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Daily Archives: June 20, 2021

Easier dilution norms for large IPOs where post-listing m-cap tops Rs 1 trn – Business Standard

LiquidationBy Insolvency GuardianJune 20, 2021

Move seen as precursor to LIC IPO; 5% minimum public shareholding compulsory on IBC relisting TopicsIPO|LIC |market cap Easier dilution norms for mega initial public offerings (IPOs) have come into effect. Companies with post-listing market capitalisation (m-cap) of more than Rs 1 trillion will not be required to dilute a minimum of 10 per cent.…

Boss of collapsed road-building firm was accused of siphoning cash – The Age

LiquidationBy Insolvency GuardianJune 20, 2021

A company director who owes businesses $20 million after his company went broke on an Andrews government road project has been accused of siphoning cash from a company he partly owned. More than 200 civil construction firms were left thousands of dollars out of pocket on the $1.8 billion Western Roads Upgrade after a major…

Spike in online gambling during lockdown – how addicts can get help Sara-Jayne King talks to – CapeTalk

GamblingBy Insolvency GuardianJune 20, 2021

Share This: Sara-Jayne King talks to SARGF’s Noxolo Adonis and a UK recovering addict who had to borrow almost R2m to pay off gambling debt. – Problem gamblers can talk to counsellors 24/7 in SA on a toll-free helpline – The South African Responsible Gambling Foundation says calls have spiked during lockdown – A UK…

The road to business recovery starts here – Business Post

RestructuringBy Insolvency GuardianJune 20, 2021

Covid-19 has put the cashflows of many businesses under severe pressure. While business levels are starting to recover, the withdrawal of government supports will lead to greater liquidity problems and increased creditor pressure. Crowes corporate restructuring and insolvency advisors can help business owners find turnaround solutions and put the business back on the recovery pathway.…

Insolvency law changing the way society perceives biz failures, says Sahoo – Business Standard

BankruptcyBy Insolvency GuardianJune 20, 2021

Fuelled by a huge unsatiated appetite for freedom of exit, the insolvency law is changing the way the society perceives business failures as it becomes a reform by, for and of the stakeholders, according to IBBI Chairperson M S Sahoo. Little over five years after its enactment, the Insolvency and Bankruptcy Code (IBC), which provides…

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