The Chennai bench of the National Company Law Appellate Tribunal (NCLAT) has ruled that if one Financial Creditor has already filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), Section 96 of the Code prohibits another creditor from filing an application under the same provision against the same Personal Guarantor. In…
The New Delhi bench of the National Company Law Appellate Tribunal (NCLAT) held that when the admitted dues have been repaid by the debtor there is no point in continuing the Corporate Insolvency Resolution Process. The corporate debtor, M/s Rajasthan Land Holdings Ltd. (RLHL), was formerly a fully owned subsidiary of M/s Road Infrastructure Development…
Ziauddin KARACHI: While the foreign debt servicing remained almost the same in the budget for fiscal year 2025-26, the domestic debt target for the same year has been slashed by over Rs1.5 trillion compared to the last year. The burden of domestic debt has significantly been reduced due to a sharp decline in the interest…
400 jobs at risk as major retailer goes bust The Australian Read the original article here
The Mumbai bench of the national company law tribunal (NCLT) has granted a 90-day extension in the ongoing consolidated corporate insolvency resolution process (CIRP) of Lavasa Corporation Ltd, a planned hill city project in Maharashtra, beginning from 29 May 2025. The latest extension reflects renewed hope for reviving the project through fresh bids. The CoC…
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CINCINNATI (WKRC) — The IRS has resumed its efforts to collect tax debt for the first time since the COVID-19 pandemic, leading to increased financial stress for many individuals. It has been noted that people may be receiving more voicemails offering assistance with IRS debt, which can be stressful for several reasons. Attorney Bill Hesch,…
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Parents and students in Colchester have one less thing to worry about after the school district’s lunch debt was paid off. It’s all thanks to a group of locals looking to do acts of kindness. “I’ve always thought that Colchester is a very generous and kind town,” Michelle Noehren said. A town she has a…
(Bloomberg) — Builder.ai, the British artificial intelligence startup backed by Microsoft Corp. and the Qatar Investment Authority, is filing for bankruptcy after the chief executive officer said a major creditor had seized most of its cash. Viola Credit, which provided $50 million in debt to the software firm last year, has seized $37 million from…