The Supreme Court on Wednesday (February 18) reaffirmed that the remedy under Section 7 of the Insolvency & Bankruptcy Code (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) is not discretionary but mandatory, leaving the adjudicating authority with no option but to admit the application once the existence of a debt and a default…
Taking Stock: Nifty below 25,500 as market ends 3-day winning streak; Sensex tumbles 1,236 pts More than 140 stocks touched their 52-week low, including Brainbees Solutions, C. E. Info, LT Technology, Clean Science, Just Dial, Vedant Fashions, Info Edge, Jyothy Labs, Inox Wind, Ola Electric, KEC International, NCC, Cello World, among others. Read the original…
Four companies have been shut down after investigations revealed they were connected to a scheme which helped directors sell struggling businesses for £1 while keeping assets and dropping debts The scheme’s operators failed to preserve accounting records or assess what had happened to the more than £18 million in combined assets of 75 companies they…
REVEALED: Latest business liquidations in Monash Herald Sun Read the original article here
Ashok Leyland Completes Voluntary Liquidation of West Africa Subsidiary scanx.trade Read the original article here
Court’s decision The Supreme Court of India dismissed the appeal filed by Power Trust, promoter of Hiranmaye Energy Ltd., and upheld the admission of a Section 7 application under the Insolvency and Bankruptcy Code, 2016 against the corporate debtor. The Court held that the default occurred on 31 March 2018, well before the Covid-era suspension…
Keppel Completes Voluntary Liquidation of Third Dragon Holdings Subsidiary TipRanks Read the original article here
The squeeze on supply has already begun reshaping consumer behaviour in Europe A global shortage of computer memory driven by surging demand for AI systems could force many consumer electronics manufacturers out of business by the end of 2026, according to the head of a leading storage company. Pua Khein-Seng, chief executive of Taiwanese memory…
Kallam Textiles receives NCLT notice for insolvency proceedings from Union Bank of India scanx.trade Read the original article here
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