Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that an application has been filed against the Company, under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Religare Finvest Limited, claiming to be a Financial Creditor, before the Honble National Company Law Tribunal, Kolkata…
In February, a resolution plan for Sharon Bio Medicine was approved by a bankruptcy court wherein lenders would receive Rs 230 crore against dues of Rs 702 crore. Ideally, secured lenders should have rejoiced, considering if it had gone into liquidation, they would have received just about Rs 175 crore. A closer look at the…
MUMBAI: Unrest is brewing at bankrupt Aircel, where theres been no sign of progress on selling assets as the insolvency resolution process passes the midway stage, prompting fears the company may be headed for liquidation. At a meeting last week, lenders rejected proposals to sell the telcos optic fibre network and scrap and to pay…
Banks and other lenders are being urged to do more to help consumers in a debt trap thanks to mounting credit card bills. The financial watchdog ASIC says it expects card providers to identify people in difficulty after finding 18.5 per cent of cardholders were behind in repayments, could make only the minimum repayments or…
Fewer companies wound up operations in Cayman last year as opposed to 2016. These are the findings of the Offshore Corporate Insolvency Restructuring Annual Review 2017 compiled by Applebys. For 2017 40 companies filed insolvency petitions in the Caymans jurisdiction, as opposed to 70 in 2016. Dispute resolution partner at…
Subcontractors WAs Louise Stewart has revealed she plans to step down from her role as chairwoman of the advocacy group to pursue a tech-based solution to the non-payment of subcontractors. Ms Stewart, who developed a healthcare technology platform that she has since sold, became a campaigner for the WA industry when she started helping her…
Fewer companies wound up operations in Cayman last year as opposed to 2016. These are the findings of the Offshore Corporate Insolvency Restructuring Annual Review 2017 compiled by Applebys. For 2017 40 companies filed insolvency petitions in the Caymans jurisdiction, as opposed to 70 in 2016. Dispute resolution partner at…