Need to improve liquidation outcomes: IBBI chairman

Insolvency and Bankruptcy Board of India (IBBI) Chairman Ravi Mital said there is a growing need to improve liquidation outcomes under the Insolvency and Bankruptcy (IBC) Code, 2016. “It is observed that till December 2024, in the completed liquidation cases, the amount realised by claimants has been very low as compared to the Corporate Insolvency…

Adult Film Company Shut for Direct Debit Scam

Investigations into Drawntear Limited showed that the company appeared to take direct debit payments from consumers without their knowledge or authorisation Drawntear claimed in previous accounts that it marketed adult movies but no evidence was provided about how the company traded or who really controlled its business activities The company has now been wound-up in…

Company which claimed to market adult films is shut down for suspected direct debit scam

Investigations into Drawntear Limited showed that the company appeared to take direct debit payments from consumers without their knowledge or authorisation  Drawntear claimed in previous accounts that it marketed adult movies but no evidence was provided about how the company traded or who really controlled its business activities  The company has now been wound-up in…