The National Company Law Tribunal (NCLT) on Monday deferred orders in eight insolvency petitions against SpiceJet after the airline and one of its aircraft lessors informed the tribunal that they had reached a settlement hours before the orders were scheduled to be pronounced. A special Bench comprising Judicial Member Mahendra Khandelwal and…
Florigen was legally incorporated on Tuesday, August 11, the same day its first trial began at the Delphy Improvement Centre in Bleiswijk. The company is the first commercial venture to emerge from the HortiScience Innovation Center (HIC), where the concept was developed earlier this year during one of the centre’s recurring entrepreneur sessions. Florigen…
The Ministry of Corporate Affairs (MCA) will examine litigation funding for PUFE – Preferential, Undervalued, Fraudulent, and Extortionate transactions under the insolvency regime to improve recoveries, the ministry told a parliamentary standing committee in a written reply. “Litigation funding for PUFE transactions will be examined in light of global best practices and…
Key takeaways: At least 16 freight companies were left with unpaid invoices. The debts exceeded US$508,000, €334,000 and £25,000. The bills were incurred during a three-month period between August and October 2024. The company belonged to the JCTrans international freight network, which appeared to give it credibility among other members. Investigators said the business could…
Raleigh is likely the first brand many people think of when they think of biking. For some, it may be the only bike brand they know. So it may be a shock for them to hear that such an iconic name, with a legacy of Tour De France and Olympic-level success, has gone out of…
SpiceJet reached a settlement with aircraft lessor Aviator ML on Monday over a payment dispute involving around ₹60 crore, but the National Company Law Tribunal (NCLT) deferred its judgment in a batch of eight insolvency petitions against the airline after other lessors opposed the settlement. SpiceJet informed the NCLT that an agreement had been reached…
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Sheffield United’s owners are focused on the new season despite the club’s former owners suggesting they face a “real prospect” of administration ahead of an insolvency court hearing on Wednesday. Sky Sports News reported last month that the club’s previous owners, United World, had issued a winding-up petition against the current owners. United World, which sold Sheffield…
Leeds freight business shut down after Insolvency Service investigation reveals unpaid international debts Insider Media Ltd Read the original article here
Nyka Steel is already undergoing a Corporate Insolvency Resolution Process (CIRP) before the NCLT. The National Company Law Appellate Tribunal (NCLAT) has upheld an order passed by the NCLT, directing insolvency proceedings against a personal guarantor of Mumbai-based Nyka Steel. A two-member bench of the appellate tribunal upheld a February 3, 2026 order of the…