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Kallam Textiles gets NCLAT interim stay on CIRP for 4 weeks

Kallam Textiles received a four-week interim stay on insolvency proceedings from NCLAT, Chennai. The company must now present a new restructuring proposal to its lenders. Kallam Textiles Ltd has obtained an interim stay on Corporate Insolvency Resolution Process (CIRP) proceedings for four weeks from the National Company Law Appellate Tribunal (NCLAT), Chennai Bench. The order…

Advance of ₹1.95 crore unpaid for Castor oil: NCLT admits Section 9 IBC plea against Evoq Remedies for failure to deliver goods or refund [Read Order]

In a recent order, the National Company Law Tribunal (NCLT), Ahmedabad Bench, admitted an insolvency petition filed by an operational creditor, a Panipat‑based proprietorship, against Evoq Remedies Limited after finding that the company failed to supply goods or refund an advance of ₹1.95 crore paid for castor oil. After the operational creditor Harbhole Agrotech issued a demand notice…

Ireland’s tools to save firms aren’t being used

Many viable Irish firms are going to the wall without trying the rescue processes available. BDO’s Ian Barrett looks at the under-utilised roles of Scarp and examinership Dozens of companies are potentially going to the wall without trying business-saving rescue processes. Last year, only 43 attempts of corporate rescue processes were made out of 812…