New Delhi, Nov 27 (KNN) In a pivotal decision, the National Company Law Appellate Tribunal (NCLAT) Delhi has dismissed the petition seeking to initiate insolvency proceedings against Amazon Wholesale (India). The appellate tribunal upheld the earlier ruling by the National Company Law Tribunal (NCLT), which in March 2023 had rejected the insolvency plea filed by Multiplier…
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Raheja Developers filed an appeal with the National Company Law Appellate Tribunal (NCLAT) to contest the initiation of insolvency proceedings against the company due to defaults related to the non-delivery of its Shilas project in Gurugram. This follows the Principal Bench of the National Company Law Tribunal (NCLT) admitting a petition from over 40 flat…
Pleas for assistance with business insolvency matters have jumped 50%, the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) says, showing the extent and severity of the cash flow crunch. The ombudsman received 6,254 requests for help over the 2023-2024 financial year, a 10% increase from the year prior, according to a summary of its…
Highlights Satish Kumar Gupta has been appointed as the liquidator of Jet Airways India Limited. The NCLT has lifted the moratorium imposed on Jet Airways. The NCLT has ordered the liquidation of Jet Airways, following a plea by the Jet Airways Cabin Crew Association. The National Company Law Tribunal, Mumbai has appointed Satish Kumar Gupta…
A seaside attraction which owes £51 million to the council appears to be facing imminent closure as it files for insolvency. Brighton i360 Ltd, the company behind the iconic observation tower, has notified administrators, citing mounting operational costs, uncooperative weather during peak tourism seasons, and the pervasive cost-of-living crisis as the main culprits behind this…
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Xiaodi Hou, the co-founder and former CEO of self-driving truck startup TuSimple, is demanding that the board immediately liquidate the company and return all remaining funds – roughly $450 million – to shareholders “on a pure pro-rata basis, regardless of share class,” according to a letter that TechCrunch has viewed. Hou is also suing TuSimple…
The International Monetary Fund and the World Bank have established a new approach to what they view as a pervasive liquidity crisis in many low-income countries and some emerging markets. According to this assessment, many countries are simply facing a short-term liquidity problem led by a concentration of debt service payments at a moment when…