to declare bankruptcy, faked business with the Indian social-media startup VerSe Innovation for years to falsely inflate its sales, according to documents reviewed by Bloomberg and people with direct knowledge of the practice. The two companies routinely billed one another for roughly the same amounts between 2021 and 2024, documents reviewed by Bloomberg show, as part of an alleged practice known as "round-tripping" that the people said Builder.ai used to inflate revenue figures it presented to investors.