A young man, aged 22, was allegedly stabbed to death during a dispute over a mere Rs 100 linked to gambling in Pachpahara village, police reported today. The confrontation erupted late Saturday between two groups, resulting in a violent attack that claimed the life of Nilesh, according to Superintendent of Police Palash Bansal. In…
New Delhi: Insolvency and Bankruptcy Board of India (IBBI) chairman Ravi Mital on Saturday said a creditor-led resolution framework under the bankruptcy law is in the offing. The move aims to lower the workload of the adjudicating authority by enabling the committee of creditors (CoC) to take on greater responsibility and expedite the rescue of…
BAKU, Azerbaijan, December 7. Azerbaijan’s Micro Leasing and Factoring Limited Liability Company (LLC) has announced its liquidation, Trend reports via the “Taxes” online newspaper of the State Tax Service under the Ministry of Economy. The creditors were required to contact the following address within two months: AZ1122, Baku city, Yasamal district, Hasanbek Zardabi Ave., building…
A total of 3,347 eateries have been unable to pay their debts in the past two years to March 2023, according to data from the Insolvency Service and first reported by Sky News. During the first three months of 2023, an average of six restaurants were affected every day. Of those restaurant declared insolvent, 98%…
Since the pandemic, during which insolvency rates were low due to government measures, there has been a considerable rise in insolvencies in the UK and many other jurisdictions. High interest rates have significantly increased the cost of borrowing and many companies are saddled with mountains of debt that was taken out in better times and…
The failure of energy business SolarZero has left many out of pocket. Photo: 123RF A small solar panel installing company owner says he and his staff are devastated by the failure of SolarZero. The energy business announced its liquidation last Tuesday. The board of the company owned by international investment firm BlackRock pulled the pin,…
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Insolvency And Bankruptcy Code: RBI Deputy Governor Calls For Enforceable Code – What Does It Mean? MSN Read the original article here
New Delhi: In a significant development in the Jet Airways insolvency case, the Supreme Court on Thursday ordered the liquidation of the grounded airline, forfeiting Rs 200 crore invested by the successful bidder, Jalan Kalrock Consortium (JKC), and allowing the lenders led by SBI to encash a Rs 150 crore performance bank guarantee (PBG). Exercising…
Reserve Bank of India (RBI) Deputy Governor Rajeshwar Rao. File. | Photo Credit: Reuters Reserve Bank Deputy Governor M. Rajeshwar Rao on Saturday (December 7, 2024) pitched for an enforceable code of conduct for the Committee of Creditors (CoC) under the insolvency resolution process. While emphasising that the Insolvency and Bankruptcy Code (IBC), which was…