The Insolvency and Bankruptcy Board of India (IBBI) and Enforcement Directorate (ED) have mutually devised a mechanism, allowing insolvency professionals (IPs) to bring assets of corporate debtors attached by the Enforcement Directorate (ED) back into the resolution pool. Such restitution of the assets is expected to give a fillip to the resolution process, by reducing…
ED Raids 8 Locations In Mumbai In Money Laundering Probe Linked To Drug Network | File Pic The Enforcement Directorate (ED) has taken steps to expedite the resolution of companies under the Insolvency and Bankruptcy Code (IBC) by allowing the release of assets previously attached under the Prevention of Money Laundering Act (PMLA). The move…
Relief or burden? eThekwini’s Special Debt Relief Programme divides opinion IOL Read the original article here
Myleene Klass‘s ‘restaurant-quality’ meal-kit company has gone into liquidation with nearly £350,000 of debt. The TV presenter co-founded My Supper Hero in 2021 amid increased consumption of junk food during lockdown. However, the business went into voluntary liquidation last month, with documents on Companies House revealing the firm has £348,096 worth of debt. The Hear’Say singer is still…
THERE has been a mixed reaction to the eThekwini Municipality’s decision to reinstate its Special Debt Relief Programme, which offers residents and businesses a 50 percent write-off on arrears. While some hail it as a victory for struggling residents, others criticise it as inadequate and failing to address root causes of the debt crisis During…