Construction Insolvencies Fall in December 2024

THE NUMBER of registered construction insolvencies in England and Wales was 291 in December 2024. The December figure is 8% lower than in November 2024 when 316 construction companies went bust. Overall, construction firms accounted for 16.3% of all insolvencies in England and Wales in December 2024, according to the Insolvency Service. By rough comparison, construction…

NCLT admits RBI’s plea for insolvency resolution of AVIOM India Housing Finance

Three weeks after the Reserve Bank of India (RBI) submitted a plea to initiate corporate insolvency resolution proceedings (CIRP) against Delhi NCR-based non-banking financial company (NBFC) AVIOM India Housing Finance, the National Company Law Tribunal (NCLT) has granted approval for the petition. Earlier, the Reserve Bank had taken action by superseding AVIOM’s board due to…