The Allahabad bench of the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by G.S.W. Enterprises Private Limited for Hind Agro Industries Limited. The plan provides for payment of ₹95 crore towards settlement of stakeholder claims. It also envisages ₹200 crore towards working capital and capital expenditure over a five-year period. The…
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1. Main messages for England and Wales Annual summary for 2024 In 2024, there were 23,872 registered company insolvencies comprising 18,840 creditors’ voluntary liquidations (CVLs), 3,230 compulsory liquidations, 1,597 administrations, 202 company voluntary arrangements (CVAs) and three receivership appointments. The total number of company insolvencies in 2024 was 5% lower than in 2023, which saw…
An Aberdeen home improvement company has entered liquidation after a sustained period of challenging trading conditions. Alpha Plus Windows & Conservatories Limited was placed into liquidation on June 24, 2026, after efforts to secure the future of the business proved unsuccessful. The company director carried out a review of potential options to preserve the business,…
Melbourne Rebels deny voluntary administration status ESPN Read the original article here
The company director carried out a review of potential options to preserve the business, including exploring alternative solutions to allow trading to continue. However, it was ultimately concluded that liquidation was the only viable course of action. Richard Bathgate, restructuring partner and licensed insolvency practitioner at Johnston Carmichael LLP, has been appointed interim liquidator. The…
In a recent ruling, the National Company Law Appellate Tribunal (NCLAT), Chennai, dismissed two appeals filed by the appellant, a former director and personal guarantor of Sri Ananda Lakshmi Narasimha Industries India Pvt Ltd., challenging the extension of the company’s liquidation period and the continuation of its bankruptcy trustee beyond the age of 70. The appellant Chavva Naga Sampathi Tayaru argued that the Amaravati…
Videocon Industries CS resigns effective July 6, 2026 scanx.trade Read the original article here
The first six months of 2026 saw notable decisions on insolvency by the Supreme Court in cases concerning admission of the Corporate Insolvency Resolution Process (CIRP), corporate guarantees, resolution applicants, limitation, licensed spectrum and the relationship between the Insolvency and Bankruptcy Code, 2016 (IBC) and other statutes. This period coincided with an amendment to the…
Commercial Dispute Is Civil in Nature: Calcutta HC Quashes Criminal Proceedings against Directors amid Insolvency Proceedings Taxscan Read the original article here