PayPal has been accused of letting problem gamblers spend up to 150,000 a day, prompting concerns that addicts are using the online payment system to circumvent bank limits. MPs and gambling experts called for the company to be more responsible to stop people racking up huge debts that could force them into bankruptcy. The Department…
Outcome of 16th Committee of Creditors Meeting Ref: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 – Reg. We give below outcome of the 16th Meeting of the CoC: The Committee of Creditors reviewed the resolution plans submitted by the resolution applicants and decided to give final opportunity to each…
SINGAPORE: Embattled water treatment firm Hyflux on Saturday (Feb 16) morning announced its closely-watched restructuring plan which it said would help to resuscitate the company, but retail investors told Channel NewsAsia that this will see them suffering massive losses. According to an affidavit filed by founder-CEO Olivia Lum to the High Court on Friday, holders…
This is to inform you that the public announcement made pursuant to order passed by the Tribunal under Section 13 of Insolvency Code has published in Free Press Journal, Mumbai Edition Newspaper , Navakal Mumbai Edition Newspaper and Janadesh Silvasa Edition Newspaper on Friday February 15, 2019. Copy of Free Press Journal Mumbai Edition Newspaper…
IBBI, established in October 2016 under the IBC, has regulatory oversight over the insolvency professionals/agencies/entities and information utilities The Insolvency and Bankruptcy Code (IBC), 2016, will soon have provisions dealing with individual insolvency and bankruptcy, said MS Sahoo, chairman of Insolvency and Bankruptcy Board of India (IBBI). Sahoo on Friday said the first priority would…
CEDARHURST, N.Y., Feb. 15, 2019 (GLOBE NEWSWIRE) — The securities litigation law firm of Kuznicki Law PLLC issues the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff…
MUMBAI -Failure to repay home loans might drag future defaulters to dedicated bankruptcy courts as New Delhi is seeking to put in place a broad framework on individual insolvency two years after it revamped such laws for stressed companies. Three sets of entities will fall under the individual insolvency code. They would include the personal…
With growing demand for insolvency professionals, Indian Institute of Corporate Affairs (IICA) has launched a graduate insolvency programme (GIP). Approved by the Insolvency and Bankruptcy Board of India (IBBI), GIP offers course for those individuals who want to join the insolvency profession or seeking other roles in the value chain, in the country and in…
Notice of 16th Committee of Creditors Meeting Ref: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 – Reg. With reference to the subject cited above, I would like to bring to your kind notice that the 16th Meeting of the Committee of Creditors (COC) of the Company is scheduled to…
The Insolvency and Bankruptcy Code 2016(IBC) will prevail over the Prevention of Money Laundering Act 2002(PMLA), and hence no attachment can be ordered under PMLA against the assets of corporate debtor undergoing insolvency process. This was held by the National Company Law Tribunal, Mumbai bench, allowing an application moved by Resolution Professional of Sterling SEZ…