The Mumbai Bench of the NCLT admitted SBI’s application seeking personal insolvency proceedings against Reliance Group Chairman Anil Ambani. The Tribunal appointed a Resolution Professional and directed issuance of a public notice inviting creditor claims, marking a major development in the insolvency process.
A Special CBI Court remanded Amitabh Jhunjhunwala, former Group Managing Director of Reliance Communications, to CBI custody until June 5 in an alleged bank loan fraud case. The agency sought custodial interrogation as part of its investigation into a suspected large-scale financial fraud involving Reliance Communications and related group entities.
In the 2023-24 financial year, the BJP received Rs.2,244 crore through electoral bonds, while Congress got Rs. 289 crore in donations of Rs.20,000 and above. This shows a big difference in the financial support received by the two major parties. The BJP’s contributions through electoral bonds were much higher than Congress’s. This data highlights the continuing importance of electoral bonds in political funding.
The Supreme Court of India, led by CJI DY Chandrachud, ordered the liquidation of Jet Airways, overturning the NCLAT’s approval of its ownership transfer to the Jalan Kalrock Consortium. The Court revealed that the consortium failed to meet financial obligations, prompting immediate liquidation and forfeiture of bank guarantees to protect creditors’ interests.
Today, On 16th October, the Supreme Court reserved its judgment on SBI’s appeal against the NCLAT’s approval for Jet Airways’ ownership transfer to the Jalan Kalrock Consortium. Jet Airways, in insolvency since 2019, plans to resume operations in 2024, following disputes over payment obligations and resolution delays.
The Supreme Court of India today (27th Sept) ruled that a free certified copy of an NCLT order suffices for filing an appeal to the NCLAT, overturning a prior NCLAT decision. The Court clarified there’s no distinction between free and paid certified copies, emphasizing that a three-day delay in appeal was within acceptable limits.