NCLT approves 180 resolution plans

05 Jun 2023 CW Team

The biggest number of resolution plans ever accepted by the insolvency tribunal, NCLT, was 180 in FY23, realising a total of $51.4240 million from stressed assets. While finishing 77 bankruptcy processes, including some high-profile cases like Essar Steel and Monnet Ispat, this is the second biggest amount for creditors to realise after FY19, when the total realised was Rs. 1.11 lakh crore. This has made it easier for creditors of indebted companies to realise 36% of their total acknowledged claims, which totaled $1,42,5430 million for the fiscal year that concluded on March 31, 2023.

According to data made public by the Insolvency and Bankruptcy Board of India (IBBI), the combined total liquidation value of the assets of 180 corporate debtors (CD) was 39,1101 million, and the creditors received 131% more than that amount.

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..