NCLT: IBC Not a Recovery Tool

21 Sep 2023 CW Team

The National Company Law Tribunal (NCLT) has emphasised that the Insolvency and Bankruptcy Code (IBC) should not be employed as a primary tool for financial recovery in the realm of urban infrastructure. This significant revelation comes as a response to the evolving challenges faced by the infrastructure sector in India.

The NCLT's stance underscores the need for a more nuanced approach in resolving financial distress within the urban infrastructure domain. While the IBC serves as a crucial mechanism for insolvency and debt resolution, relying solely on it for recovery may not be feasible in this context.

This pronouncement reflects the broader concerns surrounding the intricacies of infrastructure projects and their multifaceted financial arrangements. In light of this, stakeholders are urged to explore alternative methods and strategies for addressing financial challenges within the sector, fostering sustainable growth and development.

The NCLT's stance serves as a crucial reminder that the dynamics of the infrastructure sector necessitate tailored solutions, ensuring the stability and vitality of urban infrastructure projects in India.

Infrastructure Urban

13 Oct 2025

Madurai Corporation Proposes Rs 1,400 Million Plan to Save Vaigai River

In a renewed effort to tackle pollution, the Madurai Corporation has submitted Rs 1,400 million proposal to the state government to upgrade the city’s drainage network and prevent untreated sewage from entering the Vaigai River. The proposal follows growing public concern over the river’s deteriorating condition despite previous mitigation efforts. The Vaigai flows for nearly 12 km within Madurai city limits, with sections obstructed by invasive plants, garbage, and untreated sewage. While multiple inlets contribute to contamination, the Panthalkudi canal in Goripalayam has been identifi..

PM Modi Inaugurates Mumbai Metro 3 Final Phase, 33.5 km Aqua Line

Prime Minister Narendra Modi inaugurated the final phase of Mumbai’s first fully underground Metro 3, making the 33.5 km Aqua Line operational. The line connects Aarey in North Mumbai to Colaba in South Mumbai, aiming to ease congestion on suburban trains and roads. The final stretch, spanning 11.2 km from Acharya Atre Chowk in Worli to Cuffe Parade, provides connectivity to six major business centres, including Nariman Point, Cuffe Parade, Fort, Lower Parel, BKC, and SEEPZ/MIDC. According to Mumbai Metro Rail Corporation (MMRC), the stretch also links areas such as Kalbadevi, Girgaum, Worl..

M.E. Energy Wins Rs 490 Million Ferro Alloys EPC Order

M.E. Energy Pvt Ltd, a wholly owned subsidiary of Kilburn Engineering Ltd and a leading Indian engineering company specialising in energy recovery and cost reduction solutions, has secured its second consecutive major order valued at Rs 490 million in the ferro alloys sector. The order is for an Engineering Procurement and Construction (EPC) contract to develop a 12 MW Waste Heat Recovery Based Power Plant (WHRPP). This repeat order underscores the growing trust of the ferro alloys industry in M.E. Energy’s expertise in delivering reliable, efficient, and sustainable energy solutions tailor..