New Delhi: The Supreme Court on Friday pulled up unsuccessful bidding companies in insolvency cases for challenging commercial decisions taken by lenders, warning that such attempts undermine the design of India’s bankruptcy framework. A bench led by Justice B.V. Nagarathna made the observations while upholding the resolution plan of Sarda Energy & Minerals Ltd for…
Scots engineering firm goes into liquidation after almost 100 years The Scottish Sun Read the original article here
CBI Conducts Searches at Reliance Communications Office During Insolvency Proceedings scanx.trade Read the original article here
The provisional liquidation application brought by the business rescue practitioners of Tongaat Hulett Limited is expected to be heard in the Durban High Court today. The Industrial Development Corporation (IDC) on Thursday filed its notice of intention to oppose the liquidation application. The Department of Trade, Industry and Competition had said earlier that it together…
The government of KwaZulu-Natal has announced plans to prevent the liquidation of Tongaat Hulett after the historic sugar producer filed for liquidation last week, IOL reported. Premier Thamsanqa Ntuli said efforts are under way to rescue the 134-year-old company in order to protect about 2,500 direct jobs and support thousands of small-scale sugarcane growers who…
Creditors can pursue simultaneous insolvency proceedings against both debtors, guarantors ETLegalWorld.com Read the original article here
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