TVS Supply Chain Solutions has moved appellate tribunal NCLAT, challenging an NCLT order which had rejected its plea to initiate insolvency against the Indian unit of telecom gear manufacturer ZTE, the Economic Times of India reported. The NCLAT registrar has accepted the request of TVS Supply Chain for more time to cure defects in the plea, which was accepted by it on Thursday. It also directed that the plea be listed before a bench for hearing.

The National Company Law Appellate Tribunal (NCLAT) has set aside an appeal by SEBI, where the markets regulator had asked the tribunal to recover the penalty imposed by it against an entity related to the diversion of funds in the Religare Finvest matter, saying such claims cannot be filed once the liquidation process begins under IBC, the Economic Times of India reported.

Mexico's decision to raise tariffs as high as 50% will affect $1 billion worth of shipments from major Indian car exporters, including Volkswagen and Hyundai, despite industry lobbying to persuade New Delhi to prevent such a move, according to two sources and a letter from an industry group reviewed by Reuters. Mexican President Claudia Sheinbaum's government approved on Wednesday raising import tariffs next year on hundreds of items from countries it does not have trade agreements with, including China and India, to protect local jobs and manufacturing. But the move also comes amid U.S.

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.