Gangotri Textiles Ltd admitted into Corporate Insolvency Resolution Process by NCLT

Gangotri Textiles Ltd has been admitted into Corporate Insolvency Resolution Process (CIRP) by the NCLT, Chennai. The Board of Directors is suspended, and an Interim Resolution Professional (IRP) now manages the company. This marks a significant governance shift for shareholders. Gangotri Textiles Ltd’s board of directors has been suspended and the company admitted into the…

Sadhguru’s advice led famous actor to leave Mumbai, move to village, take up farming. He ended in Rs 2 crore debt but credits spirituality for helping him deal with the difficult phase

Actor Rajesh Kumar, best known for playing Rosesh Sarabhai in Sarabhai vs Sarabhai, took an unexpected turn in his life when he walked away from acting in 2017. Instead of continuing his television career in Mumbai, he returned to his hometown Gaya in Bihar and decided to explore farming. What followed was a difficult five-year…

Chilean Media Reports ECapital Bankruptcy Amid Sartor Crisis

Chilean business publication Diario Financiero reported that factoring company ECapital is going bankrupt. The Rio Times writes about this. At the same time, no court ruling, case number, court name, or information about a liquidator has been made publicly available, so the company’s formal insolvency status remains unclear. ECapital’s legal name is Emprende Capital Servicios…

China’s onetime richest man has lost everything but creditors are still owed $300 billion

Chinese authorities are moving to finish cleaning up the mess left by the collapse of the Evergrande real estate empire, years after its default with some $300 billion in liabilities. A court in southern China’s Guangzhou said Friday it had accepted a bankruptcy liquidation case against Evergrande’s mainland Chinese property development unit, which according to industry data accounted for much of…