A liquidator is investigating whether a failed international student agency improperly transferred funds out of Australia in the weeks before its collapse. GrowPro Experience, a Spain-based company which helps arrange global study for international students, was put into administration earlier this year. Its collapse has left hundreds of students at risk of losing years of…
Ola Electric’s share price experienced a significant drop following the announcement that Rosmerta Digital Services Ltd. intends to file for insolvency against Ola Electric Technologies Pvt Ltd., a wholly-owned subsidiary of Ola Electric Mobility Ltd. This news led to an almost 4% fall in Ola Electric’s share price during Monday’s trading session, as reported on…
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Ola Electric Mobility Limited disclosed Saturday that its wholly owned subsidiary, Ola Electric Technologies Private Limited, faces an insolvency petition filed by Rosmerta Digital Services Limited. The petition was submitted to the National Company Law Tribunal (NCLT) in Bengaluru under Section 9 of the Insolvency and Bankruptcy Code. Also read: Ola Electric’s subsidiary faces insolvency…
KUALA LUMPUR (March 17): The Credit Counselling and Debt Management Agency (AKPK) has introduced the 3P formula — Purpose, Payment Capacity and Payment History — to guide individuals in making responsible credit decisions, particularly in short-term financing like ‘Buy Now, Pay Later’ (BNPL). AKPK, in a statement on Monday, emphasised that the agency is committed…
The shares of Ola Electric shed about 6 percent in early trading on Monday, March 17, with reports of two of its units having filed insolvency petitions due to vendor dues. At 11 am, shares of Ola Electric Mobility Limited are currently trading at Rs 47.27, down 6.43 percent. READ MORE on live updates and…
Canadian department store retailer Hudson’s Bay Company said on Friday it has failed to secure sufficient financing to go ahead with a restructuring transaction under the Companies’ Creditors Arrangement Act. Hudson’s Bay The Toronto-based company said it has only secured limited debtor-in-possession financing that will require the full liquidation of the entire business, added that a store-by-store liquidation process will…
India’s Ola Electric shares hit record low as unit faces insolvency petition MSN Read the original article here
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EV company Ola Electric’s shares fell by about 6% on Monday following a petition filed by Rosmerta Digital Services under Section 9 of the Insolvency and Bankruptcy Code against its EV-making unit. Ola Electric’s shares hit a 52-week low of Rs 47.59 apiece as of 10:14 AM today. On Saturday, the Bhavish Aggarwal-led company informed…