Ericsson India Private Limited (Ericsson) has filed an insolvency case against Reliance Communications Ltd. in the Mumbai bench of the National Company Law Tribunal (NCLT) to recover dues totalling Rs. 1,155 crore. Confirming the development, an Ericsson spokesperson said in an emailed reply to a query from The Hindu, Ericsson can confirm that the company…
MUMBAI: Telecom equipment maker Ericsson petitioned the National Company Law Tribunal (NCLT) seeking the start of bankruptcy proceedings against Reliance Communications (RCom) and two of its subsidiaries over total unpaid dues of Rs 1,150 crore. The two subsidiaries are Reliance Infratel and Reliance Telecom. If the petition is accepted by NCLT, it could disrupt the…
David James The former England No.1 had a long and storied career, playing for Liverpool, Aston Villa, West Ham United, Manchester City and Portsmouth. He reportedly earned in excess of £20 million (S$35.6m) during his time in the Premier League. James even held an online auction to sell off some personal belongings and football memorabilia But an expensive divorce in 2005 led…
Mumbai, Sept. 13: Ericsson India Private Ltd (Ericsson) has dragged Anil Ambani-owned Reliance Communications (R-Com) to the National Company Law Tribunal (NCLT) An unsecured operational creditor of R-Com, Ericsson today filed a petition at the NCLT, Mumbai bench, under Section 9 of the Insolvency and Bankruptcy Code (IBC) to recover Rs 491.41 crore. Ericsson…
The wife of the bankrupt founder of the Nant whisky and angus cattle investment schemes will be interviewed by the corporate watchdog as part of an ongoing investigation into the saga, the ABC’s Background Briefing has learned. Key points: Nant founder Keith Batt declared bankruptcy in 2015, $16 million in debt Whisky and angus…
MUMBAI, Sept 13 (Reuters) – Ericsson’s Indian subsidiary has filed insolvency petitions against Reliance Communications and two of its companies to recover unpaid dues, the Indian mobile operator said in a stock exchange filing on Wednesday. The Swedish telecoms equipment maker, which signed a seven-year deal in 2014 to operate and manage Reliance Communications’ nationwide…
MUMBAI (Reuters) – Ericsson’s Indian subsidiary has filed insolvency petitions against Reliance Communications and two of its companies to recover unpaid dues, the Indian mobile operator said in a stock exchange filing on Wednesday. The Swedish telecoms equipment maker, which signed a seven-year deal in 2014 to operate and manage Reliance Communications’ nationwide network, is…
COLOURFUL former Taunton MP Sir Edward du Cann has died in Cyprus at the age of 93. Sir Edward was MP for Taunton from 1956 -87 and lived for many years at Cothay Manor, near Wellington. He had a host of business interests but Homes Assured, of which he was a director, crashed with £10…
NEW DELHI: Industry body Assocham today sought from the government slew of tax relief for companies against whom insolvency proceedings have been initiated. “Where any outstanding liability, inclusive of any accrued interest is waived in accordance with the approved Resolution Plan, such waiver/write-back should not be subject to tax under both normal and Minimum Alternate…
11:47 13/09/2017 MOSCOW, September 13 (RAPSI) The Commercial Court of St. Petersburg and Leningrad Region has declared Transaero air carrier bankrupt, according to the commercial courts database. The court initiated the bankruptcy proceedings for a term of six months. Transaero found itself unable to pay its debts valued at 250 billion rubles (about $4 billion)…