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1. NCLT dismisses Tejomay Exim's IBC plea against Shah Metacorp after settlement

NCLT dismisses Tejomay Exim's IBC plea against Shah Metacorp after settlement - Litigation - 1 min read NCLT dismisses Tejomay Exim's IBC plea against Shah Metacorp after settlement Shah Metacorp Limi

NCLT dismisses Tejomay Exim's IBC plea against Shah Metacorp after settlement

NCLT dismisses Tejomay Exim's IBC plea against Shah Metacorp after settlement - Litigation - 1 min read NCLT dismisses Tejomay Exim's IBC plea against Shah Metacorp after settlement Shah Metacorp Limited announced the National Company Law Tribunal has dismissed an insolvency plea. Tejomay Exim Corporation withdrew its petition after receiving payment. This settlement is procedural and does not impact the company's financial standing. The matter was heard at the National Company Law Tribunal, Ahmedabad Bench. Shah Metacorp had previously disclosed the application filing. - Published On Apr 20, 2026 at 03:15 PM IST Shah Metacorp Limited on Monday said the National Company Law Tribunal (NCLT) has dismissed an insolvency application filed by Tejomay Exim Corporation after the parties reached a mutual settlement. "Based on this receipt of payment, the applicant moved to withdraw the petition. The settlement is procedural and has no material adverse impact on the financial position of the company," said Shah Metacorp in their exchange filing. In a regulatory filing to the stock exchanges, the company said the Section 9 petition under the Insolvency and Bankruptcy Code (IBC), 2016—filed by the operational creditor—was withdrawn following receipt of payment from the corporate debtor.

2. Delhi High Court Justice Swarana Kanta Sharma recuses from AAP MLA Sanjeev Balyan's case

Delhi High Court Justice Swarana Kanta Sharma recuses from AAP MLA Sanjeev Balyan's case Delhi High Court Justice Swarana Kanta Sharma on Monday recused from hearing a plea filed by former Aam Aadmi P

Delhi High Court Justice Swarana Kanta Sharma recuses from AAP MLA Sanjeev Balyan's case

Delhi High Court Justice Swarana Kanta Sharma recuses from AAP MLA Sanjeev Balyan's case Delhi High Court Justice Swarana Kanta Sharma on Monday recused from hearing a plea filed by former Aam Aadmi Party (AAP) MLA Naresh Balyan seeking bail in a case registered against him under Maharashtra Control of Organised Crime Act (MCOCA). Justice Sharma said that the case will be listed before a different bench on April 23. Balyan was arrested on December 4, 2024 on allegations that he was linked to a criminal syndicate headed by gangster Kapil Sangwan. On January 15, 2025, trial judge Kaveri Baweja rejected Balyan's bail plea, observing that there was sufficient evidence to indicate a link between the AAP leader and the organised crime syndicate headed by Sangwan. The Rouse Avenue Court judge further held that Balyan did not satisfy the stringent requirements for bail under the MCOCA. Balyan had earlier secured bail in an extortion case on December 4, 2025 only to be arrested hours later in the MCOCA case. Notably, on March 13, Justice Sharma had censured Delhi Police for its failure to complete the probe into Balyan even though he has been in prison since 2024. "If you keep on investigating this case, when are they going to hear charges?

3. Union Minister Shobha Karandlaje writes to FM Nirmala Sitharaman seeking DRAT in Bengaluru

Union Minister Shobha Karandlaje writes to FM Nirmala Sitharaman seeking DRAT in Bengaluru Minister of State for Labour and Employment and Micro, Small and Medium Enterprises in the Union government,

Union Minister Shobha Karandlaje writes to FM Nirmala Sitharaman seeking DRAT in Bengaluru

Union Minister Shobha Karandlaje writes to FM Nirmala Sitharaman seeking DRAT in Bengaluru Minister of State for Labour and Employment and Micro, Small and Medium Enterprises in the Union government, Shobha Karandlaje recently wrote to Union Finance Minister Nirmala Sitharaman requesting the establishment of a bench of Debts Recovery Appellate Tribunal (DRAT) in Bengaluru. In her letter dated April 17, Karandlaje noted that parties aggrieved by orders of the Debts Recovery Tribunal (DRT) in Bengaluru are presently required to approach the DRAT located in Chennai. Karandlaje flagged the difficulties it poses for stakeholders in Karnataka, particularly given the geographical distance and associated costs in travelling to Chennai. “This arrangement imposes significant practical hardships on stakeholders, including banks, financial institutions, borrowers, and legal practitioners based in Karnataka. The requirement to travel to Chennai entails considerable expenditure of time, cost, and logistical effort, thereby adversely affecting access to justice.” Karandlaje further underlined Bengaluru’s status as a key financial and commercial hub, noting that a high volume of cases arises under the jurisdiction of the DRT in the city. She observed that increasing pendency, combined with the absence of a proximate appellate forum, has contributed to delays in adjudication and enforcement of financial claims. Karandlaje also argued that establishing a DRAT in Bengaluru would ease the burden on the existing Chennai tribunal while ensuring more efficient and timely disposal of appeals. Linking the proposal to broader policy objectives, she wrote, "The principle of ease of doing business and judicial accessibility, which the Government of India has consistently championed, would be greatly strengthened by such a step. A DRAT in Bengaluru would not only serve the state of…

4. Ashish Agrawal steps down from Groww's board

Ashish Agrawal steps down from Groww's board - Corporate & Business - 1 min read Ashish Agrawal steps down from Groww's board Ashish Agrawal has resigned as Nominee Director of Billionbrains Garage Ve

Ashish Agrawal steps down from Groww's board

Ashish Agrawal steps down from Groww's board - Corporate & Business - 1 min read Ashish Agrawal steps down from Groww's board Ashish Agrawal has resigned as Nominee Director of Billionbrains Garage Ventures Limited. Agrawal plans to launch his own venture capital firm. He expressed gratitude for his seven-year association with Groww. Agrawal was instrumental in Groww's early funding rounds. Billionbrains Garage Ventures Limited on Monday announced the resignation of its nominee director Ashish Agrawal, with effect from April 20, 2026, according to a regulatory filing with stock exchanges. "I hereby tender my resignation as Nominee Director on the Board of Billionbrains Garage Ventures Limited (BGV), including all committees thereof, with effect from April 20, 2026. I have decided to be an entrepreneur myself and would be starting a new venture capital firm," Ashish Agrawal said in his resignation letter. He added, "The association with Groww over the last 7 years has been a highlight of my professional career.

5. Power Bills May Rise In Delhi As Tribunal Rejects Plea Over Unpaid Dues

Power Bills May Rise In Delhi As Tribunal Rejects Plea Over Unpaid Dues In recent years, electricity tariffs were reduced in Delhi.

Power Bills May Rise In Delhi As Tribunal Rejects Plea Over Unpaid Dues

Power Bills May Rise In Delhi As Tribunal Rejects Plea Over Unpaid Dues In recent years, electricity tariffs were reduced in Delhi.

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