The cumulative number of insolvency cases initiated by operational creditors such as raw material suppliers and vendors against defaulters trailed that by financial creditors for the first time since fiscal 2017, show latest data. According to officials, this suggests a growing preference among operational creditors in recent years for out-of-court settlements. Between late 2016, when…
YOUNG ADULTS in Redditch are facing significant financial struggles with many battling debt and seeking help with budgeting, according to new figures released by debt help and budgeting charity, Christians Against Poverty (CAP). CAP Redditch Debt Centre said 30 per cent of 18 to 34-year-olds were struggling to repay debt, compared to 23 per…
Mumbai: The National Company Law Tribunal (NCLT) has admitted Canara Bank‘s insolvency plea against Supreme Best Value Kolhapur (Shiroli) Sangli Tollways Pvt Ltd, a special purpose vehicle promoted by BSE-listed Supreme Infrastructure India Ltd, over a default of ₹347 crore. The tribunal also appointed Rajesh Jhunjhunwala as the interim resolution professional (IRP) to oversee the…
SINGAPORE – Local eatery Superfood Kitchen will enter voluntary liquidation with operations at its last outlet, in Raffles City, ceasing on Aug 31. Superfood Kitchen faces mounting losses and was not able to agree on rental rates with the landlord, said its Singapore-listed parent, Autagco, in an Aug 31 bourse filing. The eatery is the…
What Is Liquidation? Liquidation in finance and economics is the process of bringing a business to an end and distributing its assets to claimants. It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due. As company operations end, the remaining assets are used to…
Auditor flags Rs 63 crore as potentially fraudulent transactions in HNG Moneycontrol Read the original article here
Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Siti Networks Limited ( (IN:SITINET) ) has issued an announcement. Siti Networks Limited has disclosed a default on the payment of interest and principal on loans from…