The Copy of Order passed by the National Company Law Tribunal (NCLT), Kolkata Bench on 09.05.2019 in the matter of Company Petition (IB) No. 628/KB/2018 alongwith CA (IB) Nos. 366/367/KB/2019 (RITESH MORE Vs MARSONS LIMITED)is enclosed herewith. Further more, as per Courts direction a Monitoring Committee has been formed to oversee the effective implementation of…
With just over ten years until 2030, developing countries face important and complex challenges around the Sustainable Development Goals (SDGs). Not least of which is how to finance the investments needed to achieve them. Estimates suggest that developing countries face a $2.5 trillion annual financing gap to meet the SDGs. Other studies conclude that the…
Elizabeth Warren. Photo: @ewarren/Twitter November 2020 may still be a year and a half away, but the presidential election cycle is in full swing. What feels like approximately 400,000 Democrats are already fighting for the nomination, and cable networks have already been airing town halls with various potential candidates. One of the many (and we…
Highlights: Company begins to recognize initial revenues from April 1 management contracts New CEO initiates process to accelerate strategic transformation and facilitate financial restructuring Announces intent to reorganize around three core business divisions with performance measured at division-level EBITDA Implements Board and management changes in support of restructuring process; Transitions CEO responsibilities from Founder James…
Highlights: Company begins to recognize initial revenues from April 1 management contracts New CEO initiates process to accelerate strategic transformation and facilitate financial restructuring Announces intent to reorganize around three core business divisions with performance measured at division-level EBITDA Implements Board and management changes in support of restructuring process; Transitions CEO responsibilities from Founder James…
In February 2019 Michael Stanley, the owner of racehorses through Layezy Racing Owners Club was declared bankrupt. Stanley, a former police officer, attracted investors to the syndicate who paid over funds in exchange for a share of winnings in races in which the horses ran. Philip Duffy and Allan Graham of corporate restructuring and debt…
The National Company Law Tribunal, Hyderabad, has admitted Lanco Kondapalli Power Ltd for insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. Axis Bank, the lender for the group company of Lanco Infratech Ltd, had dragged the Kondapalli project for insolvency proceedings following default in payment of statutory dues. Lanco Infratech Ltd, a listed…
LGBTI news journal Star Observer has entered voluntary administration due to drying up advertising revenue. The journal, which has been a staple for the LGBTI community since 1979, was founded by Michael Glynn at a time when gay men were facing violence from police. Star Observer chairman Sebastian Rice says it faced financial troubles due…
We would like to inform you that pursuant to an Order no. CP(IB) No. 990/KB/2018 dated 6th May 2019 of the National Company Law Tribunal, Kolkata Bench, Liquidation has been initiated for Advance Powerinfra Tech Limited as per the provisions of the Insolvency and Bankruptcy Code, 2016. A copy of the said order is enclosed…
NEW DELHI: The principal bench of the National Company Law Tribunal (NCLT) has directed market regulator Securities and Exchange Board of India (Sebi) to de-attach the properties of a corporate debtor attached during its execution proceedings. The matter brings into focus the issue of the in-built disagreement between the Sebi Act and the provisions of…