Vide the notification dated January 28, 2016 under Section 16E of the Tea Act, the central government had authorised the Tea Board to take over the control and management of the seven ailing tea estates of the GP Goenka-headed company in north Bengal. The Kolkata bench of the National Company Law Tribunal (NCLT) has dismissed…
The idea behind debt consolidation is simple: You take on a single, big loan to pay off all or most of your other, smaller liabilities. Story continues below Usually, there are three big reasons to do it. First, focusing on a single monthly debt payment is much easier than chasing due dates for a multitude…
Kenyas beleaguered public universities have been told to further tighten their belts after being slapped with a US$10 million budget cut that will worsen their cash woes, in austerity measures that are meant to avert a looming economic crisis. Last week, Kenyas parliament voted to reduce funding for spending on salaries, learning materials and infrastructure…
Max Brenner will close more than half its stores for good this coming Monday, only a week after the chocolate and caf chain entered voluntary administration. The swift action follows a rapid review to identify the stores with a financial future. “The decision to close stores is always regrettable but in this case we were…
Hong Kongs biggest television station fired another 150 people on Friday arising from losses in its international business and operational restructuring. Television Broadcasts (TVB) ushered in a wave of lay-offs in June when about 100 staff were told they would be made redundant. A TVB spokesman said in a statement on Friday that the 150…