Delhi-based all-electric taxi service company Evera is in discussions with Gensol’s insolvency resolution professional (IRP) and its committee of creditors (CoC) to lease 1,000 cars from Gensol’s fleet of 4,000 vehicles, which are currently under the National Company Law Tribunal (NCLT), the Economic Times of India reported.

Nearly five years after initiation of insolvency proceedings against the Videocon group, the petroleum ministry Thursday moved the Supreme Court seeking intervention in the case, the Economic Times of India reported. The ministry has sought recovery of $525.62 million towards its "legitimate sovereign claims" against debt-laden Videocon Industries, even as it raised allegations that Vedanta group company Twinstar Technologies' bid has no provision to clear the government's dues.

Appellate tribunal NCLAT has upheld the decision of the National Company Law Tribunal (NCLT) to recall a previous ruling for an insolvency case against real estate firm Logix Infrastructure after finding the debt claim as "fraudulent" and "malicious," the Economic Times of India reported. A two-member NCLAT bench said the plea for CIRP (Corporate Insolvency Resolution Process) against Logix Infrastructure, which was developing the Blossom County project in Noida Sector 137, are based on collusion and are malicious with sufficient material.

Mining giant Vedanta has sought the Competition Commission of India’s approval for its proposal to acquire 100% in stressed infrastructure firm Jaiprakash Associates (JAL), the Economic Times of India reported. Vedanta has emerged as the highest bidder to acquire JAL under the corporate insolvency resolution process (CIRP) with a net present deal value of Rs 12,505 crore, beating Adani Group’s offer. Under the insolvency law, the CCI’s clearance is a must before resolution plans by suitors are approved by the committee of creditors of the stressed company.

In a landmark ruling with wide-ranging implications for the real estate sector, the Supreme Court of India has drawn a clear distinction between speculative investors, whom it described as ‘slow poison’, and genuine homebuyers, the Hindustan Times reported. The court said that speculative investors should not be allowed to misuse the Insolvency and Bankruptcy Code as a recovery tool to seek lucrative returns without any intention of owning a home. It observed that such investors harm the residential real estate sector and, by extension, the Indian middle class.

India and the U.S. will hold trade talks on Tuesday, New Delhi said, raising hopes for a breakthrough weeks after President Donald Trump imposed punitive tariffs on the South Asian nation for buying Russian oil, Reuters reported. The move comes after Trump struck a more conciliatory tone in statements last week and expressed optimism that they could finalise a trade deal. The U.S. trade representative for South Asia, Brendan Lynch, will be in New Delhi for one day of talks, Indian chief negotiator Rajesh Agarwal said.

The Supreme Court on Friday suggested major reforms in the Insolvency and Bankruptcy Code "to restore faith in the regulatory and insolvency framework,” even as it urged the government to come up with a revival fund to provide financing for stressed real estate projects undergoing insolvency proceedings, the Economic Times of India reported.

IDBI Bank has once again dragged Zee Entertainment Enterprises to the insolvency court. It has filed a fresh application before the Mumbai bench of the company law tribunal to initiate insolvency proceedings against Zee for a default of Rs 225 crore, the Times of India reported. Zee has disputed the bank's claim, terming it meritless and an abuse of the legal process.