Manchester tech companies shut down for suspected monthly direct debit scam | Insolvency Service

Consumers appeared to be signed up for monthly payments without their consent. Concerns were raised that tech companies Affinity Technology Solutions Limited and RCSR Tech Limited were operating a direct debit scam  Monthly payments of around £30 were made without customers’ knowledge or permission, complainants said  Both companies have now been shut down in court…

Force Majeure doesn’t absolve Corporate Debtor from contractual obligations; NCLT directs initiation of CIRP against Corporate Debtor

National Company Law Tribunal, Chennai: In an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, a Division Bench of Sanjiv Jain (Judicial Member) and Venkataraman Subramaniam (Technical Member), admitted the Section 7 IBC application and initiated the…