New Delhi: The heavy industries ministry has sought to recover ₹167 crore given as subsidy to Hero Electric Vehicles Pvt. Ltd, according to two people aware of developments in the electric two-wheeler maker’s insolvency proceedings. The ministry last year accused Hero Electric and a few other electric vehicle manufacturers of fraudulently claiming subsidies under the…
The changes to the IVA protocol bring further clarity and certainty for both consumers and creditors. Research published in October 2024, showed concerning evidence of poor practice by some providers. The revised protocol comes into effect from 1 June 2025 and is the product of the agency working alongside regulators, creditors, IVA providers and charities. …
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LIVE: major Herefordshire company enters liquidation The Hereford Times Read the original article here
STRONG APPROACH: The Government is set to review how local authorities collect council tax arrears (Image: Getty) The number of families struggling to keep up with council tax payments has surged to a staggering 4.4 million, topping figures last seen in the wake of the 2008 financial crisis. New data reveals a 40% increase in…
Millennials looking for help repaying debt Yahoo Read the original article here
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A parliamentary committee on Thursday flagged “ambiguities” in the Insolvency and Bankruptcy Code (IBC), with sources saying that the government appeared to be considering amendments in the law to address existing concerns. Sources said the recent Supreme Court judgment quashing JSW Steel‘s resolution plan for Bhushan Power and Steel Ltd (BPSL) also came up in…
Slovenia, Romania, Croatia see rise in insolvency rates in 2024 – Coface SeeNews Read the original article here