Sprick Rowery continues under Asian ownership after insolvency – Bike Europe
Sprick Rowery continues under Asian ownership after insolvency Bike Europe Read the original article here
Between aid cuts and debt crises, Africa bets on its own tax systems
After a decade of stalled reforms, urgency is finally driving African leaders to rethink domestic resource mobilization. By Jesse Chase-Lubitz // 05 September 2025 For decades, African governments have struggled to raise enough revenue to regularly fund their own development, whether that be for education, medicine, or infrastructure. They have relied instead on foreign aid…
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Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…
Reliance Communications shares in focus after Bank of Baroda classifies Anil Ambani, RCom loan accounts as ‘fraud’ – MSN
Reliance Communications shares in focus after Bank of Baroda classifies Anil Ambani, RCom loan accounts as ‘fraud’ MSN Read the original article here
Bankruptcy proceedings initiated for AB Šatrija
On 4 September 2025, the Šiauliai Regional Court ruled to initiate bankruptcy proceedings for AB Šatrija, a sewing services company owned by the Utenos Trikotažas Group. The ruling may be appealed within 7 days of delivery. Once it becomes final, AB Šatrija will acquire the status of a bankrupt legal entity. Insolvency administrator Juozas Valaitis…
Bank of Baroda classifies Anil Ambani and RCom as ‘fraud’
In a significant development, state-owned Bank of Baroda (BoB) has classified the loan accounts of debt-laden Reliance Communications Limited, also RCom, and its former chairman, Mr. Anil Dhirubhai Ambani, as “fraud”, alleging a systematic diversion and misappropriation of funds. The bank issued a detailed “Reasoned Order” on September 2, 2025, following a protracted process that…
Flats linked to Gitanjali Gems promoters set for auction in October
In a move to recover funds for creditors, the liquidator of the scam-tainted Gitanjali Gems Limited has put up for e-auction three luxury flats in Mumbai’s Santacruz East, previously linked to the company’s promoters, the Choksi family. The auction is part of the liquidation process of the company that collapsed following the massive Punjab National…
Reliance Communications’, Anil Ambani’s loan accounts declared as ‘fraudulent’ by Bank of Baroda (Lead)
New Delhi, Sep 5 (IANS) In a significant step, Bank of Baroda, one of India’s leading public sector banks, has declared the loan accounts of Reliance Communications Ltd. (RCom) and its erstwhile Director, Anil Ambani, as ‘fraud’, according to an exchange filing. This classification pertains to loans taken before RCom entered the corporate insolvency resolution…
BoB classifies Anil Ambani, Rcom as fraud
While the bank provided a personal hearing, it found the arguments in the reply to be “not sustainable” against specific allegations such as “mis-utilization of funds, improper loan utilization, unauthorized transfers,” and “fund recycling”. RCOM’s disclosure notes that the company is protected from legal proceedings under the Insolvency and Bankruptcy Code, 2016, during its CIRP.…
Bank of Baroda Declares RCom & His Loan Accounts as ‘Fraud’ – Outlook Business
Prior to this, the State Bank of India (SBI) and the Bank of India (BOI) reclassified the loan accounts of Anil Ambani’s bankrupt telecom firm RCom as “fraud”. SBI accused the company of diverting over ₹31,500 crore whereas BOI alleged that ₹725 crore, which the firm was supposed to use for spectrum payments, was transferred…