The House of Representatives Public Accounts Committee has approved a N248.6 billion financial relief and 10-year debt restructuring framework for the Kano, Jos and Ikeja Electricity Distribution Companies (DisCos) as part of efforts to stabilise Nigeria’s power sector. The resolution followed the adoption of a technical subcommittee report reviewing the 2021 Auditor-General for the Federation’s…
In a recent ruling the Supreme Court of India has dismissed an appeal filed by suspended director of Ambro Asia Private Limited, ruling that the appeal was “wholly incompetent” and incapable of being cured by amendment. The matter started from insolvency proceedings initiated by Unox S.P.A., an operational creditor, under Section 9 of the Insolvency…
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Section 8 Companies occupy a unique position in India’s corporate landscape. Incorporated exclusively for non-profit or charitable objectives – such as the promotion of commerce, art, science, religion, education, or social welfare – they enjoy special privileges including exemption from stamp duty, liberal tax treatment, and relaxed governance norms. However, this special status…
The Durban High Court has postponed the liquidation case against Tongaat Hulett after a last-minute funding agreement was reached, providing the company with a temporary lifeline until June. This decision follows a last-minute agreement between the company’s Business Rescue Practitioners (BRPs) and the Industrial Development Corporation (IDC) for R200 million in funding. The supplementary affidavits…
It had been negatively impacted by rising costs for materials and labour Beechdale Fencing Limited had been based on Cattle Market Road in The Meadows, Nottingham(Image: Joseph Raynor/Reach PLC) A Nottingham firm has entered liquidation and made its employees redundant after being hampered by rising costs. Beechdale Fencing Limited, which had been based on Cattle…
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REVEALED: Latest business liquidations in Whittlesea Herald Sun Read the original article here