Supreme Court Backs NCLT’s Order for Interim Fund Distribution of BKEL

06 Nov 2024 CW Team

In a recent ruling, the Supreme Court has upheld the National Company Law Tribunal’s (NCLT) decision to allow interim fund distribution from the escrow account of BKEL (Brahmaputra Infrastructure Ltd.). This decision supports the NCLT's initial order, facilitating the release of funds amidst BKEL’s ongoing financial restructuring process.

The escrow funds, initially frozen due to BKEL's debt obligations, can now be partially distributed under supervised conditions. This interim measure is intended to address the company’s immediate financial commitments and ensure the continuation of critical operations, which is essential for BKEL as it undergoes the corporate insolvency process.

This decision is significant for creditors and stakeholders alike, as it sets a precedent on the use of escrow funds during insolvency proceedings, balancing the need for liquidity with legal protections for creditors. By approving the interim distribution, the court aims to maintain operational stability within BKEL while respecting the rights of its creditors.

Experts note that this ruling could influence future cases involving fund distribution in insolvency matters, providing a pathway for struggling companies to access necessary funds while remaining compliant with regulatory guidelines. The Supreme Court's backing of the NCLT order strengthens the tribunal’s authority in managing corporate restructuring and maintaining the interests of various stakeholders.

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..