Kolkata, June 16 () As many as 110 cases have been admitted by the National Company Law Tribunal for resolution of corporate insolvency. “110 transactions have been admitted by the NCLT for corporate insolvency resolution,” Insolvency and Bankrupcy Board of India’s chairman M S Sahoo said at a programme at Merchants’ Chamber of Commerce. In…
Kolkata, June 16 (IANS) The National Company Law Tribunal (NCLT) has admitted 110 cases for corporate insolvency resolution, Insolvency and Bankrupcy Board of Indias Chairperson M.S. Sahoo said on Friday. The default amount ranges from a few lakhs of rupees to Rs 6,000 crore, he said on the sidelines of an event organised here by…
Changes support super tax reform, amend Insolvency Law Reform Act Simon Hoyle has been a finance journalist for more than 25 years a finance journalist because the football and motorsports rounds at The Age were filled when he was awarded a cadetship. He worked on BRW and Personal Investment magazines, and was part of the…
LIVERMORE After more than a years worth of controversy including accusations of fiscal mismanagement, charging tuition to foreign exchange students and child cruelty charges two Livermore charter schools are set to close. The Tri-Valley Learning Corporation board, which managed the charters, directed its attorney on Tuesday to file for Chapter 7 bankruptcy, or a liquidation…
By Reuters Published: 21:31 +10:00, 16 June 2017 | Updated: 21:31 +10:00, 16 June 2017 e-mail By Devidutta Tripathy MUMBAI, June 16 (Reuters) – India’s central bank has asked lenders to initiate bankruptcy proceedings against a dozen companies, including Essar Steel, Bhushan Steel Ltd, Monnet Ispat and Energy Ltd, sources with direct knowledge of the…
Putting a mechanism in place for ‘the ease of exiting business’ in India, the Ministry of Corporate Affairs today said in Parliament it has laid the ground rules for winding up business for failed ventures, sparing the stakeholders years of mounting losses because of depreciation of assets and a litany of labour disputes. The Insolvency…
Nine months after schedule, Greece finally has some more creditor cash. The countrys 10-year bond is rallying and Athens stock index hit a two-year high this morning after eurozone and International Monetary Fund officials agreed to unlock an 8.5bn tranche of rescue cash to help Greece avoid default and pay off some of its arrears.…
The Insolvency and Bankruptcy Board of India (IBBI) on Friday notified the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017. The board announced the regulations in exercise of its powers conferred by sections 58, 196 and 208 read with section 240 of the Insolvency and Bankruptcy Code,…
The government on Friday notified provisions for fast-track resolution of insolvency proceedings. Under this code, insolvency proceedings will be completed in 90 days. The adjudicating authority, which is the National Company Law Tribunal (NCLT), may extend the period of 90 days by a further period of up to 45 days…
LUXEMBOURG (AP) Greece is hoping to secure more bailout funds to meet a summer debt repayment hump as well as a debt relief deal at a meeting of finance ministers from the 19-country eurozone. The country, which has been promised help on its mountain of debt once its bailout ends next year, is again the…