Dharan Infra-EPC Limited, which is under Corporate Insolvency Resolution Process, has reported ongoing issues in complying with information requests from the Securities and Exchange Board of India. Despite repeated summons and reminders, the company’s suspended directors, key managerial personnel and statutory auditor have failed to provide the pending records and data sought by the regulator.…
The British company Welink Energy Portugal 2 UK Limited, which controls the largest operational solar power plant in Portugal, has entered insolvency. The Alcoutim plant in the Algarve has a capacity of 220 megawatts (MW) and has been operational since 2021; however, lower-than-expected output and a drop in wholesale electricity prices in the Iberian market…
The company controlling Portugal’s largest solar power station has entered insolvency after the €175 million Algarve project failed to generate enough revenue to meet its debts. According to Expresso, the 220-megawatt plant in Alcoutim remains operational, but is now expected to be sold to new investors as advisers attempt to secure its future. The facility…
A UK court has ordered the liquidation of Key Coin Assets Ltd, a cryptocurrency investment firm that promised investors returns of 40% to 100%, after investigators found the operation showed classic signs of a Ponzi scheme. The UK Insolvency Service, which brought the case, said there was no evidence that the company ever engaged in…
As under the CIIRP, a moratorium must be applied for, while section 64 of the IRDA provides for an interim 30-day automatic moratorium on filing of the application, within which the court hears whether to extend it for the period sufficient for the company to formally propose a scheme. In Re IM Skaugen SE, the…
Australian Pacific Coal Enters Voluntary Administration as Dartbrook Sale Proceeds TipRanks Read the original article here
NCLT Bengaluru Dissolves Infotech HAL After Completion Of Liquidation Process LiveLawBiz Read the original article here
The court has initiated liquidation proceedings against ABK Dnipro LLC Vira Kasiyan LIGA.net news editor Photo: ABK Dnipro … Read the original article here
The National Company Law Tribunal (NCLT) at Chennai on 7 August admitted Gangotri Textiles Limited‘s application under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC), thereby initiating Corporate Insolvency Resolution Process (CIRP) against it. A Bench comprising Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy observed: “….this Tribunal is satisfied that…
A lord ordinary has ordered that the director of an insolvent healthcare waste disposal company be disqualified from company management for nine years, after finding that his conduct in the run-up to the company’s liquidation amounted to an “egregious breach” of his director’s duties. A healthcare waste disposal company founded by the respondent was wound…