Monday, October 12
Fewer companies went through the insolvency process under the Insolvency and Bankruptcy Code (IBC) in financial year (FY) 2025, according to the credit rating firm ICRA. As per the ICRA, only 724 companies were admitted for insolvency, a sharp 28 per cent drop from 1,003 in the previous year. The number of approved resolution plans also dipped slightly to 259 from 263 last year.Under the IBC, introduced in 2015, authorities try to streamline the process of resolving financial distress and insolvency of companies and individuals. The IBC offers a framework for prompt and effective resolution with the dual goals of protecting creditors and encouraging entrepreneurship.In the last quarter of FY2025, lenders recovered about 70 per cent of the admitted claims in some cases, registering the high
IndiGo on Wednesday said Ton Dortmans will be joining the airline to support the technical entry into service of A350 aircraft as well as the overall MRO (Maintenance, Repair and Overhaul) strategy and capabilities.The airline will start getting deliveries of wide body A350 aircraft from 2027.Both the operation and maintenance of own wide-body aircraft, powered by Rolls Royce engines, will be new for IndiGo, according to a release."In addition, given the growing fleet-size of IndiGo (today already over 400 aircraft) and the 900+ aircraft still on order, IndiGo is committed to build up more and broad capabilities in-house in India around various MRO activities. In 2023, IndiGo opened its second hangar in Bengaluru," the release said.Last year, the carrier placed an order for 30 A350-900 air
