Business
Government To Close Insolvency And Bankruptcy Law Loopholes? New Rules Coming Soon, BIG Change Expected In Blood Relation Clause
New Delhi: The government is gearing up to make some of the biggest changes yet to the Insolvency and Bankruptcy Code (IBC) in the upcoming winter session of Parliament. While the law has seen several amendments since it was first introduced in 2016, the proposed IBC Amendment Bill 2025 is expected to be the most impactful.
Experts, as quoted by ZeeBiz, say that this move could strengthen the real purpose of “Ease of Doing Business”, especially since it may revise Section 29A, which currently prevents a company’s promoters and their blood relatives from taking part in the insolvency resolution process.
What is Section 29A of the IBC?
Section 29A of the Insolvency and Bankruptcy Code (IBC) is an important provision that defines who can and who cannot participate in the resolution process of an insolvent company. Under this section, the company’s promoter and their blood relatives are restricted from taking part in the bidding or resolution process of that same company.
The government’s intention behind this rule was to ensure that the promoters of a bankrupt company, or people closely associated with them, do not regain control of the same company. However, industry experts argue that this provision is “extremely broad”. They say it ends up restricting even those individuals who may not have any direct business connection with the company — but are only related to the promoter by family ties.
“Time to Amend Section 29A”
Many industry bodies and corporate law experts believe that the time has come to amend this section, as per ZeeBiz. They argue that if a relative has no financial or managerial involvement with the company, then they should not be barred from participating in the IBC process just because they are a “blood relative” of the promoter.
Industry’s View Presented Before the Select Committee
The proposal to amend the IBC is currently being reviewed by a Select Committee chaired by Baijayant Panda. Various stakeholders have been presenting their views and recommendations before the committee.
One of the key suggestions placed before the committee is to redefine the “blood relation” clause under Section 29A. Industry representatives argue that the definition of a “related party” should be limited only to business relationships, not personal family ties.
They suggest that a person’s bid should be restricted only if the source of their investment is directly linked to the company promoter’s funds, rather than just because they are a family relative.
What Will Change If the Amendment Is Approved?
If this amendment goes through, many large corporate groups in the country will be allowed to participate in IBC cases involving companies linked to their blood relatives. This could speed up the insolvency resolution process, as it would increase the number of potential bidders and create more competition.
Experts believe that this move could not only improve the success rate of IBC cases but also strengthen the true intent of “Ease of Doing Business” in India.
Six Major Amendments Have Already Been Made to the IBC
Since its introduction in 2016, the Insolvency and Bankruptcy Code has undergone six major amendments, each aimed at making the insolvency process faster, more transparent, and more investor-friendly. However, experts say that provisions like Section 29A no longer fit well with the current business environment, and updating it has now become necessary.
Morgan Stanley has an equal-weight rating on SBI with the target price raised to Rs 1,025. Analysts said the key positive from SBI’s July-Sept (Q2FY26) results was a 5% higher net interest income (NII) over analysts’ estimates and strong fees. Its profit after tax (PAT, pre-exceptional gain) was 15% above estimates, while asset quality remained strong. Analysts raised earnings per share (EPS) estimates by high single-digit percentage points for FY26 to FY28.Jefferies has a buy on M&M with the target price Raised to Rs 4,300. Analysts said the auto major delivered 14th consecutive quarter of double-digit earnings before interest, taxes, depreciation and amortisation (EBITDA) growth, with Q2FY26 up 23% on the year (YoY), ahead of analysts’ estimates. M&M raised FY26 outlook for tractors and LCVs, and now expects double-digit growth across segments. Analysts also said it has gained market share across SUV, tractors and LCVs in recent years. It also plans to launch three new SUVs in CY26, and a new SUV platform in CY27.HSBC has a buy on Adani Ports with the target price raised to Rs 1,700. Analysts said for the company Q2FY26 marked another quarter of continued improvement in return on capital employed (ROCE) across major businesses, notably in international ports. Robust underlying demand, market share gains, and overseas expansion underpin its 1,000 million metric ton throughput ambition for 2030. The company’s strategic pivot to focus on ROCE improvement should drive rerating.Citigroup has a buy rating on Paytm with the target price at Rs 1,500. Analysts said the company reported strong growth and market share momentum in credit on UPI (Rupay & Postpaid) is a tailwind that is likely to continue to aid net payment margins ex-devices. Additionally, device costs (across new device capex, refurbishment) have meaningfully declined, improving device economics. They said overall, Paytm reported a solid beat on EBITDA/EBIT on lower cloud costs and lower depreciation & amortisation. They said PayTM’s outlook on growth and EBIT margins are robust.CLSA has a hold rating on Kaynes Technology with the target price slightly reduced to Rs 6,375 from Rs 6,410 earlier. Analysts said the company’s Q2FY26 top line was largely in line while margins were slightly better. It maintained its FY26/FY28/FY30 revenue guidance, indicating consistently strong growth. However, cashflow conversion remained low, with around Rs 510 crore working capital increase largely due to receivables, which the company expects to improve going forward. While analysts are positive on the company on its strong growth outlook, low free cash flow generation could raise risks of consistent fund raise.
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Petrol, Diesel Price On November 7: Check City-Wise Rates Across India Including In Delhi, Mumbai and Chennai.
Petrol, Diesel Prices On November 7
Petrol and Diesel Prices on November 7, 2025: OMCs update petrol and diesel prices daily at 6 AM, aligning them with fluctuations in global crude oil prices and currency exchange rates. This daily revision promotes transparency and ensures consumers have access to the most up-to-date and accurate fuel prices.
Petrol Diesel Price Today In India
Check city-wise petrol and diesel prices on November 7:
| City | Petrol (₹/L) | Diesel (₹/L) |
|---|---|---|
| New Delhi | 94.72 | 87.62 |
| Mumbai | 104.21 | 92.15 |
| Kolkata | 103.94 | 90.76 |
| Chennai | 100.75 | 92.34 |
| Ahmedabad | 94.49 | 90.17 |
| Bengaluru | 102.92 | 89.02 |
| Hyderabad | 107.46 | 95.70 |
| Jaipur | 104.72 | 90.21 |
| Lucknow | 94.69 | 87.80 |
| Pune | 104.04 | 90.57 |
| Chandigarh | 94.30 | 82.45 |
| Indore | 106.48 | 91.88 |
| Patna | 105.58 | 93.80 |
| Surat | 95.00 | 89.00 |
| Nashik | 95.50 | 89.50 |
Key Factors Behind Petrol and Diesel Rates
Petrol and diesel prices in India have remained unchanged since May 2022, following tax reductions by the central and several state governments.
Oil Marketing Companies (OMCs) update fuel prices daily at 6 am, adjusting for fluctuations in global crude oil markets. While these rates are technically market-linked, they are also influenced by regulatory measures such as excise duties, base pricing frameworks, and informal price caps.
Key Factors Influencing Fuel Prices in India
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Crude Oil Prices: Global crude oil prices are a primary driver of fuel prices, as crude is the main input in petrol and diesel production.
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Exchange Rate: Since India relies heavily on crude oil imports, the value of the Indian rupee against the US dollar significantly affects fuel costs. A weaker rupee typically translates to higher prices.
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Taxes: Central and state-level taxes constitute a major portion of retail fuel prices. Tax rates vary across states, leading to regional price differences.
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Refining Costs: The cost of processing crude oil into usable fuel impacts retail prices. These costs can fluctuate depending on crude quality and refinery efficiency.
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Demand-Supply Dynamics: Market demand also influences fuel pricing. Higher demand can push prices up as supply adjusts to consumption trends.
How to Check Petrol and Diesel Prices via SMS
You can easily check the latest petrol and diesel prices in your city through SMS. For Indian Oil customers, text the city code followed by “RSP” to 9224992249. BPCL customers can send “RSP” to 9223112222, and HPCL customers can text “HP Price” to 9222201122 to receive the current fuel prices.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
November 07, 2025, 07:13 IST
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Tesla shareholders have approved a record-breaking pay package for boss Elon Musk that could be worth nearly $1tn (£760bn).
The unprecedented deal was approved by 75% of Tesla shareholders who cast votes at the firm’s annual general meeting on Thursday.
The deal requires Musk, who is already the world’s richest man, to drastically raise the electric car firm’s market value over a period of years. If he meets various targets, he will be rewarded with hundreds of millions of new shares.
The scale of the deal is controversial, but the Tesla board argued that Musk might leave the company if it was not approved – and that it could not afford to lose him.
The announcement drew loud applause from the audience at the meeting in Austin, Texas. Musk took to the stage and danced to chants of his name.
“What we’re about to embark upon is not merely a new chapter of the future of Tesla, but a whole new book,” he said.
“Other shareholder meetings are snoozefests but ours are bangers. Look at this. This is sick,” Musk said.
The milestones Musk achieve include raising Tesla’s market value to $8.5tn from $1.4tn at time of writing.
He would also need to get a million self-driving “Robotaxi” vehicles into commercial operation.
But his early remarks on Thursday placed the spotlight on the Optimus robot, dashing the hopes of some long-time analysts and Tesla watchers who want Musk to focus on reviving the company’s electric vehicle business.
“Let it sink in where Musk’s head is at,” wrote analyst Gene Munster, the managing partner at Deepwater Asset Management, on X.
“His vision of the ‘new book’ starts with Optimus. No mention of cars, FDS and robotaxi yet.”
Later in his remarks, Musk did refer to FSD, shorthand for full-self driving, saying the company was “almost comfortable” allowing drivers to “text and drive essentially.”
He also likened dealing with regulators to being in a Franz Kafka novel.
US regulators are investigating Tesla’s self-driving feature after multiple incidents in which the cars drove through red lights or on the wrong side of the road.
Some of these incidents have resulted in crashes that have caused injuries.
Tesla shares were slightly higher in after hours trading but have risen more than 62% over the last six months.
Wedbush Securities’ Dan Ives, a tech analyst whose been a long time advocate of Musk’s leadership of Tesla, called Musk “Tesla’s biggest asset” in a note published after the vote.
“We continue to believe that the AI valuation is getting unlocked, and we believe the march to an AI driven valuation for TSLA over the next 6-9 months has now begun,” Mr Ives added.
Portugal’s textile industry: Where does it stand today?
SBI, Adani Ports & more: Top stocks to buy on November 7 — Check list – The Times of India
Petrol, Diesel Fresh Prices Announced: Check Rates In Your City On November 7
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