Small companies also account for a sizeable proportion of the organized sector workforce in the country. Illustration: Jayachandran/Mint Arvind Subramanian had once said that India has moved after 1991 from socialism without entry to capitalism without exit. The recent sight of some of the biggest Indian companies being put on the auction block by creditors…
High-profile barrister Charles Waterstreet has declared bankruptcy, casting doubt on his ability to continue practising at the Sydney Bar. The 68-year-old lodged documents with the Australian Financial Security Authority on March 13 and is now listed as an undischarged bankrupt on the national personal insolvency index. Charles Waterstreet applied for bankruptcy after he was ordered to…
Anticipating a difficult resolution for the Assam Company India Ltd, which is facing insolvency proceedings in the Guwahati bench of NCLT, the companys resolution professional, T Kannan has asked for an extension till July 23 from the tribunal to complete the process. The problem is on account of the debt…
Binani Cement is likely to move the Supreme Court on Monday to end insolvency proceedings against it. The companys lenders have asked it obtain the necessary permission before consenting to an out-of-court settlement. The lenders met on Saturday. After the meeting some of them confirmed the meeting was held to…
Is east Cork the new Cork? Pearse Flynn, tech veteran, football club owner and now top insolvency adviser, must hope so, given his ever-rising commitment to his home town of Ballycotton. Flynn has built an architectural gem of a home in the town, on the cliffs overlooking Ballycottons brooding island lighthouse. Local reports say he…
Is east Cork the new Cork? Pearse Flynn, tech veteran, football club owner and now top insolvency adviser, must hope so, given his ever-rising commitment to his home town of Ballycotton. Flynn has built an architectural gem of a home in the town, on the cliffs overlooking Ballycottons brooding island lighthouse. Local reports say he…
Industrialists, Lawyers and Chartered Accountants who gathered for a book launch by Sridhanya Foundation called the National Company Law Tribunal (NCLT) a powerful tool. The Centre has constituted NCLT under Section 408 of the Companies Act, 2013 (18 of 2013) from June 2016. The NCLT is a powerful tribunal, Justice N. Kirubakaran, judge, Madras High…
Chennai: A mammoth money-laundering case, hitherto discussed in hushed voices, has now come out into the open, with the Madras high court handing it over to the CBI. Arjunlal Sunderdas will ring a bell in the top echelons of industry, judiciary and politics, because scores of VVIPs had parked their money with the man with…
Following a number of corporate governance failures in situations of insolvency, the Government has published a consultation paper (located here) aimed at cracking down on directors and employers behaving irresponsibly. These reforms will give the regulatory authorities much stronger powers to come down hard on abuse and to make irresponsible directors bear the consequences of their…
INTEREST has gone through the roof just two days after receivers listed the luxury riverside home of one of Brisbanes prominent families. Receivers moved in midweek on the 1927 Spanish mission style home of Margaret Batt, wife of bankrupt whiskey and cattle baron Keith Batt who founded Nant Distilling Company. Called El Nido, the stunning…