Advik Capital Gets NCLT Notice Order in IBC Case

14 Jan 2026 CW Team

Advik Capital Limited, an RBI-registered non-banking financial company, has recently informed that the Hon’ble National Company Law Tribunal, New Delhi Bench–VI, has passed an order dated 5 January 2026 in a petition filed by the company under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Elitecon International Limited. As per the order, the Tribunal has directed issuance of notice to the respondent and prescribed timelines for completion of pleadings. Advik Capital has been instructed to take steps for service of notice on the respondent through all prescribed modes within one week and to file proof of service before the next date of hearing. The respondent has been granted two weeks from the date of service of notice to file its reply. The matter has been listed for further hearing on 4 February 2026. The order reflects the statutory process under the Insolvency and Bankruptcy Code for adjudication of claims arising from defaults in repayment obligations and provides a structured judicial framework for enforcement of financial claims by regulated lenders. The proceedings remain pending before the Tribunal and are subject to further orders and final adjudication.

Infrastructure Energy

14 Jan 2026

ONGC Caps Mori-5 Well in Five Days After Blowout

Oil and Natural Gas Corporation Limited (ONGC) has successfully established well control at the Mori-5 well, completing the capping operation within a record five days. The achievement underscores ONGC’s strong blowout response capability and operational discipline in managing critical field incidents.The blowout occurred on 5 January 2026 during service operations at the well being carried out by PEC contractor M/s Deep Industries Limited. ONGC immediately activated its in-house Crisis Management framework and mobilised specialised manpower and equipment to ensure rapid, safe and controlled..

NIIT MTS Acquires SweetRush for Up to $26 Million

NIIT Learning Systems Limited, through its NIIT Managed Training Services (NIIT MTS) arm, has recently acquired 100 per cent of US-based SweetRush, Inc for an aggregate consideration of up to USD 26 million. The transaction was completed via NIIT MTS’ wholly owned subsidiary, NIIT (USA), Inc., and includes performance-linked earnouts over the next five years, subject to customary adjustments.Headquartered in San Francisco, SweetRush was founded in 2001 by Arturo Schwartzberg and Andrei Hedstrom. The company employs over 100 professionals, supported by an extended network of learning experts ..

Lemon Tree–Fleur Restructuring to Create Two Focused Platforms

Lemon Tree Hotels Limited and Fleur Hotels Limited have recently announced that their Boards have approved a Composite Scheme of Arrangement to simplify group structure, sharpen strategic focus and unlock long-term shareholder value, subject to regulatory and shareholder approvals.The reorganisation will result in two distinct yet complementary platforms. Lemon Tree Hotels will operate as a pure-play, asset-light hotel management and brand platform, while Fleur Hotels, a subsidiary of Lemon Tree, will emerge as a large-scale hotel ownership and development platform with a strong growth pipelin..