The National Company Law Tribunal (NCLT) has dismissed an insolvency plea filed by ICICI Bank against Hyderabad Ring Road Projects, observing that there was “duplicacy of the claims” of the private lender. A two-member bench headed by President Justice M M Kumar said ICICI Bank has already raised the similar claims against its corporate guarantor…
New Delhi, May 27 The National Company Law Tribunal (NCLT) has dismissed an insolvency plea filed by ICICI Bank against Hyderabad Ring Road Projects, observing that there was “duplicacy of the claims” of the private lender. A two-member bench headed by President Justice M M Kumar said ICICI Bank has already raised the similar claims…
Three years ago, the government passed a consolidated framework for insolvency and bankruptcy. The objectives of the code were clearresolution of corporate entities, partnership firms and individuals in a time-bound manner for: Maximisation of value of assets. Promoting entrepreneurship, availability of credit. Balancing the interests of all stakeholders. But 30 months and 1,858 cases later,…
Adelaide Monday May 27, 2019 Council court battle looms over North Adelaide college expansion SAs outdated abortion laws under review Touch Of The Fumbles: Department of Youth Tragic death a reminder to watch over the vulnerable Mini Raspberry Cupcakes EXCLUSIVE | A senior liquidator facing a complaint to ASIC … Read the full article at:…
British fashion chain Topshop is planning to close all 11 of its U.S. stores after its parent company filed for bankruptcy protection. Arcadia Group, the London-based owner of the chain, said it is facing poor market conditions in the retail sector. The company blamed online competition such as Amazon and discount-retailers like TJMaxx for weak…
Attempts to find a buyer for British Steel could be abandoned by midsummer despite reassurances to trade unions that the government would prop up the business indefinitely, according to Whitehall sources. More than 4,000 jobs are hanging in the balance after the company entered into insolvency on Wednesday, three years after private equity group Greybull…
The State Bank of India has dragged energy firm Bhatia Coke and Energy Limited into insolvency process for non-payment of dues of about 125.9 crore to a consortium of banks. In September 2009, the company availed itself credit from State Bank of India and the erstwhile State Bank of Mysore. Further, it availed itself a…
In last years Federal Budget, the Coalition government announced it would expand the scheme, so it can be accessed by a far greater number of pensioners. To qualify, you or your partner have to be at least age pension age, own your own home outright or own an investment property outright, have adequate insurance covering…
To see the Scunthorpe steelworks in action is to witness British manufacturing prowess at its most visually stunning. Huge slabs of steel, glowing orange with heat, flow seamlessly through the plant, destined to become anything from paperclips to the steel ropes that support the Humber Bridge. Even from a safe distance, the searing 1,000-degree temperature…
The judge was not happy. A vulture fund that had bought bad mortgages from banks questioned the legality around how a couple went about seeking a remedy to their severe financial problems. The couple in question, musician-composer Frank McNamara and his wife Theresa Lowe, the TV presenter-turned-barrister, are among the best known people to have…