Mumbai: In a major relief to V Hotels (formerly M/s. Tulip Hospitality Services Ltd), the Bombay High Court has quashed an attachment order issued by the Adjudicating Authority under the Prevention of Money Laundering Act (PMLA). This order followed a provisional attachment issued by the Enforcement Directorate (ED). V Hotels had challenged the provisional attachment…
In a significant blow to Jaiprakash Associates Ltd (JAL), the debt-ridden parent company of the distressed Jaypee Group, the National Company Law Appellate Tribunal (NCLAT) on Friday dismissed its appeal challenging the company’s admission into insolvency. This decision affirms the National Company Law Tribunal’s (NCLT) 3 June order, which admitted JAL into insolvency proceedings based…
Highlights The Committee of Creditors rejected the e-voting for the appointment and fees of PVRN & Co. and Nangia & Co. LLP for conducting the Corporate Insolvency Resolution Process Cost Audit of Jaiprakash Associates Limited, with votes receiving 49.07% and 46.63% respectively. The National Company Law Appellate Tribunal upheld the National Company Law Tribunal’s decision…
Austrian real estate, media and retail investor and founder of Signa Holding Rene Benko is seen prior to the Formula One Austrian Grand Prix at the Red Bull race track in Spielberg, Austria on July 2, 2023. Georg Hochmuth | Afp | Getty Images Rene Benko, the fallen property tycoon whose Signa empire toppled in…
The 44th meeting of the consolidated Committee of Creditors (CoC) for Videocon Industries Limited and 12 other Videocon group companies is scheduled for Tuesday, December 10, 2024. This meeting, a pre-facto intimation, adheres to the Insolvency and Bankruptcy Board of India regulations and addresses the ongoing consolidated corporate insolvency resolution process. Updated On Dec 7,…
Australia’s bankruptcy laws will come under the microscope in the most extensive review into insolvency in more than three decades, as the end of pandemic-era support prompts the collapse of financially stretched businesses. The inquiry is likely to recommend ways to simplify the country’s notoriously complex insolvency regime, but the Albanese government says it wants…
Videocon Industries schedules 44th meeting of creditors for corporate insolvency resolution ETLegalworld Read the original article here
Europe’s third largest Tour Operator “FTI Touristik” has declared bankruptcy upsetting the plans of thousands of travelers, with scheduled trips expected to be either canceled or partly suspended as early as tomorrow, Tuesday, June 4. According to sources, the German-based company has reportedly settled any outstanding debts to nearly all its client hotels in Crete,…
Electric vehicle start-up Fisker files for bankruptcy The Washington Post Read the original article here
The National Bank has classified Commercial Investment Bank JSC as insolvent due to risky activities that threatened the interests of depositors and creditors. Writes UNN with reference to the NBU. The National Bank has classified Cominvestbank as an insolvent bank. Since it held only 0.04% of the market, this will not affect the stability of…