, ET Bureau| Updated: Sep 18, 2017, 07.34 PM IST Watch: NCLT orders insolvency process against Stayzilla CHENNAI: The National Company Law Tribunal had ordered initiation of insolvency proceedings against hotel and homestay aggregator StayZilla, the consumer internet start-up that sparked national debates on the perils of entrepreneurship in India after its founder Yogendra Vasupal…
Image copyright PA Gas and electricity firms must do more to help those struggling to pay bills by spotting debt before it becomes severe, the energy watchdog has said. While the number of customers in debt is down, providers allow customers to accrue £600 in unpaid bills on average before they start paying money back.…
BUNDABERG residents are doing it tough, according to the Salvation Army. New data has revealed locals seeking financial assistance through The Salvation Army’s Moneycare financial counselling service are in extreme debt, with no way out but to seek help. The findings show that those on the brink of financial crisis owe $2.55 for every dollar…
Ranjani Ayyar | TNN | Oct 16, 2017, 13:50 IST The National Company Law Appellate Tribunal has dismissed the appeal filed by Stayzilla co-founder Yogendra Vasupal. CHENNAI: The National Company Law Appellate Tribunal on Monday dismissed the appeal filed by Stayzilla co-founder Yogendra Vasupal, who had filed an appeal against the order of the NCLT…
One of the UKs biggest energy companies is allowing its customers to fall as much as £1,600 into debt on their energy bills before intervening to help them repay it. The energy regulator, Ofgem, said the big-six firm npower, along with the smaller suppliers Utility Warehouse, Ecotricity, iSupplyEnergy, and First Utility, let customers accrue an…
Chinas rise to economic prominence over the past two decades has benefited many countries, including Australia. As a commodity-rich nation on Chinas doorstep, Australia benefited more than most thanks to its insatiable appetite for its natural resources, helping its transition towards a predominantly urban, highly-connected economy. However, as many are acutely aware, that economic transformation…
SAA spokesman Tlali Tlali confirmed on Sunday that the appointment of a chief restructuring officer was one of the conditions set by the lenders. It is understood that Peter Davies, a British aviation veteran who has served on the board of the International Air Traffic Association, has been selected as the preferred candidate for the…
Construction firm MBL Infrastructure is hoping to avoid liquidation with the promoter of the company likely to infuse Rs 50,100 crore capital, according to two people aware of the development. A consortium of 15-20 lenders and insolvency professionals have tweaked the resolution plan that must be submitted to the National Company Law Tribunal (NCLT) for…