Jaiprakash Associates Board Challenges Insolvency at NCLAT

11 Jun 2024 CW Team

The suspended board of Jaiprakash Associates Ltd. (JAL) has approached the National Company Law Appellate Tribunal (NCLAT) to challenge an insolvency ruling. This move comes in response to the National Company Law Tribunal's (NCLT) recent decision to initiate insolvency proceedings against JAL, following petitions from creditors including ICICI Bank.

ICICI Bank had filed for insolvency proceedings against JAL due to the company's significant debts. Despite initial resistance from JAL, including an unsuccessful appeal to the Supreme Court, the NCLT's Allahabad bench ruled in favour of the creditors. JAL's board argues that the insolvency process is being manipulated by promoters and has sought NCLAT's intervention for a fairer hearing.

Additionally, JAL is also seeking approval from the Supreme Court for its resolution plan, which aims to revive the company and repay the creditors. This dual approach highlights the company's efforts to both contest the insolvency proceedings and propose a viable recovery plan.

The case remains a significant development in India's ongoing efforts to address corporate insolvencies and protect the interests of creditors and stakeholders.

Infrastructure Urban

16 Oct 2025

Shivraj Singh Chouhan inaugurates ICAR-IIMR admin block in Ludhiana

Union Agriculture Minister Shri Shivraj Singh Chouhan recently inaugurated the administrative building at the Indian Council of Agricultural Research – Indian Institute of Maize Research (ICAR-IIMR) in Ludhiana, Punjab. During the visit, he interacted with maize stakeholders, farmers, rural development scheme beneficiaries, and women self-help group (SHG) members. He said that under the leadership of Prime Minister Narendra Modi, the government’s key goals include boosting foodgrain production, reducing input costs, and improving farmers’ incomes. He highlighted the importance of div..

Google to Build Rs 10,000 Cr Data Centre in Visakhapatnam

In a major boost to India’s digital infrastructure, Google will establish a 1-GW hyperscale data centre and Artificial Intelligence (AI) hub in Visakhapatnam, Andhra Pradesh. The project, valued at Rs 100 billion, is expected to significantly contribute to the state’s economy and create more than 20,000 direct and indirect employment opportunities. Union Minister of State for External Affairs and Education, Dr Pemmasani Chandrasekhar, highlighted that this landmark investment by Google will help position Andhra Pradesh as a prominent digital hub under the “Swarandhra Pradesh” vision. ..

TCIL honoured with HR Excellence Award 2025

Telecommunications Consultants India Limited (TCIL), a Miniratna Schedule ‘A’ PSU under the Department of Telecommunications, has been honoured with the HR Excellence Award at the Fortune Leadership Awards 2025, held at Radisson Blu Plaza, Delhi. The accolade acknowledges TCIL’s outstanding HR practices promoting employee development, innovation, and inclusivity. The award was presented by Dr. Dinesh Upadhyay, Former Member, Ministry of AYUSH, and Shri M. S. Nethrapal, IRS, and received by Shri P. Suresh Babu, CGM (HR), in the presence of distinguished leaders from various sectors. Bet..