Insolvency move against Rel Infra stayed by NCLAT

New Delhi: In a big relief to Reliance Infrastructure, appellate tribunal NCLAT on Wednesday stayed the insolvency proceedings against the company. Reliance Infrastructure in a regulatory filing said that the National Company Law Appellate Tribunal (NCLAT) suspended the order passed by the NCLT over an appeal filed by it. “In the appeal filed, the NCLAT,…

Toys R Us Australia Collapses Again After Five Years

Toys R Us has entered voluntary administration in Australia for the second time in five years. The ASX-listed company made the announcement in a formal statement lodged with the Australian Securities Exchange. The company confirmed it has appointed administrators to restructure its operations. The administrators, Luke Andrews and Duncan Clubb from BDO Business Restructuring, have…