Thousands of home owners in beleaguered real estate developments owned by Jaypee Infratech and Amrapali Group are running out of options as both head for National Company Law Tribunal (NCLT). While senior officials in the finance ministry said the government is working on ways to provide relief to home buyers,…
Image copyright Google Image caption Contract Services has blamed ‘unexpected cash flow’ problems A south Wales building and maintenance firm has called in liquidators with the loss of 102 jobs. Contract Services (South Wales) Ltd has operated from Port Talbot and Caerphilly for the last 21 years. It ceased trading on 11 August, and called…
A top unsecured creditor of bankrupt Dynamic International Airways LLC is attempting to force the High Point charter airline into liquidating its assets. The bare-bones filing in U.S. Bankruptcy Court for the Middle District of N.C. came about seven weeks after Dynamic lost a legal fight in U.S. District Court for the Middle District. Since…
NEW DELHI: The government is exploring if it was legally tenable to sell other assets of debt-ridden Jaypee Infratech to raise money to complete pending housing projects of the company, a top finance ministry official said today. Hundreds of home buyers had been left in lurch after the National Company Law Tribunal (NCLT) admitted bankers’…
Anubhav SahuMoneycontrol research The earnings report from Tata Global Beverage revealed a continuation of improving profitability of its Indian operations and restructuring of the international businesses. Despite GST, the company witnessed growth supported by volumes. In our view, Tata Globals latest initiatives on restructuring are directionally positive steps. We believe that the latest developments have…
Cathay Pacific Airways could face further pressure for another round of cost-cutting in the face of an estimated HK$1.2 billion in losses for the first six months of this year one of the worst results in its operating history, according to analysts. The figure was compared to a HK$353 million profit in the same period…
Amber Wilson – AAP on August 14, 2017, 5:41 pm An accused killer says a “dirty rat” falsely dobbed him in to police – “dragging him through hell” – as he denies murdering his mate. Christopher John Lavery, 31, on Monday entered the witness box at the Supreme Court of Victoria where he is standing…
Rail freight operator Aurizon has announced the closure of its Forrestfield terminal by the end of the year, as part of a national restructure that will result in the loss of 250 jobs. Brisbane-based Aurizon said today it would close all of its intermodal operations outside Queensland. In addition, it has agreed to sell its…
ARMED with a plastic sharpened toothbrush, an 18-year-old man robbed a Maryborough corner store in a bid to repay a drug debt. Nathanael William Pooler threatened two employees working at Foodworks on Churchill St with the home-made tool, before taking off with cash. Nathanael William Pooler was charged with armed robbery, after threatening staff in…
Campaigners have long warned of the problem and it is now official: Britain has a growing debt problem at levels not seen since the global financial crisis almost a decade ago. Borrowing through credit cards, overdrafts and car loans – unsecured consumer credit – and other forms of financing has topped £200bn, confirming grim predictions…