The NCLT on August 26 approved Essel Group founder Subhash Chandra's repayment plan of Rs 6.5 crore against admitted claims of Rs 22,006.57 crore, a 99.97% creditor haircut. NCLT Member Nilesh Sharma ruled as tiebreaker after a split bench. Congress's Jairam Ramesh called it a "mundan" and a complete mockery of the IBC.
Read Full ArticleNCLAT dismisses Taguda Pte Ltd's appeal against liquidation of Ushdev International, holds resolution plan implementation delay of over three years unjustified, imposes Rs 5 lakh cost.
NCLAT dismisses Vedanta’s plea against Adani’s ₹57,000 crore JAL resolution plan, upholds CoC decision, and rejects post-bid addendum challenge.
Supreme Court refuses to stay Adani’s JAL resolution plan, asks NCLAT to hear Vedanta’s appeal on priority in the high-stakes insolvency dispute.
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![NCLAT Upholds Liquidation, Holds Section 31(4) Approval Timeline Is Mandatory, Not Directory [Read Judgment]](/secure/uploads/2026/07/lj_4973_ChatGPT_Image_Jul_8,_2026,_05_37_43_PM.webp)
