National Company Law Tribunal allows insolvency proceedings against seven companies – Financial Express

The aggregate debt involved in seven stressed companies, now cleared for insolvency proceedings, is Rs 1.3 lakh crore, a little over half the amount that these companies owe banks. With the NCLT (National Company Law Tribunal) allowing insolvency proceedings to be initiated against companies even if winding-up petitions are pending before high courts, provided these…

Will Pauline Hanson’s Sister Replace Senator Malcolm Roberts if he is Disqualified? – ABC Online (blog)

With it looking increasingly likely that One Nations Malcolm Roberts could have his qualifications to sit in the Senate referred to the High Court, the question of who would replace him if disqualified has attracted attention. Senator Roberts problem is that he overlooked the fact he had British citizenship. Shortly before the election he tried…

Arun Jaitley urges PEs, ARCs to hasten resolution of insolvency cases – Economic Times

MUMBAI: Finance minister Arun Jaitley has urged private equity players and asset reconstruction companies to act swiftly towards resolution of stressed assets, hoping that this will inspire confidence among investors as well as boost the economy. Jaitley conveyed this in a closed-door meeting which was attended by senior of finance ministry officials, select private equity…

Shayne Elliott is about to embark on a deep restructure of the ANZ … – Business Insider Australia

Shayne Elliott is about to restructure the ANZ Bank, streamlining the workforce, and reducing dependency on mortgage brokers and branches. The Australian Financial Review reports that Elliott and ANZ chairman David Gonski have sketched out the boldest restructuring plan seen in Australian banking history. Elliott says ANZ has no choice but to start with a…