There are numerous approaches you can take to debt relief, so you’ll need to narrow down the options before making any moves. Getty Images/iStockphoto Many people struggle with debt. And thanks to high interest rates, rising costs of living, and other challenging financial conditions, that debt can be particularly hard to get out of these…
The National Company Law Appellate Tribunal (NCLAT) has set aside an NCLT order that had directed ICICI Bank to return ₹8.92 lakh received in a loan account after commencement of CIRP. The Tribunal ruled that since the payment was not made by the corporate debtor but by an individual co-applicant, the moratorium under Section 14…
The National Company Law Appellate Tribunal (NCLAT) recently dismissed an appeal filed by a suspended director who challenged the initiation of the Corporate Insolvency Resolution Process (CIRP) on grounds of procedural impropriety and alleged suppression of facts. The appeal was filed by Sushil Jejani, a suspended director of Nova Steels (India) Ltd., challenging the order…
Forklifts sit motionless at the once‑bustling Corona‑College Heights Orange & Lemon Association packing house in Riverside County. After 125 harvest seasons, the grower cooperative —one of California’s oldest continuous produce brands— has filed Chapter 7 liquidation, spelling a hard goodbye for a food company that packed oranges, lemons and grapefruit nonstop, year‑round. From horse‑drawn wagons to…
NCOP approves Appropriation Bill and Eskom debt relief amendment MSN Read the original article here
The bill adjusts the Eskom debt relief allocation for the 2025/26 financial year from R40 billion to R80.2 billion, while introducing a further R10 billion allocation in 2028/29. These adjustments are part of the broader R230 billion debt relief package enacted in 2023 to help Eskom address its crippling debt burden and improve energy security.…
The National Company Law Appellate Tribunal (NCLAT) dismissed an appeal filed by Mr. Rakesh Verma, the suspended director of a company under liquidation, reaffirming that once a company enters the liquidation stage under the Insolvency and Bankruptcy Code (IBC), individual objections from suspended directors, especially those not rooted in legal merit, cannot delay or derail…
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The National Company Law Appellate Tribunal (NCLAT) has set aside an order of the Adjudicating Authority that had permitted a creditor to intervene in a concluded voluntary liquidation process, despite the claim being filed beyond the prescribed limitation period. The appeal was filed by the liquidator of Nextgen Procon Pvt. Ltd., challenging an order dated…