The application must be denied if the Operational Creditor receives a notice of dispute or if a dispute is noted in the Information Utility in accordance with section 9(5)(ii) of the code In a recent case, the New Delhi bench of the National Company Law Appellate Tribunal (NCLAT) has held that the application under section 9…
The National Company Law Tribunal (NCLT) has declared Ansal API bankrupt, putting thousands of homebuyers and investors in a crisis. The tribunal has also appointed an Interim Resolution Professional (IRP) to handle the company’s projects, raising concerns about whether investors will ever get their money back. What Went Wrong? Ansal API had undertaken major real…
Forever 21 is not doing so well after it was revealed the brand is struggling financially. According to CNBC and the Wall Street Journal, the fast-fashion retailer has been looking for a buyer for its U.S. leases. In January, it announced that it was considering other “strategic options” to help keep the company viable. The…
Fitch Ratings has concluded that the Thai government’s expanded debt-relief measures, aimed at assisting vulnerable retail borrowers and announced on February 11, will exert a negligible influence on the financial performance and credit profiles of non-bank financial institutions (NBFIs). The Friday statement concluded that the limited scope and existing offsets of the measures…
Lucknow: Over 100 investors staged a protest at the office of Ansal API in Lucknow after the National Company Law Tribunal (NCLT) started proceedings of company’s insolvencyThe protesters demanded justice, claiming that their hard-earned money was stuck in the company’s projects.The NCLT has appointed an interim resolution professional (IRP) to evaluate Ansal API’s projects in…
Golden West Brewing Co collapses: Award-winning brewery goes into voluntary administration MSN Read the original article here
KEY TAKEAWAYS Nearly 40,000 individuals and organizations received support for tuition costs and repayment from GoFundMe fundraisers in 2024, the fundraising platform said. People have turned to crowdfunding as some federal student loan borrowers say their education wasn’t worth the burden that their debt causes them. While many fundraisers were started by the people with…
TEMPO.CO, Jakarta – The Labor Party considers the work of the Minister and Deputy Minister of Manpower incompetent for failing to prevent the layoffs of thousands of employees of PT Sri Rejeki Isman Tbk or Sritex. President of the Labor Party, Said Iqbal, stated that the closure of Sritex on March 1, 2025, is the…
Updated Mar 2, 2025 00:55 IST Hero Electric Insolvency Resolution IBC: The Expressions of Interest (EOI) inviting prospective bidders for the company, floated on February 18 is open until March 14, 2025. Article Highlights Sales of Hero Electric plummeted from 100,000 units in FY23 to a mere 11,500 units in the last fiscal year, impacted…
Mixed reaction over Tshwane’s proposed R10 billion debt relief for unpaid bills MSN Read the original article here