10Club moves NCLT to begin insolvency proceedings

E-commerce marketplace aggregator 10Club, which once raised one of India’s largest seed rounds, has failed to find a viable business model. The Fireside Venture-backed company now appears to be heading toward closure, as it has initiated insolvency proceedings before the National Company Law Tribunal (NCLT), Bengaluru Bench.   According to a company’s regulatory filing sourced…

Court of Appeal rejects MOF-controlled THHE’s bid to block creditors’ move for compulsory winding up; High Court hearing starts tomorrow

PUTRAJAYA (May 8): The Court of Appeal has rejected Ministry of Finance (MOF)-controlled TH Heavy Engineering Bhd’s (THHE) bid to stop creditors from turning its voluntary winding up into a compulsory one, clearing the way for High Court proceedings on Friday. The MOF owns 64.45% of THHE through Urusharta Jamaah Sdn Bhd (UJSB). The company was…

Court of Appeal rejects MOF-controlled THHE’s bid to block creditors’ move for compulsory winding up; High Court hearing starts tomorrow

PUTRAJAYA (May 8): The Court of Appeal has rejected Ministry of Finance (MOF)-controlled TH Heavy Engineering Bhd’s (THHE) bid to stop creditors from turning its voluntary winding up into a compulsory one, clearing the way for High Court proceedings on Friday. The MOF owns 64.45% of THHE through Urusharta Jamaah Sdn Bhd (UJSB). The company was…

Volta files for bankruptcy again amid setbacks

Volta Trucks has declared bankruptcy for the second time, electrive.com reports. Although no detailed explanation for the insolvency has been provided, it appears to stem from a lack of sales due to delays in the production of the first Volta Zero model. Production of the vehicle began in Steyr, Austria, in April 2023, but the…