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Gensol Engineering Limited, once a rising star in India’s clean energy and electric vehicle (EV) space, now faces an insolvency petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The petition, filed on 14th May by one of the financial creditors – IREDA — for a default amounting to ₹510 crore.…
New Delhi, May 12 (PTI) The National Company Law Appellate Tribunal (NCLAT) has dismissed an insolvency petition against PepsiCo India Holdings after observing that provisions of IBC cannot be turned into a debt-recovery proceeding. The appellate insolvency tribunal has upheld the earlier order passed by the Chandigarh bench of the National Company Law Tribunal (NCLT),…
Ireda Initiates Insolvency Proceedings Against Gensol Engineering BW Businessworld Read the original article here
Troubled Christchurch preschool placed in liquidation The Press Read the original article here
Aussie brides await delivery of gowns as luxury bridal brand enters administration St George & Sutherland Shire Leader Read the original article here
Aussie brides await delivery of gowns as luxury bridal brand enters administration Glen Innes Examiner Read the original article here
Monroe County grant writer Tammy Selman has been fired after she was accused of running up a $1,500 credit card debt on an online gambling platform and then claiming someone hacked the card and getting a refund. Selman went to the Monroe County sheriff’s office on March 19 to say that someone had hacked her…
One of the joint venture partners chosen to build Perth’s new maternity hospital has entered voluntary administration after months of uncertainty, but the Western Australian government is adamant the project remains on track. Global management firm FTI Consulting has been appointed to examine the financial position of builder Roberts Co and its parent entity, RCAH…
MUMBAI: Indian Renewable Energy Development Agency on Wednesday filed an insolvency plea against troubled Gensol Engineering over a default of Rs 510 crore, the power financier said in an exchange filing.The application was filed under section 7 of theInsolvency and Bankruptcy Code.Troubles at Gensol unfolded after a Sebi probe revealed in April that the company’s…