(Bloomberg) — Shares of Pierer Mobility AG tumbled after the company said its KTM AG motorbike unit was filing for a self-administered insolvency in Austria. KTM will be unable to cover a “very high three-digit million euro” financing requirement, according to a statement. The company will seek to agree with creditors on a reorganization in…
Labour’s first major fiscal statement, the Autumn Budget, sent shockwaves across key UK sectors as significant tax changes were announced, changing tax, succession and future planning strategies in place for businesses. Capital Gains Tax changes announced in the Autumn Budget also directly impact limited company directors considering closing a business in the near future. Jonathan…
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Popular motorbike brand KTM files for insolvency as it buckles under massive debt News24 Read the original article here
Byju’s faces financial probe amid insolvency woes Tech in Asia Read the original article here
The National Company Law Appellate Tribunal (NCLAT) has dismissed a petition seeking insolvency proceedings against Amazon Wholesale (India), upholding an NCLT ruling. New Delhi, Nov 26 (PTI) The National Company Law Appellate Tribunal (NCLAT) has set aside a petition seeking to initiate insolvency proceedings against Amazon Wholesale (India). A three-member NCLAT bench upheld the order…
On November 21, the National Company Law Appellate Tribunal (NCLAT) rejected an appeal from Multiplier Brand Solutions, which had challenged the National Company Law Tribunal’s (NCLT) decision to dismiss its insolvency petition against Amazon Wholesale (India). The Bench, led by Chairperson Justice Ashok Bhushan and technical members Barun Mitra and Arun Baroka, found nothing wrong…
The government is gearing up to launch an integrated platform that aims to transform the insolvency ecosystem in India by expediting resolution processes. The platform will involve all key stakeholders, thereby addressing long-standing concerns about delays in handling stressed assets since the implementation of the Insolvency and Bankruptcy Code (IBC) in 2016. Anita Shah…
Forward AM confirms filing for insolvency VoxelMatters Read the original article here
The company provided manpower and related services for Amazon Device Projects based on purchase orders issued between October 2022 and May 2023. Subsequently, invoices amounting to ₹3.69 crore were raised from March 2023 to May 2023, and payment approval was requested. It contended that though Amazon Wholesale confirmed that two invoices were approved but delayed due…