Australia to Require Debt Management Firms to Be Licensed – Regulation Asia

Firms providing debt management services need to apply to ASIC for a credit licence and become a member of AFCA by 30 June 2021. ASIC (Australian Securities and Investments Commission) hasreleased an information sheet for providers of debt management services, explaining their new regulatory obligations, including the requirement to be licensed. The release follows the…

Prefab classroom builder AdBuild in voluntary administration but continues to trade – RNZ

A Lower Hutt company that makes prefab classrooms is in voluntary administration but the Education Ministry says it is working with it. The Ministry of Education says it is working with AdBuild and its administrators to ensure projects continue with as little disruption as possible (file picture). Photo: Ministry of Education AdBuild’s creditors appointed administrators…

Strong debt reduction, operating performance help Tata Steel post stellar show: Key Q4 takeaways – Economic Times

MUMBAI: Ltd today reported a firm set of earnings for the quarter ended March even though the companys standalone bottomline missed Streets estimates by some distance. The steelmaker reported a near 50 per cent jump in revenues in the standalone business on a year-on-year basis, while the consolidated business saw sales rise 39 per cent.…

NCLT initiates insolvency proceedings against Ahluwalia Contracts – Business Standard

The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against construction firm Ahluwalia Contracts India Ltd for defaulting on payments to an operational creditor. The New Delhi-based NCLT bench allowed the insolvency plea filed by A2 Interiors Products Pvt Ltd against Ahluwalia Contracts, claiming default of Rs 14.10 crore, and appointed an interim resolution…