BENGALURU: In a setback for Byju’s, the Supreme Court on Wednesday stayed the National Company Law Appellate Tribunal’s (NCLAT) order that approved the settlement between the edtech firm and the BCCI. Byju’s US-based lenders had approached the Supreme Court and now insolvency proceedings against the company have been revived. A bench led by Chief Justice…
A key business behind home builder Modco Residential has been sent to liquidation one year after the embattled construction company collapsed. Modco and Ms Lu Holdings were linked to ‘glamour couple’ Cynthia Lu and Yusuf Khan — Ms Lu was director of Ms Lu Holdings while Mr Khan was registered as Modco’s supervisor with building…
“Parents of a child who was in intermediate, so that would be around 11 to 12 years old, were beside themselves because he would sleep at school. He wasn’t engaging in the family and he was completely disconnected,” she said. The boy had been using his mother’s credit card to fuel his online gambling habits.…
Key Points Bankruptcy lasts for three years but the consequences can last much longer. Bankruptcy won’t release you from all your debts. Always seek the advice of a financial counsellor. Bankruptcy is a legal process that helps you regain financial control by releasing you from most of your debts. It allows you to start fresh.…
A statement posted on Rex’s website late on Tuesday said the administration affected parent company Regional Express Holdings Limited and a number of its subsidiaries trading under the Rex Group name. Samuel Freeman, Justin Walsh and Adam Nikitins of Ernst & Young Australia have been appointed joint administrators by the Rex board. Rex’s regional Saab…
The effects of the past In 1994, the new democratic government of South Africa inherited an unsustainable budget deficit, rampant inflation (18.9% in 1991), depressed investor confidence, a mountain of debt and a currency crisis from the apartheid state. The previous regime had racked up debt to cope with the sanctions placed upon the country…
The JetAir website is now dominated by a bankruptcy notice. Credit: jetaircaribbean.com United Caribbean Airlines, which operated under the name JetAir Caribbean, has been declared bankrupt by the courts in Curaçao, the island in the Dutch… Read the original article here
Unprofitable building contracts, cost blowouts, planning delays, labour shortages, red tape and other challenges sent nearly 3000 building companies broke in the last financial year, new official insolvency figures show. According to corporate watchdog ASIC, there were 2832 construction industry insolvency appointments for the 2024 financial year until June 16, an increase of 28 per…
NEW YORK — Two more men were charged Thursday in the sports betting scandal that prompted the NBA to ban former Toronto Raptors player Jontay Porter for life. Timothy McCormack and Mahmud Mollah now join two other men — Long Phi Pham and a fourth whose name remains redacted in a court complaint — as…
New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Wednesday stayed the insolvency proceedings against Coffee Day Enterprises Ltd (CDEL), which operates Cafe Coffee Day chain, till next date of hearing. Passing an interim order, the Chennai-based bench of the appellate tribunal stayed the operations of the NCLT order. NCLAT also directed the financial…